I'm very bullish on Bitcoin long term, but at the same time I'm very cautious to buy at these high levels. In my humble opinion it's better to wait for a correction if you want to buy Bitcoin. Buy low, sell high. So the current price might be a good level to take take some profit.
Here's why I sold some of my Bitcoin at $1475 USD today.
- $1475 is the 127.2% Fibonacci extension level as shown on my chart.
- We're hitting the top of the parallel channel that I've drawn (the 2 purple lines)
- The Relative Strength Index (RSI) stands at 85 which is an overbought level.
- The current price is far outside the Bollinger Band.
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Of course the price can always go higher in the coming days. You never know. This is Bitcoin, so everything is possible. But corrections will always come sooner or later. I've sold only a small part. The larger part remains in my cold wallet for the coming years.
Buy low and sell high. It's pretty simple. The problem is knowing what's low and what's high. ~ Jim Rogers.
Yet another sell signal:
Source: https://www.tradingview.com/x/MorC5NMn/
They're abound!
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Nice TA.
Hey but the all important Tone Vays is BULLISHHHHHHHHH
/s
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Glad to know you sold some of your BTC for profits but NOT all of it! Most people know I buy in 1/3rds and sell in 1/3rds.
"thirds rule strategy"
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Just traded some Bitcoin for Ethereum myself.
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good, yes, I also think that sooner or later it will decrease its price a little bit, lets see what happens
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Just traded some Bitcoin for Ethereum myself.
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Where did you get your cold wallet??
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I'm using Electrum.
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will check that out ta!
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Thanks for the analysis! :)
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You are probably right. But - wat is normal in dimensions of bitcoin???
Everything is possible. If you have time, buy and HOLD HOLD HOLD HOLD might be the best strategy. Time will tell us.
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