BTC Update | Taking Profit
We've seen Bitcoin continue its move into the next FPLP level, highlighted in the previous post!
We've taken profit here on our spot bags. ๐
What's next?
There's increased volume at the highs of the range, within the FPLP level. We're not trading against the trend here, but we are keeping an eye out for potential reversal signs as we're at resistance. ๐
BTC Update | Next FPLP Level ๐
We've seen a nice move upward for Bitcoin! Thought I'd reward all you werewolves for last night's hard work during the pump moon. ๐
Here's the next FPLP Profit Taking level:
๐ฏ $120,388.80 - $123,620.31
BTC Update | Zone 1 โ
Back in July we posted two zones of interest. Today, zone 1 got hit. Bitcoin is currently down 40.5% from where we took profit. ๐
BTC Update | We're Eyeing Bear Market Entries.
Thought Iโd share an update, as itโs been a while.
POWER OF A STRATEGY
The exciting thing about following a strategy is that your emotions donโt come into play. Itโs as straightforward as 1 + 1 = 2.
At the $120,388.80 - $123,620.31 FPLP level, we took profits on our spot bags, leaving only 29% exposed to the market until further confirmation of a trend reversal.
LOGIC OF THE RIBBONS
When one ribbon breaks, we assume price will visit the next ribbon. When a ribbon is tested three times in a trending market, as visible in the quoted post, we assume price will break and visit the next ribbon, in line with simple Elliott Wave theory.
So, since the break of the Mid Market Accumulation Ribbon (MMAR), we were eyeing on the break of the Bull Bear Market Ribbon (BBMR). And since the recent break of the Bull Bear Market Ribbon (BBMR), weโve been eyeing the Bear Market Accumulation Ribbon (BMAR).
APPROACH
This is the perfect time to sit on your fiat, enjoy the money youโve made, and maybe leave the charts alone for a while and work on some other projects. Exactly what Iโve been doing for the past few months.
This doesnโt mean we havenโt been trading at all, but weโre not scaling into any longer term spot or leveraged positions. Weโre waiting for the right conditions to be met, otherwise you'll get rekt. Correct: Like the impatient.
Weโre not eyeing bull market targets right now: weโre eyeing bear market entries. Does this mean it will happen in the next few weeks or months, and that it will go straight down to these levels? Maybe, maybe not. But who cares? Correct: Only the impatient.
KEY LEVELS TO WATCH
These are the zones weโre keeping an eye on, zones I posted back in July. This is where we will be accumulating, and where we have positioned our orders:
Zone 1: $68776 - $74,508 (Updated Lower End)
Zone 2: $42,580 - $49,000
BMAR Range: $49,200 - $70,000
TOTAL MC (Lower End): 1.58T - 1.69T
REMEMBER
So called "influencers" will always buy and shill at the top. Bitcoin has already dropped 36% from their โnon-financial adviceโ, currently sitting at -31%.
Stay safe people! ๐
UPDATE | @ChartUnion Relocation & Payment Pause
Unfortunately, this year we've found Romania to be less than welcoming for smaller businesses. So, we've decided to wrap things up there before the end of the year.
Last week, we finalized all the paperwork, sold the local company, and are now officially relocating the ChartUnion brand and operations back to the Netherlands!
As part of this transition, Stripe payments are paused until further notice. If you're looking to renew your subscription or grab one of our current offers, just shoot me a DM or email [email protected] ๐
BTC Update | We're Eyeing Bear Market Entries.
Thought Iโd share an update, as itโs been a while.
POWER OF A STRATEGY
The exciting thing about following a strategy is that your emotions donโt come into play. Itโs as straightforward as 1 + 1 = 2.
At the $120,388.80 - $123,620.31 FPLP level, we took profits on our spot bags, leaving only 29% exposed to the market until further confirmation of a trend reversal.
LOGIC OF THE RIBBONS
When one ribbon breaks, we assume price will visit the next ribbon. When a ribbon is tested three times in a trending market, as visible in the quoted post, we assume price will break and visit the next ribbon, in line with simple Elliott Wave theory.
So, since the break of the Mid Market Accumulation Ribbon (MMAR), we were eyeing on the break of the Bull Bear Market Ribbon (BBMR). And since the recent break of the Bull Bear Market Ribbon (BBMR), weโve been eyeing the Bear Market Accumulation Ribbon (BMAR).
APPROACH
This is the perfect time to sit on your fiat, enjoy the money youโve made, and maybe leave the charts alone for a while and work on some other projects. Exactly what Iโve been doing for the past few months.
This doesnโt mean we havenโt been trading at all, but weโre not scaling into any longer term spot or leveraged positions. Weโre waiting for the right conditions to be met, otherwise you'll get rekt. Correct: Like the impatient.
Weโre not eyeing bull market targets right now: weโre eyeing bear market entries. Does this mean it will happen in the next few weeks or months, and that it will go straight down to these levels? Maybe, maybe not. But who cares? Correct: Only the impatient.
KEY LEVELS TO WATCH
These are the zones weโre keeping an eye on, zones I posted back in July. This is where we will be accumulating, and where we have positioned our orders:
Zone 1: $68776 - $74,508 (Updated Lower End)
Zone 2: $42,580 - $49,000
BMAR Range: $49,200 - $70,000
TOTAL MC (Lower End): 1.58T - 1.69T
REMEMBER
So called "influencers" will always buy and shill at the top. Bitcoin has already dropped 36% from their โnon-financial adviceโ, currently sitting at -31%.
Stay safe people! ๐
Exactly 4 months ago, we took our first round of profits at the $120,388.80 - $123,620.31 FPLP level.
Today, Bitcoin is down 23.5% ๐ฝ from that zone and arrived back at the Bull Bear Market Ribbon (BBMR). It acted as support twice during this run-up.
Third timeโs the charm? ๐คทโโ๏ธ
@OznovaPam@AlienSlimePet Well, there's a certain group of people spamming my notifications, not mentioning any names ๐ Sorry if I missed anything Pam! And thank you! ๐