I love the phrase I coined up – “double trade profit points”. There’s a nice ring to it and from this chart, the benefits are also obvious.
On this chart which takes us back to the 2017 rise, I have marked out where the 200 and 314EMAs touched the candles. I have also marked out what would have been a few fantastic double trade profit points for short term traders after the 2017 bitcoin mania.
BTC turning down is not all doom and gloom. In fact, sometimes downtrends can be the most easy to profit off, generating greater returns than uptrends can.
There is no magic strategy for working out when these may occur. It is a matter of spending hours in front of a computer working out waves and strategies.
I hear long-term investors screaming “WHEN WILL IT CHANGE TO AN UPTREND”. I have absolutelynofuidea. What I do know is that we have not yet reversed into a downtrend yet, and if we do, we know who will be raking in the profits. 🙂
This is a chart I have shared with Purple Crypto Premium members.
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Trading View link: https://www.tradingview.com/chart/BTCUSDT/maYvt53l-BTC-Opportunities-Double-Trade-Profit-Points/