Bitcoin isn't finished selling yet
Everyone is getting really excited about that hard bounce off the top of the last consolidation. Great place to take a scalp, no doubt. But if you want to swing for new highs.. it might be best to wait for this crowd to get stopped out on the next leg lower.
How do I know the crowd hasn't been flushed yet? Volume profile.
That red line is the price where the most volume has taken place after the last breakout. In a recent uptrend this typically indicates those transactions are emotional buyers.... those need to be flushed for us to go higher. Currently the best bid would be at 2570... that could change to 3400 ... but as of right now, real support is WAY lower.
Disclaimer: This is NOT trading or investment advice. This is simply my opinion to be used for educational purposes only. If you decide to trade you are doing so at your own risk.
If you found value in this post, please upvote and resteem. Let me know what questions you have.
Happy Hunting
Thanks for the analysis I'm still holding onto my fiat currency for now!
Doesn't matter. These are the on-boarding days. Buy same frequency, same amount. On-board your fiat slowly.
I agree about accumulation for the HODL... but there is a SHITTON of money to be made in this volatility. Total returns can be tripled... easy.
Easily lost as well. The turtle usually wins the race. Slow and steady. Boring dollar cost averaging. Works best over long term.
I've been a professional trader for 15 years... you are right, for most people. But the professional will be able to extend their gains with the vol.