BTC Flatline Ranging Neutral

in bitcoin •  6 years ago 

As stock market volatility increases, bitcoin takes a very predictable backseat with modest drops and gains. January 2019's 10-12% drop during the first few weeks had most 'larger' investors clamoring to exercise extreme caution and hold traditional stocks. This is obviously advice that would serve traders who excel at high frequency/volume trading.

My personal price targets are $3,444 for buying and $3,629 for selling to be adjusted after various economic reports are issued over the next two weeks.

Screen Shot 2019-01-13 at 11.59.55 PM.png

This chart illustrates holding a range well above many analysts targets of the previous low of 3,200 , but the 13th's steady increase leaves little for a bullish outbreak nor a bearish drop of greater than 4 to 6%. For trading strategy, it may be difficult for many to determine a legitimate rally versus a continuation so its definitely a 'big boys' market until the end of the month.

I have found taking 'all in' positions 2 or 4 times a day and relieving them after profit (4-8 hours) is the most sane approach. The same could be compounded into altcoin markets where the trend is inversely relational to bitcoin to secure an extra 2-4% along with profits from BTC. Care must be taken to properly hold onto bitcoin as a result of altcoin sales before selling bitcoin to fiat.

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