Cheers to all Bulls!
I really do feel sorry for the any remaining bears going forward from this point into the intermediate term over the next few weeks anyhow. I expect BTC continues higher completing the current short term B Wave 5 as depicted. My trading plan has became much easier since BTC began this bullish sequence. It is no longer necessary to re-position BTC every day or each few hours or even minutes. While some day traders will now make less money than they did during the correction's volatility most people will do far better holding longer term now. I say "Goodbye" to the past month's wild ride and to the day trading I had to do. It was wearing me down keeping up to speed with the market almost constantly to make any money. I like the long smooth, steady advances with an occasional small corrective pattern it is just much less of a headache to be an investor.
WARNING: do not try to trade based on anyone's forecast, especially mine. You are responsible for your own trades you. It is your own money and you should learn to manage your own money as no one else will care more about your money than you do I promise. My published charts are for ideas to consider only, they are not for any person to trade based upon my thoughts. Anyhow, I believe at this point in BTC's path I can sit on a long position for a day or two with low risk of any significant BTC decline. We must remember however that no matter how powerful a bull or bear trend may appear that breaking significant news or spreading of FUD by rumors can undo a powerful trend in seconds destroying the best trading plans. I never enter any trade unless I first carefully weigh the risk of loss because my first rule is " NEVER LOSE MONEY" and I always keep a stop set at a loss level acceptable to me but low enough not to get my position stopped out by a small decline.
I see a significant BTC high coming before the end of the year and very likely by early spring. Fibonacci suggests to me BTC will move to 24,000 and potentially much higher to even 32,000+ depending on news events and such. Is there any potentially important news I have not heard about for BTC? Things like forks that could impact my trade? Please share upcoming news with me as I work outside of trading much of the day and cannot keep up with all the crypto news. Also, please like, follow and recommend me to your friends and in the chat room if you enjoy my charting. I would like to have a larger audience so I can get as many idea to share here that really helps all of us trade better. That is the beauty of chat rooms and other communications we all share with each other.
Okay, lets wrap up the next day or so and what I expect to happen based on my TA and EW analysis. BTC should top current Blue Wave 5 inside the rectangular box displayed or move up and slightly above the box completing Blue 5. The box represents calculated Blue Wave 3 Fibonacci extension which Blue 5 most commonly will reach, the .50% and .618% Fib extensions. I expect after BTC tops wave 5 it will next make a shallow correction in an ABC pattern before again moving higher. So, my thinking is BTC continues upward to Blue 5, followed by a minor corrective ABC structure moving somewhat lower, then moving again above the rectangle box breaking out of the cup n handle pattern as seen on this hourly chart. That is the plan I am trading based upon and it calls for really just hodling my BTC at present as no correction I see is likely that justifies me trading in and out of BTC to increase profit. I love it when my trading plan does not call for me to have to watch BTC carefully much of the day to enter and exit trades due to volatility. While hodling I do not make as much money as during the volatile times but I have far less work to do keeping abreast of what BTC is doing and actually can spend my time focusing on my real job of relaxing doing whatever I want to do.
Go enjoy life - Spend time with those you love.
I really do feel sorry for the any remaining bears going forward from this point into the intermediate term over the next few weeks anyhow. I expect BTC continues higher completing the current short term B Wave 5 as depicted. My trading plan has became much easier since BTC began this bullish sequence. It is no longer necessary to re-position BTC every day or each few hours or even minutes. While some day traders will now make less money than they did during the correction's volatility most people will do far better holding longer term now. I say "Goodbye" to the past month's wild ride and to the day trading I had to do. It was wearing me down keeping up to speed with the market almost constantly to make any money. I like the long smooth, steady advances with an occasional small corrective pattern it is just much less of a headache to be an investor.
WARNING: do not try to trade based on anyone's forecast, especially mine. You are responsible for your own trades you. It is your own money and you should learn to manage your own money as no one else will care more about your money than you do I promise. My published charts are for ideas to consider only, they are not for any person to trade based upon my thoughts. Anyhow, I believe at this point in BTC's path I can sit on a long position for a day or two with low risk of any significant BTC decline. We must remember however that no matter how powerful a bull or bear trend may appear that breaking significant news or spreading of FUD by rumors can undo a powerful trend in seconds destroying the best trading plans. I never enter any trade unless I first carefully weigh the risk of loss because my first rule is " NEVER LOSE MONEY" and I always keep a stop set at a loss level acceptable to me but low enough not to get my position stopped out by a small decline.
I see a significant BTC high coming before the end of the year and very likely by early spring. Fibonacci suggests to me BTC will move to 24,000 and potentially much higher to even 32,000+ depending on news events and such. Is there any potentially important news I have not heard about for BTC? Things like forks that could impact my trade? Please share upcoming news with me as I work outside of trading much of the day and cannot keep up with all the crypto news. Also, please like, follow and recommend me to your friends and in the chat room if you enjoy my charting. I would like to have a larger audience so I can get as many idea to share here that really helps all of us trade better. That is the beauty of chat rooms and other communications we all share with each other.
Okay, lets wrap up the next day or so and what I expect to happen based on my TA and EW analysis. BTC should top current Blue Wave 5 inside the rectangular box displayed or move up and slightly above the box completing Blue 5. The box represents calculated Blue Wave 3 Fibonacci extension which Blue 5 most commonly will reach, the .50% and .618% Fib extensions. I expect after BTC tops wave 5 it will next make a shallow correction in an ABC pattern before again moving higher. So, my thinking is BTC continues upward to Blue 5, followed by a minor corrective ABC structure moving somewhat lower, then moving again above the rectangle box breaking out of the cup n handle pattern as seen on this hourly chart. That is the plan I am trading based upon and it calls for really just hodling my BTC at present as no correction I see is likely that justifies me trading in and out of BTC to increase profit. I love it when my trading plan does not call for me to have to watch BTC carefully much of the day to enter and exit trades due to volatility. While hodling I do not make as much money as during the volatile times but I have far less work to do keeping abreast of what BTC is doing and actually can spend my time focusing on my real job of relaxing doing whatever I want to do.
Go enjoy life - Spend time with those you love.