Today we’re getting into an instrument that has spawned a wave of revolutionary ideas that will penetrate almost if not every single industry across the globe. Of course, I’m referring to bitcoin ($BTC).
As you can see in the above daily chart, of $BTC, we’re just now breaking out through the US$8,500 mark, which gives us a high probability of further upward movement at least in the short-term.
I’m long on $BTC in any case, and think we’ll see further price appreciation over the coming months and possibly years, and hence this is a long-term position from my perspective, but if you want to take short-term profits sooner then that’s your prerogative.
If you don’t already have an account for trading bitcoin and other cryptocurrencies, you can sign up for one at Binance.
Afterthought: Here’s a current $BTC chart showing weekly candles, which better illustrates today’s breakout through the US$8,500 mark that previously served as resistance.