The Bitcoin times quite classic in the run-up to a big decision.

Lower highs and higher lows. Even the days since my last blog last Sunday confirm that the Bitcoin forms a classic triangle. Good to see in the logarithmic 1-day chart of Bitcoin (Bitstamp on TradingView) on the left in the picture. I adjusted the lower edge of the triangle due to the low on August 29th. This will make the triangle wider and allow the decision phase to last throughout September. In the end, as already discussed in recent blog posts, an outbreak is up or down.

Currently, the Bitcoin is, as you can see in the right 4-hour chart of Bitcoin, again at the top. Whenever the Bitcoin runs to an edge, you can expect a decision. The beauty of such a classic move to the top of a triangle is that it takes weeks to go through, so you can just relax and take in the bitcoin watching. Also has something!

Although I assume and hope that the Bitcoin falls at the end of the triangle first, I also assume that the Bitcoin will then start to new heights. I see it all against a background of many, many months. That’s why I’ve already invested in 6 long positions in the eToro account CryptosWithB66 with just under 30% of my capital. I’ve talked about it in recent blog posts. Although the Bitcoin and the 5 Altcoins should fall, I will hold these positions in the sense of a buy-and-hold.

So those who copy my eToro account must expect that my position in their portfolio can run quite well into the minus. Please copy me only if you can and want to endure this mentally. I will buy on the possible way down step by step. The reward will then be a decent buy-and-hold depot for cryptos with a good average entering price, which can look gorgeous on the way up.

I’m curious to see how the creators and manipulators of the Bitcoin course will direct the game. Their trading bots definitely seem to work well.

Oliver Michel

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Please note: The information does not constitute an offer to sell the treated share (s) or crypto currency or any solicitation to buy or sell securities in general. It is based on sources that the publisher believes to be trustworthy. Nevertheless, the liability for pecuniary loss, which may possibly result from the use of the statements for their own investment decision, is excluded. We note that stocks and crypto currencies are inherently risky. The total loss of the capital invested can not be excluded. You should seek further advice before making any investment decision. The publisher may hold short or long positions in the treated stock (s) or crypto currency (s). Copyright: © 2018 Reprint (also in part), commercial redistribution and inclusion in commercial databases only with the written permission of the publisher.

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