Bitcoin (Magic Level, "To B or NOT to b" ?)

Bitcoin (Magic Level, "To B or NOT to b" ?)

Since there are many theories in the Crypto-Market on how to value Bitcoin & Co. one has to find ones way through that jungle. Technicals could provide some sort of help for ones Risk-Management, Position-Sizing, etc.

BTCUSD (Magic level > 6,666 USD), March 2018

We will have to see, if the level of 6,666 USD will be reached, or if a bounce from current levels should satisfy the steep correction from the 20k-levels (nearly) touched in the final months of last year (2017).

As can be seen in the chart above, a potential downmove with an eventual uplift in the upcoming months, could even drag the Bitcoin-quotations -in the meantime- to even lower levels like USD 4,950...

If that area around USD 4,950 should also be broken to the downside - then we might have to reconsider any new "Buying-plans" in the near term (medium term)...

Disclaimer/Disclosure: Ralph Gollner hereby discloses that he is currently NOT invested in Bitcoin. Bitcoin is subject of the commentary, Snapshot above (as per 18th March 2018)