BTC has faced a declining bear market, which started at the beginning of January, driving holders crazy. Like most individuals, I traded the short-term cycles: the 15 mins and the hourly horizon. However, with less than 10K of funds, transaction fees were brutal and real opportunities were limited compared to the bull cycle. Therefore, I purpose a long strategy as the start of the bull season begins.
Logic: In the weekly chart, Oscillator indicates a return to a rising bull market. In addition, MACD indicators support an overbought market, which has reached its peak. Lastly, the current value of BTC is also way below the Bollinger band.
Plan of Action: Take a long position on BTC. This may pay off extremely well in the near future for anyone under 10K of funds. In the worst case scenario, BTC looks to bounce back to 9.5 K to 10.5K. In the best case, BTC may regain massive footing to 12K plus. Therefore, I plan to long BTC and take time again to focus on family, friends, and school, coming back to trading well-funded and balanced in the next couple of months.
Logic: In the weekly chart, Oscillator indicates a return to a rising bull market. In addition, MACD indicators support an overbought market, which has reached its peak. Lastly, the current value of BTC is also way below the Bollinger band.
Plan of Action: Take a long position on BTC. This may pay off extremely well in the near future for anyone under 10K of funds. In the worst case scenario, BTC looks to bounce back to 9.5 K to 10.5K. In the best case, BTC may regain massive footing to 12K plus. Therefore, I plan to long BTC and take time again to focus on family, friends, and school, coming back to trading well-funded and balanced in the next couple of months.