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RE: BTC Price Action! Bear? Bull?
The TA you have done here is great and I agree that the fib retracement tool is a great tool, especially since it is widely used by the institutional investors (aka big money). Hopefully, we can get a greater amount of volume to come in to push the price up, as a 50% correction is very healthy for Bitcoin after its parabolic growth. Overall, still very bullish on Bitcoin as a store of value for cryptocurrency as a whole.
I think too much tool makes it hard to make a decision on your portfolio. Even the ichimoku cloud I don't use as often. I also think this price correction is the best time to average cost down on your positions (if they lose more than 50%) but you'll have to catch the dip which can be double edge sword.
I'm bullish on cryptocurrency too on the long term as long as developers keep doing they're research. But for a store of value might not be anytime soon (you won't like it if you account gets a 50% correction).
We're in the pioneering days of something special and I am very excited to see where things go! Dollar cost averaging is a double-edged sword I agree; however, if we look at in a long-term perspective, our portfolios are going to be up in a year as well. Overall though, you bring up some great points in this article.
Yes, if you check out the new ICOs and their whitepapers the concept and ideas are amazing. Regardless of the market we should prepare for both possibilities bear and bull. Also not to get caught up on the noise. I'll be glad to write another article.
Please keep the articles coming! I see that you share a similar level of enthusiasm about this technology that I do and I cannot wait to see what the future holds
Sure, I will. I will write the technology updates later.