Bitcoin Price Weekly Update: 24th February – 1st March 2020

Welcome to a new trading week. Bitcoin has had a long bullish streak and I believe we all got our share of the streak. Bitcoin price moved from $6,440 to $10,500. That’s a whopping 64% profit since December last year till now. Meaning if you invested $1,000 last year in December you would have converted $640 by now. The truth remains that hodling is more profitable than trading. Trading in itself works with your emotions and this is the real problem as your emotions are not always stable. In another talk, bitcoin seems to be wrapping up its present bullish move. We’re experiencing lower highs from $10,378 to $10,166 to $10,000. As it stands there are no guarantees of the continuation of the uptrend. I will advise all trades to be sold and wait for the next confident signal.
Looking at the technical indicators:   
    • Major Support Level – $9,526
    • Major Resistance Level – $10,166

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for USD/BTC: for Naira/BTC:  If you have any questions, leave it in the comment section below. Disclaimer: This article is in no way a financial advisor for your trading. Any action taken in this regard is done at your own risk. Nigerian Bitcoin Community is not liable for any loss or gain as a result of the application of this content. We advise you to do your own research.

2 thoughts on “Bitcoin Price Weekly Update: 24th February – 1st March 2020”

  1. Thank you for sharing your thoughts freely here. Some of us are novices in crypto trading etc but would like to participate and learn to become vast as much as possible to reap the benefits in this vast area. What is your advice for us or me in particular?

    Reply

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