BTC/USD has seen in the recent time a significant rally since it is trading at the stock exchange.
BTC/USD is currently near at the psychological level of 2000. Which is quite impressive.
Now, what can we expect?
First of all, we wouldnt recommend trading the BTC/USD at its current stages, as it is way too overbought. Our bias is still bullish, but in our opinion it now too late to enter for a possible long term trade.
We would recommend waiting for a bigger correction, which is at the current stages highly possible. You can get you fingers burned very easily. SO dont try catching it now. Either on the long as well as the short side. We will wait first for a bigger term correction before we enter the market again. Can BTC/USD trade even above the 2000 level? Absolutely it is possible. BUT as we said, we dont like it at the current stages. Keep in mind the BTC/USD is highly volatile stock. If you dont do proper risk management you will eventually lose your account. So we would recommend staying on the sideline as of for right now and wait for a bigger correction before entering the market again for a better price.
Always use a stop loss while trading and never risk more than 0.5% on each trade otherwise you will sooner or later lose your account.
Cheers
הערה
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CAREFUL. DONT TRY TO CHASE BITCOIN AT THE CURRENT STAGES EITHER ON SHORT OR LONG SIDE. TO RISKY
And you don't belive bitcoin bubble is coming ? And we will see the price much higher?
secrets2trade
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@DanielBela, If we where you we would take partial profits. BUT keep in mind that is our opinion. You should act on your own!
secrets2trade
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@DanielBela, Guess what happened in the late of 2015-01-05? After a rise of bitcoin of over 1000% between the 2013-11-25 and 2015-01-05 (which you can see in the chart) BTC/USD fell over 91% in following 58 weeks! We could eventually see some similar move in the coming weeks ahead. So be prepared for everything. As you know trading is not 100% so if you want to realize your huge profit then go for it. But we don't deny that bitcoins still can see more upside. But we don't like catching it at the current stages as everything can happen in this "emotional" zones. Markets tend to move irrationally in such areas. We hope that this helped you. If you have further questions don't hesitate to ask. Cheers
Thank you for all the help in see other point of view.
What's going on with all the cryptocurrency in the last month. 53Bilon right now crazy
Will the market gonna crash?
Is the the Boom before the fall?
That what scare me.
To much weak hands. To much rich and big players play in the pool.
secrets2trade
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@DanielBela, No problem that's why we are here for you guys :) But as we said, if you want to be on the more "safer side" you could realize some profits. You have to see it like this way. Lets say you take all your profit now and the market starts to rally even higher from current price, you will think to yourself: "Why did I closed all my positions now it would be even in bigger profit" but let's say the market crashes from current price and you took your profit you would probably say to yourself: " THANK GOD I took my profits" so as you can see you cant win this game. It will happen either way so try to think like a professional investor. Markets are always at risk. Hope you understood this small example.
Bull4Life
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@secrets2trade,
Yes I agree I will take the money in ustd.
All the coins look bad to me right now
secrets2trade
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@DanielBela, probably the best solution for your problem as of for right now!
Bull4Life
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So sell my btc now and wait for it to drop?
secrets2trade
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@DanielBela, NO SELL! BTC/USD is still bullish. But at the current stages BTC is not a buy and also not a sell!! There are better instruments to buy or sell! As i mentioned BTC/USD is NO buy and NO sell at the moment it can burst to the downside or even test the 2000 and then fall. So be on the sidelines as of for right now!