[XBTUSD 4H CHART]

Now looking even closer.

I don't know if I need to talk anymore, I believe the chart speaks for itself.

But let's clarify some facts.

- The pink band is the most important long term uptrend line actually.
- In this same region is the mid-term descending channel support line, which is also of extreme importance.
- In addition we have the $6500 region which is the last support formed by BITCOIN within the channel.

These are the main reasons that bring me a great expectation regarding making a STRONG BUY in this zone, it is a point where there is a convergence of medium/long term factors that corroborate the decision making. In my view, this is one of the best opportunities at BITCOIN since March/April.

My expectation is a touch on the uptrendline in pink, with a fakeout that will make a wick near $6300 on the daily chart [Maybe not today]. However, due to the great expectation that I have in this trade, I will start my position near $6500 and split my bids in two different points.

🔔[@XBTRADE CALL]🔔

Capital exposure: 30% of your balance [total]
Leverage: 10x

[1] ENTRY POINT: $6544 [15% of your balance/10x leverage]
[2] ENTRY POINT: $6354 [15% of your balance/10x leverage]
STOP-LOSS: $6100
EXIT TARGET: $8520

[Risk:Reward 1/5,61]
Projected net profit: 96,34%
Projected stop-loss: 17,16%

This is how I will be mounting my position. If you have a conservative profile and don't want to risk such a large part of your portfolio in this trade, you just have to reduce the % of your balance that will be used on buy orders, or reduce leverage.

If you have any questions about this call or the analysis, you can talk to me through the @XBTalks chat or in private @XBTJacob.

Lets make a brief game:

[So here are the conclusions of the "Game"]

88% of people voted for SELL on the chart I posted earlier.

In the second survey, 81% answered that they are BEARISH on BITCOIN currently.

Ok, so far so good. The problem is that the chart I posted is simply the BITCOIN UPSIDE DOWN CHART.

So actually people who said they would SELL that chart would be BUYING bitcoin. Did you understand?

[Check]

This is the "Normal chart", the last one was upside down.

This was just a game so I can show you how often emotions end up directly affecting our decisions. In trading and investing, you always have to act by pushing emotions away, otherwise you're bound to fail.

Think about it.

[LONG RUNNING]

First bid filled at $6544.

Nice move from the entry, update soon. 🧞‍♂️

Ok. Lets make some changes:

1 - Cancel the bid order at $6354;
2 - Move the stop-loss from $6100 to $6770;

Locking profits already. I'll think about adding more contracts to this position if I see any interesting opportunities.

Link to the channel's chat.

t.me/XBTalks

Enjoy.

How to be profitable by trading BITCOIN in 10 steps

1 - Do not get in unnecessary trades;
2 - Do not trade based on timeframes less than 1h;
3 - Do not trade based on news;
4 - Look only at the relevant exchanges chart;
5 - Do not look at the chart "every minute";
6 - Be patient, just get in easy trades;
7 - Have good risk management;
8 - Never use a stop-loss less than 1%;
9 - Follow @XBTrade :)
10 - Be patient once again; [Meditate if you want]

TOC TOC.

Again in the channel's middle line.

[New change]

Move the stop-loss from $6770 to $7027.

Locking atleast 11% in profits (In the whole balance) if the stop-loss is reached

I am always talking about profits in USD. I'm a trader and not a holder, so what really matters to me is my USD balance. I keep a portion of my portfolio at bitmex for use in leveraged trade and the rest remains in USD on other exchanges.

[Update]

We still holding our beautiful LONG open at $6544, now with a stopgain at $7027 which already guarantees us good profits. Still seeing potential for upside, it looks like we're consolidating above an important support in the $7000+ range.