Bitcoin is flat for 2 full months now. After our historic Cryptocurrency Alert: The Crypto Winter Has Ended on Feb 25th, Bitcoin rose more than 3-fold from $4k to $13k (on a closing basis) in the 2nd half of June. Since then it trades between $9.2k and $13k. Fundamentals did not change as per our Cryptocurrency Predictions for 2019, and our BTC $25k forecast did not change neither. However, there is one crucially important date coming up for the remainder of 2019: Wednesday August 28th, 2019. This is why crypto investors must stay very focused in the next few weeks until Wednesday 08.28 in 2 weeks from now.
We said before that Tsaklanos his 1/99 Investing Principles is applicable to crypto investing as well. It is just 1% of the days in a year that have an above average meaning (value).
We’ll show why Wednesday August 28th, 2019 is one of the few days in 2019 that must have the attention of crypto investors. To be more precise, the days heading up to that Wednesday are equally important. Wednesday August 28th, 2019 is like the deadline.
No it’s certainly not related to anything you read in Bitcoin’s news, on the contrary.
Note that the high volatity in crypto is misleading. It makes investors think they have to trade more. The opposite is true.
As per our 50 Cryptocurrency Investing Tips it is only a few times per year that crypto investors should be on high alert.
Cryptocurrencies are highly volatile. Consequently, they require a trading approach as per the ‘less is more‘ principle. Trading less will result in significantly higher profits provided timing a trade is accurate.
Back to the key point of this article.
The daily Bitcoin chart shown below makes the point why August 28th is such an important date.
We are now in a rising trend in Bitcoin, and with this in the whole crypto market. However, how fast *exactly* the trend is rising is not clear yet. We might have an answer by August 28th.
If the bull market trendline in purple on below chart is the one that holds it will send us tons of information. It will not only tell us that the purple bull market trendline is in play. It will also … :
- It will also validate the 2nd buy alert we flashed last week, and confirm it is the last chance to get in, see Bitcoin’s Chart Likely Signals ‘Last Chance To Get In’.
- It will send a positive signal to all cryptocurrencies, especially top picks like XRP and our associated forecast.
- It will confirm a similar bull market set up as in 2015 which is what readers can see on the long term Bitcoin chart on this page.
- Most importantly, it will start telling us at which price levels the next peak in the next years will be.
The last point is one that is the highest on our importance list! This is linked to the whole topic of how and when to prepare the exit strategy, as well as at which future prices to sell. Indeed, preparing the exit is something smart investors do at the beginning of a crypto bull market, to avoid being trapped as most investors did at the heights in 2017.
We will cover this topic in great detail in the next few weeks, in the restricted area of our cryptocurrency research section.
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