Hello, everyone, this is Petko Aleksandrov and I continue with another great example for the Cryptocurrency investment system that I’m showing in this course. So let me zoom out to show you where I am at the moment. All right, here we have restarted the Fibonacci and this is just where the price bounced off the 10 300 and something.
And then we had our target reached perfectly right over here at this new top. And I have a new Fibonacci from this top connecting this low over here, OK, which is just at the 38.2%. After that, you see, I had the opportunity to draw a Counter Trendline which was broken this afternoon very aggressively. And before that, if I move the chart a little bit earlier, you will see that I had one more Counter Trendline right here.
But what happened was I didn’t have a failure of the recent low. So you see what happened, the price continued lower, so it formed a lower low than that one, then another lower low, and then it broke higher. But I didn’t have this failure of the recent low that I’m looking for.
So a new lower high was formed, which gave me the opportunity to draw a new Counter Trendline. So I don’t need that one anymore. And you will see that the price failed. But it’s not really a bottom. It’s just a spike from a candlestick. And then it’s touched this Counter Trendline.
There was a little break, but not an impulsive break, not like what I’m looking for, as, you know, an impulsive break and then, boom, here it was. In late afternoon Bulgarian time or early afternoon GMT, it broke aggressively. And I have used the alert, you can see it right here. It was at 11 560.
So I want the trading view to give me an alert when the price breaks the 11 560, basically, when it breaks this level where the price just failed just after breaking the Counter Trendline at that, it went aggressively higher.
Very good move from the Bitcoin, which I caught. And I have bought another piece of Chainlink. So, another 600 EUR of a Chainlink. And I will show you where is the Chainlink?
Much lower than I bought it last time. If you see the yearly chart, you can see this drop that the Cryptocurrency had. Definitely, Chainlink was the Cryptocurrency for 2020, but until August. So for the first half of the year, that was the most profitable Cryptocurrency that I traded.
I showed many examples of taking some good profits. However, it fell down after that, which gave me the opportunities to buy it at lower prices. And today I have bought it for 18 Bulgarian Levs, which is about 9 something EUR.
OK, but what I wanted to show you is more than on the early chart it starts to form on the uptrend. You see there is this series of higher highs and higher lows. So this high is higher than that one and this low is higher than that one.
OK, and just a little pullback. It’s just the perfect situation where I’m looking to buy a Cryptocurrency.
Of course, if the price drops lower, well, I will average the price again. Now, let me show you what I have for this period. You can see the Cryptocurrency is that I have bought for this cycle since the 17th of August 2020.
So I will have 5 links again. And now the price is 18, which is much cheaper from where I bought the 2 pieces initially.
Now, what is the average price? I will show you one more time how you can calculate the average price. So I have one time bought at 27, 37, another time at 25.25. And now I bought 18 which makes a total of 70.62 and I divided by 3 because I have bought 3 times average prices. 23.54. So, when the price goes above 23.54.
I will be already on a profit with the Link, but we’ll see when that happens or if the price goes down. Obviously, I will buy some more to average, even more, the price. All right, guys. So this is how the Bitcoin looks at the moment. Pretty bullish.
We’ll see how far it will go. My target for the resent Fibonacci is far away. The first target is at 12 585, and the second one is at 13 959, just below the 4 000. That’s far away for the Bitcoin in 2020.
Of course, it might happen. If it does, if we have impulsive breaks up, we might take the profits at nearly 14 000. So we’ll see how that goes. All right, guys, thanks for watching.
If you have any questions, let me know and I will see you right in the next video. Cheers.
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