When to call an ALL-IN Bitcoin buy?
everybody says "buy crypto, as much as you afford to lose"
But wait a minute, if you remember the 2017, you probably think this should be like "don't buy bitcoin, as much as you afford to lose!" from your asset value against a new proven asset to the world's financial system!
now, again, it seems a new opportunity is rising to enjoy the spectacular rise for BTC and altcoins against unlovely fiat money we normally earn and hold!
Rule No.1: Money management
Due to investopedia definition, money management is the process of budgeting, saving, investing, spending or otherwise overseeing the capital usage of an individual or group.
So if it's still the rule no.1, then you should not throw it away!
Rule no.2: don't left behind of the new wave!
you deserve to enjoy most of your life and your hard earned money. So I believe we should find a proper trade off between "as much as I afford to lose" and an "all in" scenario.
This will be a number, a percent of my cash or even liquid assets which I can change in to cryptos.
after finding that important figure, the very important next question is when to place that ALL IN bet?
Where are we now?
we are at a very fabulous pivot point which will be history very soon!
look at below charts to see what's above and below current level:
To the top
this is the first hard resistance level the chart performs which held the price a long period of time as support couple of months ago.
and then:
interesting? what if I tell you the 20k and $30k Bitcoin is probably happening in the few next years? and I believe it will, solid and sure!
but what is
To the down
So we can figure out the answer to the big question in this post's title?
So the famous 3200 USD support level is the first stop for the chart to hold the prices, once tested already and failed to break below in 2019.
There would be also a psychological support level at $3000, which I don't believe would be taken so serious with the bears! therefore next will be:
What would be my strategy?
I have this combination of money management and anti FOMO plan, to buy 60% of my budget in the first support 10% at the psychological support level and the balance in the 2nd support level.
If the second support never touched, I will buy back in the small corrections above. but this means we all have agreed the current bear market has reversed in to a new up trend.