BTC next target 7000?

11 окт. 2019 г.

Hello there!

In my last post on BTC, the idea was that the retracement after the massive drop would take 1-2 weeks and the price goes to 8500 (later changed to 9000) before another journey south. From the current market condition, it looks like the recent spike was a nice manipulation to stop out high-leverage short positions and trigger people into buying. It looks like many traders were ready to buy after 8500 which is not the wisest thought I guess.

I think it is very likely that we keep falling from the current levels, especially after the recent spike happened. The current setup gives a nice risk-reward ratio, up to 4:1 with 300-400$$ stop-loss. For more aggressive entry the RRR can be even higher but it is riskier.

GENERAL RULES TO KEEP YOU SAFE:
1. Do not risk more than 2-3% per trade!
2. Always use stop-loss!
3. Do not FOMO!
4. Do not add to a losing trade

THIS IS NOT A FINANCIAL ADVICE so, please do not follow it if you are in doubt. DYOR!

20 окт. 2019 г.

Заметка

The sideways movement took too long time so I thing we should not expect a drop from here. At most, we can see a spike down and a rapid price rush to the upside. But, I do think that a strong push from 8000 is more likely, maybe a 400$ candle...

I am still waiting for another big drop to 6000 but it looks like this scenario will be postponed until November. Currently there is a good chance for a short-term uptrend. However, I would not advise to enter a trade now, especially selling.

If you like, you may try a small buy but not more that 1% of your account balance. I would put stop-loss around 7800.

Remember: always use stop-loss and never trade more than 2-3% per trade!