What to do During Bitcoin Panick – NEWSBTC 11/30/2017


Hi it’s Invest Diva’s Kiana with News BTC and here is your crypotocurrency update. Bitcoin had a crazy day on Wednesday, first rising to $11,500, and then dropping down to the 23% Fibonacci retracement level just above $8,600. Speculations started to flow in the markets, One group saying it’s the beginning of a burst. The other saying it’s a temporary pullback. Considering Bitcoin’s volatile nature, either one of these groups could be right. As a lot of you guys know, I don’t like speculative trading, let alone giving advice when the markets are panicking.Remember that everyone else is watching Bitcoin today just like you, and everyone is speculating.I normally tend to stay away from volatile markets, and let it find its direction before making my next move.Therefore, I will not be giving advice on Bitcoin today.Instead, let’s take a look at Ethereum which had a more predictable correction right to the previous resistance level of 395. We were expecting the pullback because Ethereum tends to have a pullback every time it reaches new highs. ETH/USD reached a new high of $480 last week, and after consolidating in that area for for days, it rode on the Bitcoin mania and reached a predictable level. We could see further drops for ETH in the coming days, towards the next support level at 339. Thanks for watching, invest responsibly, and I’ll see you with more updates next time.

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