Heads up on Bitcoin !!!
We are touching my area of interest, for a bounce on BTC!!
Here is the chart I posted back at the beginning of February, showing my buy level and target area. You can read the post here What now for Bitcoin??
Well, we are back at another buy level for a bounce, and now I am waiting on an entry.
Bitcoin has proven that it is still the leader in the field, and whatever it decides to do, the Altcoins will follow. And of course as it happens, many of the other coins are also at buy areas. Now we just need the entry signal!
This entry would be for a short term bounce, as I still want the markets lower overall.
Disclaimer
I am not responsible for any losses you may incur as a result of acting on any of the content contained in this article. I make no recommendations to buy or sell, and this post is purely for information and education purposes. Opinions expressed here are my own, and you should seek advice from a financial adviser.
It seemed like there was nothing but FUD from the mass media yesterday. Every analysis I read warned of another drop, but BTC is up right now. Who's to say it won't fall later on? All I know is I'm glad I didn't get in for the short term. I'd have given up by now.
i agree. recent graphs of bitcoin might tend to discourage those looking for short term. right now i'm just HODLing. XD
HODLing seems the only option for most people now, so lets hope it does turn around, and soon :).
At least we've had a mini bounce so far, and it could travel much higher. It's good for the confidence when levels that you plan in advance actually go to plan 😃. I pay little heed to all the spake in the crypto space as it is designed to cause confusion. It's like going to look at a second hand car and talking it down to the seller because you want to buy it 😈. I guess there are many out there now who own crypto, staring at red print. Not nice! In truth it could actually take years to rebound, if ever for some cryptos!
Hopefully it is running out of downward momentum. But who's to say? Long term I am bullish, but would love to have more clarity on its short term movements.
Yeah one of the many issues with cryptos is that we don't have enough history to learn from. I'm also thinking that if the US would sort their regulation out, it would bring a lot more confidence into the crypto space. We need to embrace regulation and just get it done!