Time to be cautious with Bitcoin

14 ago 2017

Bitcoin still looks strong, but it's time to start preparing for a possible correction. Weekly bband breakouts have been a good indicator of local tops during this bull run. In some cases we see a correction shortly after a major breakout of the upper band, but as was shown in the highlighted area, this state can last for weeks. So this isn't a top call, but more of an indicator that it's time to be cautious. Keep a trailing stop, don't be afraid to lock in some profit, and be weary of entering if you're not in already.