Anthony Speciale Stock Market Analyst

Better Way to


How Proper Planning Nailed the Target Area on BTC

If you were day-trading BTC or employing a shorter-term methodology, knowing where to book your downside profit worked out really well!

I’m not much of a digital currency trader, but I do watch those markets.

And from time to time, I share commentary on them with my students and social media followers.

I’ve been watching BTC since its weekly settlement on April 4. This was my trigger for BTC to go lower.

However, the risk outweighed the reward for the swing setup I was eyeing.

Remember Risk to Reward

As many of you know, I’m a super conservative trader…

If I can’t set up more reward than risk in a trade, I’m just not interested in it.

However, I realize that a lot of my readers and followers are much shorter-term traders than I am.

So, the information I’m going to share today should be invaluable to them!

The setup I was eyeing was to go short at 42,130, with a stop at 48,235 and a target at 38,250.

While this transpired as analyzed, the risk outweighed the reward.

But if you were day-trading BTC or employing a shorter-term methodology, knowing where to book your downside profit based on this analysis worked out really well!

The Technical Setup

Let’s look at the chart and chat about how it unfolded…

Daily Chart of BTC — Source: TradingView

As noted, the weekly settlement on April 4 was the trigger for BTC to go lower.

Price action had retested the entry again on April 20 & 21 intraday but did not settle above it.

Then, price action proceeded to sell off right towards our target at 38,250 as the broader markets had exhibited similar selling pressure.

Key takeaway here is always the same… Trust the analysis.

The trend is your friend!

Will your analysis always be perfect? No!

But it doesn’t need to be perfect to be wildly successful!

Trade Like Elon

Now, there are no insiders in BTC like there are in the stock markets… But if stocks are more of your thing anyway, you need to know about my colleague and expert trader Ross Givens.

Ross’s premium Insider Effect research service focuses on corporate insider buying.

These insiders are corporate CEOs, CFOs, executives and board members either purchasing or selling shares in their own companies.

These folks have a footing of knowledge that Main Street investors simply do not.

Ross is holding a special session today at 12:00 p.m. EST, which is absolutely free to attend.

He’ll cover his strategy for trading alongside corporate insiders and generating potentially massive gains as a result.

Just click here to register and reserve your seat for his special Insider Effect presentation today at 12:00 p.m. EST.

Rules to Live By

“You see things; and you say ‘Why?’ But I dream things that never were; and I say ‘Why not?’” George Bernard Shaw

Until next time, I wish you a beautiful and blessed day!

Yours In Trading Success,

Anthony Speciale Jr.

Share on facebook
Share on twitter
Share on linkedin

Leave a Reply

Your email address will not be published.

Better Way to


Subscribe today and receive daily advice right in your inbox, guiding you to a better way to wealth.