wannabe HTF trend trader since '17 // I’m just thinking out loud, still learning & experimenting // materials for educational purposes so not financial advice
The last time #Bitcoin looked this good was 3 months ago. The "red scenario" full bounce has still not happened, so in the short term, averaging down still seems to be the best option until the next decision point. The yellow path seems to be the most favorable at the moment.
It was too early? Yes.
It was a mistake not waiting for the consolidation on support? Also yes.
But cutting $BTC position is not option for me here, but doubling down is! Even if the red scenario were to play out, a rebound is inevitable.
Holy shit, this GOLD trend structure on the 3M.
Is it really going to 10k in the next few years?
What the hell is the narrative going to be?
I am scared of it.
$XAU
#Bitcoin 3W chart update.
6 months of chop and only -30% at the 780-day mark.
I still think the real parabolic expansion starts here.
As long as 100k holds, no need to worry.
3 more weeks have passed in the meantime:
- #Bitcoin had an obvious sub 100k stop run
- my 8H "bigtrendcatcher" algo signed green at 107k, 1st time since the January 95-100k sell level
- we got a nice 2D trend with enough room for a 3 month bull run