With 98.1% of BTC holders in the money, creating a new 2-year high, we can safely assume there will be some short term traders seeking to take profit. To them we say thank you. Taking advantage of these short term sell off to DCA into a new long position is the plan.
As shown above, BTC rallied just above 5% in 8 hours and has consolidated since.
In order not to FOMO, we are looking for selling pressure to push the price down to as low as $63,162, giving us 4 entries. If all are hit, we are looking at an average strike price of 63,813.
Our take profits are rather short term as we are using the Fib retracement level of 1.618 to determine our last exit. From there, we work our way down, taking 25% of our initial investment out to secure gains along the way.
Total risk should be no more than 5% of our account balance.
Take profit should be around 1-2%.
Stop loss is set at $62,712.
This is not financial advice. We are not responsible for any of your gains or losses based off our predictions.
As shown above, BTC rallied just above 5% in 8 hours and has consolidated since.
In order not to FOMO, we are looking for selling pressure to push the price down to as low as $63,162, giving us 4 entries. If all are hit, we are looking at an average strike price of 63,813.
Our take profits are rather short term as we are using the Fib retracement level of 1.618 to determine our last exit. From there, we work our way down, taking 25% of our initial investment out to secure gains along the way.
Total risk should be no more than 5% of our account balance.
Take profit should be around 1-2%.
Stop loss is set at $62,712.
This is not financial advice. We are not responsible for any of your gains or losses based off our predictions.
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.
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.