*? BTC UPDATE*

Taking profits of my LONG here, closed 3/4 of the position here with +165% profit.

As I previously told, the middle line of the horizontal channel ($57,000) is a perfect place for target.

If the price manages to break through this resistance, the path to $61,500 will be open.

? Despite the overall market dump, $OMNI is staying strong and growing!

In my opinion, it is still good point to buy, since it must go hard! I bought one on spot and sent to Binance Earn.

?❤️ Longed Bitcoin at $52,700 as was saying in the previous update, now holding position with some profits.

Closed 1/4 of the trade here, moved SL to the $53,000 level.

? My thoughts on the market: I started swapping my Bitcoin into more Altcoins. Previously posted many bullish Altcoin charts: first post, second post, third post Bitcoin is still close to the down border of the horizontal channel (safe), but Altcoin are…

*? My thoughts on the market:I started swapping my Bitcoin into more Altcoins. Previously posted many bullish Altcoin charts:* first post, second post, third post

Bitcoin is still close to the down border of the horizontal channel (safe), but Altcoin are dying (pretend to be dying).

As you can see, almost all majors are reaching historical global MAs and EMAs.

I still hold my LONGs with x2 - x3 leverage, and spot of course. Reverse upwards is an around the corner, seen such market many times before.

*? BTC UPDATE*

The chart this week is quite simple. There are two resistances: $63,300 (local) and $64,500 (main). There is an extreme sell pressure in the main resistance area, the price was rejected from there 7 times already.

Talking about supports.. there are two of them: ascending trend line and $60,000. In fact, I tend to believe that $60k is just a psychological level that bulls don't want to lose. There is no real buy pressure there.

The only support that matters is the ascending trend line that saved the price 4 times already.

? How to trade it? The safest buy is on the confident $64,500 breakout. A riskier purchase is after $63,300 breakout. If we lose ascending trend line — say goodbye to Bitcoin above $60,000. If this happens, we will see $55,000 zone in no time.

Bulls need to push the price today. Otherwise this week might be bloody. I adjusted the size of my LONG position on Bitcoin, closed 30% of it here in small profit.

​​*? "Profit/Risk Ratio" - what is it and how to use it?Professional traders use the profit/risk ratio to estimate a possible profit in relation to a possible loss. In order to understand how much is the profit/risk ratio, the trader needs to determine both potential profit and potential loss. The potential risk is the difference between the entry point in the position and the stop order. The potential profit is the difference between the entry price and the target* order.

? If you buy Bitcoin at $6900, place a stop order at $6800 and take profit at $7200, the risk will be $100 ($6900 - $ 6800), and the profit will be $300 ($7200 - $6900).

Comparing the risk with the possible profit, we get the ratio: risk/profit = **$300/$100 = 3

If the ratio is bigger than 1.0, it means that the profit is bigger than the potential loss.**Why is it useful?

? Let's use the statistics.The table below shows the dependence of the probability to lose the whole deposit on the accuracy of your trades and the profit/risk ratio in each trade. So, we can see that even if your strategy has only 60% accuracy, but at the same time, the profit/risk ratio is at least 1.5:1, you can already be sure that you will not lose all your money. But if the ratio is 1:1, with the same 60% accuracy, the probability of losing the deposit with a series of unprofitable trades is already 12%

✍️ What is important to understand is that I'm not saying a dump below $60,000 will happen 100%. There is still a probability of going upwards from current points, so in fact there are two options:

- Enter LONG right now (as I did) and be ready to average lower in case of a breakdown

- Wait for $64,000 (descending resistance) breakout and enter after that.

The second option is safer, but gives worse entry point.

❗️Buying some #VAMRY on this breakout