The plan from 6/2024 to now is also nearing completion, and now, at the end of the year, is the time we should review and adjust the plan to fit the actual market situation.
1. BTC has broken 69k, this breakout is genuine and it is a sufficient condition for Alt and making profits in the near future (as previously analyzed). We don't need to worry about the upward movement at this time. In trading, there needs to be trust and a specific trading plan; otherwise, one should not pursue this profession. If it breaks the trap, it won't go far at this price.
2. BTC's correction is necessary, from 15k to 108k is already x7. It is natural for investors to take profits. And high prices reduce the attractiveness for new investors. A correction of 10~20% is normal for BTC.
3. At this stage, BTC from a long-term investment perspective is no longer appealing. Okane predicts it may still increase 1 or at most 2 waves in the W frame to create a peak. But opportunities for mid and short-term still exist. Especially, Alt has not really compared to BTC. Therefore, we need to consider how to play in this phase to be effective.
Therefore,
A) For BTC,
- Okane still sees that the correction is not over. Around January 25, there will be a buying point. Now is too early to buy, let it correct, buying later will be better.
- If the price does not close below 88k, Okane will continue to follow the trading plan as illustrated. And don't forget to be prepared for plan B.
- Okane has not sold BTC yet because it was bought at a good price earlier. Still trading according to the above plan.
B) For Alt,
- BTC Dom (BTC.D) has currently confirmed entering a declining phase at the W frame. However, when BTC corrects, do Alt drop more, right?
- ETH, the leading coin representing Alt, has not broken out to create an ATH to build trust for Alt. The Alt season has not really occurred yet.
- 2 coins #OP, #WLD are the two main coins Okane is investing in, currently in wave 2 (correction wave). If it hasn't dropped too far below wave 1 + BTC does not close below 88k and follows the plan, then it won't be hard to see wave 3.
Currently, Okane is continuing to DCA and has not sold any coins.
This is Okane's strategy, you can refer to it. Join tele to update new information from #Okanetrading
