BTC, only healthy correction! Must read to profit nex time!
Updated
Risk: Low/ Very low
Dear followers,
I hope that many of you have been able to limit your losses or perhaps have made a profit this night. In order to prevent the same situation for the first group in the future, I post a number of important rules here. Use it to your advantage.
If you have read my previous ideas, then you will have seen that I warned of a greater correction. We saw this correction last night. (European time) It has taken a long time before we can finally see a normal correction in this kind of big increases. Some people called it a crash or a total collapse. I call it healthy correction, not more than that.
Why?
- On 8 October the price of 1 bitcoin was $ 4000, -. This week a bitcoin was worth almost $ 20,000.
- A strong increase is always accompanied by a strong correction.
- In a normal stock or currency market, you could indeed have called this a crash. Do not forget that volatility and increases on a normal market are much lower. So, in percentage this was a normal correction. After the extreme increase.
- The crypto market is not a normal market, so it takes into account high rises, but occasionally large falls. Remember: Shareholders are often happy with a dividend of 3% and a small price increase per year!
In this market, we often earn 50% or 100% in a day!
How did I prepare for this correction:
- As I described in my Litecoin idea, I had a cash position of 39% because I expected a large correction in this cryptomarket.
- I did my homework for the decline and had already signed the long-term trend channel.
- As soon as we broke from the previous trend channel, (previous btc idea) I placed purchase orders at different levels. A small one at 16400 and a large one at 15700. While I slept, 2 purchase orders were made. I have been able to put a large position on almost the bottom. Unfortanately it didn't reached my largest order at 13500. (I was hoping for a quick spike to touch this level)
When I woke up and I looked at what had happened, I earned money, while many people lost money and panicked and I slept well.
What I want to say with this:
- Trading is not always rocket science. Sometimes, it is indeed difficult, to make money in a certain market. But sometimes it is also quite simple!
- Switch off your emotions and keep looking at what is happening.
- Learn from these experiences. Recognize the situation next time, because they will definitely come. (In the past I also lost money in similar situations on the stock market and foreign exchange market.) I give you this information for free, I paid for it in the past.
- After this correction, we are trading in a much healthier bitcoin market again, and this will make the market more predictable for the coming months. That is why I put the risk for this idea very low/ low.
Buy: at the bottom of the channel.
Sell: At the top of the channel.
For the short term: The dotted line is resistance. (Low)
For the long term: The bottom channel line is resistance. (Very low)
Note: In most cases I use more indicators to post this idea. I'll show you only the most important ones, to keep charts clear.
I receive messages that you appreciate my ideas. I'm not happy that I couldn't update you with this before the decline, because I can only post one chart at a time. This has made me decide to upgrade my account this week, so that I can provide you with better information.
I sometimes react slowly in connection with a study and my company. Do not forget that I appreciate your questions and feedback and that I will always do my best to respond as quickly as possible.
Please, follow and like for more trading ideas.
Questions? Feel free to ask and your feedback is welcome.
Dear followers,
I hope that many of you have been able to limit your losses or perhaps have made a profit this night. In order to prevent the same situation for the first group in the future, I post a number of important rules here. Use it to your advantage.
If you have read my previous ideas, then you will have seen that I warned of a greater correction. We saw this correction last night. (European time) It has taken a long time before we can finally see a normal correction in this kind of big increases. Some people called it a crash or a total collapse. I call it healthy correction, not more than that.
Why?
- On 8 October the price of 1 bitcoin was $ 4000, -. This week a bitcoin was worth almost $ 20,000.
- A strong increase is always accompanied by a strong correction.
- In a normal stock or currency market, you could indeed have called this a crash. Do not forget that volatility and increases on a normal market are much lower. So, in percentage this was a normal correction. After the extreme increase.
- The crypto market is not a normal market, so it takes into account high rises, but occasionally large falls. Remember: Shareholders are often happy with a dividend of 3% and a small price increase per year!
In this market, we often earn 50% or 100% in a day!
How did I prepare for this correction:
- As I described in my Litecoin idea, I had a cash position of 39% because I expected a large correction in this cryptomarket.
- I did my homework for the decline and had already signed the long-term trend channel.
- As soon as we broke from the previous trend channel, (previous btc idea) I placed purchase orders at different levels. A small one at 16400 and a large one at 15700. While I slept, 2 purchase orders were made. I have been able to put a large position on almost the bottom. Unfortanately it didn't reached my largest order at 13500. (I was hoping for a quick spike to touch this level)
When I woke up and I looked at what had happened, I earned money, while many people lost money and panicked and I slept well.
What I want to say with this:
- Trading is not always rocket science. Sometimes, it is indeed difficult, to make money in a certain market. But sometimes it is also quite simple!
- Switch off your emotions and keep looking at what is happening.
- Learn from these experiences. Recognize the situation next time, because they will definitely come. (In the past I also lost money in similar situations on the stock market and foreign exchange market.) I give you this information for free, I paid for it in the past.
- After this correction, we are trading in a much healthier bitcoin market again, and this will make the market more predictable for the coming months. That is why I put the risk for this idea very low/ low.
Buy: at the bottom of the channel.
Sell: At the top of the channel.
For the short term: The dotted line is resistance. (Low)
For the long term: The bottom channel line is resistance. (Very low)
Note: In most cases I use more indicators to post this idea. I'll show you only the most important ones, to keep charts clear.
I receive messages that you appreciate my ideas. I'm not happy that I couldn't update you with this before the decline, because I can only post one chart at a time. This has made me decide to upgrade my account this week, so that I can provide you with better information.
I sometimes react slowly in connection with a study and my company. Do not forget that I appreciate your questions and feedback and that I will always do my best to respond as quickly as possible.
Please, follow and like for more trading ideas.
Questions? Feel free to ask and your feedback is welcome.
Note
Short term idea closed.Possible re-test of support zone. This is a very strong resistance zone. Three resistances are coming together here. (18ma, hourly fibo and the trendchannel.) So excelent chances to buy, If these supports break, our next supports are 14233 and 12919. So, excelent chances to buy.
SL: 15300
Note
Note
<deleted>Note
Something went wrong when placing the chart. See previous update for an explanation of the chart. [img]
Note
[img]A close of a candle on the daily below the trend channel means that we are gonna trade in a new channel. 14233 is our first resistance then. 12919 is a strong resistance.
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