1. Look at the MACD, each time it cross over, it is a signal to sell
Now it has breach the black ascending channel, we shall wait for it to fall back. BE PATIENT
2. 618 FIB level - Falling to this level seems scary from its current price but it is not impossible. I think likely it would fall to 7000+ price range , the 38.2 FIB level first
3. IF YOU DO NOT HAVE A STRATEGY TRADING THIS PAIR AND MERELY FOLLOWING WHOEVER THE AUTHOR IS, PLEASE NOTE THESE 3 THINGS :
A. BUY SMALL LOT TO TEST- BETTER TO HAVE SMALL WINS AND CELEBRATE THAN TO HAVE BIG LOTS , LOSE IT AND CRY. UNLESS YOU ARE A SKILLED DIVER, THE HIGHER THE PLATFORM YOU GO, THE MORE WATER SPLASH OR IMPACT IT WOULD HAVE WHEN YOU JUMP/DIVE DOWN.
B. STOP LOSS - NEVER TRADE WITHOUT USING THIS. WHERE TO PUT ? REALLY , IT DEPENDS ON YOUR RISK APPETITE. SOME WILL TELL YOU TO HAVE LONG TERM VIEW, THEN YOU CAN PUT A WIDER STOP. SOME TRADE BY THE HOURS, SO MAY BE SHORTER. WHAT'S YOUR STRATEGY? DON'T BLINDLY FOLLOW OTHERS. THEY AIN'T GOING TO SHARE THE WINNING MONEY WITH YOU WHEN THEY WIN NOR ASK YOU FOR MONEY WHEN THEY LOSE. HAVE CLARITY.
C. HAVE A LIFE OUTSIDE BITCOIN - READ ALL YOU WANT, SAY ALL YOU LIKE. THE SUN STILL RISE FROM THE EAST AND SETS IN THE WEST. WHAT'S A FAD, WHAT'S A TREND? IT IS NOT SO EASY TO SEE ELSE THE BIG BOYS LIKE NOKIA, KODAK WILL NOT DISAPPEAR FROM THE GLOBAL BRANDS. TO STAY FOCUS IN WHATEVER PRODUCTS YOU HAVE LOTS OF EXPERIENCE IN AND MAKE MONEY IS WISER THAN TO JUMP SHIP EACH TIME A NEW PRODUCT COME INTO THE MARKET. STAY FOCUS.
ALL THE BEST , EVERYONE.
Now it has breach the black ascending channel, we shall wait for it to fall back. BE PATIENT
2. 618 FIB level - Falling to this level seems scary from its current price but it is not impossible. I think likely it would fall to 7000+ price range , the 38.2 FIB level first
3. IF YOU DO NOT HAVE A STRATEGY TRADING THIS PAIR AND MERELY FOLLOWING WHOEVER THE AUTHOR IS, PLEASE NOTE THESE 3 THINGS :
A. BUY SMALL LOT TO TEST- BETTER TO HAVE SMALL WINS AND CELEBRATE THAN TO HAVE BIG LOTS , LOSE IT AND CRY. UNLESS YOU ARE A SKILLED DIVER, THE HIGHER THE PLATFORM YOU GO, THE MORE WATER SPLASH OR IMPACT IT WOULD HAVE WHEN YOU JUMP/DIVE DOWN.
B. STOP LOSS - NEVER TRADE WITHOUT USING THIS. WHERE TO PUT ? REALLY , IT DEPENDS ON YOUR RISK APPETITE. SOME WILL TELL YOU TO HAVE LONG TERM VIEW, THEN YOU CAN PUT A WIDER STOP. SOME TRADE BY THE HOURS, SO MAY BE SHORTER. WHAT'S YOUR STRATEGY? DON'T BLINDLY FOLLOW OTHERS. THEY AIN'T GOING TO SHARE THE WINNING MONEY WITH YOU WHEN THEY WIN NOR ASK YOU FOR MONEY WHEN THEY LOSE. HAVE CLARITY.
C. HAVE A LIFE OUTSIDE BITCOIN - READ ALL YOU WANT, SAY ALL YOU LIKE. THE SUN STILL RISE FROM THE EAST AND SETS IN THE WEST. WHAT'S A FAD, WHAT'S A TREND? IT IS NOT SO EASY TO SEE ELSE THE BIG BOYS LIKE NOKIA, KODAK WILL NOT DISAPPEAR FROM THE GLOBAL BRANDS. TO STAY FOCUS IN WHATEVER PRODUCTS YOU HAVE LOTS OF EXPERIENCE IN AND MAKE MONEY IS WISER THAN TO JUMP SHIP EACH TIME A NEW PRODUCT COME INTO THE MARKET. STAY FOCUS.
ALL THE BEST , EVERYONE.
A good write up about bitcoin and its future