A Major Buying Opportunity, IMVHO
When price is down at the absolute lower end of a rising long term rising channel and discounted by 40% to 50% from a rising 200 DMA, buyers have what I consider to be a one of the best buying opportunities investors could ever come across.
I will first let the following two charts speak for themselves, and the end with the challenge to post other cryptocurrencies with the same setup.
Of course, this may not be the ultimate bottom, and even better buying opportunities could theoretically arise, but are you willing to take that risk?
Read the "The Dos and Don’ts" here if you're not aware of my rules.
@cryptographic,
At this moment it's only one thing in my mind! Collect STEEM and BTS! It might give atleast 3X times ROI within couple of months time!
This is one of the best sale price ever! I don't think we will get this price lower STEEM and BTS ever again!
Cheers~
It's quite possible that we're right and that we're looking at higher long term lows once again, but never forget that the exact opposite is not impossible. Cheers
I am well positioned with the tokens I want but even I am starting to be lured in.
My latest thought is to move a bit more of my fiat and buy some more BTS. That just looks too damn cheap.
Crypto is on sale....since I bought some at $.40 and $.30 the latest rounds, $.15 looks very good.
I did add to some of my holding in another token last week....might have been a bit early but it was on sale also.
Hell everything halfway legitimate is on sale.
Perhaps someday we'll call it the great crypto fire sale!
I love your optimism. I look at things very similar way. We can clearly see the major support in both steem and BTS. Belive it or not, few weeks ago I made a comment on BTS, if it goes as low as $0.16 I would buy a big portion. And I did at $0.1555. Now it’s a matter of time. One thing I’m watching very closely right now is the volume. In this market I think volume is very important. As of now there is no volume at all. I looked at the history and after every single bear market and before the beginning of bull market the volume was very similar, almost diminishing. That’s what we have now. Also look at the MACD. It’s sooo tight. Something big is coming, there is just no way for crypto to stay that low for too long. Some are calling for $3-$4k bitcoin. It may happen, but if that’s the case, it will not be there for too long. I belive institutional investors are slowly accumulating at this price. Perhaps they do it over the counter to get it even cheaper and also maybe to remain unanimous for the time being. They usually buy when retail investors are selling. That’s why it’s called “smart money”.
Volume goes to zero, and then, BOOOOOM!
And once it goes boom there's no getting on the train until things have doubled, tripled . . .
Most people are expecting for crypto to go lower. I read every single day comments about bitcoin at $2000,... When you look at these charts, I see something totally different, I see very strong support. Also as you mentioned 200 DMA is still rising. It’s obviously not a disaster as many say. We are at this corrective cycle. There was already about 6 or 7 of them and it always was the same. At its lows people called for the end. It’s just another cycle. This time is not different. As of now I’m happy with my investment, and I can’t wait when we finaly start talking about bull market, about rising above 200 DMA and making higher highs and higher lows. Base on what I hear, there is just no way it won’t happen.
BTW: nice bounce today!
The psychological indicators are important to watch. Just like when everyone was talking 50k it was time to take something off the table, now when everyone is talking the opposite is when it's a good time to up the ante.
Hello @cryptographic,
Steem & Bitshares current market prices are good market DIPs & we must not forget to grab enough Steem & Bitshares in this moment. This sale is an accident & best opportunity people who didn't catch up them in Last year Dips. With Smart Media Token (SMT) Steem'll rocketing to moon.
~@mywhale
Indeed. A great opportunity for those who still aren't on board.
I have been buying STEEM consistently now for six months and intend to continue to do so but I am so tempted to put on a bigger buy order right now. However, I have thought of this being a great opportunity to buy other altcoins as well, BTS included. Its a tough choice and my window of opportunity is closing soon... Need to sit and consider my options!
At currently levels , calm and collected, yet with a sense of urgency, seems very reasonable to me.
Actually I think it is indeed a great opportunity to buy more. Even if this is not the ultimate bottom....which probably isn't
Actually markets is almost 16-17x since last year. It is that feeling everyone gets that it is going to go up and up and up. But this is an illusion...Eventually prices will go up and those of us who are liked twith cryptos ill have a great advantage, I just not so sure that this is going to happen soon.
Have a great day @cryptographic
Sooner or later we'll do another long term 16-17x. 😎
I really hope so my friend. Maybe it is my mistake,but...I've made thoughts and hopes that cryptos are going to be a life changing factor for my financial growth and freedom
In my honest 2 cents opinion the price of Steem is already pretty down so it's the right to invest some of your fiat in Steem. Hopefully it will give you good profit at the end. Although there is a risk that price will dip more more but it's a fact that there is always risk involved while investing in any business. People who have courage to take risk will get maximum benefit. Let's hope for the best. Thanks for sharing your input @cryptographic
No doubt about the very high possible returns involved, but don't bet the farm on it!
The problem is how you will find it that it's the absolute bottom or not.It's tough to decide for most of the investors.But through your experience and very closely market watch will give you better idea about the market.I am already stuck.If the ultimate bottom comes then i have to regret,i can't do anything else.This is a very high risk market.It may go up or it may deep down.So what will i do now?My advice is if you can arrange some money for long time then you may wait for the ultimate bottom,if you can't arrange the money then stay where you are.Because i believe the market will be back on track soon.All the charts are also showing that.Of course there is some people who are talking that crypto will be 2k/3k but i don't think so.From here it can only go up.So buy more if you can,i completely agree with you @cryptographic sir.
I'm stuck too.
And happily so. I'm positioned just in case, because sooner or later, we will see a bottom.
It's just that nobody rings a bell at bottoms and tops, so you've got to just do your best at estimating the where and when.
Thank's for your advice sir @cryptographic.I am waiting and trying to calculate the bottom.I wish luck for both of us.
The ultimate conclusion I make is that if you are only investing risk capital (money you can afford to lose) then there is no reason not to be investing in cryptocurrencies. This could be the greatest financial opportunity of our lifetimes, and people are avoiding it for mediocre reasons.
Again, I'm not saying put a lot into it. Put what you can afford to lose and then you will be a lot less emotionally attached and will be able to ride this wave.
If your objectives are aligned with making money great again, and your risk tolerance allows, I would say that from a risk/reward basis there is no better candidate at this time for advancement. But always do your own research and insist on diversifying by spreading your investment across multiple currencies.
Very well said. I agree 100%.