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I am 40% coins and 60% fiat. My plan is to wait until the price reach very cheap price to accumulate. If the price goes up I will collect some profit and reduce the percentage of the coins in my capital to buy in lower prices. be careful about the strong resistance in the following chart.
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This is my prediction for the next move
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Sorry,
This is a correction for the previous chart. The H&S needs longer time to be well developed
This is a correction for the previous chart. The H&S needs longer time to be well developed
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The opportunity of going up is still valid. I put my target at the chart where I am planning to collect some profit ISA.
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I expect a test for the support 6300 then bounce again to the target line. The reasons for this idea are illustrated in the chart.
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The H&S pattern is confirmed if we break the neck (the green circle) with a stretch in volume. I am bull already and my target is small as indicated at the dashed green line. I use money management which means if the H&S fails, I have no problem. However, if the H&S successes I will have more profit. That is why it is important to follow a money management and do not trade all of your money in one go.
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If you look at the following chart, you will find there is still some hope for bulls. The downtrend is slowing down and formed a falling wedge. It may start a small bullish trend from the right shoulder of the H&S or test the bottom then go up again. I expect that we could test the big triangle again before we continue the downtrend.
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A bull flag is forming now, I expect to follow the green line.
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The same volume of buying. So, I expect that this is a bull trap. I hope the price reach my target at 7300 before continuing the downtrend.
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My target has been achieved. Now I am 25% in BTC and 75% in fiat. I do not care for how much the price will go up because when I buy cheap I will get more profit. My expectation is that we have a huge resistance ( the red rectangular) followed by the target of the H&S and then the downtrend line. So, I expect the price will go down at one of these resistances
