Bitcoin target is at 11295 with very limited downside
Updated
BTCUSD Stoch RSI, possibly at 2015 pre bull run level, is still not overbought. Last time, in 2015-2017, it lasted 2 years from $300 to 19K. If history is a guide, then this time can we expect similar movement in #bitcoin #bitcoin price has already closed above 50 MA & have printed the golden cross. weekly MACD crossing above the zero line is a clear indication of bullish nature from
BTCUSD 23.6% retrace of the entire bear market is at 7123 for BTCUSD. 50% is at 11295.
This is where #bitcoin is going towards for now. ANd then 11295
On May 20, 2020, the next halving of #bitcoin will occur resulting in supply side changes. This will cause, if history is an indication, for
BTCUSD to double up in price. There is a clear correlation between #bitcoin reward halving and price volatility afterward #FedEx’s Fred Smith, #Fidelity’s Abigail Johnson, #Twitter and #Square’s Jack Dorsey, chairman of the U.S. #SEC, Jay Clayton, and U.S. presidential hopeful, Andrew Yang will be speakers at #Blockchain Week NYC and CoinDesk’s Consensus 2019 event beginning Monday, May 13
While the SEC has not yet approved any crypto ETFs, it may be just a matter of time before one passes muster with the regulator
If you are short in #bitcoin, be mindful that it is having bullish time and can at any moment skyrocket to wiping all your holding. Your stop loss just won't cover. Better to be long here than be short for BTCUSD. Or better yet going long with some leverage on #XBTUSD
The main rise in #bitcoin price will happen once the fidelity $ gets in
I said ~7000 will happen within a few days. And it did. And, I say ~11295 will happen very soon.
The ratio between shorts and longs has not been this high in a very long time. And, the ratio has not come down yet to a reasonable value. It still is high. I talked about short squeeze happens and it happening. However, do realize that the biggest short squeeze to happen above 7200 when the price would just rocket towards 8000+.
See how fast it is going.
Hope you followed my earlier posts and made profits. Hope you can follow me and like me as well. Feel free to follow me on twitter as well. Regards
Remember
Some trading Lessons to remember
1) If stomach hurts, something is wrong!
2) Do not overtrade & let trades run as thought
3) On waking up suddenly in middle of night, add Stop Loss rather than close at market!
4) DON't FOMO in middle of night or when tired
Note
Profitable Trade suggested by me:
And many many more.
When everyone was bearish, I was bullish. I was right on target every time. However, I believe there may be at-least one more push up before any consolidation. The final target for me is 11295 that is the 50% fib value from top to bottom of the crypto winter.
My target is to achieve 5+BTC by the time price hits 11295. Let's make profit a reality always.
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***This information is not a recommendation to buy or sell. It is to be used for educational purposes only.***
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Note
Are you happy now ? :)Trade closed manually
Sold in profit. I will be taking time off and may not be monitoring as actively. Hence I am closing this. Also in real account sold in large profit. Overall I ended up with 5.7X. Follow me, maybe? I will be back with next chart showing clear entry and stop loss. - Live long and prosper, Bitcoin
Regards
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