Hi, Everyone. This is my first post even though I bought my first BTC in 2016. I enjoy the community and am amazed by the great ideas shared on this platform.
I have written down the Fibonacci targets in either scenario but I believe a consolidation period in the short term is more likely. BTC has a history of short term parabolic gains followed by longer consolidation periods. I believe it is too soon for investors to see BTC as a financial asset and completely separate from the stock market so I wouldn't be surprised if they follow similar patterns in Q2 and Q3 of 2020.
- Buy zone: +- 6750 - 8000 USD
The scenario above would be my best guess, however, if BTC breaks above the 10500 USD high of 13 Feb 2020, I would keep an eye on the targets I wrote down in the chart. As for my personal money management, I am not short at the moment, I just got extra cash ready to buy when entering the buy zone.
This is just one man's opinion, please do your own research! I have owned BTC since 2016 and mostly traded in a very passive way. I had my share of good trades, bad trades, FOMO, and a lot of times would have been better off if I just sat back, relaxed, and watched the show. Sounds familiar?
I have written down the Fibonacci targets in either scenario but I believe a consolidation period in the short term is more likely. BTC has a history of short term parabolic gains followed by longer consolidation periods. I believe it is too soon for investors to see BTC as a financial asset and completely separate from the stock market so I wouldn't be surprised if they follow similar patterns in Q2 and Q3 of 2020.
- Buy zone: +- 6750 - 8000 USD
The scenario above would be my best guess, however, if BTC breaks above the 10500 USD high of 13 Feb 2020, I would keep an eye on the targets I wrote down in the chart. As for my personal money management, I am not short at the moment, I just got extra cash ready to buy when entering the buy zone.
This is just one man's opinion, please do your own research! I have owned BTC since 2016 and mostly traded in a very passive way. I had my share of good trades, bad trades, FOMO, and a lot of times would have been better off if I just sat back, relaxed, and watched the show. Sounds familiar?
Comment:
BTC briefly bounced off the uptrend in the chart. It is still in the ascending wedge channel at the moment.