I enjoy your charts. I think it is good to apply some clear logic to what is a completely insane market. I think with Bitcoin you have to either believe or not. Buying bitcoin is a bit like buying gold or silver, you buy physical, put it in the safe and ignore the market price, aka "HODL". Don't use leverage, when it comes to Bitcoin, leverage is financial suicide. Bitcoin could go to zero as easy as it could go to $10,000.
If you choose to trade Bitcoin, do not use stops, it is so volatile you will get stopped out all the time. As you have no stops, your "traders risk" is your position size. Enjoy the ride.
Finally, plan for the "slams", the big boys have deep pockets and can print dollars, use their manipulation to get good entry points.
I enjoy your charts. I think it is good to apply some clear logic to what is a completely insane market. I think with Bitcoin you have to either believe or not. Buying bitcoin is a bit like buying gold or silver, you buy physical, put it in the safe and ignore the market price, aka "HODL". Don't use leverage, when it comes to Bitcoin, leverage is financial suicide. Bitcoin could go to zero as easy as it could go to $10,000.
If you choose to trade Bitcoin, do not use stops, it is so volatile you will get stopped out all the time. As you have no stops, your "traders risk" is your position size. Enjoy the ride.
Finally, plan for the "slams", the big boys have deep pockets and can print dollars, use their manipulation to get good entry points.
Maestro its going to happen. When the emotions start taking over sound investing is when things go wrong.