Hi all
What a sick 24 hours this has been ! If we are lucky, we can soon party like its 2017 again !
I believe many (especially new) traders have a hard time taking profit and actually selling. I know i struggle with this. Greed takes over, and I want to ride it just a little bit higher. Or, "this is going to bounce and move further up" - hopium. Bears are probably better at this.
Yesterday I sat there watching this topping pattern emerge in front of my eyes, I even drew it up. Did I sell ? NO !
So I decided to look closer at this pattern, and make this chart as a reminder to myself. I hope some of you find it helpful as well.
Its the WXYXZ pattern :
its an ABC down, then a quick ABC up ( to about 0.618 of the first ABC down move. So it makes a lower high)
-this new lower high is the "X" this is where we sell it ALL. ( or short) from here it wil go a lot lower. Usually 1.618 of the first ABC down, measured from the "x".
This takes BTC now to around 10.200 USD.
So, dont ride it down ! Sell the X ! yesterday that was 11.150.
to sell 11.150 , and re-enter 10.200, you get almost +10% btc for your money.
---
Other times this has happened :
---The famous 2017 top - 20k---
-Sell the X - 16500 USD.
-Buy the 1.618 down at 3139 usd. ( close enough !)
---2019 June 14k top---
-Sell the X - 12350 USD
-Buy the 1.618 down at 6300. ( corona brought us briefly lower, keep buying)
---2013 top---
Obviously, if you sell the actual top , thats totally cool :) Let me know where the top is !!! :)
What a sick 24 hours this has been ! If we are lucky, we can soon party like its 2017 again !
I believe many (especially new) traders have a hard time taking profit and actually selling. I know i struggle with this. Greed takes over, and I want to ride it just a little bit higher. Or, "this is going to bounce and move further up" - hopium. Bears are probably better at this.
Yesterday I sat there watching this topping pattern emerge in front of my eyes, I even drew it up. Did I sell ? NO !
So I decided to look closer at this pattern, and make this chart as a reminder to myself. I hope some of you find it helpful as well.
Its the WXYXZ pattern :
its an ABC down, then a quick ABC up ( to about 0.618 of the first ABC down move. So it makes a lower high)
-this new lower high is the "X" this is where we sell it ALL. ( or short) from here it wil go a lot lower. Usually 1.618 of the first ABC down, measured from the "x".
This takes BTC now to around 10.200 USD.
So, dont ride it down ! Sell the X ! yesterday that was 11.150.
to sell 11.150 , and re-enter 10.200, you get almost +10% btc for your money.
---
Other times this has happened :
---The famous 2017 top - 20k---
-Sell the X - 16500 USD.
-Buy the 1.618 down at 3139 usd. ( close enough !)
---2019 June 14k top---
-Sell the X - 12350 USD
-Buy the 1.618 down at 6300. ( corona brought us briefly lower, keep buying)
---2013 top---
Obviously, if you sell the actual top , thats totally cool :) Let me know where the top is !!! :)
Nota
this is an alternate :Nota
Pattern doesnt seem to fit - I believe BTC is going higher, like in the alternate idea
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Le informazioni ed i contenuti pubblicati non costituiscono in alcun modo una sollecitazione ad investire o ad operare nei mercati finanziari. Non sono inoltre fornite o supportate da TradingView. Maggiori dettagli nelle Condizioni d'uso.
Declinazione di responsabilità
Le informazioni ed i contenuti pubblicati non costituiscono in alcun modo una sollecitazione ad investire o ad operare nei mercati finanziari. Non sono inoltre fornite o supportate da TradingView. Maggiori dettagli nelle Condizioni d'uso.