This is my personal Bitcoin investing strategy for 2020. Step by Step.
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This is my Bitcoin investing strategy for 2020. Step by Step. In this video, I break down my BTC investing strategy into six parts. Here is a breakdown of my strategy.
1 – A breakdown from the 200 Daily Exponential Moving Average, which is a long-term gauge of investor sentiment for Bitcoin. As long as Bitcoin maintains itself above the 200 DEMA, investors are bullish on BTCUSD. When BTC is below the 200 EMA, investors are bearish on Bitcoin. Recent price action below the 200 EMA suggests that a breakdown from the 200 DEMA presents a financial opportunity for a Bitcoin investor such as myself.
2 – A retest of the Weekly Higher Low. Bitcoin has a recurring tendency of respecting a Higher Low uptrend line on the Weekly timeframe. This trendline has figured as a valuable support in the past and we are seeing something similar right now. Should the 200DEMA lose support, this is where I would be watching for a rebound from the Weekly Higher Low so as to springboard price to higher levels. This Higher Low needs to hold for an overall bullish outlook on BTC to be maintained.
3 – This part of my strategy is a little bit more nuanced. Once parts 1 and 2 are satisfied, I’d look to potentially trade the breakout past the old Yearly High of $13,900. As has been the case in the past before, breaking the previous Yearly High has caused a crucial shift in market sentiment towards Bitcoin. Upon breakout past the Yearly High, Bitcoin tends to reach a new Yearly High. In this cycle, this high could potentially be between $16,000 and $17,000. It is this breakout rally that I’d be happy to dedicate a portion of my investing portfolio to actually trading this movement.
4 – Accumulation after the Pre-Halving retrace. Historical Bitcoin price tendencies suggest that Bitcoin experiences significant retracement periods just before the Halving. These retraces have lasted anything between a couple of days to a few weeks. These corrections have been bear traps for investors and have retraced anything between 38 to 50%. It is this Pre-Halving retrace that tends to promote a technical event called a turn of previous resistance into new support. In this case that would be about turning $13,900 into a new support. This is where I would consider reaccumulating after the Pre-Halving retrace.
5 – After that, I would simply HODL. Hold on for dear life, as the meme goes. This is where I will simply hold my investment and await significant price gains after the Halving. Bitcoin tends to rally exponentially after the Halving so I will hold this investment until new All Time High levels are reached. In every market cycle, Bitcoin has been able to break its old All Time High and reach a New All Time High. This means $20,000 will likely become a thing of the past in this current bull market.
6 – The last part of my strategy revolves around buying the dip in a confirmed, exponential bull market uptrend. In a healthy growth cycle like post-Halving Bitcoin price behaviour, any downside price action is merely a short-term and temporary dip before the uptrend resumes. This is why I believe buying the dip will be a viable investment strategy for myself.
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