BTC: Double top / M pattern + Longterm curve line
Hello,
When looking at the BTC charts I can see this as a longterm outcome.. This means my ultimate bottom lies around 19k-20k.
I hope we will not reach that, I would much more appreciate it if the maximum bottom would be around 25-30k for a quick reversal, however looking at how the curve is going all these years.. how we are now under it and how other lines + the M pattern lines up.. I will trade accordingly and Dollar Cost Average (DCA) all the way to this level.
My strategy is the "percentage wallet" strategy, meaning my amount of stablecoins (which I split up in gold, dollar and euro) vs my amount of crypto (which I split up in btc, eth and altcoins) differs every week. At the moment my cryptowallet is around 36%, it was 27% at 43k when we dropped and it has been 44% at the 35k bottom. I sold alot past week though, bringing it to 36%.
I am preparing multiple buys until 20k, around 10% around the 28-31k level (as many other traders), I skip the 25k-27k zone and I start another 10-15% buy at the 20-23k region. This would be a big buy because I expect a good bounce from this level. If we bounce from there, I will probably resell some of the bought crypto at 20k. Probably around 30-35k. This way I can keep compensating earlier buys and I can aim for an ultimate bottom.
In the end, as you can see in the chart, my goal for BTC is still ATH in the coming 1 or 2 years. I don't think markets are ready to slide into crisis yet.. That would be "too simple". However IF we really go into another bullish cycle, I am prepared to sell 70% of my total cryptowallet.. probably bringing my stablecoin wallet to 80 or 90 %. I think that the next bullish cycle could be the last for now, before we reach some bearmarket.
By the way, google M pattern... If we are looking at a "bearish 5-0 pattern" then we are in for a good bottom around 10-20k.
When looking at the BTC charts I can see this as a longterm outcome.. This means my ultimate bottom lies around 19k-20k.
I hope we will not reach that, I would much more appreciate it if the maximum bottom would be around 25-30k for a quick reversal, however looking at how the curve is going all these years.. how we are now under it and how other lines + the M pattern lines up.. I will trade accordingly and Dollar Cost Average (DCA) all the way to this level.
My strategy is the "percentage wallet" strategy, meaning my amount of stablecoins (which I split up in gold, dollar and euro) vs my amount of crypto (which I split up in btc, eth and altcoins) differs every week. At the moment my cryptowallet is around 36%, it was 27% at 43k when we dropped and it has been 44% at the 35k bottom. I sold alot past week though, bringing it to 36%.
I am preparing multiple buys until 20k, around 10% around the 28-31k level (as many other traders), I skip the 25k-27k zone and I start another 10-15% buy at the 20-23k region. This would be a big buy because I expect a good bounce from this level. If we bounce from there, I will probably resell some of the bought crypto at 20k. Probably around 30-35k. This way I can keep compensating earlier buys and I can aim for an ultimate bottom.
In the end, as you can see in the chart, my goal for BTC is still ATH in the coming 1 or 2 years. I don't think markets are ready to slide into crisis yet.. That would be "too simple". However IF we really go into another bullish cycle, I am prepared to sell 70% of my total cryptowallet.. probably bringing my stablecoin wallet to 80 or 90 %. I think that the next bullish cycle could be the last for now, before we reach some bearmarket.
By the way, google M pattern... If we are looking at a "bearish 5-0 pattern" then we are in for a good bottom around 10-20k.
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