1st Post! Good medium term entry point for BTC
The weekend saw a pretty significant pullback on my favourite BTC and I am all set to start accumulating it. Since this is my first post, I thought it would be good to share with you guys a little of how I like to note my investments/trades. I use a scoring system for each of my trades: 1-extreme low confident to 5-extreme high confident. For trades with a score of 1, I typically invest only 20% of my investment block size, and for a score of 5, up to 100% of my block size. Each block is 10% of my capital. You may choose to follow my style or come up with something that suits you. BTC did a retracement from about $12,000 to $10,000 over the weekend. Assuming the slight upward trend is intact, BTC looks a little oversold. This will hold true unless BTC breaks the channel highlighted in blue. There could be some slight profit to be made in the mid term. Score: 1/5 Cut loss condition: BTC breaking channel downwards.