Bitcoin analysis. Have we rich the top of roller coaster? (#12)
For the last 8 hours Bitcoin is retracing. Price already punch through the 23.6% Fibonacci retracement level and seams to, it will break it.
In my previous analysis #11 I discussed about consequences futures trading can bring into Bitcoin trading. One thing is almost certain. Volumes will soar and volatility also. Price could go now wild in both directions.
I will stay close and bring more of my thoughts on line, so stay tuned.
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What do you think about BTC price? Comment and present your views! Great ideas emerge from good quality discussion! I'll be immensely grateful for your contribution.
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Let steem on, to the bright future!
I think that we will see it go much higher as the word gets out. What I would like to know is what coins to invest in when Bitcoin drops in price.
I bet on EOS, BitShares, Steem, they are from DPOS algorithm family and have very fast transaction rate. ITOA is also very good complete new technology.
And from old team: Litecoin, DASH, Monero because of privacy, Dogecoin Gridcoin ....
this will be my selection!
Trade well!
Last night I bought Lite Coin. Today, I am glad that i did because it went up over 30% so far.
Nice move. Do you study technical analysis that is what I do?
Sometimes.
You should use it all the time and even do that is always posibiliy that you misjudge the market and trade in the wrong direction.
Without analyse and strategy you just guesing.
I use technical indicators when I am day trading. However, for longer term investments I rely more on fundamental analysis because the market is volatile. However, I totally agree with you.