Topic: Bitcoin is in Step Cycle | Good opportunity for buying more! (Read 238 times)
I don't have good acknowledgment to read the chart but I have experience and belief for Bitcoin and altcoins this year. This year is the bullish year for cryptocurrency and the price will continue to increase, This year is not time for sell but it's time for buy and hold. Bullrish until when? I think like in 2017
I also believe that bitcoin will not fall in the long run. But he can still add some gray hair to us. It may be forming an inverted head and shoulders price pattern. Perhaps we are only at the initial period of the formation of this figure. If so, then we are in for reacumulation. But you always need to consider alternatives. This scenario will be canceled if the price falls below 40,000. I think so.
although it may drop below $ 40K, I can confirm that this is the moment when bitcoin will rise sharply and give ATH back. because the trend that has been done so far is to make a correction and will bounce back and reach a point when he was down.Moreover, @elonmusk will reportedly buy more bitcoins, there will be a large buy back by many companies which will cause the price to skyrocket sharply again from the past.
actually this bitcoin trend is very good for day trading because the movement of bitcoin is short-term, so it is possible that the profit will be large because the daily price difference is also quite high. now it remains only to look for that opportunity.
As much as I am a long term bitcoin bull, I would advise everyone who is looking to buy at this price to take a step back and question themselves this: Are you buying to hold for the long run, or are you simply buying in order to take advantage of potential short term gains on the table?
If the latter, then pause and rethink your strategy. Longing BTC when the market is clearly FOMOing is simply not a good policy to undertake.
If instead the former, then by all means. As long as you have a good DCA strategy and are willing to hold for the long haul, then you should be good.
All TA break down eventually when macro trends reverse. This step cycle analysis included.
If the latter, then pause and rethink your strategy. Longing BTC when the market is clearly FOMOing is simply not a good policy to undertake.
If instead the former, then by all means. As long as you have a good DCA strategy and are willing to hold for the long haul, then you should be good.
All TA break down eventually when macro trends reverse. This step cycle analysis included.
*remember, don't buy and sell carelessly...
The best chance to add to your Bitcoin asset portfolio is of course by buying more when it 'dips'. most likely the current Bitcoin price has not reached the ATL for this year, I am still waiting for a great opportunity to buy at ATL this year.
Depends on what you do really after because not all would really be aiming for long term hodls which means they do actively trade and trying to figure out on what levelThe best chance to add to your Bitcoin asset portfolio is of course by buying more when it 'dips'. most likely the current Bitcoin price has not reached the ATL for this year, I am still waiting for a great opportunity to buy at ATL this year.
should really be the possible dip and this is the toughest challenge that you would really able to face up when making active day trades and with the help of technicals
even though it might not be that precise but at least you do have indications for you to presumpt on having a good entry which is better rather than
on making random calls without any indications which is actually a pure gamble.
*remember, don't buy and sell carelessly...
The best chance to add to your Bitcoin asset portfolio is of course by buying more when it 'dips'. most likely the current Bitcoin price has not reached the ATL for this year, I am still waiting for a great opportunity to buy at ATL this year.
The best chance to add to your Bitcoin asset portfolio is of course by buying more when it 'dips'. most likely the current Bitcoin price has not reached the ATL for this year, I am still waiting for a great opportunity to buy at ATL this year.
Good to see someone post a channel graph speculating on such a large rise over weeks. I dont have INR on my currencies list as maybe its a more recent exchange price but it can be useful to look at more then dollars for sure. Does Bombay and its main market hours have much influence on the price INR quote do you think. Japan opening is a large influence in the first hours of Monday seems like.
I cant draw anything this neat as a trend from December, its slowing down so the rate even on the lowest prices has altered
I cant draw anything this neat as a trend from December, its slowing down so the rate even on the lowest prices has altered
If that's works for you then just continue.
After all, that's the purpose of using indicators, to give us an idea to form our next strategy.
Better than doing a random guess or speculation (but no doubt it's effective at some case lol) especially for newbies who are having trouble when to buy and sell.
Thanks man. I did follow my own analysis and it worked. The step cycle actually repeated itself and look where the bitcoin has got itself today along with my investment.
I did have fomo initially but tried hard to jump in and also kept my initial investment as it is. So the math is pretty simple here, I was easily able to book the profit in this so called step cycle analysis.
Next, I believe it will break out from this but will continue to up surge until it reaches 65k Barrier.
If that's works for you then just continue.
After all, that's the purpose of using indicators, to give us an idea to form our next strategy.
Better than doing a random guess or speculation (but no doubt it's effective at some case lol) especially for newbies who are having trouble when to buy and sell.
Many were wishing that fall, though. But just to wonder how it recovers back shortly after a few price corrections.
For more than a decade of Bitcoin's existence, there is nothing change, it is still unpredictable and we can't simply think that once red charts shows, we gonna expect a huge dump but it was not like that.
It guarantees less to see such huge correction coz if we check the support level, you can't simply imagine that it remains at a high level. No, investors are still buying more bitcoin which uplifts the price too easily.
I have seen bitcoin to drop and increase after and after again so some people know what they feel like whenever it falls because it is not going to be anything at all. We do not care at all, why should we care that the price falls each and every time? Because, people who know that it will go up again know that if you buy from these falls, they can make a lot more money later on.For more than a decade of Bitcoin's existence, there is nothing change, it is still unpredictable and we can't simply think that once red charts shows, we gonna expect a huge dump but it was not like that.
It guarantees less to see such huge correction coz if we check the support level, you can't simply imagine that it remains at a high level. No, investors are still buying more bitcoin which uplifts the price too easily.
The greater thing is that altcoins make even a bigger jump as well, they look fine like bitcoin but the reality is that we end up increasing a ton lot in those small altcoins, when bitcoin makes 2x, some other alts make 10x increase instead, and that is what makes us feel awesome as well, because we know these coins we invest into make a huge profit when the time is right. This is why these problems are not really big deal for us, we know that we could make a profit anyway.
Many were wishing that fall, though. But just to wonder how it recovers back shortly after a few price corrections.
For more than a decade of Bitcoin's existence, there is nothing change, it is still unpredictable and we can't simply think that once red charts shows, we gonna expect a huge dump but it was not like that.
It guarantees less to see such huge correction coz if we check the support level, you can't simply imagine that it remains at a high level. No, investors are still buying more bitcoin which uplifts the price too easily.
For more than a decade of Bitcoin's existence, there is nothing change, it is still unpredictable and we can't simply think that once red charts shows, we gonna expect a huge dump but it was not like that.
It guarantees less to see such huge correction coz if we check the support level, you can't simply imagine that it remains at a high level. No, investors are still buying more bitcoin which uplifts the price too easily.
for a bitcoin pattern like this, take a position immediately and don't let you forget its growth. It's been corrected enough, so this pattern is relatively bullish, the corrections and bullish go hand in hand. simple cleaning and moisture resistance continues to increase. depending on the timeframe available when it is bullish. but no doubt this pattern has a Bullish tendency : Correction ( 70% : 30% )
From new ATH reached $50k above then down to $45k as of now. We are still experiencing some downtrends and some traders tends to make a short entries. And of course thats a chance and opportunity to buy bitcoin.
But I am expecting for another correction testing the $40k below. If that happens, that's a good time to buy.
But I am expecting for another correction testing the $40k below. If that happens, that's a good time to buy.
The graph shows a pattern that might not repeat.I don't trust technical analysis that much.
The current Bitcoin price drop was pretty much expected and I'm surprised that there are forum members,who are surprised,overwhelmed or sad,because to this price drop.Did you guys really expect that BTC will go to 100K,only because Ellon MusK/Tesla buys some BTC?We need way more institutional investors and way more medium sized and small investors for a big and stable price pump.
We are going back to 20-30K USD,before going to 60K USD.Just HODL more BTC and everything will be fine.
The current Bitcoin price drop was pretty much expected and I'm surprised that there are forum members,who are surprised,overwhelmed or sad,because to this price drop.Did you guys really expect that BTC will go to 100K,only because Ellon MusK/Tesla buys some BTC?We need way more institutional investors and way more medium sized and small investors for a big and stable price pump.
We are going back to 20-30K USD,before going to 60K USD.Just HODL more BTC and everything will be fine.
as expected bitcoin price may slowly go down but it will be soon to pump in no time. i can see also the graphs it quite analytical and it depends on investor or whales on when it rise and how many percentage is bitcoin price will be pumping. yes your analyze in graphs are possible and hopefully will happen.
Op, you are right and btc looks to be in accumulation phase right now which is a good buying opportunity for us. Though, I still think that btc can retrace a bit up and then we are yet to see a dip before it starts to go high. $46500 is the area I am looking for, and then $37000 where I will possibly buy some coins and hold for new ATH. It is surprising that btc didn't range since it reached its ATH at $58000.
This is why we need to learn how to analyze the market price so we can know when to buy and sell. BTC moves on a sideways trend but mostly on a down trend, but if you do see some head and shoulder trend then you can easily play in the market by doing short. I’m buying but not that big, maybe I can still see a lot more cheaper bitcoin again, in time.
Very different this time. I still a lot of people comparing bitcoin's ATH in 2017 and this early of January. Many still can't believe that it has grown a lot and missed buying it.
With the chart above , I do not expect that this is deep happening and checking on current price of bitcoin still @ $44,692 is not looking good as a deep to fly in. The monthly ending too will determine using the candle analysis. So it is still not time to predict we are already on a deep.
How is it that it's not looking good? $44000 seems to be high for me already. 
I also believe that bitcoin will not fall in the long run. But he can still add some gray hair to us. It may be forming an inverted head and shoulders price pattern. Perhaps we are only at the initial period of the formation of this figure. If so, then we are in for reacumulation. But you always need to consider alternatives. This scenario will be canceled if the price falls below 40,000. I think so.
With the chart above , I do not expect that this is deep happening and checking on current price of bitcoin still @ $44,692 is not looking good as a deep to fly in. The monthly ending too will determine using the candle analysis. So it is still not time to predict we are already on a deep.
I have seen a video that recently, the current percent that Bitcoin dropped (~20%) is healthy. It's just like what happened before in the previous ATH but even more but it's a healthy correction for sure. I think this would be a great opportunity, just like what you have mentioned.
It's basically better to buy what you are confident to invest to make sure that you are not going to be regretting your decision.
It's basically better to buy what you are confident to invest to make sure that you are not going to be regretting your decision.
Jump to: