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RE: Trying to catch the falling knife? My Bitcoin Target Price<$9500
Yes, good point but it also again and again made U-turn after breaking 50 EMA. However, you can be right, I read a comment from some-kind of
bitcoin insider who said that he is not happy about how fast the price of bitcoin was growing lately and that he hope its price will stay around 8000 for several months and that after it will slowly grow to 20,000. However I am not sure if there is anyone who can decide how bitcoin's price will grow. It is out of anyone control I guess.
Yes, I did notice that as well. 50ema would be also be good target, and it did actually bounce from that level after this most recent dip. I was suggesting the 100ema because it would be even less risky as a buy in target for anyone on the sidelines.
I agree that the rise BTC was parabolic and unsustainable, a correction was the healthiest thing for it to do. It will be interesting to see where it heads from here. I think the less volatility the better because for its price, it actually acts a lot more like a penny stock.
Thanks for commenting!