DelusionalRams8

DelusionalRams8

Bitcoin broke critical support below 40k but it did not reach support at 38k. Therefore, I'm going to play it safe and take long profit at 43k if we go there. If price pumps beyond 43k (at the 0.618) and reaches the 1 fibbonacci level (at 47k), I will consider taking a small short. This price action is telling me we are in a period high volatility and a medium...

DelusionalRams8

For those who do not know, I am in a long term long trade from the 26k level. In my previous analysis, I stated that 40k support seems to be holding and 61k is my next area of interest. However, what would I do if 40k fails and 38k support gets hit? 38k is a major support level that do expect to hold. If 38k gets hit, I plan to take profit at the next 0.618...

DelusionalRams8

While it is true the 0.786 fibbonacci level was touched at 48k, it has not lead to a devastating blow to the downside. 40k support is still holding which leads me to believe more upside is coming. My old target was 57k based on that 0.786 fibbonacci, but I was expecting price to blow past it creating a blow off top. Since that did not happen, and price rejected...

DelusionalRams8

I'd like to take the time to tell my story and how I started trading. In 2016, I was in the US Navy busting my ass doing manual labor. It was then that I realized that I was tired of working for "the man" and I needed to change how I was going to make money for the rest of my life. I started researching investments and I learned how difficult it was to manage my...

DelusionalRams8

As you can see, I set my fibbonacci according to the log scale and this is my result. As stated before, the 0.786 fibbonacci level gets hit in each cycle before a major pullback. However, I believe the price will push beyond the 0.786 to the 350 moving average shown. I'm expecting a FOMO explosion during and after NYE until the ETF news is announced....

DelusionalRams8

disclaimer * I could be wrong. I admit when I'm wrong and I admit when my chart is invalid (unlike other analysts here). But so far, 🤷 the previous chart I posted is real. I trade using historical data and trends. if I am wrong, I lose money and I move on. I will never give you a bullish and a bearish argument at the same time. Why? Because I will either be...

DelusionalRams8

People ask why I think 51-52k is a likely target? The 0.618 fibbonacci level is at 48k. If you look at every cycle in history that fib level gets hit after every bottom. But that's not 52k? Take a look at the 350 period long moving average in green. Price also reaches that level every time and it is currently sitting at 51k. Good luck and God bless

DelusionalRams8

People ask why I think 51-52k is a likely target? The 0.618 fibbonacci level is at 48k. If you look at every cycle in history that fib level gets hit after every bottom. But that's not 52k? Take a look at the 350 period long moving average in green. Price also reaches that level every time and it is currently sitting at 51k. Good luck to you.

DelusionalRams8

Of course, this is only a projection and it is possible this may not play out. Chart is based on PI cycle tops and bottoms. Good luck and always use stops.

DelusionalRams8

Ehehm... Every time this signal flashed, Bitcoin went on a massive bullrun. It flashed a few weeks ago. If one Bitcoin is not worth a million dollars by the end of 2025, I will eat my hat. I'm dollar cost averaging. You do whatever you want. Pinning this post. Mark my words. This is not financial advice. I'm bullish.

DelusionalRams8

If today's candle closes green, I plan to enter a long for at least a $300 move. That's my idea. Be blessed!

DelusionalRams8

In part 2 of this series, we discussed the probability of a coin flip and how the odds that you land on heads "x" number of times in a row significantly decreases each time the coin is flipped. Therefore, it is important to understand the difference between "the probability the chart goes up or down" and "the probability that you (the trader) find yourself in...