Same Chart from last year, and we may see a bounce if resistance has turned to Support
Remember, we hit bottom at $3,000. The price is currently $7,600. I am still buying on the dip. The charts currently say a descending triangle is coming to a close, up or down, place your bets. I am all the way up!
I am still long on Bitcoin. I ll be buying a little more when see fit.
That was a massive move by Bitcoin that sounded the alarms around the world. Bitcoin is still fighting its way up. That alone is remarkable.
According to the RSI on the Daily chart, It would indicate that a good time to buy, if you wanted to make a bet, would be now. True or not True?. The last bottom was basically $3,000 and we are still above $8,000. Especially if you entered the Crypto space at $3,000. (you still have room to play with).
Bitcoin would have to stay above $9,000 to maintain its uptrend, otherwise we head lower. Maybe I can buy more at a cheaper price.
Bitcoin has been holding support for $9,000 for a few months, thus I would guess that over time the bottom moved up to $10,000 now. If it doesn't hold than you can see further downside but I don,t think anything lower than the $8,500 area. But if it breaks we going to $17,000. Thus, I think the risk to reward of buying or adding more money here is in Bitcoins favor.
Is there a correlation, maybe. During that brief period of uncertainty the market shifted over to gold & Bitcoin. Now all of a sudden stocks go up and Bitcoin down. I think Bitcoin just proved once again why its another option under the safe heaven list with gold.
Bitcoin is pumping like a Reebok pump sneaker. Seems to be strong support around $11,800 usd. I am upset I don't have anymore money to put in.
Looks like price is stabilizing around $9,800 and ready to make a move. However RSI still has room for $8,500, I am down con el Toro of course.
Daily chart looks crazy, however, Bitcoin is coinciding with the RSI as it follows normal RSI pattern. Although I did take profit to pay credit card debt, I still hodl for the long term other positions. I just have to keep feeding it, and feeding it, and feeding it.
According to the daily chart we are moving according to regular market movement. Higher low, higher high is still in play. And if its a bull run that we are on then I stand by $17,000 as the next area to watch in the future. HODL seems to be the best strategy in the long run thus far. I only sell for emergency cases. Other then that buying on the dip a little at a...
Bitcoin seems to be heating up like a volcano.
The only indicator showing concern in my opnion is the RSI, and thats been proven to be wrong over and over when we are in a trend. So I predict lava starting to oooooooze out the Bitcoin Volcano now.
It looks like a rocket ready to take off