Live Trading and Bitcoin 10,000

First of all I want to thank you for following along with my work, I've been trying to put out as much relevant content, that people have been asking for, as I can. 

This past month was a world wind for me, ending a 3 year(ish) stint as a nomad, traveling the world (with my wife), living in Airbnb's and trading. It took a number of years to convince my high powered litigator of a wife to give up the nice house, car, country club membership and all the *things* that she thought was important, to sell it all and travel the world in style. 

To be clear, we weren't private jetting nor were we staying in hostels or on some gracious hosts couch. We were in Aribnb's, the whole Airbnb not just a bedroom, and still working pretty much every day. So it wasn't a permanent vacation and it wasn't site seeing all day everyday, in fact as we were going through our photos from the last few years, we really didn't spend a whole lot of time visiting Instagram's best. 

It was our first trip to Europe that we realized that we weren't interested in spending our days touring museums, standing on historical bridges, drinking expensive wine and eating gluttonous amounts of food. We were more interested in learning, exercise and wellness, living day to day life but from a really cool house/apartment in an interesting place in the world. Rather than seeing a new city every 3-4 days we'd spend 2-6 weeks in a location and get to know a bit more about the people, make friends, get acclimatized to the way of life. 

All that is to say, we finished our nearly three year adventure this month, as we are expecting our first child, a son, in May. This means we now have a home, Scottsdale Arizona, our own *things* again, but also we are a lot more thoughtful about what *things* we have. Spending three years in different Airbnb's for weeks on end gave us the ability to think about what we do like and can't live without, and more importantly what we don't like and can live without. 

One of the most important things for me was fast reliable internet, aka Gigabit internet. Traveling and living in Airbnb's has a lot of great advantages, but fast/stable internet isn't one of them. Especially in some of the more desirable locations, like the beaches or mountains. Despite all efforts that I put in to ensure connectivity around the globe, not many Airbnb hosts are going to spend money on the top bandwidth packages and even fewer will add mesh networks to their Airbnb to ensure stable coverage throughout. 

Which leads me to the relevant subject, with this stable internet connection and new home office, I have been live streaming my day trading during the trading days this past week, here's the link to this weeks videos. 

http://bit.ly/2UB3SeU

They are all there, and all day long. For the most dedicated of you feel free to watch them this weekend, or just tune in during regular trading hours. For now it's free. In the future we might look to build out a live trading room and use better tools, let me know if this interests you by replying and telling me so!

Bitcoin And The 10,000 Level

Saturday (today) I did a video on Bitcoin and it's 10,000 level.

BTC has traded through that level 10 times historically, the minimum range for the month that it does trade through 10k is roughly $3500 that month with the average around $5,500 and it's highest over $10,000 range.

That means that we can expect a move up to the price level of 12k or down to 7k after a break of 10k and still be within our minimum average range for a 10k month.

The average range of 5500 would be 14k high and 4k low and still be a normal 10k month

The most notable months have traded through the 10,000 price level and every single time it is amongst the highest in volatility.

10k is a big round number and most owners/investors and casual participants with Bitcoin are going to be thinking to themselves "I'll sell half my profits at 10k" They won't be saying "9850 is a key level so I'm going to lighten up there". It is always a big round arbitrary number that they say, and this is why we have suuuuuch volatility around these levels. 

I don't know which way it'll play out but right now we are in a nice bullish trend up over 40% since the beginning of the year/decade so there's likely to be some profit taking there.

Next I want to talk about measured moves. 

There are two mega measured move upside targets for BTC

The first and let's call it intermediate measured move upside target is $21,355, that is from the 2019 highs to the 2019 lows this gives us $7455 higher after (if) we break out above the $13,880 2019 high thus bringing us to above 21k.

If we get above 20k that opens the door to the more prominent measured move from the 2017 highs of 20k to 2019 low of 3100 the difference gives us 16,900 so you add that to the 20k top tick which you need to trigger the measured move higher and you get 36,900 as a price target.

I'm not addressing the 100k, 125k 1M price targets, those are arbitrary and while I don't object to them I have no reason to support them. 

Saturday I spent nearly two hours live streaming and analyzing the 10k here http://bit.ly/3bmpm58

As a systems trader and a price action trader you know I'm big on standardizing my approach to how I trade. I created the free systems trading checklist, just click this link and download it for free! 

http://bit.ly/31E0aTc

And if you are a trader struggling to be consistent then I'd highly recommend the Profitable Trading Blueprint course. It's only $49 and is the best way to take struggling traders to consistently profitable traders 

http://bit.ly/2SaJEqE

If you have any questions, thoughts, or ideas reply to this email or find me on Twitter @ChrisDMacro 

Love you all!