BTC update 30.11.2020

in hive-126009 •  2 months ago 

BTC made a new ATH today!!! So it begins...

So far, every time we saw a new ATH after a bear market, we were staring at huge gains in the following 12 months.
Don't get burned by selling too early.
Don't get burned by trying to sell a high and buy back cheaper.
Don't get burned by panic selling a 40% dip.
Stay focused on the target. The target is riding 80% of this bull run. You most likely won't be able to sell at the top. That's why you need an exit strategy ASAP!
In 2021 I will do a lot of educational posts about possible exit strategies to help you maximise your profits.

The main count has slightly changed because it is now more likely a wave 3 than a wave 5.

Green wave 3 might turn out bigger than you imagine right now.

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Feel free to use and share my charts, but please mention me, @ew-and-patterns as the author. Otherwise it is considered plagiarism and I will flag you and advise my friends to do the same.
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Please consider leaving a comment, like or rehive, if this post entertained you or helped you see things differently...

Have a nice day :-)

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Stay focused on the target. The target is riding 80% of this bull run. You most likely won't be able to sell at the top. That's why you need an exit strategy ASAP!

Isn't that the absolute truth! This is vital! Everyone needs a strategy laid out with clear targets so as not to get rekt by their own emotions.

What you said about trying to outsmart the market on the way to the top is 100% spot on. I for one, have zero intention to do anything but HODL until we get there.

In 2021 I will do a lot of educational posts about possible exit strategies to help you maximise your profits.

Please do. Getting to that early in 2021 will help everyone prepare for the craziness that most likely awaits us next year.

Posted Using LeoFinance Beta

Very nice to see that the time has finally come again. Then the journey can probably begin, I am really very curious where it goes this time.

Because you are talking about an exit strategy, would you mind sharing a few thoughts? Last bull run I sold the same way I buy, partially and step by step. I missed out a few dollars to the ath and sold few k below, but still good.

What do you think would be a decent checkmark to keep an eye on? Since I'm not really sure if we will see 10x and more like in 2017 it would be nice to get some different ideas ;)

Posted Using LeoFinance Beta

Look at the SF2 model (463d). It predicts for 2021:
Upper barrier: 700k
middle band (463d average): 110k
Lower barrier: 50k
Upper barrier has been breached 3x, lower barrier has never been breached

Assuming that the price will stay between the upper and lower barrier at all times, it is foolish to think that 200k will be the top. More like 300k or 400k or 500k. If institutional buyers and companies go crazy, we might see 1Million this cycle...

A 84% correction should not hit the lower barrier at 50k. That alone means ATH > 320k.

It only sounds nuts to somebody who does not understand how much money they actually have in cash and liquid assets...

Yes, scaling out is the best way to go. Sell a small fixed percentage like 0.5% at first and increase towards your desired price level. Whenever it goes parabolic for a few hours/days, sell a bigger percentage.
And the most important rule: NEVER SELL IT ALL!
I will always keep 20% at all times, no matter what happens.