Only a quick update for the current week.
BUY ZONE Update
All my classic charting indicators already aligned for a BUY ZONE start, but as covered last week, on-chain data is still lagging, so I am expecting to see lower prices in the coming weeks.
For those that are impatient or just simply have no time to watch the markets, I recommend splitting your Bitcoin allocation into 10 equal parts and buy every Friday evening for the next 7 weeks. Some exchanges allow you to set this automatically.
If you planned to buy BTC and ETH just make sure you keep some funds in reserve in case the prices will keep going lower beyond the 7-8 weeks from now.
For those readers that are patient and have been waiting with their capital for a while now and wish to buy once more of my metrics align, stay calm ignore any fake hopium headlines about new bull run starting etc. and I will post as soon as I see we are safe to start buying. My targets remain the same under 17k is most likely to happen over the next 8 weeks, with a very good chance of seeing BTC closer to 10-12k range at some point before October.
I might start sending out BUY signals based on the CryptoG trading template that definitely improve your long term investment plan, as it flags good spots for taking profits, even if it will not mean selling at the top it will ensure your funds are growing in a healthy way and you are always ready for the next bear market with cash in hand.
As you can see in an example above, starting off with 10k during the BUY ZONE in 2018, would ensure profit taking and re-investing at various times throughout the last 4 years. Of course there is no way to predict how many buying opportunities this will flag in the coming months as they BUY ZONE gets confirmed, but I would assume at least 3-4 (including Limit Order buys).
Weekly Overview
I have not posted any trade ideas as the Short bias still remains and so my existing setups are still valid with targets as mentioned before, most likely 14-16k and possible 10-12k over the next 2-3 months.
This week on Economic calendar, we have few FED speakers including our favorite J Powell and important data from US, GDP and PCE with the latter printing higher than expected numbers could seriously rattle the stock market and in turn crypto. This is the inflation figure that FED pays a lot of attention to, so should you :)
If I see any rapid developments happening that invalidate my bearish stance, I’ll let you know, for now keep patient and think about what you can afford to invest in the next 2-3 months in digital assets, considering rising costs of living and the fact that investing in any risk-on assets might mean you will not see profits for good few years.
Love this! Thank you for the update!
Thanks for the continued updates; I'm in the camp of sitting on my hands for a while longer yet
There's a lot of bad things happening out there with the fed etc and also Russia Ukraine seemingly getting worse rather than calming down