Bitcoin - USD 238,855 to the moon
I was on Facebook and saw this really sarcastic post. Hahhaa.. so maybe Bitcoin is about to go to the moon. If Bitcoin does pass 238,855, then we are still early. I think Bitcoin may easily break the 100k resistance to about 150k. It may break the 238,855 mark maybe in the next cycle.
Invalidated Dead cat bounce. Ever since Bitcoin broke through the 53k, the dead cat bounce pattern. I still remember a month ago, when one of my friends asked me if she should sell everything because some YouTubers said that everything was going down. I told her that we should not listen to any YouTubers advice because many of them are quite dramatic and have short term targets. Always do your own research.
Take profits along the way after a 15 to 20 percent bounce. This reduces anxiety to panic sell and try not to leverage. Liquidation is pretty hard to take.
A case study
A couple of days ago, Bitcoin had this fakedown. It broke the support line, according to text book patterns, it could mean shorting Bitcoin but just as everyone thought that Bitcoin went down. It did the unthinkable. It went all the way up and is now on the verge of breaking the upper resistance.
