IMPORTANT!: The Reason for the Bitcoin Rally & Where to Sell

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Date: 2021-01-08 20:43:35

IMPORTANT!: Why Bitcoin is Currently Rallying & Where to Sell

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I will try and answer why Bitcoin is rallying and where you should sell in the most complete and rational way possible using on and off chain indicators and historical precedents. This is always a dicy question in general to answer, the entire price history of Bitcoin can attest to that. But the question gets even harder to tackle in a Bitcoin bull run. Rule number 1 of trading, don’t fight the trend, it is your friend. Because we’re in price discovery mode, there is no historic horizontal lines which are by far the most accurate predictions of support and resistance, but that doesn’t mean we can’t draw some new ones ourselves.

To do that, we will use the Fibonacci retracement tool to give us our lines.

Disclaimer: I am not a financial adviser and this is not financial advice.

#crypto #cryptocurrency #bitcoin