How should I trade my Bitcoin (BTC) right now? October 2nd update. + Free setups!
Picture 1:
These are bullish counts. Note that bearish count exists too. If you wish to see it, leave a comment below and I will upload within 24 hours.
Picture 2:
Here is showing resistance/support lines + trendlines. You do NOT want to trade within 6200~6800 region.
We are currently forming a massive triangle. We can definitely find ascending, descending, symmetrical triangles within this region, which makes it very risky to trade at this very moment.
Picture 3:
These are setups to play with small risk. Everything is based on elliot wave + fibonacci + support/trend line.
Bullish scenario: Buy above $6,800. Target below $7,520. Stop loss below $6,500.
Bearish scenario: Sell below $6,150. Target above $5,550. Stop loss above $6,400.
Your money, your risk. I am only here to help to increase winning probability for you all.
It looks like there's going to be huge volatility soon. Wouldn't surprise me if there's moves that take out stop losses in either direction. This chart formation is so obvious, it doesn't take a genius to work out what people will do when it breaks. I'll just hodl the small amount of Bitcoin I have and maybe add some more if it breaks downwards. I tried short term trading and didn't enjoy it, too stressful for me.
I agree with you 100%. I do not recommend day trading to all beginner to intermediate traders.
Your strategy is definitely less risk!
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