Needless to say that the risk-return for a purchase at these levels is insane. Not selling Bitcoin now is also insane, because even if the price reaches the all-time high of $ 19,900, we are talking about an upside of less than 10%, irrelevant in the face of the risk taken. Bitcoin price is very close of all-time high, far from moving averages and at 161,8% Fibonacci projection. The last time that it reaches these levels was on December, 2017, when the asset reached around US$ 19,900, before the crash that drives the crypocoin to US$ 3,215 on December, 2018. It's a strong supply zone that should move it lower. The price is very far from moving averages on daily and weekly timeframes. Daily SMA200 is at US$ 11,136, but weekly SMA200 is at US$ 7,344, reforcing a scenario for a correction. The last point is that Bitcoin reached the last classical Fibonnacci projection, that is 161,8%, at US$ 18,275, projected from the last accumulation zone between US$ 9,900 and US$ 12,515. It's a great time to sell the asset and then wait for a good correction before a re-entry point. We must watch S&P 500(SPX500) and gold(XAUUSD) movements, because it could preceed a correction or a sell-off in Bitcoin. However we could see a time correction, instead a price correction, that is, the price may consolidate, waiting for the moving averages to get close to the prices, before it continues the movement to a possibly new all-time high.
Les informations et les publications ne sont pas destinées à être, et ne constituent pas, des conseils ou des recommandations en matière de finance, d'investissement, de trading ou d'autres types de conseils fournis ou approuvés par TradingView. Pour en savoir plus, consultez les Conditions d'utilisation.