Bitcoin ABC up followed by ABC down
Bitcoin going up a bit, might continue or not. It made a new high so we might expect a move higher. Possibilities are endless
But I expect the price to bottom with an ABC and all we've really seen yet is 1 leg down, so I think the bottom will be lower, perhaps around 42k.
The idea is to get something like this with a risk reward of 20 to 1, with the price action continuing to mirror the last run up.
Seems too obvious, but has been obvious so far.
I guess at 200k or better 250k "quarter of a million" euphoria will be at max level and shillers will convince dumb money that it's going to 1 million.
And that would be when they sell, into strength, not when everyone is running for the exits and no buyers are left.
There has to be a good risk reward otherwise I don't see the point. I'll sell some of my btc at 54-55k and look to buy down there with leverage, with a stop.
But I expect the price to bottom with an ABC and all we've really seen yet is 1 leg down, so I think the bottom will be lower, perhaps around 42k.
The idea is to get something like this with a risk reward of 20 to 1, with the price action continuing to mirror the last run up.
Seems too obvious, but has been obvious so far.
I guess at 200k or better 250k "quarter of a million" euphoria will be at max level and shillers will convince dumb money that it's going to 1 million.
And that would be when they sell, into strength, not when everyone is running for the exits and no buyers are left.
There has to be a good risk reward otherwise I don't see the point. I'll sell some of my btc at 54-55k and look to buy down there with leverage, with a stop.
It could crash hard, as low as 30K...
They all celebrate no pullback on the way up but all this creates is a "the harder they fall" situation.