bitcoin with us dollars and calculator

Bitcoin: Buying The Pullback?

NOW you can see why we emphasize taking partial profits, especially at inflection points. Those who followed our suggestions are now in an even more advantageous position when it comes to buying their partial positions back.

In terms of investing or position trade, any pullback within a bullish trend is an opportunity to accumulate some inventory at a better price. The thing is you must have a well-thought-out plan in terms of how much you want to invest and by what time. This is how you come up with a sizing strategy that will control risk in case Bitcoin revisits 37K or even lower. It is a low probability, but it CAN happen.

As far as swing trades go, while the location is attractive, there is no clear buy setup. Along with that, the magnitude of the recent bearish momentum increases the chance that the bears are still in control. Even if a setup develops here, it would be considered low quality based on the criteria of our strategy.

What we need to see is an instance of price stability followed by a setup. This can unfold in the form of a double bottom or failed low. Formations such as these can take some days to develop and requires patience. And there are times when the low-quality setup will pay off, the thing is it worth taking the risk? If the trade only pays off 2 out of 10 times, then it’s now worth the small win. Many traders take trades with only profit in mind, and NOT probability (which will affect performance over the long run).

Thank you for considering my analysis and perspective. If you would like to know more about our short and long term strategies, please visit: https://greenbridgeinvesting.com/pricing