November 30th, 2021, Crypto Chartbook — Bitcoin, overcoming adversity

Anything new is confronted with criticism. As much as we live in an ever-expanding universe and as a result, change should be welcome and is a principle, we fear that change. The more revolutionary a new thought, a change inherently is, the more it gets rejected. Once it establishes itself as a new standard, all these rejections are forgotten, often even denied by those who upheld them strongly. Bitcoin is the picture-perfect story about such refusals to accept the inherent principle value and still struggles to hold its head up high. Bitcoin, overcoming adversity.

Nevertheless, this might be over soon. Regulation might kill the majority of the expanded crypto world. Bitcoin might be banned, as it has been in the past in various countries.

And yet, once fiat currency value implodes, bitcoin will be the last man standing.

BTC in US-Dollar, Weekly Chart, last weeks call on the nose:

Bitcoin in US-Dollar, weekly chart as of November 23rd, 2021.

We posted the above weekly chart of bitcoin in last week’s chart book release. We anticipated a low-risk entry.

BTC in US-Dollar, Weekly Chart, as planned:

Bitcoin in US-Dollar, Weekly chart as of November 29th, 2021.

Since then, prices have swiftly penetrated our entry zone. We caught two trades, a daily and a weekly time frame position. We posted these trades (entries and the partial exits), as usual, in real-time in our free Telegram channel.
Furthermore, we employ a quad exit strategy that ensures instant risk elimination by quickly taking half of the position off.

With entries of US$ 53,877 (daily timeframe trade) and US$ 54,000 (weekly timeframe trade), we were able, with first exits at US$ 54,591 and US$ 55,797, to not only eliminate risk but ensure profits on half of the positions of 1.33% and 3.33%. As well our next following targets have been reached! We took another 25% of position size out at US$ 55,811.6 and US$ 57,317.7, which booked us another 3.59% return on the daily position and 6.14% on the weekly position.

The remaining 25% of position sizes on each trade we call runners. With stops set now at break-even entry levels, we can only produce additional winnings for each trade.

Each trade had tight stops, assuring less than half a percent of risk per trade.

BTC in US-Dollar, Monthly Chart, modest odds for follow through:

Bitcoin in US-Dollar, Monthly chart as of November 30th, 2021.

The possible contrarian short signal on the monthly chart makes the weekly trades success probabilities for the runner smaller. Nevertheless, this quad exit approach allows for low-risk positioning versus endless mind chatter and debate since it is typical that different time frames show different long, short and sideways plays.

Here, bitcoin again overcomes adversity. Typically, tight ranged instruments erase many trade opportunities for profit margins relating to commissions and risk to small. The earlier mentioned profit percent numbers are typical for bitcoins volatility and, as such, allow for risk reduction and short- to midterm profitability being more extensive than the average S&P500 annual return.

Bitcoin, overcoming adversity:

Bitcoin will be the cure to inflation damage for those you invested in it in a timely manner. Inflation is a creeping disease to money. Humans seem to have in history always procrastinated towards dangers of inflation, mostly since inflation treads slowly. Inflation also holds illusions supporting hope, hope that also fuels procrastination. While most who suffer under inflationary times think prices for goods went up, the reality is that monetary value went down. With this illusion, we hold on to stock portfolios seemingly rising, bonds, 401ks, and Roth IRAs trusting governments for the status quo to be protected or at least trouble to be temporary. Much more likely, most citizens are drained of their savings and cheated out of their retirements. At the end of such a monetary devaluation cycle, it will be the last time bitcoin will defend its place.

Doubt will finally vanish. Unfortunately, too late for those who did not educate themselves early enough to find a haven in this principled way to protect one’s wealth.

Feel free to join us in our free Telegram channel for daily real time data and a great community. If you like to get regular updates on our gold model, precious metals and cryptocurrencies you can subscribe to our free newsletter.

This article does not contain investment advice or recommendations. Every investment and trading move involves risk, and readers should conduct their own research when making a decision.

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Florian Grummes

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