abel11

BITCOIN: Is This The time to buy the dip?

Short
BINANCE:BTCUSDT   Bitcoin / TetherUS
Over the past month, the price of Bitcoin has gone haywire. Since surpassing its previous all-time high in early December, the cryptocurrency kept up the momentum and increased another roughly 100% before finally selling off this past Monday.

This massive fall by Bitcoin may have been a shock to some investors. After all, if you only started investing in or watching Bitcoin’s price closely in the last few months, the coin has only gone up.

This recent crash in price is a reminder to investors of just how volatile and risky Bitcoin can be. With any asset that can grow in price considerably and quite rapidly, it can lose those gains just as quickly, if not quicker.

The recovery

Digital currency markets saw some deep losses this past Monday, as the trading sessions on January 10 and into Monday saw crypto assets lose anywhere between 25% to 40% in value. For instance, the price of bitcoin ( BTC ) slid from a value of $41,056 per unit to $30,261 per BTC shedding over 25% in fiat value.

Today, however, the crypto asset’s value has improved a great deal jumping over 6% during the last 24 hours. BTC has done considerably well over the long run as the crypto asset is still up 3.1% over the week, 82% for the month, 206% for the 90-day span, and 332% against the USD for the year. At the time of publication, BTC is trading hands for prices between $34,600 to a touch over $35,000 on Tuesday afternoon.

Despite bitcoin’s 20% crash on Monday, some options traders are betting on a continued price rally in coming weeks. Some traders, though, have been buying Jan. 29 expiry call options at the $52,000, $64,000 and $72,000 strike prices on the Deribit exchange.

From the chart analysis is this the time to buy the dip? Leave your answers in the comment section. Thank you for your support.
Comment: You need to see this short term analysis
Comment: Why Bitcoin and other Cryptocurrencies are going down.

Comments

I reckon the target is still between 30-32 before any bullish sign.what are ur thoughts?
+2 Reply
abel11 Hds0990btc
@Hds0990btc, why 30-32?
Reply
Impressive one with great set up!
+1 Reply
abel11 Sinigdha123
@Sinigdha123, nice feed back. thank you
Reply
Thanks for sharing your idea 🐻❄️🙏😊😃
+1 Reply
abel11 PolarHusk
@PolarHusk, thanks for the feed back
Reply
whent bitcoin price 60k usd ? .. who no febuary bitcoin 60k usd ?
+1 Reply
abel11 MasterInvestment
@MasterInvestment, 60k? not yet.
Reply
You don't even answer the question yourself, you ask us basically...

We never even touched the 20 week MA

I would assume we touch it soon when it is around 22-26k

If it doesn't touch the 20 week then it will go on a parabolic rise and crash by the next couple of months way before 100k

In 2017 it would ALWAYS come back down to the 20 week, the one time it didn't was when it went parabolic the last couple of months to 20k and then collapsed

If it does touch it, then the run can continue organically
+1 Reply
abel11 nzahir
@nzahir, it will be in a correction for the next few weeks,
Reply
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