This idea is based on the short term: climb on March 11th and drop on March 12th.
Philakone -a guy that I follow and admire- normally refers to the Fibonacci 0.618 as the "magic number", and the retracement between 0.5 and 0.618 as the "golden pocket zone" to re-buy after a correction, if you want to go long.
If you want to go long, please be careful and read on. Don't buy a big position right now, you may regret that you didn't wait. The market right now seems quite bearish.
As you can see in the chart, we are in this golden pocket zone already for a few days. But the market looks stalled and slightly bearish: entering a trade now could be risky.
If you are a hodler or an investor and you want to accumulate bitcoin, it could be still a good moment. I'd not buy a big position right now, but do laddering purchases, e.g. submit a limit order of 100 USD at 8.9k, then 100 USD at 8.8k and so on.
If you are a noob and you want to start buying bitcoin in this period and hold it in the long term, it could be wise to do buy small amounts as mentioned above, wait and see how it goes, buy more if it dips more, or buy more later as soon as you see a confirmation in an uptrend.
In case it dips more, it's quite difficult to predict the bottom. It's almost impossible to predict the bottom. Thus, if you want to accumulate, you can really buy at several prices and then forget about it until the price reaches your target in a few days-weeks (e.g. 11.5-12k) or months (15k-20k), if not years (50k or more, if you believe in bitcoin big scale adoption).
This is also worth to watch: coinmarketcap.com/cu...oin/historical-data/
The volume is not high, which means that big players are cautious these days.
To sum it up, buy at different prices if you are unsure.
Check out Philakone's tutorial on laddering: www.youtube.com/watch?v=YysRuLoI...
Philakone -a guy that I follow and admire- normally refers to the Fibonacci 0.618 as the "magic number", and the retracement between 0.5 and 0.618 as the "golden pocket zone" to re-buy after a correction, if you want to go long.
If you want to go long, please be careful and read on. Don't buy a big position right now, you may regret that you didn't wait. The market right now seems quite bearish.
As you can see in the chart, we are in this golden pocket zone already for a few days. But the market looks stalled and slightly bearish: entering a trade now could be risky.
If you are a hodler or an investor and you want to accumulate bitcoin, it could be still a good moment. I'd not buy a big position right now, but do laddering purchases, e.g. submit a limit order of 100 USD at 8.9k, then 100 USD at 8.8k and so on.
If you are a noob and you want to start buying bitcoin in this period and hold it in the long term, it could be wise to do buy small amounts as mentioned above, wait and see how it goes, buy more if it dips more, or buy more later as soon as you see a confirmation in an uptrend.
In case it dips more, it's quite difficult to predict the bottom. It's almost impossible to predict the bottom. Thus, if you want to accumulate, you can really buy at several prices and then forget about it until the price reaches your target in a few days-weeks (e.g. 11.5-12k) or months (15k-20k), if not years (50k or more, if you believe in bitcoin big scale adoption).
This is also worth to watch: coinmarketcap.com/cu...oin/historical-data/
The volume is not high, which means that big players are cautious these days.
To sum it up, buy at different prices if you are unsure.
Check out Philakone's tutorial on laddering: www.youtube.com/watch?v=YysRuLoI...
The price is dropping. Let's find the bottom... if 8.5k breaks, we can go down to 8k. Going down more? who knows...