If you have not been reading the news, last night was the first day of trading for several Bitcoin ETFs that many are excited about.
BTCUSD had a great run to 49,000 before retreating to close below 46, 915, a previous resistance level on 21/3/22. Now, we can see from weekly chart that the peak is around 65 038 level and that is also the triple top formation, a bearish signal or retreat.
So, should you rush to go buy the latest kid in town, Bitcoin ETF ? Here's an article for you reference (read here )
Please read my post with a big spoonful of salt as we can see the volatility of bitcoin or crypto for that matter. Not backed by any real assets, the price changes can be a profit one night and losses another so be mentally prepared. As always, have a specific capital allocation to this asset class so that in event it falters to zero, your total portfolio is not too affected or should I say, control the collateral damage.
At the end of the day, meeting your own investment goals is more important than following the Joneses. Do not be afraid if you did not partake in this crypto maniac fever or feel left out in any social conversation. Like the late Premier Deng said, it does not matter if it is a white or black cat so long as it can catches a mouse.
So, you can be investing in traditional boring assets like property, stocks, currencies, commodities, futures, Reits, bonds ,etc and if it generates the desired returns you are looking for, then the question to ask is WHY are you adding this crypto? Does it value add? What's your motive ? FOMO ? Peer pressure ?
Always understand the risks first and not let the staggering returns cloud your mind. Is it a once off blast of few hundreds percent returns or is it consistent YOY? Can you sleep peacefully at night without waking up to check on the prices? Does it affect your primary job ? Where are your additional source of income? Loans?
BTCUSD had a great run to 49,000 before retreating to close below 46, 915, a previous resistance level on 21/3/22. Now, we can see from weekly chart that the peak is around 65 038 level and that is also the triple top formation, a bearish signal or retreat.
So, should you rush to go buy the latest kid in town, Bitcoin ETF ? Here's an article for you reference (read here )
Please read my post with a big spoonful of salt as we can see the volatility of bitcoin or crypto for that matter. Not backed by any real assets, the price changes can be a profit one night and losses another so be mentally prepared. As always, have a specific capital allocation to this asset class so that in event it falters to zero, your total portfolio is not too affected or should I say, control the collateral damage.
At the end of the day, meeting your own investment goals is more important than following the Joneses. Do not be afraid if you did not partake in this crypto maniac fever or feel left out in any social conversation. Like the late Premier Deng said, it does not matter if it is a white or black cat so long as it can catches a mouse.
So, you can be investing in traditional boring assets like property, stocks, currencies, commodities, futures, Reits, bonds ,etc and if it generates the desired returns you are looking for, then the question to ask is WHY are you adding this crypto? Does it value add? What's your motive ? FOMO ? Peer pressure ?
Always understand the risks first and not let the staggering returns cloud your mind. Is it a once off blast of few hundreds percent returns or is it consistent YOY? Can you sleep peacefully at night without waking up to check on the prices? Does it affect your primary job ? Where are your additional source of income? Loans?
Comment:
www.cnbc.com/2024/01...nt-gain-on-week.html
Comment:
wait for retracement first
Comment:
would be good to take some profits as we can see this parabolic move up , it has to retrace sooner or later
Comment:
6500 price level seems pretty strong support