ACH / BitcoinLong
✳️ Alchemy Pay Quad-Bottom & How To Trade, Basics
Updated
Four is a magic number. It is the number of stability, balance, the base for all construction work... Four here is the number of time that ACHBTC hit the same support, coupled with an All-Time Low. Once we hit bottom, we have nowhere else to go but high, really high up.
👉 Very low risk when the bottom is close, huge potential for growth.
➖ We have a quad-bottom pattern.
Here is how I would trade a pair such as this one.
The first step is to define the risk in case things don't go our way.
The last low/ATL is set at 41 satoshis and we use a manual stop-loss thus:
➖ If prices move and close daily (or weekly) below 40 sats (0.00000040) we close the trade at a loss and go away. No big deal, some we win, others we lose.
Any trading above this level and we wait patiently for the market to take care of the rest.
If a bullish breakout happens, as it is expected to happen, then we have a winner and sell on the way up.
I can sell a portion at 55, for example, some higher or sell everything at one single point.
I can also hold for the entire ride using a trailing-stop, whatever you do is up to you but this is a pair in which it is hard to lose.
➖ Buy low, sell high.
Notice the price is low/down/near support...
That's the best time to buy, at the bottom, not at the top.
It doesn't matter what is happening nor what hype is being bombarded to us... We wait for the right timing and look for the right charts to trade for success.
If it is not near support the risk is just too high for a chart setup, a trade to fail.
Some Altcoins and Bitcoin, as an example, are moving high up... We wait on this while we pick the ones near support.
Once Bitcoin and those Altcoins move back down and start to rest (accumulation phase), we can jump in with low risk and plenty of space to enjoy a nice and strong bullish wave. This can happen after the 2024 halving for BTC.
Thank you for reading.
Namaste.
👉 Very low risk when the bottom is close, huge potential for growth.
➖ We have a quad-bottom pattern.
Here is how I would trade a pair such as this one.
The first step is to define the risk in case things don't go our way.
The last low/ATL is set at 41 satoshis and we use a manual stop-loss thus:
➖ If prices move and close daily (or weekly) below 40 sats (0.00000040) we close the trade at a loss and go away. No big deal, some we win, others we lose.
Any trading above this level and we wait patiently for the market to take care of the rest.
If a bullish breakout happens, as it is expected to happen, then we have a winner and sell on the way up.
I can sell a portion at 55, for example, some higher or sell everything at one single point.
I can also hold for the entire ride using a trailing-stop, whatever you do is up to you but this is a pair in which it is hard to lose.
➖ Buy low, sell high.
Notice the price is low/down/near support...
That's the best time to buy, at the bottom, not at the top.
It doesn't matter what is happening nor what hype is being bombarded to us... We wait for the right timing and look for the right charts to trade for success.
If it is not near support the risk is just too high for a chart setup, a trade to fail.
Some Altcoins and Bitcoin, as an example, are moving high up... We wait on this while we pick the ones near support.
Once Bitcoin and those Altcoins move back down and start to rest (accumulation phase), we can jump in with low risk and plenty of space to enjoy a nice and strong bullish wave. This can happen after the 2024 halving for BTC.
Thank you for reading.
Namaste.
Trade active
We have another test of support and it holds.This will be a good one.
This is a friendly reminder.
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lamatrades.com (Since 2017)
🏆 Results: t.me/alansantana1111/5935
🔝 Daily Cryptocurrency Technical Analysis
followalan.com
🚨 Free PREMIUM Trade-Numbers
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