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.

Bitcoin, Blockchain, Crypto, Cryptocurrency, Coin

Image Source: Pixabay

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:

(Click on image to enlarge)

Bitcoin in US-Dollar, weekly chart as of November 23rd, 2021. All alone with bitcoin

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:

(Click on image to enlarge)

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

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.

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Disclaimer: All published information represents the opinion and analysis of Mr Florian Grummes & his partners, based on data available to him, at the time of writing. Mr. Grummes’s ...

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