Bitcoin Traders - Profit Alert!

Bitcoin traders ( not hodlers), please take note.

For all you bitcoin TRADERS who are sitting on massive profits and are unsure of an exit strategy, consider respecting the converging fibonacci cycle dates; nov. 28th, nov. 30th, dec.1st and dec. 2nd.

Get ready for a possible gut wrenching week ahead.
If you thrive in volatile trading conditions, this is the time to be vigilant and excited.

Multiple fibonacci spirals are coalescing for a possible inflection point for bitcoin.
Four finoccai spirals are all due over the next 4 days!
Translation: a short term top is imminent.

To make matters even more interesting, bitcoin is in a parabolic upswing and a bottom is due on December 5th!
Whether the bottom is just a meaningless blip on your screen or a fast deep correction is yet to be determined.
But the converging fibonaaci signals should be taken seriously.

All the blue converging lines on the chart point to a potential short term top for bitcoin.
The red arrow arrows indicate the date of the low, not necessarily the area of the low.
I included two red arrows to show the range of the possible lows.
With bitcoin, anything is possible!

Please note that the chart below is in euro's.

Please note that the chart below is in euro's, therefore bitcoin in dollars could surge to over 12, 000 USD on a continuation of the parabolic move but may not last more than mere hours.

Bitcoin has gone parabolic and for the first time has traded above the channel this year.
Most parabolic moves are not sustainable.
Time will tell regarding this move.

The safest way to protect profits is to place a mental stop at the low of the previous day.
If it is taken out, then exit your position.
Otherwise hold on for the ride!

I will add a follow-up post if volatility increases.

Risk management is more important than profits. Sleep well!

Please be advised that this post is for information purposes only I am not a financial advisor and am not giving financial advice.

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