Mission possible: sell at the highest on October

3 Okt 2023

Greetings, fellow traders! Since the BTCUSDT.P dump in August, many crypto experts have maintained an extremely bearish bias. However, popular choices like BNBUSDT.P have defied expectations, leading to losses for followers who trusted these experts opinions, it is evident that the August dump lacked conviction for a true bear market. However, caution and constant vigilance are still necessary for sustained profitability.

Personal Bias and the Role of Institutions:
I align with the belief that a more convincing market structure, such as a double bottom, is required for a healthy bull market. Nonetheless, the extreme bearish bias among analysts may have been premature. Institutional involvement in BTC far outweighs the influence of retail traders, and an early bearish bias benefits institutions by exploiting retail traders' stop-loss orders. This creates a cycle of stop hunts that generate liquidity for institutions. Thus, I am not bearish currently due to the retail majority's bearish sentiment, as the true dump typically occurs when everyone turns bullish. so the institutes can trap bull volume and their SL order are what market orders that will facilitate the dump to dumps further.

The BTC Chart Analysis and the Real Picture:
Based on my analysis of the BTCUSDT.P 1-day chart, the price drop from the trendline was inevitable. However, experienced traders typically wait for a retest and rejection before entering a dump position. The candle on August 29th seemed to be a potential rejection, but the price held afterward and has since followed a small uptrend. This suggests a clearer overall market picture.

The Plan: Bullish with Exit Strategy:
My plan is to adopt a bullish stance until the upside magnets that indicated by my indicator are filled at 31,850 or 30,422. The strategy involves initiating long positions at the first higher low and continuing to do so until a major rejection occurs on the daily chart, either at the old trendline or by the magnet blocks. It is crucial to adjust stop-loss targets continually to prevent profitable positions from turning into losses. and only reverse our position after it we got what we looking for -- the clearer rejection.

Anticipating a New Rejection:
Considering the current small uptrend with higher lows, it is likely that a new rejection is due to happen. This rejection could serve as the final nail in the BTC's coffin.

Conclusion:
It is essential to challenge prevailing bearish biases and maintain a cautious yet optimistic standpoint when it comes to BTC. By strategically planning our positions, adjusting stop-loss targets, and anticipating market movements, we can navigate this unpredictable landscape with the potential for significant profits. Good luck, fellow traders, as we embark on this bullish journey together! Lets sell at the highest on October and watch those 50m yacht pass to our 200 one.

3 Okt 2023

Nota

Tip for new traders . BNB is kind of like subversion of BTC if you compare with two of them , the movement is almost identical. but with slightly bigger range and cheaper fees.

3 Okt 2023

Nota

3 Okt 2023

Nota

sorry for the first comment the picture is wrong that was two bnb chart
heres the correct one , words are true . bnb is a cheaper version of BTC

7 Okt 2023

Nota

the price going as planned. when we reach full bullish sentiment. i believed it will drop hard

16 Okt 2023

Dagangan ditutup: sasaran tercapai

tp1: 30422 reached

22 Okt 2023

Nota

waiting for TP2, long for alt make much as possible , when BTC reached ,i would closed all long position, waiting for angle for short