The Bitcoin is in the middle of the second phase of his correction.

I would like to start today’s blog with two statements on my own behalf. The last Daily Crypto Blog appeared on Monday last week. Unfortunately, I was overridden for health reasons and therefore have paused times. Now it goes on again. The blog will no longer be released around midnight in the future. I will try to write it during the day or until no later than 10:00 pm of German time.

However, those who had followed the blog continuously, were well prepared for what happened then from Monday last week. In this last blog, I wrote that the truth was between the top two dashed red lines. And that’s exactly where it was. Because here the Bitcoin then turned down in his second phase of correction, in which he is currently. Meanwhile, the Bitcoin has formed a beautiful channel, which is highlighted in yellow in the charts. He touched down this channel on Wednesday and then turned up again.

Personally, I’m assuming that the Bitcoin will turn again towards the middle of the channel (if it reaches the middle quite well, I’m not sure), before completing the second phase of the correction by making his way in the direction of the upper dashed black line, which is at about 7,200 USD (Bitstamp). This is also my trading plan adapted. For some time now, I’ve held five short positions (four in Bitcoin and one in Bitcoin Cash) with 22.5% of my capital, all of which are positive. If the Bitcoin turns in the middle of the channel downwards, I will probably open a final short position in Bitcoin. Everything is easy to be retraced in the 1-day logarithmic chart (BitStamp on TradingView) of the Bitcoin on the left, in the 4-hour chart on the right and in my real eToro account CryptosWithB66, which underlies this blog.

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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