Not too long ago I posted my prediction of Bitcoin rising to the 8k levels again, based on the pattern drawn on the charts. As predicted the road to 8k is one with a lot of stops, facing a lot of resistance along the way.
I have adjusted my targets slightly to 7.6-7.8K for the shorter term. I took some profits from my last trades and actually closed all of my longs I still had open. There are more and more mixed signals showing up and while I really thought (hoped) once we broke 8k we wouldn't have to look back down again for 2018, more and more traders I very much respect are now pointing to the bad looking monthly charts. So as it's looking right now the new longs I have now opened again might be flipped to shorts once we get to the 7.8 regions.
For now I have cashed out a big portion of my profits (my BitMex account is only a tiny portion of my bankroll because well..I'm very new to trading and I don't want to risk too much) and I already have found some new bags to add it to.
I have adjusted my targets slightly to 7.6-7.8K for the shorter term. I took some profits from my last trades and actually closed all of my longs I still had open. There are more and more mixed signals showing up and while I really thought (hoped) once we broke 8k we wouldn't have to look back down again for 2018, more and more traders I very much respect are now pointing to the bad looking monthly charts. So as it's looking right now the new longs I have now opened again might be flipped to shorts once we get to the 7.8 regions.
For now I have cashed out a big portion of my profits (my BitMex account is only a tiny portion of my bankroll because well..I'm very new to trading and I don't want to risk too much) and I already have found some new bags to add it to.