BTCUSD: Long in May?
Updated
• Triangle forming since ATH in Nov’21, with the base of the triangle extending back to the peak of Wave 1 in Jun’19.
• We might still be in a Wave 4 triangle.
• Let’s see if this trading pattern holds.
• But nonetheless, May’22 promises to be interesting indeed.
• (And it would be a good test of the adage to Sell in May and Go Away).
• We might still be in a Wave 4 triangle.
• Let’s see if this trading pattern holds.
• But nonetheless, May’22 promises to be interesting indeed.
• (And it would be a good test of the adage to Sell in May and Go Away).
Comment
Interestingly, the base of the triangle goes back to 2013, and has served as resistance and support multiple times.Comment
2 more weeks?Comment
"2 more weeks" indeed to the day. Let's now wait for 10 May.Trade active
10 May indeed. 11 May: Long BTC (31.6K as at now)
Comment
It is probably 1 of 2 higher probability possibilities now.1. BTCUSD has completed its Primary 5, and it's completing/completed its Primary A now; or
2. BTCUSD has only completed its Primary 3, and it's completing/completed its Primary 4.
Either of these, BTCUSD will probably be trending upwards till around 4QCY22 (Oct?).
Comment
Bought more BTC at 28.15K. In summary, DCAing in BTC at 3.45K intervals (5% of 69K) till 24.3K.Related publications
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