Yes! Bitcoin 10k - ugh wait a second, what just happened? I hope you are not one of the people asking that question.
For many months people have been calling for bitcoin 10K. I was in the same boat and looked forward to it.
Buy the Journey Not the Destination
You want to purchase in route to a target, not when the target has been reached. Once the target has been reached is when you likely see a break in the action as all the energy has been used to get to the destination, now a breather to re-energize is needed.
Don't buy exhaustion, buy accumulation.
Looking at the daily chart of BTC you can see we had 5 straight up days as we approached 10k. Basically a straight rip from 8,200.
Then we got today's crazy rip through 10K and the euphoria sent BTC parabolic to 11,485 in about an hour.
We call that a blow off top. You want to sell those not buy them.
Where do we go from here?
Looking at the hourly chart 9,500 is a level BTC needs to hold if we do not want to see the likelihood of lower prices.
Of course anything could happen, we could turn and rip right back to highs or crumble back down to 8,200.
Crazy Market Indeed!
Some things I use:
- 1broker to trade stock and currency using my bitcoin
- Bitconnect to earn daily interest lending bitcoin (risky investment though)
Best Regards,
Disclaimer: All content in this post is my opinion and for informational purposes only.