Today for the bitcoin price and something absolutely mind-blowing is happening for bitcoin right now. Something, which has and heard me out never happened before since the very first day of bitcoin in 2009. I wanna show you the charts right now. What’s happening I will, of course, talk about a multi-million US dollar trade right now racking in a total 525 000 US dollars in profits. I will talk about my game plan. I will talk about my price targets and I will talk about my next entry point for bitcoin. Let’s talk about it right now. I want to go into the charts first of all before I talk about my price targets and everything else. Let’s talk about it.
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We can see bitcoin on the monthly canvas. I talked about it yesterday. I guess that I actually already told you not only that I’m bullish on bitcoin. But, here the RSI is in the buying zone right. It was in the buying zone one two three times in history.
If you learn from the one in 2014 and 2018, you should have learned what to do right now. Bitcoin is in my humble opinion bottoming out right now. You can see I know everyone is talking about the recession. It’s true we have to see how bitcoin behaves in a recession. How can you know what happens in a recession with bitcoin. If bitcoin never suffered a recession right. So, look at this, this monthly candle is about to go back above this white line and this is much bigger than you might think. Let me quickly go back here actually by the way. I’m not bare feet, I’m almost bare feet to say. Usually I’m bare feet anyways so this is much more important than you might think.
If you want more of these trading updates, I will tell you my next trade. My next price target, but I need this like because if you go over on the youtube landscape, everywhere the traffic is decreasing. I’m very happy with my views, I think we are still getting the most viewed bitcoin only videos on the internet. But, I think we can get more so please like this video let’s go back here so this is extremely important. If we are zooming out you can see the bottom line is the 11 years support and yes for the first time bitcoin broke it on the monthly. That is true right I mean we were always holding in 2011-12-13-14-15-16-18-2020 every time holding it for the first time. We were actually going slightly below. But, look at this if bitcoin closes the month in three days above this line. It’s completely validated this break, it’s just a fake out.
Then, you ladies and gentlemen, we are back into the beginning of bull market territories and the price targets would be among the six digit lines or higher for bitcoin. This is what I wanted to tell you right now. If you are shorting bitcoin right now you are exposing yourself to a big amount of danger. That is why I am in this long position. You can see this bitcoin trade right now wrecking 450 000 US dollars in profit. Ethereum trades 73 74 000 US dollars for a total of 525 000 us dollars in profit right now for bitcoin. If you want to be trading as well.
Of course, you can use this trade to trade bitcoin, you can withdraw the profits from it. But, do it as an experienced trader. I will always be here for you in good times and bad times. We had a lot of bad times. Good times are coming.
This article is a transcription of a video made by MMCrypto
Original video: https://youtu.be/4jIDvu5iwjE
