Hello, everyone. It’s Petko Aleksandrov and today is the 31 of October 2020 and I am recording because the Bitcoin reached my second target of the Fibonacci of 13 959. It’s past the 14 000 and if I zoom the chart, you will see that it was not an impulsive break.
The price pulled back and you see this candle. It’s not positive, it’s not negative, but it’s not really the impulsive break that we are looking for.
However, the target is reached. So I have gone over my portfolio to see which of the Cryptos are on profit.
And in this cycle, just the Litecoin is on the relatively higher profit. So, if I click on it and if I click on trade and I hit on sell and I select the amount of 600 EUR because this was my entry and I will sell the Litecoin deposit to the EUR wallet and you will see that my profit will be 88.57 EUR. All right?
So this is a little bit above 13%, I think. And I will just click on Preview Sell and here it is, I will just sell it. All right? It takes just a couple of seconds and the Litecoin will be sold at that price.
You can see that I have it after that in the statistics. So I have bought it on the 20th of October and I’m selling it on the 31st of October. And this amount goes straight to my EUR wallet.
All right? So the other is that I have so far in the cycle I will bring the spreadsheet on the recording screen and I will just make it a little bit bigger. I can see that some are even on a little bit cheaper price than when I bought them. Others are on a very small profit.
Only the Litecoin did this thirteen point something %, which I will put it in here and I will just put at the end of the cycle, because one more time, the end of the cycle for me is when the Bitcoin reaches the second target, OK? And I will remove the Litecoin and I will leave the rest 7 purchases for my next cycle.
And this is actually for the first time where we see the Bitcoin having such gains against all the other Cryptocurrencies and we are ahead of the US elections. The markets are quite unstable. Same with the currencies.
We usually see the JPY. If I open a trading platform called MetaTrader and I show you, for example, the EURJPY chart, and if I go to the daily chart, you will see that EURJPY falls down, which means the JPY is rising.
Same thing. If I go to the USDJPY, you will see that recently the JPY is much stronger than the USD and JPY is considered a safe haven currency on the Forex market, which means that whenever there is uncertainty on the markets, the investors put their money into JPY.
So this is just what happens at the moment with the Bitcoin and not only the US elections, but we’re in front of the second lockdown because of the Coronavirus. Quite unpredictable moves are expected, but the investors, they always look to put their money into the trusted assets, which for the currencies is the JPY, as I said.
And obviously, for the Cryptocurrency, this is the Bitcoin because it’s the most readable one, and it is the one that has obviously the biggest capitalization on all Cryptocurrency exchanges. So this is what happens at the moment.
All the money flow basically in the Bitcoin and the rest are just going sideways. Some even are falling. And I think this is temporary.
We’ll see how it goes during the next months. I will stick strictly to the system that I have. I will be looking now for the new counter trend lines and obviously, I will have the new Fibonaccies. So let me see where it will be.
This one will be big for sure because we had a huge previous target. So I will take just the new high and I will bring it to the lowest point of the replacement, which is just right here.
And you can see that that’s a huge Fibonacci starting from the 11 200 up to 14 096. And you see where are the targets, 15 887. And the second one is at 18 784.
And I will make sure to put them precisely to have the targets precisely. So the first target is quite possible for me. I Will see if we will have new Fibonacci. If we have a new downtrend, then we will restart it, as you know.
But for the moment I will be looking at the first target with 61.8% and we will see if the price reaches this target which of the Cryptocurrencies will be on profit, if there will be no any, I am just holding them, waiting for the new opportunity.
And of course, in the meantime, if I see new counter trend lines, new opportunities to buy, I will use the chance. All right? Thank you very much for watching. If you have questions, let me know in the comments below.
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