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Best place to scoop up more Bitcoin ! ! [BTCUSD] Short explanation: Wait for price to drop to my drawn lines before buying or adding to your positions. These lines indicate the areas that the big buying is currently taking place in bitcoin...AKA the uptrend Long explanantion: My drawing projections aren't always 100% accurate, however, it's all about direction & areas of obvious buying pressure. The lines I've drawn show the clear uptrend that bitcoin has remained in for the last few years. I won't say bitcoin is going to $1Million right now but I will say that when it drops again, I'll be adding to my position if price shows bullish candle sticks near the lines drawn. I wouldn't be buying right now. You should already be in at lower levels, even if you plan to daytrade. From my perspective, $15,000 is the nearest magic number to be buying. Failing $15,000 & dropping back below $10,000 is surely possible, as anything is. However, if these ORANGE trend lines continue to hold, no amount of bad news will stop bitcoin from breaking above $20,000. I'm also into other altcoins, as there are several that are undervalued in relation to bitcoin & show just as much promise, as large investment companies pile in. I'm a fan of Ethereum ETH, Ripple XRP, & Telos. I've got a few other random ones that I'll keep buying under the $1 price & will keep adding to as long as their tech stays promising in the news. I'm more of a technical trader, meaning I make my decisions purely on what the chart shows. However, when billionaires like Paul Tudor Jones get into Bitcoin or Warren Buffett gets in on Gold, I know I've got to have an ear to the streets. As long as the charts say buyers are staying in, that means we stay in! Don't over leverage though! Don't keep adding when price is getting higher & closer to high pressure selling areas. Take a little profit if you feel the need but wait for price to drop before adding more. This keeps your risk to reward in a more optimal position. Buy & sit. If you feel anxious, open a Forex account & day trade oil, gold, or US30...I use FxChoice.com for that. I'd say get Etrade.com & trade stocks but stocks are slow in comparison to commodities & indices like DE30. Forex pairs like EURUSD are great for beginners, as they are cheap, move slower, & you'll lose less money when you do trade. PRACTICE ON TRADINGVIEW.COM's fake account until you are confident to take on real money. I've taught my kids everything I know & they a little spending money for now, so I know you all can do this! PRACTICE...
COINBASE:BTCUSDLong
by BillionaireTomBoi
1
BTC $13,000 Target hitSee my previous BTC analysis'. As long as we stay above $8,000, we WILL retest $20,000. This move will more than likely take another 3-6 months to complete. I've got Bitcoin in my long term account & don't plan on reducing my size until at least $15-18,000. I plan to Daytrade all 1 hour pullbacks for income trades, over the next few months. Buying at key Fibonacci levels that match up with Volume Profile support levels is about the easiest way to kill this market right now. As for stocks, I'm in & out of US30 but if we fail $28,000 I'm shorting for the next 2 months. I am NOT selling my long term stock positions. I plan to continue to hold all my current stock positions. Why? 1. Most of my positions are dividend stocks that I'll make money from regardless of the price drops. These positions include everyday things that people use like - water (WTER), gas (XOM), REITS (real estate), etc... 2. My other holdings are in 10-20 year growth stocks, in the tech sector. These positions include things like space & telecommunications companies. I have my personal reasons for being in the companies I've chosen, as I understand their growth potential & what they are bringing to the future of humanity.
COINBASE:BTCUSDLong
by BillionaireTomBoi
4
SPY rejection, then NEW HIGHSReguardless of the world's current events, you better believe that stocks can rally to new highs & continue climbing. Reguardless how many people die, businesses fail, or governments collapse, this can happen. 1. The real people/companies/funds who have the money to keep in financial markets play their own game & are not about to let it fall apart. 2. The richest people/governments have no choice but to keep their money in assets, this includes financial. They see money as the real tool, resources, & asset for driving more revenue. They don't get scared out of financial markets just because asset prices fall. You can learn that from the JP Morgans & Warren Buffets of the world. 3. This exact place we are at is a mirror of the same places we've been at time after time, generation after generation. This is a mirror of a cycle that will continue to occur, as that is the nature of attaching human sentiment to market behavior. 4. This is a numbers game that can be manipulated on so many levels, including corporate debt restructures, currency valuations, & government intervention. ASSETS CAN RISE INDEFINITELY AS LONG AS THERE IS A MARKET FOR THEM TO BE BOUGHT & SOLD IN + WILLING PARTICIPANTS! It is within the best interest of every high-net individual to participate in asset markets, as they allow the opportunity for capital appreciation with limited associated costs. Conclusion: the market could fall & retest the low for all I care, but you better believe it could recover & double in a blink. The GREEN line I have drawn is a level of support that, if held, will provide enough momentum to provide a substantial breakout for financial markets across the globe. Disclosure: I am anticipating a short entry but only down to the GREEN line. At which point, I will not fight the proven upward momentum & will be anticipating the opportunity to build a LONG position... SHORT TERM I'M BEARISH, LONG TERM I'M BULLISH.
AMEX:SPYLong
by BillionaireTomBoi
BTCUSD 1st breakout target hitThe 1st profit target for my previous post has been hit. This is a great place to take partial profits, if you entered that trade with me. If BTC is to continue higher to the next targets (noted in purple), price will need to hold above the GREEN line I've marked. This is a diagonal channel breakout, however, it does NOT guarantee a continuation back to the highs. I will continue to update this trade weekly. Either of these projected moves will take a few weeks to play out.
COINBASE:BTCUSD
by BillionaireTomBoi
Stocks hold or sell?My analysis of SPY weakness. I've marked short-term support & resistance, as the SPY, DOW, & other US indicies are retesting the latest crash. I would not be calling this a bear market yet, although I did enter a SHORT position on Friday. In the most recent crashes we've had, we've always managed to double bottom on the retest of a crash & then move on to make new highs. A retest of the lows is realistic, however, if we make a double bottom support, I wouldn't be shorting stocks or indicies at that point. Again, I've only been trading the SPY (Forex: US500) & Oil (Forex: USDWTI) this year. The price moves of regular forex pairs don't even compare when it comes to quick AND LARGE profit potentials. Not even Gold can compete, when we're talking about daytrading… As for my RSI, I'd be expecting further weakness & remain in my short trade if the RSI retests the upper threshold & then makes a lower low. This is a good confirmation indicator for continuation of weakness.
AMEX:SPYShort
by BillionaireTomBoi