Carl Runefelt’s recent video brought some electrifying insights on the current status of Bitcoin and Ethereum trades. The CoinSpeech team has collected the most important takeaways from his appearance below. You can watch Carl Runefelt’s new video at the end of this article.
Bitcoin’s Uncertain Terrain
Runefelt issued a clear warning about potential downward trends in Bitcoin’s price. He discussed a significant $1 million long position on Bitcoin and emphasized the importance of being cautious. “So my $1 million Bitcoin position might be in danger here, but I do have a stop-loss that I put in so if we do come below our entry, we’re still going to be in profits,” he stated.
The possibility of a “pretty nasty double top” was brought up, but he offered a strategic approach: using a stop-loss to secure profits. He also highlighted critical price levels to watch, stating, “If Bitcoin breaks below these levels here 60.9, that would look really bad.”
Ethereum’s Promising Ascent
Runefelt also gave an update on his $1 million Ethereum position, which had already been highly profitable. “We made more than $160,000 on that was a beautiful, beautiful trade,” he rejoiced. He revealed plans to take further profits while being ready for future moves.
Carl strategically took off another big chunk from his Ethereum position: “Now I’m going to take off another 200,000, sorry 300,000 like that and then I click confirm, done.” He expressed confidence in Ethereum, comparing its breakout potential with Bitcoin’s past movements.
Pivotal Trading Strategies
- Stop-Loss Usage: Runefelt advised using stop-loss mechanisms to prevent significant losses and secure profits.
- Diversification: He recommended leveraging both Bitcoin and Ethereum, saying, “That’s why I love using Bitcoin and Ethereum in combination with each other.”
- Critical Levels: Monitoring key price levels can help traders make better decisions. Carl highlighted specific thresholds that could indicate significant price movements.
Exciting Bonuses for Traders
Runefelt mentioned attractive bonuses for traders using his referral links. “Bybit will give you $50,000 in bonus if you use my link down below,” he said, adding that BitFlex offers $68,000 in bonuses. Such opportunities could provide traders with substantial bonuses to capitalize on their trading strategies.