Bitcoin - What are we waiting for? When to jump in?
What are we waiting for? Simply put, for it to go a little lower but as stated in the previous post, start setting up your Altcoins Buy Orders. There are a few death crosses forming in the lower timeframes (2 hour and 3 hour) which will nudge BTC further down. A Death Cross is when the 50MA (50 moving average) crosses down the 200ma (200 Moving Average) in any timeframe but the higher the timeframe 1D (one day) 1 week, 1 Month... The more important it has and the bigger the effect. Remember that these are just indicators and not predictors, someone can easily step in and buy a ton of BTC making it spike up, but where they buy is actually highly predictable. This usually happens in areas of high confluence (where a lot of good support meets.) Which is what we have in the 9,800- 10K area. When to jump in? You can jump in and buy BTC once it goes around the $9800 area. I personally will buy other coins when this happens. However I don't buy coins with a low market cap or coins with weak projects or teams behind them, I buy solid proven coins like LTC, ETH, BNB... They haven't made me rich but they have doubled my money every few months (which will make me rich). Particularly LTC is looking to go to the $200.00 area soon so the lower it goes (And it is already very low) the better the payout. I will start buying it once it hits the $68.00 area all the way down to the $62.00 area. I will hold for a swing trade until it gets close to $200.00 and sell it. All of this is, of course, a strategy for paper trading. Don't forget to follow me for multiple updates every day.
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