Bitcoin – Profit after Profit on the latest signal
We have waited patiently for a new long signal on Bitcoin and we have had several on the daily chart, but the Weekly is what we wanted to see and confirm green. The long trade entry signal came in at 8747 and we soon exceeded the 10,000 price point for some excellent profits. Profit targets have been projected at 9525, 10992 and 13926. If we can get the crowds coming into Bitcoin again, that 13926 profit target should be easy to achieve and with the way Bitcoin trades it could happen fast.
Currently the daily chart is red PTS so there are new opportunities for traders who want to get long. They need to wait for the green daily PTS signal if they want a high probability long trade.
We do get many questions about the brokers we use for cryptos because there are leverage requirements that differ from broker to broker. We use IG Index spreadbetting account. The spread is around 40 points but if its moving thousands of points a week then we should be fine making that spread up quickly.
We also like lots of the other cryptos which are priced cheaper than Bitcoin and we will look at that in the members update. Always make sure your managing risk as these cryptos can move fast and are always trading.
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