Long

XBTUSD ($BTCUSD) likely to reach 7123

Updated

likely will reach 7100 Check my other charts to see how accurate I was or not! Right now, I have a new position after closing the old one.

Note

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

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

23.6% retrace of the entire bear market is at 7123 for BTCUSD. This is where #bitcoin is going towards for now.

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 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 7000 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

Will you be surprised if within next 7 days, you find #bitcoin at 7000?

Note

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. When a short squeeze happens, we can see price movement up of 1000/2000 in a moment or so, i.e. price of #bitcoin can reach almost 8000 in an instant. I do think 7123 will likely be happening for BTC

Trade active

Trading still active. I firmly believe 7123 is on the card. I want to close only when it cross over 7000.

Trade active

Target is 7000-7114 (an not 7123).

Note

See how fast it is going. 7000+ will be here soon.

Trade closed: target reached

6984 closed profit

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