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BTC SHAKEOUT OF WEAK HANDS BEFORE A FACE RIPPING RALLY!?!? LFG!!BTC is going to close below 48,600 on the Monthly view. This is the .382 fib retracement price range. A broadening top has formed (morphing from a bull flag). We have seen higher lows over the last several months which is a good sign. With $6B in options expiring tomorrow, I expect to see more volatility short term. I wouldn’t be surprised to see a move down to the next fib level (red line in the channel). Additionally, with BTC price history & movement, a wick down to the 100 week moving average level wouldn’t be out of question. However, being the start to a new year, institutions and whales will start increasing money flow towards the space. Hedge funds are also RISK ON Q1 typically as well. Don’t let the day-to-day news (noise) force you to sell. It’s clear BTC and others are here to stay. Keep stacking and add on weakness, and don’t over leverage yourself. Typical tradefi brokerages use 2-4x leverage. Having the ability to go 50x that is absurd in my opinion. It makes traders greedy & try to go for those YOLO huge gains. Leverage is okay but be smart about it, remember the downside works against you the same way. Short term volatility ahead but hang on cuz it’s bout get fun!! SHAKEOUT OF WEAK HANDS BEFORE A FACE RIPPING RALLY!?!? LFG!!! DO YOUR OWN RESEARCH- NOT FINANCIAL ADVICE Joelthebowl- CFA
BITSTAMP:BTCUSDLong
by Joelthebowl