BTC buy zone - short-term swing
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Hi, thanks for viewing.
I am targeting these levels as an entry point for BTC; between 28,570 and 27, 737. It may not get there... or overshoot of course. So, I will buy some at these levels and watch for signs of support if it reaches that zone... if I can get a higher low with good volume I will buy the rest when I see this.
Where to after that? I don't know... A quick 15-20% bounce is my worst-case scenario. I am targeting a 20% gain within 2 weeks. I haven't decided if I will sell up or just take some profit and let the rest run - hoping for a new all-time high. I am an optimist, and hate missing out on gains... so probably stay in for a while. This is just a small trade... still holding some longer-term from Dec 2018 and March 2020. Sold most already, things are a bit frothy, but I see an upcoming opportunity for re-entry.
Anyway, lets see how things go... good luck everyone and protect those funds.
I am targeting these levels as an entry point for BTC; between 28,570 and 27, 737. It may not get there... or overshoot of course. So, I will buy some at these levels and watch for signs of support if it reaches that zone... if I can get a higher low with good volume I will buy the rest when I see this.
Where to after that? I don't know... A quick 15-20% bounce is my worst-case scenario. I am targeting a 20% gain within 2 weeks. I haven't decided if I will sell up or just take some profit and let the rest run - hoping for a new all-time high. I am an optimist, and hate missing out on gains... so probably stay in for a while. This is just a small trade... still holding some longer-term from Dec 2018 and March 2020. Sold most already, things are a bit frothy, but I see an upcoming opportunity for re-entry.
Anyway, lets see how things go... good luck everyone and protect those funds.
Note
Nice bounce in the last few day. I am still waiting for the end of the correction. What I labelled the wave (i) low was 33,850, so I was looking to see if the bounce since the 22nd of January surpassed this price level... it hasn't so far, topping out at 33,826.53, and has since been sent lower. Volume has been dropping since the 22nd.Wave C always has 5 sub-waves and nothing has yet met normal extensions. I am still waiting for either a break above 33,850 which will indicate a buy, or a price correction to below 28,000 for a buy opportunity.
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