These last few months have been amazing to see Bitcoin become more professionalised as a trading instrument. When I started trading BTC back in 2011 - it was a punt, a gamble and something I hoped would grow but wasn't sure.
Throughout 2021 you have seen each swing tag key levels - value ranges, MP patterns, Fibonacci extensions and clusters. Respect Gann and Ney levels. It's been very interesting to see an instrument evolve in front of our eyes.
Although I covered recently the full years worth of BTC movement;
This all comes back to the retail psychology which was covered in the Simpson post.
To see the price respect these levels only shows the presence of institutional money flow, pulling the strings. We can see similar respect starting to form in ETH (Ethereum) too;
Looking back to this latest move up from the 28,800 level you can see the move did exactly as was expected in August.
Tagging to the pip on the way up;
In October I was showing why we where tagging a distribution level high - guess what; There you go again.
When you put all of these components together, it's clear to see where exactly we are on the roadmap.
2022 - will be a magical year but it's not going to be as easy as many retail traders would assume or like it to be.
Have a great New Years! See you on the other side!!!
Disclaimer This idea does not constitute as financial advice. It is for educational purposes only, our principle trader has over 20 years’ experience in stocks, ETF’s, and Forex. Hence each trade setup might have different hold times, entry or exit conditions, and will vary from the post/idea shared here. You can use the information from this post to make your own trading plan for the instrument discussed. Trading carries a risk; a high percentage of retail traders lose money. Please keep this in mind when entering any trade. Stay safe.
You started trading Bitcoin in 2011? Wow, kudos to you, bet you wish you could go back and buy more now (don’t we all)
Mayfair_Ventures
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@HayeTrading, yes, been trading various instrument for over 20 years. Big into Tech and run a VC fund so got into BTC as a tech investment conceptually or at least saw it as tech rather than a tradeable instrument then. Got in n out, held a little for a while. It sky rocketed and got a lot of my coins sold. Moved over mostly to alt coins like XRP & the Verge in 2017. Cashed mostly out for Xmas. Then was selling off BTC all the way up the start of this year. Sat pretty ready to buy back the monthly 4. So can't complain - crypto been kind. Got in early and been lucky.
shehabeddeen1
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I have been trading for a few months and I can't make money and even when I make money I lose it so is it worth to be a trader? and there is also the stress that comes with trading.
Mayfair_Ventures
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@shehabeddeen1, it's greed that often cripples new traders. Poor risk management and the desire to take a million and one trades. All you need is good risk management, a strategy you can trust and refine with time and then you take the stress and emotions away. However, that being said - trading is not for everyone. I've enjoyed it over 20+ years, it's provided the freedom and financial benefits to work/live anywhere. If I had to give one piece of advice; it would be "less is more" don't over think, don't over leverage and don't over-trade.