When you zoom out on the weekly log chart, big picture you see the historical pull back to the 200 weekly moving avg at a min. That's about a -20% pull back from current ~$30k levels, bringing it to ~$24k. Buying Bitcoin at the 200 weekly moving avg price, is the ultimate value investing time to load up historically. We're in new uncharted territory for Bitcoin...
Next solid support level down, that def would be wise to DCA a bit as we ride this short term bear market, and while the overall markets figure themselves out.
It broke cleanly my positive red trend line, on the daily chart. Barring any further large macro issues weighing BTC down, it seems it should next find support around $37,300.
Considering the signaling from the FED of 50 basis pts hike coming up, the pressures will remain on BTC from the larger market conditions. So we'll see if it ultimately tests even lower....
I wouldn't risk doubting it, and think its worth buying bits of BTC if it keeps riding this positive trend line up as it has. If it slightly dips below it like it did in Feb 23rd, then its major affordable entry point. We're already below 50, 128 and 200 moving avgs on the daily chart. Lets if how this possible ascending triangle plays out. Not to mention on chain...
Now that we've pushed down past the resistance of the 50 moving avg (green/yellow), and broke down from the resistance of the 128 moving avg (orange/blue). And Bitcoin is also below the 61.8% fib retracement, will be trade within this range of $40k-$34k?
Been keeping an eye out here and there on the charts. Not sure if you guys saw this big up tick to $4k, but I think its far from a "bull market" lol.The CMF is just in a channel. The price needs to also go up some times, it cant just be sideways or down. But I have no idea how we will bottom, if it'll be flat for long time, or floor will just drop immediately from...
We had a big nice jump up from the 50DMA to the 128DMA, so what's next go up higher to the 200DMA or retest the lows before trying to go back up. Either way we have an unresolved bottom at around $5800-5900 that's been tried and retested one to many times, and no clear break and resolution from it, so eventually we'll have to go back to it in the medium term,...
using 2014/2015 as reference. that big final wick was the 2rd one after it first went down -65%, then it additionally went down -55% finally at this final wick, which was a big enough shock end the bear run. it technically jump higher in price than its rock bottom wick final low, but it slowly but healthily built up for essentially all of 2015. I think we are at...
