Is the Bitcoin now out of the danger zone? Not yet.

Monday and Wednesday of this week were two great days for the Bitcoin. Each 5% plus was booked here. And the Altcoins could also convince with proper price increases. It could go on like this. A look at the logarithmic 1-day chart of Bitcoin (Bitstamp on TradingView) shows the almost 2-week sideways movement of Bitcoin and the breakout in the first half of this week. This outbreak should confirm the Bitcoin now. He could do that by running at least once to the top of the downlink channel, which he would need to reach between 9,000 USD (Bitstamp) and 9,300 USD.

I had in my last blog a week ago (sorry for the long break) my request to the Bitcoin expressed that now it was a good opportunity to turn up. He fulfilled the wish. Even if one week late. I can imagine that the Bitcoin now runs into the second big wave upwards. Reminder. The first big wave took him from 3,000 USD to 14,000 USD. But even that will be a development that will slowly stretch for months. As I said. Due to the current constellation I can imagine this movement upwards. Nevertheless, one has to be careful, because the downlink channel also has a lower edge. And that is not out of reach. Ultimately, everything is a matter of probabilities.

With my eToro account CryptosWithB66, which underlies this blog as a real account, I position myself for both directions with a slightly greater likelihood of going up. For this reason, I will use another 5% of my cash and take long positions as soon as the Bitcoin confirms the uptrend. That can already be tonight or only in the coming days. The goal is to build a buy-and-hold account that can take profit from the second big wave up.

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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