Bitcoin Channel = Buy, Hold, or Sell ?
Here is a 3 Day Channel that goes all the way back to 2018.
If we break out of the top of the channel like in 2018 I will hold until a top forms and then sell some before the next bear market. If we go to the bottom of the channel I will buy and then hold as we go to the top or out of the top of the channel again. If we break the bottom of the channel I will hold and then rebuy around the new bottom and DCA up again for the next bull market. (Breaking the bottom of the channel assumes we have already broken the top and taken some profit to redeploy later)
Since all of my objectives are long term (years) my only real sell target is the top of this Bull Run so as to build back a larger cash position for the bottom of the next bear market.
I do not think we are at the top yet. This is a mid-market pull back that should either bounce right now at the mid-line of the channel or at worse can turn at the bottom of the channel and then continue to new highs never seen before.
That is the point I will take a few chips off the table.
Simple chart, simple plan.
No matter how you play it between now and the end of the year, good luck!
BBS Out!
If we break out of the top of the channel like in 2018 I will hold until a top forms and then sell some before the next bear market. If we go to the bottom of the channel I will buy and then hold as we go to the top or out of the top of the channel again. If we break the bottom of the channel I will hold and then rebuy around the new bottom and DCA up again for the next bull market. (Breaking the bottom of the channel assumes we have already broken the top and taken some profit to redeploy later)
Since all of my objectives are long term (years) my only real sell target is the top of this Bull Run so as to build back a larger cash position for the bottom of the next bear market.
I do not think we are at the top yet. This is a mid-market pull back that should either bounce right now at the mid-line of the channel or at worse can turn at the bottom of the channel and then continue to new highs never seen before.
That is the point I will take a few chips off the table.
Simple chart, simple plan.
No matter how you play it between now and the end of the year, good luck!
BBS Out!
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