Few Words About Bitcoin

Bitcoin is a crazy market! It shows unreal upward movement supported by fundamental news. Bitcoin futures will be a good tool for big companies willing to invest in crypto and we should be ready to see new highs in this year. In spite of the market overbought, Bitcoin returns to the upward movement very quickly after quick pullbacks. We still have not seen a good correction movement which could give us good entry levels for new long trades. Of course it's not easy to stay away from the market which runs upward. But one of the main things in trading - it's proper trading. Buying in the overbought markets, it's not a smart idea. Yes, this time the market shows the power, but the next time it will drop as it should be. Now we have to wait for any pullbacks on lower timeframes and use them for building long positions. The market is overbought on all timeframes and it has great potential for falling to the previous support levels and lines. We have to take it into consideration every time when we think about opening new long trades. That's why we should not invest too much in this crazy market. Bitcoin can be stopped and reversed at any round numbers - 16 000, 17 000 or may be 20 000 levels. As for good entry zones, they will be at SMAs with periods 20 and 50. If Bitcoin starts falling, 10 000.00 level supported by SMA20 will be the 1st reversal zone for proper buying. Will we see such correction movement or the market will never return to 10 000.00 level? I don't know. Let's watch for this market and search for good trading opportunities. This is my trading idea based on the current market conditions. And what do you think about Bitcoin now? Please, share your thoughts in comments.

P.S. I just share with you my thoughts. I don't ask you to follow my trading ideas if you are not sure in them. You have to do your own market research, because only you will be responsible for any trading and investing decisions.
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Love your analysis always!
Im thinking a return to 12k with 10k being what is proper but the hysteria will prevent it from falling that far. I am eager to buy a dip because I passed on buying at 8k and idiotically didn't chip in until 14-16k. Nobody knows the longterm value on this thing though it could unprecedented.
+1 Balas
Curious as to what brokerage -- how you trade this -- you recommend? It all seems to be Telepathy -- where and how do you trade this? What is trustworthy brokerage to park some money to buy and sell. ETH is gonna pop, but not a clue how to trade this -- and that's after research and signing up with Chinese based brokerage. Not trustworthy at this point.
Any help appreciated.
@JOHNROSSCANADA, ETH pop... you mean up?

No crystal ball but I given the fireworks going off on small-mid cap coins and the relatively sluggish performance of ETH and bigger cap coins, when BTC crashes (gotta be soon now) I think ETH and the bigger cap coins at least are going down with it.
@JOHNROSSCANADA, you could check out 99bitcoins website for some neutral advice on brokers and wallets.
I think the Bitcoin will move down to 13780$ for these two days of holidays and start a new week from there.
+1 Balas
i think with CME bitcoin to 5-10k then from that point to 100k within 2 years
+5 Balas
I want to add that, the news is not why it rose in price like that the past 12 hours.. the reason is simply time. Its time for BTC, to rise, because people with a lot of capital, just made a killing pumping more than 25 billion dollars into the network. The price went up more than 20% in a matter of hours, then lost 20% of the value.. which in turn made people very rich...! The thing about the volatility about bitcoin has sunk in...

Do you guys think that the investors (read every normal person) are going to sell their kidney and all their pension money, into a new type of currency? off course not.. people are not stupid.. I invested what I thought was fair, and got the money out again... only profit...

The thing is that you have to watch out and keep a stop loss on your gains.. then its a win win.. dollars keep being dollars.
+1 Balas
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