A Bitcoin Bull Run Spring Of 2018 ??? I guess I'll be the one to put myself out there and make the 1st thread for this cycle...
It's still really early to call this a bull run... But if you haven't been paying attention on April 4th we entered a death cross on the daily chart, where the 50 day MA dropped down below the 200 day MA...
On April 6th we hit a low of 6.5k... After six days of moving sideways, on April 12th, some institutional money bought up a large amount of BTC driving up the price by a little over $1k in less than 60 minutes which set us in motion to the up side.
We managed to break through the 50, the 200... and yesterday the 100 day MA..
Now we just need to see if we can get a golden cross where the green 50 day breaks back through the red 200 day MA... If it does we might be in for a ride.
We should know in the next couple of days...
The fundamentals of BTC have never been stronger so no reason why it couldn't happen... Plus tax season is over.. And we might have hit a double bottom at 6k in feb and 6.5k on the 6th... https://image.ibb.co/iC6bpH/Screensh...0_40_39_PM.png
I'd recommend to not chase the price. If you have some extra cash you want to invest I'd do a cash deposit on coinbase which takes up to a week to clear and transfer it over to GDAX and set a limit order at what you consider a good price. It's unlikely the price will go straight up. Wait for the dip... if you get lucky the limit order will get filled, if not, no loss.
I don't do short term trades. I'm a hodler of last resort... I've only been adding to the positions I picked up last summer. I still have limit orders set at 6.5k, 6k and 5.5k... (which I'm probably going to need to change) |