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Bitcoin BTC analysisUpdate from my last bitcoin analysis. Short term bullish (net 3-6 months), long term, we'll see once we retest the red lines indicating resistance & then fall back & hold the white diagonal line, signaling a trend continuation to the upside. If this happens, that's when I'll look to add to my crypto positions. News does't matter to me. I'm a trader. All trades show up in the chart. Talk with no trades taking place = distraction. Only cryptos I'm taking seriously: Bitcoin - just to trade & make money Ripple/xrp - if governments/businesses allow it as payment or the ledger gets used by large investors Solana - only because its used heavily in gaming XTZ - I was in it for the rate of return but they've dropped that from 6 to 3%, so I'm not adding as much Cardona/AAVE - small positions just to see if the tech gets taken seriously (not betting big on these)
COINBASE:BTCUSDLong
by BillionaireTomBoi
Beware of the Market at these levels (SPY SPX) I haven't posted in a while because since I entered a position in my SPX index fund, there hasn't been much to say. Until now. I'm posting this chart to show my updated levels & chart analysis. I'm NOT adding to this position until we retest the (diagonal) white line, indicating the current trend that we are in. At which point, we will either hold the trend for a breakout & retest of the high, or fail to the previous support level (horizontal white line at $3511.80). My green & yellow lines drawn indicate the projected path that price will most likely take, as we retest this heavy selling area that we are now hitting. I'm short term (next 3-5 months) bearish/short. Long term (next 1-3 years) bullish/long, after another significant drop in price. Since this is my Indexed retirement play, I don't plan to take any profits, only add to the position on price drops. May daytrade short positions into the resistance for the next few months.
SP:SPXShort
by BillionaireTomBoi
Careful with Bitcoin at this levelBitcoin has just retested it's previous level of downward pressure. This could just be a pullback which will push us above the highs or a failure back to the $35,000 level. The current candle formation, within this short term downtrend, is showing to be extremely bearish. Look for price to retest one of the solid white lines I've drawn, before adding to you positions, as we are in a neutral zone right now & could head either way, regardless of fundamentals. See my previous posts, as I am still holding shares from my original entry below $20,000
COINBASE:BTCUSD
by BillionaireTomBoi
2
Bitcoin position updateI'm still long Bitcoin from the $9,000 area. See my previous analysis, linked below. Mass adoption of crypto for payments, money transfers, & store of wealth is still possible, but in my opinion, not yet 100% reality. I'll go into more detail about my fundamental analysis at a later time. For now, these lines shown on this chart indicate the technical trend that Bitcoin is following. I don't plan to buy large quantities of more Bitcoin until price drops to one of these lines. If you are just entering the Crypto investment world, I would be cautious when spending a lot on Crypto currencies at this time. Ethereum & a few other Altcoins are the only thing I'm adding to in my portfolio at this time. This is my risk tolerance at these price levels. Conclusion: It wouldn't hurt to put a little money into any crypto right now, however, invest as if its all gone & you won't get it back. BTC & ETH are the leaders in the crypto space & it will take a while for others to catch up. I'm really watching XRP, as I owned it before their government ban & wrote about it in several previous analysis'. They have won their lawsuit & should be re-listed any day now. I'm adding more anywhere I can find it & slowly moving my crypto offline onto a hard wallet. No one knows where bitcoin will end up but if you're excited about getting into investing, take this opportunity to fully educate yourself about financial asset markets, fundamental & technical analysis, & blockchain technology in general! Thanks for following me & reading my trading ideas!
COINBASE:BTCUSDLong
by BillionaireTomBoi
Best place to scoop up more Bitcoin ! ! [BTCUSD] Short explanation: Wait for price to drop to my drawn lines before buying or adding to your positions. These lines indicate the areas that the big buying is currently taking place in bitcoin...AKA the uptrend Long explanantion: My drawing projections aren't always 100% accurate, however, it's all about direction & areas of obvious buying pressure. The lines I've drawn show the clear uptrend that bitcoin has remained in for the last few years. I won't say bitcoin is going to $1Million right now but I will say that when it drops again, I'll be adding to my position if price shows bullish candle sticks near the lines drawn. I wouldn't be buying right now. You should already be in at lower levels, even if you plan to daytrade. From my perspective, $15,000 is the nearest magic number to be buying. Failing $15,000 & dropping back below $10,000 is surely possible, as anything is. However, if these ORANGE trend lines continue to hold, no amount of bad news will stop bitcoin from breaking above $20,000. I'm also into other altcoins, as there are several that are undervalued in relation to bitcoin & show just as much promise, as large investment companies pile in. I'm a fan of Ethereum ETH, Ripple XRP, & Telos. I've got a few other random ones that I'll keep buying under the $1 price & will keep adding to as long as their tech stays promising in the news. I'm more of a technical trader, meaning I make my decisions purely on what the chart shows. However, when billionaires like Paul Tudor Jones get into Bitcoin or Warren Buffett gets in on Gold, I know I've got to have an ear to the streets. As long as the charts say buyers are staying in, that means we stay in! Don't over leverage though! Don't keep adding when price is getting higher & closer to high pressure selling areas. Take a little profit if you feel the need but wait for price to drop before adding more. This keeps your risk to reward in a more optimal position. Buy & sit. If you feel anxious, open a Forex account & day trade oil, gold, or US30...I use FxChoice.com for that. I'd say get Etrade.com & trade stocks but stocks are slow in comparison to commodities & indices like DE30. Forex pairs like EURUSD are great for beginners, as they are cheap, move slower, & you'll lose less money when you do trade. PRACTICE ON TRADINGVIEW.COM's fake account until you are confident to take on real money. I've taught my kids everything I know & they a little spending money for now, so I know you all can do this! PRACTICE...
COINBASE:BTCUSDLong
by BillionaireTomBoi
1
Oil Bearish - MY BEST ANALYSIS SO FAR!!This is a retest of the Hell that broke loose. Ask youself a question...If there was that much selling here, what's the probability that price will fall big the next time price comes here again? If the answer is more than 50.1%, you should probably take the trade. Price might not be guaranteed to fall as far but you've got a clear signal that you could bank at least a little profit in this area. This is what trading is. A game of probabilities. Your job is to trade at times where there is the most probability of price moving big, in a certain direction. Naked trading is just that simple. Trading the bigger timeframes helps keep the markets in perspective. The SECRET is to get out of a trade that looked good but isn't so good after a while. You've got to be disciplined when you know you just need to take the loss. Like in a relationship lol...ALWAYS WIN bigger than you lose! YOU ALL CAN DO THIS! You can use trading to change your life & everyone around you!
FX_IDC:USDWTI
by BillionaireTomBoi
1
BTC $13,000 Target hitSee my previous BTC analysis'. As long as we stay above $8,000, we WILL retest $20,000. This move will more than likely take another 3-6 months to complete. I've got Bitcoin in my long term account & don't plan on reducing my size until at least $15-18,000. I plan to Daytrade all 1 hour pullbacks for income trades, over the next few months. Buying at key Fibonacci levels that match up with Volume Profile support levels is about the easiest way to kill this market right now. As for stocks, I'm in & out of US30 but if we fail $28,000 I'm shorting for the next 2 months. I am NOT selling my long term stock positions. I plan to continue to hold all my current stock positions. Why? 1. Most of my positions are dividend stocks that I'll make money from regardless of the price drops. These positions include everyday things that people use like - water (WTER), gas (XOM), REITS (real estate), etc... 2. My other holdings are in 10-20 year growth stocks, in the tech sector. These positions include things like space & telecommunications companies. I have my personal reasons for being in the companies I've chosen, as I understand their growth potential & what they are bringing to the future of humanity.
COINBASE:BTCUSDLong
by BillionaireTomBoi
4
SPY rejection, then NEW HIGHSReguardless of the world's current events, you better believe that stocks can rally to new highs & continue climbing. Reguardless how many people die, businesses fail, or governments collapse, this can happen. 1. The real people/companies/funds who have the money to keep in financial markets play their own game & are not about to let it fall apart. 2. The richest people/governments have no choice but to keep their money in assets, this includes financial. They see money as the real tool, resources, & asset for driving more revenue. They don't get scared out of financial markets just because asset prices fall. You can learn that from the JP Morgans & Warren Buffets of the world. 3. This exact place we are at is a mirror of the same places we've been at time after time, generation after generation. This is a mirror of a cycle that will continue to occur, as that is the nature of attaching human sentiment to market behavior. 4. This is a numbers game that can be manipulated on so many levels, including corporate debt restructures, currency valuations, & government intervention. ASSETS CAN RISE INDEFINITELY AS LONG AS THERE IS A MARKET FOR THEM TO BE BOUGHT & SOLD IN + WILLING PARTICIPANTS! It is within the best interest of every high-net individual to participate in asset markets, as they allow the opportunity for capital appreciation with limited associated costs. Conclusion: the market could fall & retest the low for all I care, but you better believe it could recover & double in a blink. The GREEN line I have drawn is a level of support that, if held, will provide enough momentum to provide a substantial breakout for financial markets across the globe. Disclosure: I am anticipating a short entry but only down to the GREEN line. At which point, I will not fight the proven upward momentum & will be anticipating the opportunity to build a LONG position... SHORT TERM I'M BEARISH, LONG TERM I'M BULLISH.
AMEX:SPYLong
by BillionaireTomBoi
Continuation projection for BTCUSD Bitcoin, next few weeks.Quick update on my previous Bitcoin entry LONG. Things to consider: 1. Diagonal trend breaks (Descending wedge patterns) are generally the most predictable & strongest breakout patterns. Not that I'm a "pattern" trader, its just that charts with lots of liquidity have generally predictable behavior. 2. The 1st projected target was hit & there hasn't been a substantial pullback since the breakout. That being said, pullbacks beyond 30-50% retracements at this point will be good day trading setups (as the bullish momentum has proven to be strong). 3. Long-term, BTCUSD IS STILL IN AN UPTREND on daily & weekly timeframes. In a month or so, a strong resistance could be hit & this story could have a very bearish end. Conclusion, Profit Target #2 is a predictable resistance that all descending wedge patterns hit. I have taken profits on my day trade entries. My long-term account however, is still a hold for me, as I started buying heavy into bitcoin around the $3-4,000 level. The only thing that would have me questioning my position is: A. if we fail hard at this 2nd Profit target I have marked. B. if we fail the whole diagonal level that I entered (on the 1 hour chart) & cant get back above these levels. Again, this is a 1-4 hour analysis, so hitting profit target #3 OR failing & going into a bear market is too early to tell. Either of these moves giving us a clear long-term direction, could take up to 3 months to play out. Just being realistic (based on my market experience) with my time projection.
COINBASE:BTCUSDLong
by BillionaireTomBoi
BTCUSD 1st breakout target hitThe 1st profit target for my previous post has been hit. This is a great place to take partial profits, if you entered that trade with me. If BTC is to continue higher to the next targets (noted in purple), price will need to hold above the GREEN line I've marked. This is a diagonal channel breakout, however, it does NOT guarantee a continuation back to the highs. I will continue to update this trade weekly. Either of these projected moves will take a few weeks to play out.
COINBASE:BTCUSD
by BillionaireTomBoi
Stocks hold or sell?My analysis of SPY weakness. I've marked short-term support & resistance, as the SPY, DOW, & other US indicies are retesting the latest crash. I would not be calling this a bear market yet, although I did enter a SHORT position on Friday. In the most recent crashes we've had, we've always managed to double bottom on the retest of a crash & then move on to make new highs. A retest of the lows is realistic, however, if we make a double bottom support, I wouldn't be shorting stocks or indicies at that point. Again, I've only been trading the SPY (Forex: US500) & Oil (Forex: USDWTI) this year. The price moves of regular forex pairs don't even compare when it comes to quick AND LARGE profit potentials. Not even Gold can compete, when we're talking about daytrading… As for my RSI, I'd be expecting further weakness & remain in my short trade if the RSI retests the upper threshold & then makes a lower low. This is a good confirmation indicator for continuation of weakness.
AMEX:SPYShort
by BillionaireTomBoi