Buy LIMIT Entry Price: 10200
Take Profit 1-: 12400
Stop Loss: 8200
Capital Risk: 1%
When we try to grasp the investors sentiment towards bitcoin ,they frequently split in two categories bitcoin haters and bitcoin Believers and there is a analogy called hodl which most of you have been familiar of which is famous in the group of believers but anyways whether you believe in bitcoin or not you can't deny that it already have made many millionaires and still making,we will come on it later that what we personally think about bitcoin but let's first try to dive in our macro fundamentals and technical about this asset( did i say this a asset?) well first and foremost we can't research on bitcoin from a macro view and there are many reasons behind it,one of the reason is that an asset,currency,stock or commodity must have a long track record only then we can form a macro view on that particular asset but we definitely can predicts its near or long term value but how? you guessed it right market sentiment and chart formation
even Investors like Charlie Munger have tremendous expertise in picking specific kind of stocks, in particular companies which seem relatively “cheap” were not able to control the prices Speaking at the annual meeting of the US publishing firm Daily Journal, which he chairs, in Los Angeles on Wednesday, Munger said: “I never considered for one second having anything to do with it. I detested it the moment it was raised. It’s just disgusting. Bitcoin is noxious poison.” even though mixed news are coming out but it's seems clear that bitcoin is on the chase again!!!
from our technical point of view we set our stop loss around 8200 as 8400 seems to be a major psychological resistance if price went back to this zone and our entry is 10400,our target will be 12400 In the last 10 days, we have seen a move up and the indications remain in place. The move so far has been on particularly convincing which is a indication. Also, the currency is above the psychological level of $10,000.
we will answer in one line what we think about bitcoin as global macro trader,we have invested more than 10k pound in crypto back in 2017 around march and our portfolio is well diversified, we believe bitcoin is the future and we are denying that it's a bubble but even if you think it is learn the art of investing in bubble because bubble make many smart people rich before it actually burst those who know how to invest in it!!!
Be meditative and stay dedicated!!!