Recap: Bitcoin (on the previous attached analysis) touched down at that Decision 2 and safely sailed to Green 3. Now it is hovering around Green 2. Volume is clearly stating that the most recent drop in price caused reaction in the market.
Two- and a-bit days ago, Money Man watched the glorious spike down to 51 000 on Bitstamp. It simply burned through the orderbook and caused some serious FUD. It is good to see how the price recovered form there and it makes you realize how thin the books can be on the exchanges. Also, how driven by volatility the crypto traders are and how keenly they can step into a dip.
Conclusion: Crypto is known for its bursts in volatility and once you think you know how volatile it can get, it simply breaks a bit further. Dealing with this risk while still staying in the black is not straight forward and Money Man does not have a crystal ball, but here he puts his outlook, being conservative, but not too much so either. Too much of a good thing will kill your account slowly. Remember: No guarantees, only probabilities. Very Important to me: Please like if you appreciate the effort, Please comment and develop this further and Please follow if you see this analysis thread going somewhere you would like to know about.
Two- and a-bit days ago, Money Man watched the glorious spike down to 51 000 on Bitstamp. It simply burned through the orderbook and caused some serious FUD. It is good to see how the price recovered form there and it makes you realize how thin the books can be on the exchanges. Also, how driven by volatility the crypto traders are and how keenly they can step into a dip.
Conclusion: Crypto is known for its bursts in volatility and once you think you know how volatile it can get, it simply breaks a bit further. Dealing with this risk while still staying in the black is not straight forward and Money Man does not have a crystal ball, but here he puts his outlook, being conservative, but not too much so either. Too much of a good thing will kill your account slowly. Remember: No guarantees, only probabilities. Very Important to me: Please like if you appreciate the effort, Please comment and develop this further and Please follow if you see this analysis thread going somewhere you would like to know about.
Comment:
Previous analysis on BTC
Comment:
Money Man does not like trading the news, but the market is very hot now and the ETF news is buzzing on the lines. He must decide to take some risk off or not and he did go for bringing his risks down by some - being prepared to add again once the market has made a clear decision. Giving himself options and prepared to pay for it. Price now 61350.
Comment:
Next BTC analysis
