Trade closed: target reached:
On Dec 6th when I gave the sell signal, price was above the Bollinger Bands and that has been reversed. Bitcoin corrected down to $11,159 and bounced up to the $14,000 level which is roughly where it currently sits. On a weekly basis, price has not closed below the level when I first gave the sell signal as the correction in price only occurred intraday(week). However, the price is now under the Bollinger Bands and appears ready to move back up to test the previous highs. One concern about Bitcoin is that it is only at 45% bitcoin dominance which would support the idea of BitcoinCash taking market share so if I was going to buy into bitcoin it would be BitcoinCash instead.