The Bitcoin attacks the top of the big triangle again!

Although the Bitcoin scored a negative daily result until Thursday 6 (!) times in a row, he seemed quite strong. This was confirmed on this Thursday. The Bitcoin was able to turn a dump of 500 USD on Thursday at 5 o´clock in the morning during the day again in a plus. At the end of this intra day reversal, there was the attack of the top of the triangle in the late evening. Good to see in the 15-minute chart of Bitcoin (Bitstamp on TradingView). That looks good! But that also distinguished itself over the 6 negative days. Because even though the days were negative, the Bitcoin stayed at the top of the triangle. This is actually always a good indicator of a later breakout upwards.

The top of the triangle is currently at 10,300 USD (Bitstamp). And in this area is also the current price of Bitcoin with a daily plus so far of about 1.2%. Let’s see if Bitcoin has the strength to break through here. The stars of the last days were clearly the Altcoins. First of all Ethereum. Ethereum has already made a great breakout from his wedge upwards. The same applies to many other Altcoins. If you put it all together, the overall picture is positive. So we can be curious if this will be confirmed in the coming days. I hinted in the last blog post that I am personally quite positive for a breakout upwards.

Accordingly, I have positioned myself with my eToro account CryptosWithB66, which forms the basis of this blog as a real and traceable account. After my shorting phase, I have gradually built up some long positions in Bitcoin, Ethereum, Ripple, Bitcoin Cash, Litecoin, IOTA, and Binance . Although one should not actually buy the resistance, in the last few days I have continued to expand my long positions with 7% of my capital in these 7 coins. Currently I have invested 35% of my capital. The goal is to build a buy-and-hold account for the second big upward movement of the cryptos. In an Ethereum position, I’m already about 30% ahead. This shows that Ethereum has already done a lot. I’ll stick to those positions too, should the Coin Market fall. Then I buy on the way down.

Oliver Michel

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Risk Warning
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 block66.de. Reprint (also in part), commercial redistribution and inclusion in commercial databases only with the written permission of the publisher.


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