Should we break 2200 and the monthly though, the next clear target is 1800. This is where I will be picking up an additional BTC . If it somehow falls through that, 1600 is next support line. And finally if this market completely tumbles, 1200 is the clear support line that I simply cannot imagine being broken. If I'm 90% sure 1600-1800 will hold, I am damn near 100% that 1200 will.
With that being said though, until we clear August 1st with Segwit, this market has no reason to reverse to . I can see a large dump after Segwit similar to LTC. That would make sense. But this is such a great opportunity to snake in a ton of weak money before August 1st and dump on them after it's activated due to dumb money flooding in.
But hey, predicting markets is impossible so who knows. All in all I feel good, but keeping an eye on 2200 on Finex/GDAX is critical. Staying above 2400 for a day or two should point towards a moderate recovery.
Expect this. Prepare accordingly.
Buy at 2250-2300~
Option 1: IF it dropped under 2000, sell and take minor losses. Buy back AGAIN at 1800~. (This is critical, as it recovers your previous small loss. Not buying back is how weak hands stay weak.)
Option 2: IF it dropped under 2000, hold and buy more @ 1600-1800 to bring your average down.
Your result would have been positive, but there were two approaches where you could have statistically/mathematically made it out alive. And truthfully if BTC mega dumps it's likely a full trend reversal and the market is bearish for awhile. That's like predicting the rain when the sun is still out.