TheCryptAlpha
Short

Fomo is in, Now Whats Next?

BITFINEX:BTCUSD   Bitcoin / U.S. Dollar
Bitcoin will certainly trade very interesting in the next few months. If we close above $5200-5300 depending on the exchange you are looking at we will have a very bullish scenario into the $5500-6500 area which should have major overhead resistance. But... It seems to me that the market is due for a pullback and a regroup on what exactly will be the next move for bitcoin , so I would not jump to bullish scenarios and trades immediately and allow this market a chance to resolve all of the moves maybe even go sideways for a bit. If you are hyped up by the price action and think that the next shot is the moon, this is exactly how the market works, it creates this false hope of it continuing and makes you get in to greedy territory. If you've been holding or if you have just seen your holdings double in the past couple of months, dont be greedy. Take your profits and leave a small percentage of your holdings to run. You can't go wrong by taking profits, And if the market becomes very bullish you can always jump back onto the band wagon. The goal of the game is to lock those profits in!

Good luck traders!
Comment: Target #1 Reached. We should have a pull back into the weekend, Then back down
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