Good mornig!
Currently we are in ranging market and so far both directions are possible! Big uncertainity in the market and maybe the best proof of this uncertainty is last 6 days close!
Until we get clear closes, clear trends, I would suggest to be safe and do not risk more than you can afford to lose! Do not even think to trade without stop losses because price can go up to 7200 or down to 5500 so not using stop losses can burn your margin account easily!
This was from trader point of you!
Technical Analysis Is Nothing If You Don't Have this Thing With You. And This is Risk Management.
Most of you cant seperate trading from investing!
If you are an investor, investing now in BTC or especially in altcoins cant be better! Yeah, Bitcoin can be 5k, there is possibility for 4k but buying BTC at 6k will be dream entry in few months and even bigger dream entry in few years!
Just when you are investing, you have to know how much can you invest! Invest as long as your loss/profit is not causing big emotional spikes! If you are making $50k per year in your job, then investing 10% in BTC should be amount that shouldn't cause any major stress. 5k in BTC can be easily 50k in year or two!
That's why I beg you to seperate trading from investment! In trading we are looking for current situation! In investing you are looking for promissing technology! If Blockchain is not promissing, then I do not know what is!