As per chart, we are in the midst of forming an IHS on weekly chart.
In this scenario, BTC will dip slightly further around 7.4 - 7.7 region, touching the 99MA + .618 fib.
We can expect a strong bounce off this area, if we do, we are back in business just in time for halving.
In terms of Macro trends, BTC does look attractive given that:
1) Fed reduce rates by 50 basis pts
2) Covid19 possibly reach pandemic
3) Acceptance of bitcoin in India & Germany
We shall wait and see what BTC does.
p.s it is always good to DCA small amounts, as you will never know what will happen.
In this scenario, BTC will dip slightly further around 7.4 - 7.7 region, touching the 99MA + .618 fib.
We can expect a strong bounce off this area, if we do, we are back in business just in time for halving.
In terms of Macro trends, BTC does look attractive given that:
1) Fed reduce rates by 50 basis pts
2) Covid19 possibly reach pandemic
3) Acceptance of bitcoin in India & Germany
We shall wait and see what BTC does.
p.s it is always good to DCA small amounts, as you will never know what will happen.
Comment:
Dump over the weekend means there is a high chance it will go lower, get ready to collect once it reaches the green buy zone.
Comment:
What did i say :)
Comment:
scar face.