When the price rallies unabated and seems to be able to reach the moon, we can be certain that a short-term top is around the corner. Can I pinpoint the top? No!
Can the market continue higher and make me look like a fool? Yes, it certainly can!
However, cashing in profits, especially after such a vertical run is a good strategy. I believe, it is time for Bitcoin investors to start booking partial profits on their investment positions. They will get ample opportunities to re-establish long positions at lower levels when the correction starts.
The introduction of Bitcoin futures trading in just a few days will bring forth a number of short sellers who are likely to bet against the incessant rally. For the first time, the Bitcoin bulls will be face to face with the bears, who will have the tools to short sell the cryptocurrency.
It is difficult to predict whether the short sellers will force price downwards leading to a long liquidation or the bulls will force a short squeeze from the bears. Considering the uncertainty, it is wise to reduce the risk.
read more at: https://cointelegraph.com/news/cryptocurrencies-not-bubble-solve-money-problems-angellist-co-founder
Topic: 2017-12-08 Coin Telegraph - Price Analysis, Dec 06 (Read 147 times)
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