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Bitcoin Bitcoin News TradingView

How to PROFIT with Bitcoin prices TODAY – Should you buy NOW?

Posted On February 12, 2021 Rudy Fares 0

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Bitcoin prices exploded after the Tesla announcement, and as predicted in a previous article, other Big Tech companies started to study the possibility to integrate Bitcoins and cryptocurrencies in general. Let’s first check out how our previous trade performed, and setup a new strategy to see if we can enter the market at the current prices.

CryptoTicker’s BTC Prediction hits a perfect Bullseye

Here at CryptoTicker, all our strategies are transparent and always linked to previous articles. This past Sunday, we laid out a buy strategy that hit perfectly our price targets, as explained in this article. We basically predicted prices to breach 40K back when the price was consolidating at USD 36K, and set up a TP#1 at USD 40.8K for a profit of 13%. This trade was successful and went on to hit the second TP#2 at USD 46.3K (figure 1).

BTC/USD 4-hour chart showing BTC’s price prediction happen exactly as plotted
Fig.1 BTC/USD 4-hour chart showing BTC’s price prediction happen exactly as plotted –  TradingView.com

Should you BUY BTC at this current price TODAY?

Currently, BTC prices are around USD 47,900. There are two options to set up your trades:

1- If you’re planning a short-term strategy, you can enter the market at current prices, set a stop-loss at USD 47,000 and a take-profit at USD 50,000 provided that prices continue on their uptrend with no selling pressure.

BTC/USD 1-hour chart showing a potential short-term buy trade
Fig.2 BTC/USD 1-hour chart showing a potential short-term buy trade –  TradingView.com

2- If you’re planning for a longer time frame, it is best to wait for price confirmations. Currently, the price of BTC is hanging with no significance in TA levels as we would expect when entering ATH territories. Waiting for a small correction would be a safer idea, before we see the 50K breach.

BTC/USD 4-hour chart showing a potential medium-term buy trade
Fig.3 BTC/USD 4-hour chart showing a potential medium-term buy trade –  TradingView.com

The cryptocurrency market as a whole

In the past week, the whole cryptocurrency market was up significantly, thanks to the past events of Tesla buying BTC, and other firms looking into the matter more seriously. Cardano and Binance Coin are leading the way with 75% and 129% respective gains:

1- Bitcoin (BTC) : + 27.18 %

2- Ether (ETH) : + 7.42 %

3- Tether (USDT) : 0 % 

4- Cardano (ADA) : + 75.87 %  (surpassing DOT and XRP)

5- Ripple (XRP) : + 31.98 % 

6- Polkadot (DOT) : + 26.58 %

7- Binance Coin (BNB): + 129.38 %  (surpassing LINK and LTC)

8- Litecoin (LTC): + 22.72 %

9- Chainlink (LINK) : + 5.56 % 

10- Stellar (XLM) : + 32.61 % (surpassing BCH)

Stay Ahead, Stay Updated
Rudy Fares

How to Become a Successful Trader – 5 Steps to Follow

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It is super easy to buy Bitcoin. Just take a look at our exchange comparison!

 

 

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About Trading @CT Trader
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This post may contain promotional links that help us fund the site. When you click on the links, we receive a commission - but the prices do not change for you! :)

Disclaimer: The authors of this website may have invested in crypto currencies themselves. They are not financial advisors and only express their opinions. Anyone considering investing in crypto currencies should be well informed about these high-risk assets.

Trading with financial products, especially with CFDs involves a high level of risk and is therefore not suitable for security-conscious investors. CFDs are complex instruments and carry a high risk of losing money quickly through leverage. Be aware that most private Investors lose money, if they decide to trade CFDs. Any type of trading and speculation in financial products that can produce an unusually high return is also associated with increased risk to lose money. Note that past gains are no guarantee of positive results in the future. 

#Bitcoin#bitcoin price#bitcoin price prediction#Crypto Volatility



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