If bitcoin is able to pump through current resistance (5500-5800) on expanding volume I think the time to begin buying the dip will have arrived. If, however, Bitcoin is unable to maintain its bullish posture and is instead rejected at resistance this whole move can be chalked up to a retest of support turned resistance..a devlopment that would be very bearish. For the moment I am 75 percent hedged in cash and 25 percent in bitcoin. I have no levered positions either way and am for the moment happy to sit in USD. I want to advise any blossoming traders out there this...always, always, let your first task be to preserve capital and reduce risk. When I first got started trading i regularly 10x-20x my entire account everytime I went into a position. This led to massive gains at first but eventually led to liquidations. I am not ashamed to say I have lost serveral accounts over the years learning the HARD way and not listening to those that came before me. If you are new to trading please listen when I tell you that the most important thing in trading is managing risk and preserving capital. If you focus on these two things the other habits you will devolp with time.
All the best Brothers and sisters,
Red Boar
All the best Brothers and sisters,
Red Boar