It's been a long time since we at Pennygene saw a chart change so dramatically every day. But don't worry, we're here to explain it to you.
Let me answer your question right away, no it is not time yet to sell your bitcoins. (We saw exactly the same asset price less than 13 days ago and thought it was a rising market. So I see no reason to think otherwise at the moment.) As we said many times before, the correction is necessary for the growth of any asset, especially such strong growth as it was late on the BTC chart. The market just allows you to buy perspective Altcoins, and to buy bitcoin at a lower price.
In the last few days, the total capitalization of Altcoins fell more than $100B, which of course will affect their price a lot. We advise you to take another look at the Altcoins you wanted to buy but didn't do it because of their rapidly rising price.
Regarding the BTC, we will wait for the price to reach the support zones. In this case, the price stays below $45.000 we'll wait to see how the chart reacts to the last ATH level (at $40,5k-$42k). Of course, we don't think that this is the end of the bull cycle, so we will increase our long BTC positions if the test is successful.
Let me answer your question right away, no it is not time yet to sell your bitcoins. (We saw exactly the same asset price less than 13 days ago and thought it was a rising market. So I see no reason to think otherwise at the moment.) As we said many times before, the correction is necessary for the growth of any asset, especially such strong growth as it was late on the BTC chart. The market just allows you to buy perspective Altcoins, and to buy bitcoin at a lower price.
In the last few days, the total capitalization of Altcoins fell more than $100B, which of course will affect their price a lot. We advise you to take another look at the Altcoins you wanted to buy but didn't do it because of their rapidly rising price.
Regarding the BTC, we will wait for the price to reach the support zones. In this case, the price stays below $45.000 we'll wait to see how the chart reacts to the last ATH level (at $40,5k-$42k). Of course, we don't think that this is the end of the bull cycle, so we will increase our long BTC positions if the test is successful.
Trade active:
I don't think there's any need for words.
You can see for yourself on the chart.
The idea is still relevant and the price is going exactly as we thought.
You can see for yourself on the chart.
The idea is still relevant and the price is going exactly as we thought.
Trade active:
The idea is still relevant.
Except for one thing, the price goes up to the new ATH without retesting the level as support.
Except for one thing, the price goes up to the new ATH without retesting the level as support.