Bitcoin (XBTUSD) likely will reach 5900 and then 7000 from here
Updated
Reasons for me going long
1. It has been decided NOT to pursue the re-org approach
2. The drop in price did not sustain. Instead, buyers came back. And, the price stabilizing now.
3. Other than what happened today, until yesterday the price was bullish
4 It is at the top of the trend-line and trying to break. Once broken, the jump should be massive towards target 6167 then target 7118.
5. One after another we have bad news. But, bitcoin still stands back up.
6. Gut says this will bounce back towards 5900+ and 7000.
Reasons for not going long
1. It has been stated re-org possible that was not known before
2. No fund can be withdrawn for a week. It can cause a bit of chaos.
3. It is at the top of the trend-line and trying to break. If it can not break, then there can be a drop towards 5599.
4. The Tether thingy has not resolved yet! What is going on in Bitfinex?
Please like me if you think these has been worth reading. Please follow me as well.
And, please please write me comments what you think.
I really do not think this will go down so easy. Considering so much hype that has been there recently, I do think 7000 is in the card.
Do realize this is no way any indication by me for you to do any trading of your money. This is just my thoughts and I make more loss than I make money.
1. It has been decided NOT to pursue the re-org approach
2. The drop in price did not sustain. Instead, buyers came back. And, the price stabilizing now.
3. Other than what happened today, until yesterday the price was bullish
4 It is at the top of the trend-line and trying to break. Once broken, the jump should be massive towards target 6167 then target 7118.
5. One after another we have bad news. But, bitcoin still stands back up.
6. Gut says this will bounce back towards 5900+ and 7000.
Reasons for not going long
1. It has been stated re-org possible that was not known before
2. No fund can be withdrawn for a week. It can cause a bit of chaos.
3. It is at the top of the trend-line and trying to break. If it can not break, then there can be a drop towards 5599.
4. The Tether thingy has not resolved yet! What is going on in Bitfinex?
Please like me if you think these has been worth reading. Please follow me as well.
And, please please write me comments what you think.
I really do not think this will go down so easy. Considering so much hype that has been there recently, I do think 7000 is in the card.
Do realize this is no way any indication by me for you to do any trading of your money. This is just my thoughts and I make more loss than I make money.
Trade closed: target reached
Already in profit. You should put stop loss at a breakeven. Always consider the fees you pay. I am still trying to find a calculator that can accurately tell me breakeven point including fees. Does anyone know of such? Shoot me a comment.I am closing this trade with first target reached. do not want to go long now. I want to take the day off.I might come back. But will trade will very little amount. 5934. Yeah. Reached target. Another profitable trade. Follow me, maybe?
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