Yesterday BTCUSD officially broke the downtrend channel which started late december 2017. This break out is really important and is finally changing the general mood and bring hope to investors which bought in above $17k and are still facing important losses.
I believe we will see some strong and healthy growth over the next few days and weeks, but definitely without those crazy spikes which we saw back in december. The 12 days MA is threateningly lurking above the newly formed growth channel, so my personal opinion (disclaimer: not a financial advisor lol :D) is that it is safe to start some careful short-term long positions but be ready to drop out when we will see some inevitable small corrections.
I also think it's time to start looking into some mainstream altcoins as well, some of them definitely have some catch up to do, so if you feel bold there is opportunity to have a small extra boost on those.
Many people got burnt, everyone is more careful now, so we will be so too.
I believe we will see some strong and healthy growth over the next few days and weeks, but definitely without those crazy spikes which we saw back in december. The 12 days MA is threateningly lurking above the newly formed growth channel, so my personal opinion (disclaimer: not a financial advisor lol :D) is that it is safe to start some careful short-term long positions but be ready to drop out when we will see some inevitable small corrections.
I also think it's time to start looking into some mainstream altcoins as well, some of them definitely have some catch up to do, so if you feel bold there is opportunity to have a small extra boost on those.
Many people got burnt, everyone is more careful now, so we will be so too.
I still see a bullish chart, but the growth will be very slow, people are careful, very careful now. Here is an updated chart: