DID WE MISS THE BIG MOVE YESTERDAY? HARDLY?.
See the BTC chart below for the latest update and set up ? we again are not updating altcoins yet because they are moving with bitcoin and not outperforming BTC enough to focus on them, but we are watching for a change in altcoins and will post if we see one.
Now for some details about trade strategy you can use from yesterday.
We wrote this in our last post from Oct 23
?Longer term subs who have watched BTC know this COULD be a stop run before a full recovery and move higher in the next 24-48 hours.?
So you knew this ?explosive price pattern? was a possibility ? but not a high probability. Did that mean we missed the big move? Hardly?..
ARE WE HEADED TO THE MOON FOR BTC NOW?
Maybe, and subs should stay alert and have a clear trading plan, but whatever happens to BTC from here there?s an important message from yesterday you can use for years:
THE SAFE TRADE YESTERDAY LOOKED LIKE THIS
Starting from the sidelines ? Enter a full position trade for BTC when price rose above $8000 with an intraday stop under recent lows at $7300 or you could have used the ?important bottom? of $7700 for even less risk but higher chance of getting stopped out. $7300 is a risk of about 10% with upside targets of
$9500 (take 1/3 profits off) and $10500 (take 1/3 profits off)
This trade makes sense to be an intraday trade vs waiting for closing prices because price was moving FAST ? so you had momentum on your side.
If you took that trade you would have made 20%+ IN A DAY on your money and you?d have 1/3 of the position still in play if price shot straight up to $20,000 (very low probability) or would have lots of cash ready to reenter the trade if price fell back towards $8000 (price is around $9000 as we write this)
Is that what you did? Did you make 20% on your money in a single day where you would have NEVER been down more than a few bucks?
That?s SAFE trading and Bitcoin and crypto offer those VERY SAFE trades from time to time, if your watching carefully, have a clear plan, and execute without second guessing ? note that our last post suggested this ?reentry trade strategy?!
Is 20% gain in a day enough if BTC keeps skyrocketing all the way to $20,000 and beyond on this move?
20% is an amazing return ? especially with limited risk and ESPECIALLY IN 1 DAY ? no matter what!!
If you?re interested in being in the trading game long term it?s important to understand that.
