Just like that my last idea called for a solid weekly close would lead to more upside and we got a massive push all the way to 8k.
I saw some calls that were accurate after we turned down. But was I the only one on this site that actually had a structure in place for the last downturn to make money before it happened?I outlined my strategy back in NOVEMBER detailing exactly what i was going to weather a potential downturn. I detailed my entry down at $3,300 and detailed the area I outlined was a hodl zone.
Maybe I need to post some rockets on my chart and that will get me more attention. and some big bitcoin "B's" to draw more attention to myself.
While you all get caught up in the hype of people's ideas, I am going to buy some lambo's.
Stop moved to just under $7,000. We are fully in profit. We booked 50% of profits at 6,400 area and the rest we are targetting 10k. This weekly chart is still very bullish. MACD is turning positive, solid weekly close. We will continue to push higher. What I would expect to happen as we get into this BTC 8k-10k range is people to start shifting profits from BTC into smaller alts and major alts which will cause them to rally more than BTC and BTC dominance drops. This could also result in a slow climb from the 8k area to the 10k area.
Happy Trading and hodling folks. It's not about how much you make when trading it's about how much you don't lose.
-Sherem
Kommentera
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Where I outlined in the HODL zone in NOVEMBER OF 2018!!
Kommentera
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Identifying the ascending triangle:
Kommentera
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the channel:
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THE BREAK:
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For new entries you need to think about what is your risk and how do you play it. BTC could pull all the way back to 5k before going up again. So here are 2 ways to play it for new entries.
A. Buy soon with 33% of your BTC Sleeve you have allocated for BTC trading. (maybe even try to time it a bit at 7.3k, hard to say exactly) This will allow you to mitigate risk and not miss an potential move. But be prepared to buy at 6k with 33% and 5k with 33% and hold for a move up.
B. Try to buy on a minor dip in the 7200 area with a stop below 7k for a move up.
That's how I would play new entries at this point, but the choice is yours whether you do either of those or not! Good luck
Kommentera
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An interesting development here. If you bought in, I doubt you had time to put a stop on since the market moved so quickly. If this area holds it should prove to be a good entry point. i trailed my stop up and got stopped out around 7500. Got back in again around 7200, stop below 7k again at 6800.
we are in good position after all of those gains. Good luck everyone.
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This spot is working well for our buy. Continuing to hold.
Why is Alt coins not growing like BTC compared with last year prices !!!!!
I am very disappointed !
All in ETH & NEO
theredbaronZ
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For those of you who haven't tried Sherem's staggered buy and sell method, let me tell you a) it works and b) it really reduces stress. I used to be a frantic refresh monkey watching like a hawk for the peak or the bottom and trying to catch the exact moment. Of course it is rare to impossible to actually hit the extreme points since one can't see the future.
With the staggered buy and sell you just place your "bets" and go to bed. Wake up in the morning and see what happened. Go to work and check when you get home. Low stress and no critical timing required. Sure it provides less theoretical return than actually hitting the peaks and dips but the staggered "Martingale" strategy reduces your average cost and increases your average return. I think on average you will come out ahead compared to an "all in/out at the peak" buy/sell strategy.
Instead of a linear increase like Sherem advocates I try to guess the max/min point and increase my buy/sell sizes as the price approaches that point and go smaller both above and below my "best guess" price. If I'm right I get closer to the actual max/min on average. If I'm wrong I'm still in the game and at least some of my staggered buy/sells have hit pretty close to the actual max/min.
Anyway I recommend you study Sherem's posts and understand his method at least. Happy Martingaling!
theredbaronZ
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I went flat at 7100. I thought for sure it was going to retrace into the 6000s and it did but very quickly bounced out again and I didn't catch it.
I'm very interested in your comments on new entries starting now and going forward i.e. what does one do in this kind of market going forward?
@Sherem, thanks for the update. Long time follower, I am traveling US atm and don't have access to my trading accounts. Missing all the action, added to my holding at $4600 though.
Do you expect the binance upgrade to effect the price on the 15th? Your opinion would be great.
Sherem
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@WingsGB, I don't think it will have that much effect tbh. We have seen crypto react both up and down when this happens, so ultimately it's hard to say. but I don't think any negative reaction is going to take place since binance is taking steps to be more secure. We might even get a move up as one of the main purchasing exchanges will be off line
I am very disappointed !
All in ETH & NEO