BitcoinLong
BTC - STRATEGY how to trade with GAME PLAN
Dear Traders
While waiting for BTC to finally bottoms its second cycle for this downward trend, I don't make conspiracy theories (all bubble patterns behave similar) or complain about pumps and dumps, I am working on my next strategy how to make solid profit.
I have been all FIAT since the beginning of the March, patiently waiting, like a surfer for that one wave. I make usually 2-3 trades a month and try to avoid losses.
Let's start with my strategy.
1. Most important are my trading assumptions, I base whole strategy on this and try to predict every detail:
2.To establish price levels I use: Fibonacci retracement, Pivot point support and resistance levels,
Trend line support and resistance levels, RSI indicator
3. My motto: Be patience, Don't be greedy and stick to the plan.
So my plan for my next trade:
a) As we know from December 2017 this is bubble pattern, every bubble pattern lose circa 80% from highest price. BTC = ~20000-80%=$4000
I predict that major bottom for this trend is ~$4000
So my conclusion is when we hit bottom we can expect another one (this is only my expectation)
b) I have set price level based on Fibonacci.
Technically bottom range is 5755-6075 but I expect price rebound at ~$6000
Technically scope of retracement is $8525 and for this moment my STOP TRADING level is $7990 but when price will reach $7618 i will pay attention to RSI an Volume level. I always can correct my predicted profit levels up or down.
I want to buy few coins and I expect solid profit in two weeks time, if this trade will play my game.
Please remember there is always "if" so if price will not drop to this level or will not reach price you expected then you need to have backup plan and decide if you want to get in or sell with lose or just wait.
So I am waiting for the right moment to act.
Hope I help you again to understand few things, I have sown you my little world of trading so if you like it please hit thumb up.
This is for education purpose only.
Happy Easter, Happy Trading and Good Luck
While waiting for BTC to finally bottoms its second cycle for this downward trend, I don't make conspiracy theories (all bubble patterns behave similar) or complain about pumps and dumps, I am working on my next strategy how to make solid profit.
I have been all FIAT since the beginning of the March, patiently waiting, like a surfer for that one wave. I make usually 2-3 trades a month and try to avoid losses.
Let's start with my strategy.
1. Most important are my trading assumptions, I base whole strategy on this and try to predict every detail:
2.To establish price levels I use: Fibonacci retracement, Pivot point support and resistance levels,
Trend line support and resistance levels, RSI indicator
3. My motto: Be patience, Don't be greedy and stick to the plan.
So my plan for my next trade:
a) As we know from December 2017 this is bubble pattern, every bubble pattern lose circa 80% from highest price. BTC = ~20000-80%=$4000
I predict that major bottom for this trend is ~$4000
So my conclusion is when we hit bottom we can expect another one (this is only my expectation)
b) I have set price level based on Fibonacci.
Technically bottom range is 5755-6075 but I expect price rebound at ~$6000
Technically scope of retracement is $8525 and for this moment my STOP TRADING level is $7990 but when price will reach $7618 i will pay attention to RSI an Volume level. I always can correct my predicted profit levels up or down.
I want to buy few coins and I expect solid profit in two weeks time, if this trade will play my game.
Please remember there is always "if" so if price will not drop to this level or will not reach price you expected then you need to have backup plan and decide if you want to get in or sell with lose or just wait.
So I am waiting for the right moment to act.
Hope I help you again to understand few things, I have sown you my little world of trading so if you like it please hit thumb up.
This is for education purpose only.
Happy Easter, Happy Trading and Good Luck
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.