Ahhhhh! How I love this market!!! So emotional and intensive!
Just a three days ago I posted a projection of the total market cap that has become reality right now, we have reached 184 Billion USD. And this is the chart I posted:
Seems that a very big order was placed to buy BITCOIN just at the Neck level and after the spontaneous long candle, the rise is kept sufficiently strong to accomplish the target here…
What to do now? Should I sell some profits, should I do nothing? should I buy more?
Whatever the answer now is an “unknown” but I am going to tell you what is my strategy…
BITCOIN has reached already the 1.618 FIBO level in this third wave as I posted yesterday, before the rise:
There is no exhaustion neither on the volume which is around 22.5 Billion USD, and seems still growing, nor in the amount of selling orders triggered/placed…
So, to me seems very likely to happen that this strong third wave is going to become an extended one. If so, I am going to focus on the next FIBO level, the 2.618:
This FIBO level is coinciding with the strongest resistance ever, placed over 6150 USD and just before the deep drop experimented on November 2018.
This resistance is really strong but the positive view is that till there we do not have any other important one. Perhaps we see some opposition around 5600 USD but looks weak as well:
so, what I have done?
My decision is that I am going to let BITCOIN flow higher , even if I am satisfied with the profits but…
I have set a STOP-LOSS at 5100 USD .
So, in the case BITCOIN-whales decide that the profit obtained is enough for the moment and, before our “House of Cards” collapses, I will sell still on profits at that price (a little bit lower actually) and I will consider afterwards where to enter again.
Honestly, I feel myself excited but insecure in order to go long right now since the “acceleration” of this market movement seems unsustainable for the moment.
Anyway, I confess I am enjoying so much!
*Disclaimer: This is just my personal point of view, please, do your own assessment and act consequently. Neither this post nor myself is responsible of any of your profit/losses obtained as a result of this information.