Bitcoin (BTC): A New Decision !!! Check it out....
For Bitcoin, the profit is just too delicious to not take! I've gained about 55% since the last bottom and that is currently beating just about every mutual fund and hedge fund! I'm going to take my money and run! So, I've decided to SELL another 1/3 of my Bitcoin holdings. How will this be done? With DISCIPLINE and EXPERIENCE and TECHNIQUE! Will I sell the remaining 1/3 on top of this such that I would be completely out of Bitcoin? Perhaps and maybe.
Here are my profit taking SELL ladder and the rungs. See how nicely spread out the rungs are? The Blue dotted lines contain 50% of the 1/3 alotment for sale and the rest are spread out to the outer White dotted lines. This is THE BEST WAY to enter and exit positions for me! IT BUILDS WEALTH! It is also a tried and tested method to remove as much emotion as possible! How often have you sold all holdings in a single transaction, even at a profit, only to find prices go above your sell level? Laddering allows you to encompass the maximum range of profit taking.
This way I raise cash and cash is good dry powder for when that Wave IV correction comes. When will it come? I don't know exactly when but it comeths.
Here is the longer term EW count I'm basing on. Wave III top, dead ahead! Once this turn happens, I will sell 1/3 of all my Altcoins to raise more cash because Bitcoin is the moon and it creates the high and low tides in the crypto ocean. The Wave IV i'm referring to above is displayed in this chart.
After Wave IV bottoms, one more massive surge to newer, higher ATHs for Wave V. I am raising cash to buy at Wave IV levels. From Wave V's top, will there be a spectacular crash reminiscent of the tulips? I won't dwell on that part yet as the longer out the time frame, less accurate is EW (for that matter any TA).
If this blog post has entertained or helped you to profit, please follow, upvote, resteem and/or consider buying me a beer:
BTC Wallet - 19gHMJc9wi9KkP47wokz8y4cFNgz1kAAUE
ETH Wallet - 0xf83641dbf1a53498eae6d0d568c969790da48a36
LTC Wallet - LU1mEw1LHvffoWf9VDEVdP7Day4jv6VLqu
EOS Wallet - 0xf83641dbf1a53498eae6d0d568c969790da48a36
Legal Mumbo Jumbo: This is only my opinion, make of it what you wish.
Your information is invaluable. I just sent ya a humble token of appreciation to your BTC wallet! A couple drinks on me! Iv'e bought and held on STEEM and ICN per your charts and can't wait to see how that plays. If you have a moment to check out BNB that would be amazing. I'm very keen on it as it's meant to be China's biggest exchange, and personally I find it much better than the others.
Thanks for the beers! Much appreciated!
Please use this analysis only to augment your DD.
https://steemit.com/bitcoin/@haejin/bnb-btc-analysis-primary-and-alternate
No problem. As I start seeing returns on all my holds I'll be happy to keep the tips coming! It means a lot to have someone who creates data in which to compare to hype.
in your opinion what can we expect the range be for bottom of wave iv? 4025-to...???? 2000 levels??? what would need to take place in order to hit sub 2000 levels???
Per the long term chart, we are approaching Wave III. EW rule states that wave IVs often retrace to prior wave 4. This this case wave (4) as shown in diagram below. If this is true, we should expect $2,000 to $2,500 range.
What would cause it to go below $2,000? Anything. In fact Wave IV can go as low as where wave (1) resides and still be valid. It would be invalidated if it equals or lower than wave I.
Now wave II was a nice looking abc zig zag and the rule of alternation states that if wave II was a zig zag, then wave IV will most likely be a complex correction (XYZ type).
You might want to consider reading about Elliot Wave on the internet or get Robert Prechter's book at www.elliottwave.com but don't subscribe to his newsletters. He makes terrible calls.
According to CNBC's Technical Analysis, Bitcoin might already be on Wave 5 (:
Source:
https://www.cnbc.com/2017/08/14/goldman-sachs-says-bitcoin-may-rise-about-500-more.html
You may also want to look at a chart that has data back to 2013 for long term predictions.
Bitstamp BTCUSD has excellent data, dating back to early 2013 when bitcoin started trading at dollars
Agrees with my longer term base count: