I am not committing to any direction and only provide my view on it, either right or wrong.
First of all, the move up happened is said to be due to people moving from RUB in to BTC as a safe heaven. I do not buy that story, since BTC or any crypto is not a safe heaven status. It is an unregulated instrument and only speculative.
I think it is a bubble being created and one moment it will fall sharply if my personal view. Of course, we can trade it and as long we have entry and exit points, and that is what matters.
From technical perspective we are above $ 42,500 as we raced from $ 38,000 suddenly to where we are now. we are above cloud, but stochastic is high, and honestly I cannot buy it for now.
the strategy is SELL current level $ 43,100-43,250 and place stop-loss above $ 45,500. This is a financial stop-loss. I know some will disagree with me on this. That is ok and I am not putting my money where my mouth is for now. I prefer to watch the BTC and other cryptoes for the reasons stated dear friends.
First of all, the move up happened is said to be due to people moving from RUB in to BTC as a safe heaven. I do not buy that story, since BTC or any crypto is not a safe heaven status. It is an unregulated instrument and only speculative.
I think it is a bubble being created and one moment it will fall sharply if my personal view. Of course, we can trade it and as long we have entry and exit points, and that is what matters.
From technical perspective we are above $ 42,500 as we raced from $ 38,000 suddenly to where we are now. we are above cloud, but stochastic is high, and honestly I cannot buy it for now.
the strategy is SELL current level $ 43,100-43,250 and place stop-loss above $ 45,500. This is a financial stop-loss. I know some will disagree with me on this. That is ok and I am not putting my money where my mouth is for now. I prefer to watch the BTC and other cryptoes for the reasons stated dear friends.
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.