As I had written in my previous article, I had expected the price of the BTC/USD pair to drop further down from $7,800 if that level was to break. The market clearly lacks strength and usually leads to downtrends.
After dropping to $7,270, the BTC/USD pair has slightly recovered since and it is trading at $7,450 at the time of this article.
I had opened a short position at $7,750 that I have closed at $7,350. I haven't opened a new position since. I will wait until I can see clear signals/patterns pointing to the right direction.
I would appreciate your feedback and your vote very much.
Investing in cryptocoins or tokens is highly speculative and the market is largely unregulated. Anyone considering it should be prepared to lose their entire investment.
For Educational Purposes Only.
Some investors are looking for the drops as the best time to buy, as for me not too fussed as I look at investment options that give good returns so even if I buy at a high my returns on investment will give me profit in the long run with out any hard stress on trading and following the waves
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Some people invest, some trade and some do both. As long as you have a strategy that fits your needs or your ambition and that you don't deviate from it, you are bound to succeed.
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