The BTCUSD rise continues

BITSTAMP:BTCUSD   Bitcoin / U.S. Dollar
The BTCUSD rise continues. In my previous analysis I have already analyzed the exchange rate based on fractal rules. Due to the proximity of the target price, I am now conducting wave sequence analysis. The red rectangle represents the daily correction band for BITCOIN . The exchange rate is currently in this band. The rule system is as follows. 1. A strong further upward trend in the exchange rate is indicated by the upward movement of the adjustment band from halfway (10086.95usd) to the upward trend. 2. If you select the bottom of the bar (9872usd) to turn north, it means that a weakening is expected. 3. When you lower the bottom of the bar down. Then we need to be prepared for risk reduction. In case 1, the 10905usd target price may move even higher, so it is not necessary to close the long position when reaching the target price. In case 2, when the target price of 10905usd is reached, a higher adjustment may occur, so it is advisable to make a profit. In case 3, the position can be halved by reducing the risk. But when the level of 9872,48usd falls, even the long position may be closed. It's about managing a trading position. Practically the "chart side" of MM (Money management).


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