Several weeks ago, I told some family member and friends to invest in Bitcoin. At the time, price was around $10k. One person got in at $25k. Another person got in this past weekend. Another person said they were going to get into Bitcoin soon.
Although Bitcoin is at $48k, it's still early as we continue to get news and headlines of the Smart Money making a move into Bitcoin. But only a handful of the Smart Money is in Bitcoin at the moment....we haven't seen anything yet.
So although the $50k level hasn't been hit yet, my next short term target is $60k....by or before April 1st.
https://news.bitcoin.com/bitcoin-apple-pay-bitpay-google-pay-samsung-pay/
https://finance.yahoo.com/news/morgan-stanley-unit-considers-bitcoin-160050554.html
https://www.coindesk.com/deutsche-bank-crypto-custody-prime-brokerage
MY TRADING METHODOLOGY IN A NUTSHELL BELOW
I’m a supply and demand trader. The premise of supply and demand trading is when the market makes a sharp move up or down the large institutions i.e banks/hedge funds are not able to get their entire trade placed into the market, leaving pending orders to buy or sell at the zone with the expectation the market will return to the zone and the rest of their trading position will be filled.
I use multiple time frame (MTF) analysis to improve my discretionary trading decisions. MTF analysis involves analyzing the same asset on multiple time frames. The rule of thumb when using MFT is you want your charts to scale down/up by 4X – 6X. In my case I tend to look at:
Monthly Charts (curve time frame) – which represents that jet fighter flying over the football stadium.
Weekly Charts (trend time frame) – which represents the concession stands looking down at the field.
Daily Charts (entry time frame) – which represents being on the football field with the player.
4 Hr Charts (entry time frame) – which represents the center hiking the ball to the quarterback.
▶️ 3Speak