BTCUSD Shown in my previous post (linked) was how crucial holding the 125 daily moving average was to BTC. As soon as it closed convincingly below it yesterday, I went 100% USDC, and shipped them to my Nexo savings account. if you don't know about that, hit me up. Returns that beat the S&P500 average annual return over the last 30 years by more than a full % with zero risk of losing capital. Too good to be true, right? I thought so too. But I digress. Point is, I will be a buyer of BTC now at areas marked on chart, and buys will increase in size as price decreases. Option 2 would be to wait and buy back in when BTC breaches the 125 MA to the upside again with authority, which should signal a return to bull market scenario. And please please please don't be fooled into thinking "Oh, the RSI is oversold, I can buy now..." like so many I see. Note the spot I highlighted on the chart from a very similar candle and very similar RSI reading last November. You will note that BTC fell over 40% more before the tide turned, and the RSI was oversold the entire time. Don't try to time this on RSI or support lines. Find consolidation areas for buys, use fibs, or simply wait on the 125 MA as it has been the most telling indicator yet of whom is really in control of price action. Follow me, don't follow me, no skin off my nose. Just putting my plan out there for all to see, win or lose. I win quite a bit more than I lose, but so what. It's only the future of money we're talking about here. You could always just cash out in regular old USD and put it in a savings account to grab that whopping what, 1% APY? Or buy some bonds for that 2% APY. Or buy the S&P500 for that 6.73% APY (thats the average annual return last 30 years btw). Personally my limit buys are already set at these levels for BTC. I also have buys for ETH, BCH, and my personal favorite underdog (sorta) which is DASH. In the meantime, I'll be getting paid 8% APY that gets compounded and paid out DAILY for my little ol' USDC's. Rule of 72 says if I just put all my money in this account and forget I own it I double my money in just 9 years, worry free. I don't know about you, but from a long term investment standpoint, I mean, wow. I'm all the way out of stocks now except for literally Kroger's and two more secrets of mine, and all focus is on crypto for the foreseeable future. As long as money runs the world, the future of money will run the markets. And make no mistake, #Fintechisthefuture. Happy hunting and GLTA!! **DISCLAIMER** Obviously just one weirdo's opinion, DO NOT buy or sell something because I said it looks pretty and then complain about losing your money please. If you think I'm full of shit, join the crowd and send a comment making fun of me. If you think I'm right, then you are obviously very smart and I'd imagine very handsome/pretty, send a comment saying we will rule the world with our cryptos soon. But whatever you do, DO NOT take this as financial advice to buy or sell securities. Thank you and good day.
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The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.