Hello everyone.
It's been a long time since I returned. The reason I stopped writing is that I felt it was not in line with the culture of many of you here.
But tonight, as I'm about to close this position, I want to share a bit with those of you following me and send you a little gift.
First, let's analyze BTC.
BTC recently had a very good price increase. I was also lucky to enter the position when the price started to rise. And the price has likely reached my take-profit point.
Take a look at image 1 - the blue line is the point I predict the price will touch. The price may reach the blue line or even break through and continue to rise, but why do I say I choose to take profit? Because the price has created a double top when it was near the blue line; even though the price has broken out of the old resistance zone as well as the small trading range. But for me, the blue line is the important one; when the price creates a double top and cannot reach the blue line, it is a sign that the price has weakened. So the best thing to do right now is to take profit.
If the price continues to break out above the blue line, I will wait for the price to retest before deciding whether to buy or sell. That's it; if you want to buy or sell at this moment, be patient and wait, don't enter at this price range.
Now the gift I send to you is a place where you can find quality technical analysis videos from top traders, specifically the father of modern candlesticks. Please search on YouTube for Steve Nison's channel and for trading methods as well as trade management, look for the Moneyshow channel. From there, you can learn a lot about technical analysis and risk management.
I'm sure when the market has some fluctuations, I will write again. P.S: showing a bit of the opened position since 11/4.