This post will separate the men from the boys and the women from the ladies. Let's make some ruthless profits. Let Cash Is King share some secrets… best read this for the protection of your money and to give you an added advantage from making money off the weak handed, allow it to be their tragedy and our blessing the day Bitcoin falls.
When bitcoin takes this dive what it will cause on the market is most Alt coins to spike down fast and it will be a dominies affect
If you have decided not to short BTC and want to earn some profits the below earning strategy works well I use it on coin forks by buying minutes after a fork and buying bottom of the dump. I used a line chart above, the reason for this is to show you the 6K bounce and where the candle closed. If you don't want to follow the below and want to short i needed you to see where the candle closed on last 6k crash. It was exact same price that BTC's uptrend started at last December which is fascinating... too fascinating.
If you don’t know what a line chart is the line follows the close price of each candle, the doji is used to analyse next moves this is the best for price moves.
Now here’s the secret and your welcome to copy this for a very nice earn, i find this safer then shorting BTC as targets are hard to judge on btc being such a powerful globally recognised coin buying comes in at any price strong.
Game plan go to Alts and find their all time lows from August 2017 to December 2017….
On these lows of the Alts submit buy orders, you will be surprised how many coins will actually buy you in when bitcoin dives, also when you set the buy set smaller amounts over a couple of prices, don’t create a buy wall otherwise the weak hands might feel safe seeing your orders parked. Each coin spikes down name of the game is to get picked up.
Warren buffet says himself when people are selling is generally when he is buying and this is when he makes his money. This is ruthless as you are buying from the weak handed that have no clue what they are doing and they are scared and selling..... if they lose a house and it allows you to buy one though i think you can live with that.... or live in it.
While other people are talking about the chaos of BTC and how it’s down 30-40% and they will be on bread and water for a while we will be on the champagne and fillet mignons as the bounce back from alts will be huge.
The spike down of alts and back up usually happens within 30-60 mins and you will earn a nice 20-30%. This counteracts the BTC drop and guarantees you bottom buying on alts which you can then hold.
If BTC closes below that 200EMA today which looks likely the trip down can be quick so any alt trades you have in profit decide if you want to hold through all of this or dump them and play vulture with me.
The chart on this thread shows the levels BTC found support on it’s last trip down, as you can see it’s only a 5 day trip down and 3 days back up. This month around I expected the trip to be less time then before as selling and buying will be far more aggressive as everyone has seen it happen before.
This is all guys this may bore some of you and i apologise I just need to know my team has their portfolios under control and you all have a chosen strategy in place.
Cash Is King, join the train as we have loads of trades coming up after this event.
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BTC is still bouncing between the 200 ema and FIB as I thought it would, this may happen for the rest of the day so lets be patient.
While its supported it provides good trading on alts.
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clear to see moves on Line chart we are on support
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If you want to monitor the BTC you can refer to this chart as its a very clean and easy chart to watch its movement.
Thanks for this analysis CIK but reading the comments from Scaremaze would you not achieve a 25% higher Net worth of BTC if you sold at $9,000 and it went down 20% to $7,200 and you bought. You would be able to buy 1.25BTC at $7,200 with $9,000 which is 25% more than you had at $9,000. You can then buy alts once you buy your BTC back. Is this not safer than holding BTC and having buy orders placed to buy cheaper alts as the orders may trigger and BTC could continue to fall? You would just continue to loose money.
I look forward to hearing from you. Thanks
Cash-is-King
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@Este_TFund, Check my recent BTC post, this is about money management 101. Basically if you buy BTC low (bottom of channel in etc post) then trade it on the alts with me making 10% a day you can cash our your profits at the high of the channel.
This way you capitalise on the alts and the BTC, but BTC to me is also a hard game to play alts I can trade easily and without the level of risk that comes with BTC interaction. It's moves are too large and when the chart says its going down on a short it will turn around and jump then your stuck out for days before you get another entry. All this waiting and uncertainty I personally find alts to be much better.
Example look at XEM in past 2 days we are up 30% I can't hit these figures on BTC.... however I sell BTC 2-3 times a week I don't build a compounding portfolio I cash out all profits weekly but I will cash out at BTC highs so I generate capital gains there on top of my alt earnings.
Cash-is-King
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@Cash-is-King, this is the etc channel so buy at bottom trade alts and earn then sell off your profits of etc at high of channel.
Scaremaze
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Sorry CIK but am I setting my alt trades up at around $6800 BTC? This of courses based on the low between July and December last year?
Scaremaze
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@Scaremaze, what I mean is I want to buy the alts at the bottom as you advise, but I don’t want to sit in BtC all the way down from here. Should I start jumping back into Btc around 7k and then set my buy orders on alts since I’m trading against BTc? Don’t want to set a buy in at the alt low now while trading against BTC and lose all that value on the way down. Hope that makes sense.
Cash-is-King
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@Scaremaze, I think I understand what your saying but maybe not.... so lets say you have 1 BTC worth 9K and it's value goes down to $7200 your net worth in fiat is down 20%. However your net worth in BTC still remains the same.
My trading technique above, will increase your net worth of BTC so you buy the alt low and make 20% on the spike of the alt means you then have 1.2BTC but its net worth in fiat remains at 9k as BTC had dropped 20% in value.
The important thing with this technique is choosing a safer option then shorting BTC in my opinion and BTC will bounce back in price and when it does your net worth in Fiat would of increased.
Everyone is chasing the one prize which is BTC look outside the box and focus on the alts spikes and you can make more and once again safer in my opinion as your trading outside of the hype.
Scaremaze
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@Cash-is-King, Awesome. Thanks very much for the reply.
gusccbb
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Very good advice. Thanks for sharing. The ideal would be to enter other blue chip as LTC, XRP, NEO, OMG (with good bounce in February) or lower altcoins (for example TRON, SC, POWR, RDD, QTUM). In this case, have you detected some with greater potential? Business in Bittrex that's why I mention these altcoins.
GazMema
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i bought on 6th of Feb, Cash....my bank does not send money anymore to anything that has BIT on it's name! That's why i love crypto, f*ck the banks. They don't let you use your money as you wish. If it drops, i'll watch this time. It looks like i can't sell this year :)
I look forward to hearing from you. Thanks