Taking Profit on my Bitcoin Trade
Traders,
While I have stated all along that Bitcoin could spike to as high as 55k, though 50-52k is more likely, my target of 48k has been reached and I am choosing to take my profits now. 48k is huge resistance and I will probably not trade again until future direction can be confirmed with a close above 48k and two more candles opening and closing above that same price. If that doesn’t happen, it means we should see a bit of a pullback here as hype and euphoria dies down.
Additionally, you can see we’ve also reached RSI resistance exactly when we touch 48k. This is very significant. Watch closely over the next few days. It should be interesting.
While I have stated all along that Bitcoin could spike to as high as 55k, though 50-52k is more likely, my target of 48k has been reached and I am choosing to take my profits now. 48k is huge resistance and I will probably not trade again until future direction can be confirmed with a close above 48k and two more candles opening and closing above that same price. If that doesn’t happen, it means we should see a bit of a pullback here as hype and euphoria dies down.
Additionally, you can see we’ve also reached RSI resistance exactly when we touch 48k. This is very significant. Watch closely over the next few days. It should be interesting.
Stewdamus Trades -
Prophesying the price action of markets one chart at a time.
Crypto predictions, targets, how-tos, and much, much more!
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stewdam.us
Prophesying the price action of markets one chart at a time.
Crypto predictions, targets, how-tos, and much, much more!
Never miss a prophecy. Sign up for my free newsletter at:
stewdam.us
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