Hello traders,
Latest update from the bitcoin.
It is consolidating for now, while some altcoins are moving fast. Bitcoin market cap dominance is still on a downtrend, so money is flowing to the alts. However, we should be cautious, because most altcoins are reaching all time highs and the move these moves won't sustain for a long period of time.
However it is quite normal for the irrational moves to exist because of all the media, social media and corporate company's attention to crypto. Visa, apple, mastercard, tesla - you name it. Everyone is talking about crypto and the bull run continues full throtle.
Bitcoin will also move and most probably to the upside.
If we follow the TA pattern, usually the move to the upside equals the distance to the flag pole, so targets are strictly based on this pattern.
It is not wise to reject the possibility of bitcoin price going down, so you should always use stop loss and preserve your capital if trading.
Rule of thumb is to never risk more than 2% of your capital, but more conservative traders might stick to 0.25-1%.
Good luck traders
Latest update from the bitcoin.
It is consolidating for now, while some altcoins are moving fast. Bitcoin market cap dominance is still on a downtrend, so money is flowing to the alts. However, we should be cautious, because most altcoins are reaching all time highs and the move these moves won't sustain for a long period of time.
However it is quite normal for the irrational moves to exist because of all the media, social media and corporate company's attention to crypto. Visa, apple, mastercard, tesla - you name it. Everyone is talking about crypto and the bull run continues full throtle.
Bitcoin will also move and most probably to the upside.
If we follow the TA pattern, usually the move to the upside equals the distance to the flag pole, so targets are strictly based on this pattern.
It is not wise to reject the possibility of bitcoin price going down, so you should always use stop loss and preserve your capital if trading.
Rule of thumb is to never risk more than 2% of your capital, but more conservative traders might stick to 0.25-1%.
Good luck traders