Update on Bitcoin. BTC-USD on July 17, 2018

July 17, 2018


We want to mention one more time the importance of emotion and risk management control, especially now.  You shouldn’t treat the bullish breakout of Bitcoin like a signal of further move up, we are just starting to break the resistance and now we do not have a confident confirmation of the trend reversal. Despite the fact, that the market looks positively and demonstrates the good opportunity to move up, we always should look at the situation from the different angles: quite possible that we can be in a bullish trap and go down. The good example is the recent bitcoin price movement: the market has made a reverse H&S, but it didn’t manage to consolidate above the neck level and the asset went down, be careful and attentive.

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