Is it too late to go long? cup and handle incoming.
Recent milestones:
-tested the previous high to finish the cup @ 10400
-passing into golden cross zone with the daily 200/50 MA
-Currently in pull back, looks like an early cup n handle formation
Trading strategy: scale into a long position after we find a handle bottom
Conservative strategy: wait for the handle to finish before taking a position quickly
If price doesn't go below 8600. Buy @ 10400 around end of Feb Stop loss around 9700
Aggressive strategy: Scale in after a bottom next week, maybe around 8700.
profit Target 1 @ 10300
profit target 2 @ 11400
I don't think we will run up to 14k+ just yet. I feel there is significant resistance around 12K. I still believe we will see a crash after the halvening or even slightly before. However in the near term price action is bullish for the next month or two at least.
I think its more likely we will channel for most of 2020 between 12K and 7K, where a major indicator is the dump after the halevning if there is one.
-tested the previous high to finish the cup @ 10400
-passing into golden cross zone with the daily 200/50 MA
-Currently in pull back, looks like an early cup n handle formation
Trading strategy: scale into a long position after we find a handle bottom
Conservative strategy: wait for the handle to finish before taking a position quickly
If price doesn't go below 8600. Buy @ 10400 around end of Feb Stop loss around 9700
Aggressive strategy: Scale in after a bottom next week, maybe around 8700.
profit Target 1 @ 10300
profit target 2 @ 11400
I don't think we will run up to 14k+ just yet. I feel there is significant resistance around 12K. I still believe we will see a crash after the halvening or even slightly before. However in the near term price action is bullish for the next month or two at least.
I think its more likely we will channel for most of 2020 between 12K and 7K, where a major indicator is the dump after the halevning if there is one.
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