@srezz alongwith 34 weeks WMA, 200 days WMA (which is currently at 10k) have been a major support for past two years. BTC have been bouncing from 10k for quite sometime, let's hope it would bounce back from 34 weeks WMA as well.
@srezz alongwith 34 weeks WMA, 200 days WMA (which is currently at 10k) have been a major support for past two years. BTC have been bouncing from 10k for quite sometime, let's hope it would bounce back from 34 weeks WMA as well.
Bitcoin looks very heavy to me. Especially the last bounce off the 34 weeks WMA before the current drop. Usually the market oscillates between the nearest WMAs. So, when it bounces off the 34 WMA most of the times it revisits the 13 WMA. This is what I expected to happen in my previous market update. But it was not the case. Therefore I conclude that we are going to be bouncing around the 34 weeks WMA ( or in your terms 200 days WMA) until we brake below it.
welp, I have buys placed in the $9,400 range.
If btc goes through this and keeps dropping well i guess i'll just keep catching the falling knife.
I really hate to bet against BTC tho.
i figure even if it drops to the 5k range i'll just have to sell some long term hold stocks, to grab more coin. not together an all bad thing in my book.
I have some health care stocks, that i'm itching to sell. i really hate that industry. i rather have those funds in crypto.
thx for sharing your opinions with us Srezz.
@bsbeers I know it's a good price to buy BTC but still putting everything in one basket sounds like a terrible idea. As they say always fear the bear. Thanks
@govindsaria my target it 100k for 2020.
So if I’m in the red for a few mounts of this year I won’t stress it. Also I will use part of the btc to purchas alts.
I have the additional funds to move over if btc drops below 8k. I bought In he 12-14k range and I’ll buy more in the 9k range and I’ll buy more between 5-8k
Really if in 3 years btc is close to 100k. Wether I purchased at 5 or 10k won’t matter as much as actually purchsing.