We appear to be ready. 2 day chart on the left. Zoom out if you need.
We have potential for triple bottom (and not a deep bottom for the 3rd leg, which is good) and a breakout of the triangle.
Risk is 11% (unleveraged) to make 37%. However, I typically talk about risk as a % of trading capital, not movement of the market. As a % of risk capital I am risking 4% on this downside stop loss, which is actually very aggressive. It means about 30% of my capital is in BTC right now. This is as a % of my entire NAV quoted in USD.
This means if my target hits: I will return a bit more than 13% on RISK CAPITAL (37% on position)
This theory that other crypto currency will dethrone Bitcoin is unlikely. Liquidity breeds liquidity but on the fundamental side, BTC has slow blocks and most other crypto does not. Combined with the network effect (the amount of nodes and miners), there is a very small chance it will be dethroned. If it is, it will be Ethereum.
Disclaimer: Not financial advice.
We have potential for triple bottom (and not a deep bottom for the 3rd leg, which is good) and a breakout of the triangle.
Risk is 11% (unleveraged) to make 37%. However, I typically talk about risk as a % of trading capital, not movement of the market. As a % of risk capital I am risking 4% on this downside stop loss, which is actually very aggressive. It means about 30% of my capital is in BTC right now. This is as a % of my entire NAV quoted in USD.
This means if my target hits: I will return a bit more than 13% on RISK CAPITAL (37% on position)
This theory that other crypto currency will dethrone Bitcoin is unlikely. Liquidity breeds liquidity but on the fundamental side, BTC has slow blocks and most other crypto does not. Combined with the network effect (the amount of nodes and miners), there is a very small chance it will be dethroned. If it is, it will be Ethereum.
Disclaimer: Not financial advice.