Considering the current deep discount price of Bitcoin, it's tempting to go long, especially after the recent 70% rally. Instead, I plan to wait for a few days to assess whether Bitcoin's price will experience a decline or if it will continue to surge into premium levels. While the current market conditions might seem opportune, it's crucial to acknowledge that we've been in a long position for the past four months.
My initial target was set at $49,000, and I believe it's prudent to exercise patience and stay cautious. By waiting, we can better evaluate the market's direction and potential risk factors. This approach allows us to stay safe and make informed decisions, taking into account the recent significant rally. It's important to remain mindful of the potential volatility and ensure that our actions align with our long-term strategy.
My initial target was set at $49,000, and I believe it's prudent to exercise patience and stay cautious. By waiting, we can better evaluate the market's direction and potential risk factors. This approach allows us to stay safe and make informed decisions, taking into account the recent significant rally. It's important to remain mindful of the potential volatility and ensure that our actions align with our long-term strategy.
Daniel P. Fadejev