BTC dips under $6000 again: buying opportunity or wait for lower lows?
You don't have to be an expert to see the pattern in BTC. Each dead cat bounce takes us to a lower low.
As seen on Trading View's chart above, we bounced off $6800 in Feb, a little lower in April and in July we dipped just under $6000. So it can be expected that we will dip lower still before that long awaited recovery.
For now all 17 of the trading view anaylists agree that one should not be buying BTC at this moment.
Perhaps with the price at $5000 this will be enough to kick-start the investment frenzy again?
Anyway, totally ignoring the 17 naysayers on trading view, I bought back in when we dipped under $6000 as I feel like we may see a small recovery from here... but this will likely be a brief one and my finger is firmly on the Tether trigger!
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Right when everyone agrees that you shouldn't be buying, could very well be the moment to buy. At least getting close.
haha! Sounds about right. I've been dipping in and out to be honest. Enjoying the ride ;)
I kind of wouldn't be surprised if it falls to under 5k. I keep saying 3k, but that number is just out of thin air. I don't think investors will really know how to invest until we return to pre-bubble levels. Then we'll have some history for them to base their gambling on. Until then, who knows what will happen, but I wouldn't be surprised if it falls a way yet.
Despite that, I buy a little at each dip. Whether that is smart or dumb, well, I guess we'll find out.
Returning to pre-bubble levels should certainly do the trick. Though if we do hit those kind of levels again the rest of the market will be left in a sorry old state. Still... the only way will be UP UP UP from there ;)
Buying a little in each dip sounds pretty sensible to me.
Honestly, after selling it for 17k last year, I wouldn't buy any now, or probably ever - the vibe on Bitcoin is very different now - I'm calling all over on Bitcoin, but hell, I got whipped on my alts today!
Yep, the alts are getting trashed with all this uncertainty.
As a functional coin I agree that BTC doesn't offer much other than its name. But without it the whole system would have to be re-structured, so for now it still stands as the king of coins and potentially a decent investment...
If it comes up, buy because it's form a double bottom:-)
I already bought back in at $6000 and it does seem to be bouncing off this line again... for now.
Come on BTC!!!
BTC will have it’s name for a long time to come I believe. I’m not sure how long exactly that name will carry it though. I’d say wait a bit longer...maybe.
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A decent pump overnight I see. Perhaps another little surge before those lower lows...
It makes me sad cause those pumps make Steem usually jump a bit but it usually is just a jerk reaction
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probably not a bad time to start some dollar cost averaging of buying. It is impossible to time the exact bottom so best to split up your purchases.
That is good advice. If only I had the spare dollars at this point! I bought 0.3BTC just under $6000 and it has seen a good increase in the last day but so too has the alt market. Who knows... perhaps we have hit the bottom for the last time??? Oh wouldn't that be lovely :)
I think bitcoin will continue to be highly volatile as long as anyone buying or selling a few hundred million can cause a big market swing.
nice post up vote and follow you