The price breaks the strong support zone formed by the uptrend line and 10000.00 support level . MACD and DMI confirm further falling. RSI drops to the oversold zone. Probably the market will be reversed at one of the possible support zones. The 1st zone is formed by the bottom line of the descending price channel and 8000.00 support level . If the price drops below, the 2nd support zone will be at the uptrend line. These 2 support zones will be good for buying based on confirmed reversal signals.
Comment: The price reached 8000.00 support zone. But we don't have any confirmations that the price bounces. We need at least 1 day for getting the 1st bullish signal.
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Break the support like a butter :)
+1 Reply
update please @DLavrov its moving up now
More FUD inbound... Did you really think the powers that be would take this lying down?
Hello DLavro
I am beginner. Excuse me for not correctly understanding the above detail analysis. I want to buy the bitcoin and missed the chance of 8k hit last night. Kindly let me know should I wait for next 2-3 days and buy it at dip. Not sure, what to do. Appreciate your quick help and answer.
+2 Reply
lardnicus BaljeetR
@BaljeetR, regardless of the current price, you should always "dollar cost average" into and out of a volatile market. That means if you want to invest $1000... You invest $100 a day for 10 days. This will give you the best "average" price over that time period. If you buy $1000 all at once, you will be stuck to that price.
+6 Reply
BaljeetR PRO lardnicus
@lardnicus, thank you . I will surely follow this.
Price actually dropped below $8k on some exchanges. I actually picked some up at $7606 on Kraken this morning.
Hamadikus cmurali
@cmurali, wp
this question has little to do with your chart. But I think many new traders want to know this.
But I am just wondering what I should have done.
A month ago I expected by seeing your charts and other charts that the bitcoin price would keep falling I sold all my BTC For dollars and now got that on my bank account.
All my alt coins (ETH / ETC / some more) I kept.
but was this wise? Because now when I look in my portfolio I lost alot of money on this.
It would have been smarter to sell them off and get USD for it aswell. And buy bitcoins -> Buy the alts back right?

I am wondering if I should do this now when btc is going to 10k -> 7k for example.
I would really appreciate your vision on this.
+3 Reply
TUDORm Rob1n2
@Rob1n2, never sell on loss...on the long term you will be on positive balance, think of the next 4-6 months
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