Rule of 3
I'm seven days into my swing trade so I need to pull the trigger on it between now and three days from now. I think the price is about to make big moves, I'm just not quite sure which direction. Judging by how weak the market feels I would say there is a 25% chance of it going up to 12k and a much bigger chance of it dipping under 9k. I've set an aggressive stop loss at $9777. Fully capitulating if that 10k support gets shattered. The price is already very very tight around this range.
However, there is still hope. We've gone down 3 times, popped back up, and gone down 3 times again. I see a lot of triple patterns in the market, so this could be bullish despite the timelines not quite adding up.
This is another situation where I wish I had taken my own advice as far as the rule of three is concerned. When Bitcoin hit $13.8k we were all riding high, but it had just spiked up 3 times in a very predictable manner.
At 9777 huh?
Saved by the bell and still in the game I would say, at least judging from Binance
I guess this is for crypto traders much
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You know what you are doing and I really think your call on a 75% chance of a drop is more likely. Stick with your speculation I think it's on point. - literally my 2 cents.
9777 is way too aggresive.
Not more aggressive than selling right now, which I was also considering.
Ure riding ur emotions not the market ^^
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@edicted, Good luck towards your investments. In my opinion currently every Financial Markets reflecting the super dynamic essence.
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If it goes up, I'm buying. If it goes down, I'm buying more. Not interested in fiat right now, but I also do not keep anything on exchanges, so a stop loss is not an option for me unless I can manage without sleep. Good luck!
If it goes up, Im selling
If it goes down, Im buying
What happened to ur Rep?
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You really don't know what happened to my rep?
I guess bernie
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Hopefully soon it will start to rise rather than lower.
Volcano :D lava
Love the metaphores, youre an artist :D
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If you are doing option trading, this analysis should be okay otherwise on non-leverage trading one can have more flexibility, other leading and other lagging indicators can give better idea. But I will always say price action and inside bar trading comes first.