Up to now am not committed to a view to trade. The issue is the wide ranges, and also the deep pockets needed associated with creating profitable trades.
Currently we are break above $ 43,900 weekly chart cloud resistance, and this may ignite further buying towards $ 50,000. Once we are reaching those levels I would start feeling confident in selling it again.
The $ 42,500 - 43,500 suggestion to sell was for those venturing, and as mentioned I was not one of them expressing only my opinion. The market is lack of liquidity and not much volume may cause it to swing either way. Even when it starts looking positive, as it is now, it may turn again due to liquidations.
The medium-term picture is rather SELL much higher and an eventual move to $ 5,000 ($ 10,000) area, which most people will not agree being possible. Anyway, it is a technical forecast and anything can happen in the real world.
Currently we are break above $ 43,900 weekly chart cloud resistance, and this may ignite further buying towards $ 50,000. Once we are reaching those levels I would start feeling confident in selling it again.
The $ 42,500 - 43,500 suggestion to sell was for those venturing, and as mentioned I was not one of them expressing only my opinion. The market is lack of liquidity and not much volume may cause it to swing either way. Even when it starts looking positive, as it is now, it may turn again due to liquidations.
The medium-term picture is rather SELL much higher and an eventual move to $ 5,000 ($ 10,000) area, which most people will not agree being possible. Anyway, it is a technical forecast and anything can happen in the real world.