Why Bitcoin won't drop from here

14 окт. 2023 г.

Hello Traders and Investors,

My name is Philip and I am a German swing-trader with over 4 years of trading experience.
I only trade the higher timeframes, preferably the monthly chart, because this allows me to capitalize on the major market swings.

I view trading as a long term game over the next 20 years which will help me to build massive wealth - it is not a get rich quick scheme.

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Today I want to share with you my outlook on Bitcoin:



In the beginning of 2023 Bitcoin perfectly retested the previous cycle high of 2018 and already perfectly rejected this key structure level towards the upside. Since we had a cross support at the $17.000 level, there is a very low chance of Bitcoin breaking below this level at all.

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Most of the people always follow the quick money. But the quick money is never the big money.
They think that making 5% a month consistently is reasonable, which is one of the reasons why so many traders fail.

The only think which you can control is your risk, everything else is unknown.

Keep your long term vision!