Well last time i looked at bitcoin it looked to be ready for a little pullback. BUT yet again it has surprised us once more lol. IF you dares to sell then you would of had a SL hit for sure. Just look at that bullish movement. But where is it going?
were defo a big bull, can we get in a buy on a small pullback? OR are we waiting for a possible multiple year Double Top for the drop? Either way its exciting at the moment. Let me know your ideas below. GLIYF
Bitcoin will pullback, but maybe not anywhere near to where many of you guys want to load up.
In bull markets prices surprise to the upside, leaving many of those who want to buy at lower prices out of the move.
Only when prices have already ran away from them to do they panic buy, usually at the exact wrong time.
With that said there are always decent entry points to get in, but if your looking at retreats to major moving averages, fib levels or trend lines you might be disappointed
One thing of interest right now is how sentiment is far from extreme - I havenât heard many outside of trading forums talking bitcoin - clearly a bullish sign.
From which level do you think it will pullback?
Look at the famous Bitcoin . Where is it going? Are you trading it currently or are you holding coins in a wallet? Whats your plan of attack? Were virtually at the all time high currently. Will we break it? Or will we see a big double top? There must be many FOMO buyers buying bitcoin at these price thinking it will go up alot more. Will the big boys take profits and use their liquidity to move it back down? Im always ready for a sell off from all time highs with signs of a reversal. These are my ideas. tell me yours below. GLIYF
Thank you for the analysis! I hope it breaks out above 20k!
Anyone catch my last post for BTC? the levels were all marked out. Price went right up to the ATH and well you can see what happened. VERY easy sell for a few thousand pips if you took it. But what is in its plans. Well we have made a new ATH but we still havent hit that magic 20K number still $18 short. Price kooks to be rejecting the level again. Wikl it drop or are we going higher? let me know your thoughts below
Has anyone entered sells on BTC? i know i have, this 20k zone seems to be BTCâs sticky point. Ive had minimal time in DD and the daily candle highs are getting lower. Im holding my sells, for now. I dont think we will see past 20k for bitcoin this year. i could be proved wrong, but it has to break that strong zone to do so. Did anyone join me on the ride form my last post? GLIYF
Back on Bitcoin again today. Many laughed at me when i sold from that ATH . But im now sitting on 1100 pips in profit 
i think its possible we could see a further drop to the zone below which is where i will probably take profits and start looking for buys. Depending on what happens with price action. I have my SL already in 500 pips in profit so even if it does push from here i will make profits. Thats what intra day trading is all about. Hopefully some of you followed GLIYF
I was really hoping it will break out above 20k before December 31st.
Well take a look at bitcoin . Finally we have pushed to an all time high and over the 20K barrier. I was selling previously from the old all time high. As always i advise to lock in profit when intraday trading bitcoin . My stop loss was set to 1K pips in profit so no problem with it turning. Now whatâs the next possible trade? Do we look to get in on the buy, or will it fall from the sky? will it retest 20k and push further up? let me know your thoughts below. GLIYF
I am just so glad it finally rallied above 20k! 
A Year Look Back AT Bitcoin - Well look how far bitcoin has come this year. Incredible the movement it has had. March it tipped just under the $4K mark, and roll onto this weekend where price tipped over $24K. Ive really enjoyed day trading on my LonghornFX account this year, if you followed many of my posts then you should of made a lot of pips this year, mostly looked for buys along the way and many TPâs have been hit. Even if you bought just 1000 worth of bitcoin back in march you would be sitting on 5X your money at least. pretty incredible if youâre a HODLER.
Have a good XMAS all, more setups to come in the new year
Well look what Bitcoin has produced over the last few months, it has been incredible. But what can we expect next? Surely we should see some sort of pullback in price. I think the difference now i that institutional money is now involved. Im sure everyone would be looking for it to come back to 10K or below to load up their wallets to HODL. But can we see that happen again? Im not so sure. iâve heard some %s being thrown around maybe 18K. Ill be looking at the standard short term trendline and also the longer term trend line to be buying in again. Let me know your thoughts below. GLIYF
Todayâs post is more about the incredible movement we are seeing with Bitcoin . 31.5K today at it peak? I find it amazing that it moves this way. But whoâs buying and whoâs selling? Obviously it would be pretty silly to just jump in and buy now right? or not? I know where id like to buy in from and we are far away. Where will the top be? Let me know your thought below
Every day Bitcoin doesnât fail to amaze me. Just take a look at those movements. We can see it all in a big picture here. Bitcoin has TEN FOLDED since march 2019. Where else can you get those returns on investment of youâre a holder. If you invested just ÂŁ1k in march 2019 you would now be sitting on ÂŁ10k. Truly amazing!
BUT it will come down at some point, wheres the top? Where can we buy in for the next bull push? Im hoping it comes back down to the previous ATH of 20K area as the support for the next push. No one can be certain, but interested to know your thoughts.
Hi Leebax,
I agree with your sentiment entirely. We have only been in crypto since Jun20, so I guess we are newbies. I had made an investment plan in May, but have revised that three times since, the most recent revision being mid December. And that was to incorporate a degree of trading into our longer term investment plans.
The first âelephant in the roomâ that featured in our most recent plan was to recognize the importance of the total market cap, which has just gone over a trillion dollars up from 420bn when I first started studying the crypto market. On a daily basis, the first thing I look at (on coingecko) is the market cap. That gives me an idea, on a daily basis, of where I may reasonably expect our current crypto holding to be. Eg. If market cap is $1,005bn where yesterday it was $950bn, then I may expect our portfolio to be 1005/950 higher (or 10.5%). That allows a psychological adjustment of expectation.
The next thing I do (again, using coingecko) is to scan down the top 50 cryptos by market cap, and to look at the 24hr, 7day and 30day changes in values. This may be an extremely volatile period, but looking back over other time periods, it has been repeated. There is a box you can tick (BTC) that expresses the graph of the crypto in terms of BTC besides USD.
Whilst adding the trading part to our investment strategy, and before really completing the 2021 plan, I observed that the price of other cryptos as a proportion of BTC can vary widely even over a short period. I sold half our BTC holding for ETH when the ratio was 36.36ETH = 1BTC, and wrote down that we would reverse that trade within a month for a 20% gain, within two months for a 30% gain or within 3 months for a 40% gain. On the graph, I bought at 1ETH = 0.0275BTC. That was 20Dec20. By 5Jan21, it was close to my first target so I put in two buy orders for BTC /ETH - one at 0.0334 BTC, the other at 0.03448BTC. Both orders triggered just before midnight. On a 16 day turnaround we achieved a 21% and 25% gain.
They say first time lucky, but my mind is now focussed on relative value, rather than on USD cost or value. In the current market we have done a lot more selling than buying (Alts), so have a higher than expected holding of USDT at the moment, but I am more than comfortable with our trading addition to our longer term investment plan. Iâd rather look at how I may most cost effectively increase our BTC holdings on a regular basis than on a big bang approach. Iâd rather buy an additional 10% holding of BTC at $40K than double our holding. I continuously monitor the average input cost of our BTC holding, which is just shy of $10K per BTC. By exercising the ratio trading plan I hope to add to our holding by between 50% and 100% during 2021.
thanks for your detailed thoughts
He who dares wins right? Or is it suicide? Surely technicals should come into play at some point right? Or are they totally out of the window? Was that that the short term top? No one knows for certain, but i did chuck a little sell on my account. Locked in as risk free so lets see how it plays out. i dont lose anything if it decides to keep bulling. Whats your thoughts?
Last post i showed where i sold Bitcoin after that daily candle closed as a Doji . Simple technique i usually use for reversalâs. Some people said i was mad, but i was sure technicals had to come into play at some point. Glad i chose that point as now im heavily into profit. i have moved my SL 7000 pips into profit as its bitcoin and it could just easily switch bullish in a moment. Noticed some divergence also so banking the profits where i can, as we need to when daily trading. GLIYF
Well my SL was hit on the Bitcoin sell, but thatâs totally fine with me I banked 7000 pips. Itâs also what day trading is about. Getting on on price action and securing your profits. But also it now gives us some structure to work off for the next trade. We have an ATH of 41.9K so this gives us a resistance zone to see what price will do if it reaches those levels again soon. For me its the same setup. ill see if we get any reversal signs and look for the sell here again. I think we have more downside to come before another big push. whats your thoughts?
