$XRP is still consolidating within the pennant of a massive bull pennant pattern. Until the $2.73 resistance is broken, a pullback to $2.05 remains possible before a potential breakout to $11!
Remember, in this bullrun, we are going to be trading three set of projects â
(1) SPOT
(2) MEMES
(3) FUTURES
The strategy for SPOT is just to buy and hold. And like I said before, you buy any project given based off your capital size. If you're buying a project with small capital, focus on buying spot projects below $800 million market capitalization. If you're a medium capital holder, focus only on spot projects from $800 million market capitalization to $5 billion market capitalization. If you're a large capital trader, then focus on project from $5 billion market capitalization to $100 billion market capitalization. Who is a small capital trader? A trader with $50 to $5k. A medium capital trader is one from $5k to $50k while a large capital trader is one with $50k to $500k capital.
The strategy for FUTURES is swing trading. Opening long position to hold for hours, days or at max, three weeks. The strategy I use makes it impossible to get liquidited.
Futures strategy â
(1) I will share the setups of what to long
(2) Only open five position at a time.
(3) Use between 1% - to 5% of your total futures capital on each trade
(4) Make sure you're using Cross margin not isolated
(5) Make use of 5X to 10X leverage at max.
(6) You don't need to use stoploss on any trade, provided you use 1%- 5% of your total futures funds on each trade.
(7) Once a trade is in 10% profit and above, move your stoploss to entry to run a risk free trade.
(8) Don't enter a pumping setup.
(9) Always take a trade from 4H, daily or weekly major support, any trade that's not on such support is a risky trade, trade with high caution.
Provided you follow these rules, it's impossible not to be a profitable swing futures trade and it's impossible to get liquidited.
Trading MEMES is no big drill, first, if you don't want to lose money on memes, avoid new launched memes. Secondly, buy and hold only high backed ecosystem memes. Then if you must risk in other memes, then trade memes that has been in existence for at least 1 months with good daily trading volume.
Reasons Why Bitcoin is Dumping after the historic spot ETF approval -
1) There was a strong speculation leading towards the ETF approval, now itâs approved people doesnât have anything to speculate on and many expected it to pump towards $55k after approval coz that didnât happen people are just taking profits or selling in disappointment.
2) Bitcoin pumped from the Bottom of $15,400 to $49,000 with fomo elements of ETF so the correction was naturally due and this might be sell thenews event for many who bought bitcoin earlier below $20k.
3) Money is moving from Bitcoin to ETH now. People are selling BTC and buying ETH coz they know ETH spot ETF is coming next and ETH havenât really pumped yet so they are moving to undervalued asset.
Positives people are missing -
1) Bitcoin ETF in total did a $4.3 Billion In volume which is historical for any ETF in history.
2) Now Bitcoin is available you all the Wall Street guy. So Over time trillions will flow into market
3) Bitcoin ETF puts a trust in crypto.
My personal opinion - Bitcoin ETF will become more popular in Wall Street and we will see companies allocating billions to Bitcoin over time which will send BTC to $100k - $200k+ easily. So hold tight and be patient.
Please Like and retweet if you found this summary helpful.
WOW: This morning was wild for #BitcoinâŻâŻâŻ ETF filers. Here's the state of play on the fee war front. Lowest long term fee is @BitwiseInvest at 0.24% followed closely by @vaneck_us at 0.25%. But we also have fee waivers on 3 for 6 months down to 0.0%. Plus BlackRock waiver to 0.20%
The recent surge in #BitcoinâŻâŻâŻ above $45,000 seems to be backed by significant whale activity!
In the past week, #BTCâŻâŻâŻ whales accumulated over 30,000 $BTC , coinciding with a spike in their transaction count. This accumulation could be a key factor driving the current upswing!
With #BitcoinâŻâŻâŻ holding steady above $44,900, sustained buying pressure at this level might fuel a push toward $49,000. This key support holding firm is crucial for $BTC to continue the upward momentum.
Just over 100 days remain until the Bitcoin Halving in April 2024
Historically, any deeper retraces that occur during this period tend to generate fantastic Return On Investment for investors in the several months after the Halving
Could this retrace be a result of hype and speculation surrounding the Bitcoin ETF finally being resolved?
That means a deeper retrace could occur within the upcoming two months or so, between now and early March
This upcoming two month period will be crucial as any retrace during this period will likely represent the final bargain-buying opportunity for Bitcoin
2. Pre-Halving rally
Then ~60 days before the Halving, a Pre-Halving rally tends to occur (light blue)
In anticipation of the Halving, investors "Buy the Hype" in an effort to "Sell the News"
Short-term traders and speculators "Buy The Hype" several weeks before the Halving in anticipation of making a profit from this hype-fuelled rally
Then these speculators "Sell The News" to realise that profit, contributing to a Pre-Halving retrace which occurs only a handful of weeks before the Halving event itself
3. Pre-Halving retrace
A Pre-Halving retrace tends to occur around the Halving event itself (dark blue circle)
In 2016, this Pre-Halving retrace was -38% deep
In 2020, this Pre-Halving retrace was -20% deep
This Pre-Halving retrace can last multiple weeks, making investors question whether the Halving was a bullish catalyst on price after all
4. Re-Accumulation
The Pre-Halving retrace is followed by multi-month re-accumulation (red)
Many investors get shaken-out in this stage due to boredom, impatience, and disappointment with lack of major results in their BTC investment in the immediate aftermath of the Halving
5. Parabolic Uptrend
Once Bitcoin breaks out from the re-accumulation area breakout into the parabolic uptrend (green)
It is during this phase Bitcoin experiences accelerated growth on its way to new All Time Highs
#Chainlink shows signs of a bull pennant formation. A decisive close above $17.2 could be the catalyst for a breakout, potentially propelling $LINK toward $34.
However, keep an eye on the $14.2 level â a drop below this could invalidate the current bullish outlook for #LINK.
The path ahead of $ETH is clear, with no significant supply barriers in sight, suggesting a potential rise to $2,700 or beyond. Additionally, a robust demand wall at $2,000 provides solid support, potentially cushioning any corrections.
#Polygon is at the cusp of breaking out from a significant symmetrical triangle. Be patient! Let the pattern fully develop, as the initial target for $MATIC is set at $1.25, followed by a potential move towards $1.82!
History might be hinting at what's next for #BitcoinâŻâŻâŻ!
In the last two instances, a strong $BTC performance in September, October, November, and December was followed by a bearish January. If this trend keeps up, prepare for a spike in profit-taking in January.
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