How to trade the bitcoin with our forex signal provider tool?
After the exponential rise of bitcoin, the price has started to consolidate. We do not expect that the same mania will happen again that propelled the price close to 20 thousand dollars at the end of last year. It is much more likely that jumps in the price will be followed by corrections. This is the normal behavior of an asset in which a lot of investors has disappointed after its collapse in December. What’s more at some point when the current liquidity dries up, bitcoin can collapse again. And that time it can be even steeper…
When should you sell the bitcoin to make the biggest profit?
Let’s see where our forex signal provider is likely to give a sell signal. The price currently moves in a channel which shows the top of the corrections (see the chart). The top of this channel is likely to stop bitcoin’s current rebound. This should happen at around 14.800 dollars during the next couple of days. The other option may be that the price will not reach the top of the channel again and heads to the lower boundary. In that case you may try to buy it there. That would be a very risky trade, however, as the price may crash and break out from the channel to the downside as it did before twice. The sounder strategy would be to wait until the price reaches the upper boundary of the channel and sell it there because bitcoin is an inflated balloon without any value behind it.
Our forex signal provider tools are watching the market 24 hours on 7 days of the week, so you just have to wait for the alert to enter a position at the right time and at the right price.