This is my plan on BTC after looking at the charts.
Currently BTC is at $8216.
I plan on buying as much as I can;
until the price drops below $7531.
That will be my stop, thus liquidating my position.
Resulting in a max loss of -8%
After hitting the low of $6000, BTC ends up rebounding back over the 100 day MA and then finds support as it bounces higher.
When we focus on the area of support around $7500
We notice the wave of buying pushing BTC over $9000 before a pullback,
resulting in a channel testing the 100 Day MA
If the bears win and we break below $7999, we may most likely test $7500.
If we look at BTC with a more patient perspective (2 weeks ago, ha)
We can see that a move above $9500 would be very bullish; a clear reversal of trend.
If I make all my purchase at a price of $8200-$8500
A BTC move to $11,000 testing the next level up, would be a 32% gain,
all time highs would be a 239% gain
and if BTC goes to $59,000 ($1T market cap), my gain is 597%
Not a bad reward for a -8% risk.
Don't forget to follow me on Steemit for weekly updates
Also please join my telegram channel
https://t.me/wealthparlay