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).
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.
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.
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)
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