Today for the Bitcoin price and this is a very important video Bitcoin is right now going crazy. I want to talk about it talk about my multi-million US dollar 100 Bitcoin trade. You can see right now wrecking in 212 000 US dollars in a profit, when am I going to close it, what price targets am I expecting is there more upside from here. More importantly, the most frequently asked question, I’m getting everywhere did hit conv did the Bitcoin hit bottom yet. People asked me.
Let’s talk about that. I am here to talk about Bitcoin with you dear lady and gentleman. Now let’s go here straight into the charts and before I’m doing that I wanted to actually show you one thing. What I will show you is this later because this is the single best chart. Now let’s go straight into the charts. Let’s talk about the Bitcoin price, which you can see here on the weekly cameras. Bitcoin is still below the 11-year support, but we can see some fight happening here right and the deal. I have been talking about it for a long time. We need to get back above the 11-year resistance which was 11 11-year support never broken right well one time. Actually, we can see it here in march 2020. We went below. We closed below you can readjust it a little bit but in fact. We stayed below for maybe even two or three weeks depending on how you draw it at least for one week. We stayed below and then we snapped back above it.
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So, it’s not the end of Bitcoin here just because we are below but we need to get back above of course if we are getting another rejection here and even breaking below the previous rejection point, of course, that would be very bloody. However, the fight is looking good for Bitcoin not only in regards to that but also in regards to this one specific chart I want to show you right now because there are a few models which are thrown away. Now like so many models were completely blown away by this Bitcoin dump. Few models are holding and actually, one model, one price prediction model is perfectly on track. It’s this one here I posted it a few minutes ago.
What you can see is I’m saying Bitcoin is back on track. What you can see here is the Bitcoin four-year trend with standard deviations. You might ask yourself what is a standard deviation. Let me go into it and it’s a little bit of statistics right. I started economics, so maybe it’s a little bit easier for me than for someone who never had statistics. But usually, most of the things are in a normal distribution right. We have this value MU. It’s the mean, it’s the predicted value in this case for the Bitcoin price and then we have standard deviations on the right and left side 34.1-13.6 and so on which are deviating from the expected mean for the Bitcoin price.
You can see the blue band. This standard deviation is perfectly predicting every single Bitcoin bottom whereas the red band is perfectly predicting every single Bitcoin top. We saw in 2015 two dips down to the blue line we saw in 2019 and 2020 two dips down to the blue line. Now we are seeing once again another dip down to the blue line. We are already there so what would this mean in the grand scheme of things for the Bitcoin price for now. This would mean we can’t go much lower. It means we might get a bounce. In accordance with that model, you might get a second dip at this point in time. The line will already be higher right now. This line is predicting we hit the perfect bottom. We hit the standard deviation of whoops. Let me go back. We hit the perfect predicted standard deviation band here for the basically fifth time in the last seven years. In accordance with that, we can’t go much lower from here. This deal ladies and gentlemen is, of course, not something I can promise you but in accordance to perfect statistics. That’s exactly what we want to see right this is why I am still keeping my trade open. Of course, I am a man of statistics. I love to follow the statistics, and not my emotions. I’m keeping this trade open. If it might fall lower, I will stack up and I will decrease my liquidation price which is right now sitting at 17 200 US dollars, 220 000 US dollars for this trade and a profit. Of course, you might ask what I do, if I didn’t join you on this trade.
I talked about this trade I talked about in the last two weeks. Every single time I talked about it when I was scaling it higher when I was going higher. But if you are standing on the sidelines right now. Would I join a trade? Would I jump into a trade right now? Well, I would be very cautious. If you want to jump on trade be cautious and do it on very low leverage talking about 2x 3x 4x5x maximum. I’m on a 9x leverage trade. I would not join a 9x leverage trade right now. It’s very likely that we are getting another 10% dip. So, be careful if you are jumping on a tray, do it with low leverage, and do it only as an experienced trader and based upon your own research. Trading at your own risk.
This article is a transcription of a video made by MMCrypto
Original video: https://youtu.be/Tks_E0BsvnM