Updated

BITCOIN Long Term Entry

Now is the time to get into bitcoin if you want to hold for a long time.

Note

BTC got rejected from the upper trend line, so we may revisit the 9000s to 8000s.
To protect us from this and lock in some profits, set stops to 10060 (the red line in the chart below).
If the price goes below the red line, it means the wedge structure has failed.

Note

We are in a channel, BTC is extremelyl bullish.
dont pannic if the channel breaks.

Note

Trend line re-confirmed.
The bull is in full steam.

Note

Chennel is broken. We could test back the long term flag. Set stop to 10830 to lock in profits.

We may get a better privce buying again later.

Note

This is why we set our stop loss - our profits are locked in.
We are going to wait for a re-entry signal.

The ultimate goal is to get a good entry point and break through the 12000 resistance to confirm the uptrend.

Stay tuned.

Note

Aren't you glad you took your profits when the market showed weakness.

Trading with TA is not just about entering at price X and taking profits at price Y.
You have to manage your trade by locking in profits and limiting your possible lost to a known value.

I'm waiting for a signal to go long again. The recent violent price drop indicates that we are likely going lower. I will sit and watch for now.

Note

Another wave down is comming.

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