Expect sideways movement once $BTCUSD retests the $6500 region, it might take multiple shake outs and sideways moves before sentiment resets by then, since it will most likely get 'too positive' to keep trending up, and, it also will need time to work through supply from the downtrend mode. This might end up becoming the new '1000 year bull run' uptrend mode in the 2-month timeframe.
The previous 2-M timeframe mode consisted of 10 bars, followed by a trend signal confirmation in the form of a large Range Expansion bar, which was subsequently followed by a retracement in the next 2-M bar, which was a tremendous buy opportunity...). In fact, every time there was a 2-M bullish range expansion, a sizeable correction followed in the next two months, which gave a perfect long entry to increase the returns of bullish traders. I have managed to avoid most large corrections for the most part, and buy near the bottom of each of these retracements in the previous trends, hopefully this time around I can do the same. Sentiment and technicals were extremely useful to ride this trend.
Best of luck,
Ivan Labrie.
TL, DR for lazy people: We go higher, then sideways, don't expect to get rich overnight if long, until after Q4 2019, we won't get a mostly vertical run again.
p.s.: if you needed the short version, it won't hurt you to read more and take more time to absorb information without requiring constant stimuli to keep you aroused. /end rant
The previous 2-M timeframe mode consisted of 10 bars, followed by a trend signal confirmation in the form of a large Range Expansion bar, which was subsequently followed by a retracement in the next 2-M bar, which was a tremendous buy opportunity...). In fact, every time there was a 2-M bullish range expansion, a sizeable correction followed in the next two months, which gave a perfect long entry to increase the returns of bullish traders. I have managed to avoid most large corrections for the most part, and buy near the bottom of each of these retracements in the previous trends, hopefully this time around I can do the same. Sentiment and technicals were extremely useful to ride this trend.
Best of luck,
Ivan Labrie.
TL, DR for lazy people: We go higher, then sideways, don't expect to get rich overnight if long, until after Q4 2019, we won't get a mostly vertical run again.
p.s.: if you needed the short version, it won't hurt you to read more and take more time to absorb information without requiring constant stimuli to keep you aroused. /end rant
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Updated this.
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Long term, remains positive, short term, #BTC facing overhead supply might take time to work through it:
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Good spot to hedge or go to cash. Overall positive developments for the long term trend. I expect a 2-4 month sideways range to ensue before going up exponentially.
Good spot to hedge or go to cash. Overall positive developments for the long term trend. I expect a 2-4 month sideways range to ensue before going up exponentially.
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I'm out of longs, waiting for the market to cool down. It might retrace or go sideways for 8 weeks.
