Will Bitcoin See the 2000 Level?
Updated
Hello Traders,
BTC/USD has seen in the recent time a significant rally since it is trading at the stock exchange.
BTC/USD is currently near at the psychological level of 2000. Which is quite impressive.
Now, what can we expect?
First of all, we wouldnt recommend trading the BTC/USD at its current stages, as it is way too overbought. Our bias is still bullish, but in our opinion it now too late to enter for a possible long term trade.
We would recommend waiting for a bigger correction, which is at the current stages highly possible. You can get you fingers burned very easily. SO dont try catching it now. Either on the long as well as the short side. We will wait first for a bigger term correction before we enter the market again. Can BTC/USD trade even above the 2000 level? Absolutely it is possible. BUT as we said, we dont like it at the current stages. Keep in mind the BTC/USD is highly volatile stock. If you dont do proper risk management you will eventually lose your account. So we would recommend staying on the sideline as of for right now and wait for a bigger correction before entering the market again for a better price.
Always use a stop loss while trading and never risk more than 0.5% on each trade otherwise you will sooner or later lose your account.
Cheers
BTC/USD has seen in the recent time a significant rally since it is trading at the stock exchange.
BTC/USD is currently near at the psychological level of 2000. Which is quite impressive.
Now, what can we expect?
First of all, we wouldnt recommend trading the BTC/USD at its current stages, as it is way too overbought. Our bias is still bullish, but in our opinion it now too late to enter for a possible long term trade.
We would recommend waiting for a bigger correction, which is at the current stages highly possible. You can get you fingers burned very easily. SO dont try catching it now. Either on the long as well as the short side. We will wait first for a bigger term correction before we enter the market again. Can BTC/USD trade even above the 2000 level? Absolutely it is possible. BUT as we said, we dont like it at the current stages. Keep in mind the BTC/USD is highly volatile stock. If you dont do proper risk management you will eventually lose your account. So we would recommend staying on the sideline as of for right now and wait for a bigger correction before entering the market again for a better price.
Always use a stop loss while trading and never risk more than 0.5% on each trade otherwise you will sooner or later lose your account.
Cheers
Note
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