Bitcoin hits $17.7k as there's a lot of green on my screen!
Bitcoin is in runaway train mode
As I type, bitcoin just keeps surging.
It was around $17k a little over an hour ago, now it's getting up near $17.7k.
It's looking like a mini parabola on the 1 hr chart:
(Source: https://bittrex.com/Market/Index?MarketName=USD-BTC)
How high do we go in the near term?
I am feeling a bit sheepish because I sold a little last night around $16.7k.
So, it's already up $1k from where I sold some in less than 24 hours, yea that makes me feel good!
Things just seem too hot and like they need to pullback for a few days, but there is no pullback in sight currently.
Luckily I only sold about 15% of my total BTC holdings, so it's not going to kill me if if just keeps going.
On the plus side I have some dry powder if it does eventually dip, the problem is that the higher it goes the less likely it is to come back to much lower than where I sold some.
Oy vey!
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The question is how long you will have that DRY POWDER?
What you do when it drops to 14500 ?
Buy?
Then what you do if it goes down more, to 11K, or to 10800 ? 😃
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Hopefully I won't have it long. I will buy on a dip below where I sold it ($16.7k) that shows any kind of support. I think it ultimately goes much higher next year so the sell was just hoping to get back in a little cheaper. We shall see.