Bitcoin / Tether USDUpdated BTC Doing What Was Predicted - Stick To The Vision!!!!!
BTC did exactly as my analysis predicted - we have traced the right side of the H&S and will need to go a bit lower before the current pattern is done.
Many if you probably bought some BTC between 7500 and 7600 - its been banding between these prices for a large part of the pattern. This is not a bad long position price.
If you have been patiently waiting for the right side to trace all the way down to start buying - I recommend you wait a little longer - at least wait until around 7k - any spike in the meantime will be temporary and we wiill correct back down.
There is a ton of buy pressure in the 6000's and beyond. I have always believed we will bottom in the 6000's again before we move back up to 10k. We are really close to some of my target prices. I've waited since May 29th to see this pattern play out.
Once we hit my first target price I will release another chart showing whats going to happen next. My recommendation if you are in the cash is to split it up into a few "chunks". Money management is key to surviving these volatile times. My first buy will be at the bottom of this pattern ($7050) - I am predicting that the bearish trend will continue until we touch the 6000's - so I am holding back. At the end of the H&S pattern there is a very good chance we could see a small rally - but unless it breaks above 7800 I wouldnt think much of it. Stay patient and wait for the targets!
Money management is important - your crypto budget should have at least 20% for Alt coins - this could help you grow your btc holdings even more. The projects I think are offer the most value and upside are LTC, XRP, ETH, EOS, SC, DGB, XLM and XMR.
Be patient - Stick to your BTC projections - if you aren't confident - find a trade you are confident with! Most people never regret missing losing - they only regret missing winning - theres little difference between the two other than outcome. There is always a new entry and exit point - stick your vision - if you miss is this time you'll get in on the next pattern.
***If you find these charts helpful please click on the like button.. these are the charts I actually trade off.. Let me know if they help you!***
Many if you probably bought some BTC between 7500 and 7600 - its been banding between these prices for a large part of the pattern. This is not a bad long position price.
If you have been patiently waiting for the right side to trace all the way down to start buying - I recommend you wait a little longer - at least wait until around 7k - any spike in the meantime will be temporary and we wiill correct back down.
There is a ton of buy pressure in the 6000's and beyond. I have always believed we will bottom in the 6000's again before we move back up to 10k. We are really close to some of my target prices. I've waited since May 29th to see this pattern play out.
Once we hit my first target price I will release another chart showing whats going to happen next. My recommendation if you are in the cash is to split it up into a few "chunks". Money management is key to surviving these volatile times. My first buy will be at the bottom of this pattern ($7050) - I am predicting that the bearish trend will continue until we touch the 6000's - so I am holding back. At the end of the H&S pattern there is a very good chance we could see a small rally - but unless it breaks above 7800 I wouldnt think much of it. Stay patient and wait for the targets!
Money management is important - your crypto budget should have at least 20% for Alt coins - this could help you grow your btc holdings even more. The projects I think are offer the most value and upside are LTC, XRP, ETH, EOS, SC, DGB, XLM and XMR.
Be patient - Stick to your BTC projections - if you aren't confident - find a trade you are confident with! Most people never regret missing losing - they only regret missing winning - theres little difference between the two other than outcome. There is always a new entry and exit point - stick your vision - if you miss is this time you'll get in on the next pattern.
***If you find these charts helpful please click on the like button.. these are the charts I actually trade off.. Let me know if they help you!***
Note
I hope this analysis helped some people - we did hit the target price of $7050 that I called for - I was able to close in the 6800 range as I mentioned in my analysis (it was a riskier trade).Now I own a bunch of BTC again.. Does that mean that my TA will all of a sudden go bullish? Not likely. We still have to break through the pressure at $7800 to move back to 10k were things make a little more sense...
Have we seen the absolute bottom? Some call for 5k which I think is insane - I have a feeling we will move sideways until we begin testing the 7800 level. The bear market may not have ended yet - but i'm more bullish of some near future gain than I was a few days ago.
Now would be a great time to buy.
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.