Considering that this time last year Bitcoin was trading at $830, it seems crazy talking about a $1,000 consolidation range for BTC. Well, that is exactly what is happening at the moment, with the price moving in a channel between $13,000 and $14,000.
No matter which time frame you look at, there is currently no clear indication from the charts whether the next big move in price will be up or down. This make it very difficult to trade at the moment, not to mention risky.
For those who buy and hold, which is what I recommend, it's a time to sit back, relax and look forward to an exciting year ahead. Think long term about your investment in Bitcoin. Doing so will help you to resist selling on impulse or in a state of panic when there is a sudden move in the market. Remember that those who sold this time last year are now wishing that they'd thought long term.
Bitcoin to the Moon is a blog dedicated to following the original cryptocurrency on a journey to its ultimate destination.
Like what you've read?
Please consider leaving a tip at 14UFE26Cs8v5fKS7XR9cipdijA3W23LTQu or scan the QR code above. You can also subscribe to keep up to date with the latest posts. Thanks very much :)