The first time I invested in Bitcoin was November last year in ETORO. Before joining that platform, I had already 2 years of experience in stock training in our country. Two years were not that much but I was pretty confident already with my technical skills that's why I embarked on trading internationally.
It was in ETORO that I got acquainted with Crypto Currency Trading. Because of lack of knowledge and unsavory association of crypto currency with the illegal activities like money laundering and sale of drugs, I was dubious of Bitcoin as investment instrument. When I bought several Bitcoin and Ethereum Assets in ETORO, I did it just for LOL, something I can brag with friends. When these assets went down by over 18,000 pips, I lost my conviction, immediately cut my loss, moved on and never tracked that asset again . . . until December when various traditional and social media were flooded with information that Bitcoin has reached its all time high.
I was loss with words and couldn't believe it. Over the last days of December, I devoted my self in reading all I can about Bitcoin and other crypto assets. With so much literature and so much big and legitimate companies jumping into the bandwagon, I finally came to the realization that it is a technology with lots of potential and application and that it is a valid investment asset, albeit, with a very high risk rating.
And so here I am, among you, other crypto enthusiasts, just waiting for the right moment to jump into the Bitcoin trend. So applying my technical skills, I am just waiting for the right opportunity to enter a long position. I didn't buy last Jan. 4 when Bitcoin made a huge dip because I was expecting another dip the following day and that would be the best time to enter. Alas, that did not happen, and Jan. 5 was a day where buyers came to rescue and pushed the price of BTC again higher.
Looking at the Chart of BTC, it is my personal opinion that it is consolidating around 30,800 to 34,900. I hope there will be some opportunity to buy during this consolidation phase. I am now placing at 30,000 to maximize my gain as I observed that due to its volatility BTC tend to hang long bottom wicks or shadow.
Again, please take note that this is a personal reflection of mine and should not be taken as investment advice. Trade at your own risk (TAYOR)!
