Coming back from the holidays the topic that would have occupied family dinner tables are Bitcoin? Crypto-what? Wait you made how much!?
What happens after is people will at least "try" to dip their toe into the water if they haven't already and which currency remains the brand for the cryptocurrency? BTC .
Whatever your views on BTC and BCH and such I will not stimulate that discussion here, we are here to trade and when I see something that looks like a trading opportunity I sure as hell want to jump on it. Having the risks and rewards in mind obviously.
The BTC broke out of the at the 14,500 level and I see two main price targets in the short term, namely, 15,500 and 16,000.
Surely you might think a 3-5% price target is boring really, in fact, those are really short-term targets that if broken will set the stage for the new larger uptrend. Meaning if you have already established your position here, ahead of the breakout, you will have the advantage of 3-5% margin of safety and benefit from the buy on breakout upswing to follow.
I won't speculate on that unless we've seen those two main short-term resistance being broken and will update again when they are.
Please comment and let me know what you think. Thanks people!