It appears that Bitcoin is being used to hedge vs the US Dollar crashing.

$84,000 is certain in sight and who knows it could get to $100,000 sooner than anyone might of thought

I still think that BTC is too volatile for my liking and therefore I've stayed out. I've been happy to avoid FOMO.

I think that many will profit from a possible further charge north. But there is also still a risk that it BTC could reverse significantly.

Comment: For anybody trading an inherently very volatile instrument like BTC (and others such as exotic currency pairs), the big issue is loss control.

Let's look at the bitcoin chart from the bigger picture. E.g. on the weekly chart. As you can see we are in the phase above the middle band and if we continue to rise like this without getting a correction of 20 or 30% then the bull market is going to be over sooner than many think. Personally I would like to see a big correction for Bitcoin .

As you can see from the daily chart , Price is respecting the Fibonacci Extensions and Retracement. The way to $100k is now clear and I would say it will happen quite soon. #bitcoin #btcusd #bitcointrading #tothemoon

Bitcoin still looks very strong. Liquidity has been taken or in other words the weak hands have been shaken out. Bitcoin is again ready for the next move. My next target is $59,264
Step by step we are heading towards $100,000

Trading Signal:
There is a Trading Signal to Buy in Bitcoin BTC
Traders can open their Buy Trades NOW


The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.