$Bitcoin (BTC.CC)$ we are right at the upper Bollinger band ...
$Bitcoin(BTC.CC$ we are right at the upper Bollinger band right now technically we went through it by a few dollars statistically 90% of all price movements occur between the lower band and the upper band.. so because everybody knows this even though it's now considered risk on CPI was positive all the money on the sidelines is moving back into position the people t
hat were extremely cautious that cashed out waiting for the market to get slammed today they have to get reinvested or their clients are going to fire them is what's going to happen all that being said I think you can very realistically see some profit taking on a technical basis of Bitcoin probably half of the game today could go away and just general profit taking. the weekly trend is extremely bullish the daily right now is approaching an overbought point.
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35+ yrs in the trenches, raised tens of millions for start ups, syndicate ipo's, yrs on trading desk mkt maker.
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10baggerbammOP : the first chart on the left is the weekly you can see all of the way that it can run to the upper yellow line that's your upper moving average and we haven't technically even turned the corner right now on the weekly basis the chart on the right is your daily and you can see we are right up against the upper resistance level and that's why I'm saying I think you will see profit taking here if you look all the way back on that chart we stayed in between the lower band about 90% of the time we did break down when the market got slammed and that was when I ran attacked Israel since it rebounded we have stayed right in this channel so if you have short-term profit taking and you're on the edge you don't know what to do I would tell you lock in your profit cuz I think we are going to see about 2100 or 2200 of today's game come off the table in the next few sessions. for long-term investors maintain your long position and if we do have any type of profit taking you can add to your position if you don't want to buy Bitcoin at this price point I would encourage you to buy the leveraged ETF BITX.
10baggerbammOP : this is a chart on b i t x and you can see it's up over 15 and a half percent today.. this is what I invest in because I get tremendous leverage and when the market's great you're ring in the cash register.