Just a little chart showing the incredible run of Bitcoin over the last year.
What stands out to me is the pullbacks are all very similar at around 38-40% after a strong run. If we apply this logic to the next pull back, if price was to reverse now we could see lows of 7-7.5k.
With brokers recording record sign ups and limited coins in circulation price looks sure to go higher. How will bitcoin futures affect the price? I'm not sure yet, nobody knows.
Do I want to miss out on the mania? Defiantly not, I'm in at 9050 after having previous buy orders missed by a few dollars (orders in at 3500 and 5500!) It may be a bubble, it may not, but bubbles can last years and I want a piece it!
My usual risk management is applied even if it doesn't fit my usual trading criteria.
What stands out to me is the pullbacks are all very similar at around 38-40% after a strong run. If we apply this logic to the next pull back, if price was to reverse now we could see lows of 7-7.5k.
With brokers recording record sign ups and limited coins in circulation price looks sure to go higher. How will bitcoin futures affect the price? I'm not sure yet, nobody knows.
Do I want to miss out on the mania? Defiantly not, I'm in at 9050 after having previous buy orders missed by a few dollars (orders in at 3500 and 5500!) It may be a bubble, it may not, but bubbles can last years and I want a piece it!
My usual risk management is applied even if it doesn't fit my usual trading criteria.