Hope this idea will inspire some of you ! Don't forget to hit the like/follow button if you feel like this post deserves it ;) That's the best way to support me and help pushing this content to other users.
Thx for very detailed view. If i understood you correctly you are 80%+ sure we will see big drop so i dont understand why you didnt sell 80% of whole balance you bought at bottom?
PRO_Indicators
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@s3cr3t44, Buy&hold scenario is for a way longer timescale. My initial plan was to secure the trade with a 25-50% TP over the first bullish wave. That's exactly what I've done so far ! The remaining cryptos I have are now locked on a hardware wallet, not meant to be traded !
Taiwan_Bear
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Good as usual Phil. Finally someone here on TV to tell others to take some profits now instead of calling 20k+.
UnknownUnicorn995432
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Excellent analysis... many thanks Phil
KryptonuQ
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Very good content, keep it up!
ReallyMe
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Excellent analysis. I agree, for the time being the beast just keeps on running uphill, that's right. ;-)
But if one thing is for sure, it's the fact is that there will be a time when the price will pull back
to the red line for a re-test to make sure the support is still working. It has always done this in the past (see yelow circles). It will do it again. The question is not if, but when.
Then, if the red line still works as support and the price bounces off it and starts going up again, that's a good time to step back in, in my opinion.
Numbers signify nothing, it could be at 6k it could be at 9k or it could be at 12K, the exact number is not important. Understanding what your plan is and sticking to it is important. YMMV ;-)
PRO_Indicators
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@ReallyMe, Intersting, but what matters the most to me here is to see that back in late 2016 (what seem to be nowaday's equivalent) the consolidation ended up overselling the momentum below 30 RSI. I expect pretty much the same and at least a 3m corrective structure. Back in 2016 we built a barrier triangle structure, I doubt we'll go for this one now. More likely an ABC I guess, but all this remains to be seen !
PRO_Indicators
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@PRO_Indicators, *** late 2015 (not 2016) for nowaday's equivalent
ReallyMe
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@PRO_Indicators, Absolutely. I've been saying that since January 4, 2019 that after three supercycle motive waves up (2011, 2014, 2017) we might be in for a huge A-B-C correction this time around.
I am not yet saying that I was right, it is too early to judge, but it still looks possible to me:
PRO_Indicators
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@ReallyMe, All I know is that I'm not buying until we built a solid higher low point near 61-76% retracement of this wave (or even a bit lower). And if we ever fail to do it, then yeah next step is close to 1800$ area for an even longer time period (pbly sticking there for a year)