I'm enjoying the ride as much as the next moon boy, even threw out the Ramen since I can now afford hot pockets, but the $BTC rocket blasters may soon run out of fuel. To ensure I do not have to dig through the trash and retrieve my discarded Ramen, I will be tightening stop losses and locking in profits at predetermined exit points.
A few things to consider: $BTC
.Dominance is retracing to 61.8%, a key Fibonacci level
.Currently in an upward channel in an 11 day bull pennant cycle
.Continues to follow this pattern, it will reach a 2 year resistance around $11500
.If resistance cant be broken, the 5 year log chart support line will be sitting close to $8000
Not all New Money is Dumb Money. Those who bought in Sub $6000/BTC could very easily take their 100% gains
I expect a few more weeks of consistent gains leading into March followed by a retracement of around 25%.
Long Now, Short Later, make money all the time.
This is not financial advice, and even if it was and you took the advice, lost and sued me, all you would get is Ramen.
A few things to consider: $BTC
.Dominance is retracing to 61.8%, a key Fibonacci level
.Currently in an upward channel in an 11 day bull pennant cycle
.Continues to follow this pattern, it will reach a 2 year resistance around $11500
.If resistance cant be broken, the 5 year log chart support line will be sitting close to $8000
Not all New Money is Dumb Money. Those who bought in Sub $6000/BTC could very easily take their 100% gains
I expect a few more weeks of consistent gains leading into March followed by a retracement of around 25%.
Long Now, Short Later, make money all the time.
This is not financial advice, and even if it was and you took the advice, lost and sued me, all you would get is Ramen.
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$BTC retrace to sub $9800 confirms commencement of cycle 5/6...just like it was plotted.