Today for the bitcoin price and you read the title right. Bitcoin – the biggest trade of my life 30 to 40 million US dollars! hear me out before you call me crazy. Let’s go straight into the content. Let me show you first the trade I’m having open right now.
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Let’s go to the content and I want to show you exactly what I’m talking about. First of all, let’s go into my trade. This trade already. It’s not yet this big trade I’m talking about. What you can see is my bitcoin trade is three hundred fifty thousand dollars in profit my Ethereum trade is almost fifty thousand dollars in profit. But, that’s nothing compared to what I’m actually talking about right. I’m talking about a potential 30-40-million-dollar trade. Whereas the bitcoin trade is right now approximately at two million dollars. You can see 97 bitcoin right there right. So, now, of course, the question is what has to happen.
I’m scaling this trade higher to this crazy number. Well, let’s go into the charts. I want to tell you exactly what has to happen that I’m going crazy. Basically, let me show you, and also I will show you exactly how this would look like this trade of mine which I talked about a potential trade like this already a few months ago. My condition did not happen, so I did not open it. It was I think it was in January, February or so, unfortunately, it didn’t happen. But, now we are so close, we can talk about it again.
Now we can talk here, we can see if I pull out the measurement tool from right here to the present moment now. That we are having an almost 120-day downtrend. You can see it here 120 days of bitcoin basically going down and down and down ever since we had 46 multiple touch points right there. Let me geez just a quick second here. So, you have multiple touch points on the left-hand side and multiple touch points in the middle. Of course, people are asking when is this finally going to end. When are we finally reversing the trend very easy. Let me go here straight into it and actually show you exactly what has to happen well right here. We had, I think, like four touch points right there. We had two touch points over there.
We had just another rejection this week though I’m, at least, hoping for it. We can go for another retry and what is the trend – is your friend until the end on the daily. We are in a downtrend no hiding about that but the more often bitcoin is actually retesting the resistance the weaker. It becomes every time we are touching. It bulls are losing steam and of course the more often, we are touching it the more likely it becomes to be broken the moment bitcoin breaks the week daily downtrend here which would be next week around the number of 23 000 right. A closure of 23 000 on the daily with volume support.
Let me quickly go back here with volume support. If we are getting a close on the daily with volume support above 23 000 US dollars that’s where I’m, first of all, scaling up my trade doubling down tripling down to four or six million US dollars. Every single time we are breaching a flip level. I will scale it higher. Then, of course, there will be a moment where I will scale it lower. But, I will talk about that later on so here. We can see exactly how the game plan should look like if I’m going here the next resistance after breaking our downtrend here would be, of course, around the levels of 37 000. I will keep you updated about that for now.
For now, I will leave it at 2 million. Once we are breaking coming week hopefully maybe the week. Afterward, we never know. I am going to scale it higher. I’m gonna double it down my crazy trade here, where people are basically laughing at me that I’m still having it open so far. I’m not regretting it – but who knows. In the end, I’m the crazy one so who knows – if I will regret, if you want to be trading as well.
This article is a transcription of a video made by MMCrypto
Original video: https://youtu.be/BDwToz7tROM
