Bitcoin Price: Wait for Clear Bull Trend before Buying More Cryptocurrency - page 2.

omonuyak

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Quote from: oksgvardukraine2018 on October 11, 2018, 12:38:27 AM

Bitcoin Price: Wait for Clear Bull Trend before Buying More Cryptocurrency

Wall Street strategy firm Fundstrat Global Advisors is among the mainstream financial industry’s biggest long-term cryptocurrency bulls. However, the firm is advising clients to hold off on buying more bitcoin — at least for right now.

Writing in a recent note to clients, Fundstrat technical strategist Robert Sluymer said that investors seeking to increase their bitcoin holdings should wait for the market to make a clear trend reversal.

“Investors should remain patient and wait for evidence of an improvement in ‘trend’ before increasing exposure,” wrote Sluymer in an excerpt of the note cited in MarketWatch. “A move above the September real and relative highs remains the key resistance/reversal level that will need to be exceeded to signal the early stages of a trend reversal.”

As CCN reported, the bitcoin price has seen record stability in recent days, with BTC’s daily trading range narrowing to levels not seen in more than 17 months and the coin’s price increasingly appearing tethered to $6,550. This decline in volatility correlated with a drop in trading volume, which analysts variously attributed to a decrease in sellers or a reduction in speculative buyers.
https://www.ccn.com/bitcoin-price-wait-for-clear-bull-trend-before-buying-more-cryptocurrency/

Thank you for this kind advice and actually it is very important for us to know that when you buy bitcoin is very important as the market move and there is a clear prove that bitcoin is going to go up. I have invested at wrong time before and that affect my profits.

tomahawk9

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More like wait for a drip to buy more. If I were to follow what this article is saying, I'd be missing some serious bargains thanks to current drop. Even with such low volatility lately, you can still make some decent profits if you buy during the dips such as the one we're seeing today, so I wouldn't recommend people to wait for a trend reversal if they still want to make some profits. God knows when the reversal will arrive, in the mean time, it's much better to follow your gut and buy whenever you want rather than sitting on your ass waiting for signal of a bull trend.

Don Pedro Dinero

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I agree with all the comments here. The point is that we think long-term. If you believe in bitcoin long-term, it doesn’t matter if you buy today and drops more. However, I think they are speaking to traders. If you are looking for short-term profits, it doesn’t make sense to buy now if you think it is going to go down.

dothebeats

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IMO this shouldn't be the mindset. You can still ride the waves even without any clear bull signal arising, Averaging the price of your buys still helps in a bull run, and believe me, it even helps to lower your entry without losing too much bitcoin in the process. 'Signals' to me are nothing but mere noises often causing more confusions in the market. Buy whenever you can, and try to set an average entry point to ride the seas even if it's rough.

peter0425

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There's some contradictory in the statement. How can you increased your holding and maximize your full potential if you are not going to buy in the dip? And instead he advises his client to wait for a bull market before buying? I don't get it. Specially if you are into it for the long haul. Its better to accumulate more at this time and wait for the market to make a trend reversal and then make the decision to hold or cash it out to take home the profits.

Zicasu

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Now its the right time to buy when the price is pretty stable on 6k / 6500

AzrailBogov

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I do not quite agree with this, I believe that it is possible now, for example, to buy bitcoin and wait for the bull market. This is due to the fact that we cannot know for sure what will happen tomorrow - the price may start to grow at any moment.

Dragonhell

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It's almost impossible to go lower than 5500. Price follows the interest. Interest is at 7 out of 100 (in december). Lowest point in 16 months. But you need an interest level of 5 to go under 5500, which is unlikely to happen so quickly (maybe in 2 months). Numbers are based on google trend. Price follows the interest. Number one basic economic rule. 5500 is the new bottom based on the interest though.

Supperslip

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Quote from: Valakhaha on October 11, 2018, 02:26:34 AM

DOW dropped 3% so they are cashing out some btc to offset the lose.

This is GOOD cause it puts more bitcoin into circulation from the whales who HODL. The more the they sell, the more bitcoin gets to people who want it (and at discount).

https://bitcointalk.org/index.php?topic=5048129.new#new

Valakhaha

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DOW dropped 3% so they are cashing out some btc to offset the lose.

This is GOOD cause it puts more bitcoin into circulation from the whales who HODL. The more the they sell, the more bitcoin gets to people who want it (and at discount).

PETES

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This is indeed unpredictable thus it's up to us whether to hope for or not.
Nothing is clear for now but I'm pretty sure that whales won't let their profit to decrease, they surely up for something that hopefully everyone will benefited. We're already in Q4 and everything seems hush and that we're not actually used.

coinwizard_

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Waiting for a clear bull train is a risky strategy unless you're a day trader or retired worker who can buy and sell at any time. Bull runs are notoriously fast so you need to be an existing hodler to benefit

MainIbem

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I checked this morning and CMC shows a sharp drop in prices for most coins including bitcoin. IMO, this year has passed and it is not going to be significant increase in the price of bitcoin and other cryptocurrency. There are still rivers to cross but the inspiring thing is that the market has been stable at $6500 in recent times.

davis196

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A "clear bull trend" will come when the btc price does above 10,000 USD.Then,all the people,who were waiting for a clear bull trend will regret,because they didn't bought at 6500 USD. Grin

Fundstrat analysts are:
1.Complete idiots.
2.Bulls under cover,who want to spread pesimism across the market and push the prices down. Grin

jrrsparkles

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But the strategy need to be buy right now and wait foe the bull run,right? Since we can't identify when the bull run begin.

People can buy now who are hoping that crypto currencies will be the future of currency system so for them the current price will be much beneficial but fot the traders then need to be more analytic.

Hivalley

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That remains simply their own very opinion,since as we all know that the market is unpredictable,most investors should actually favor the purchase of bitcoin right now that the price is fairly stable as a pump or bull run could be in the horizon(mere speculations though).

Why wait for improvements before purchasing the bitcoin,when you can actually buy and wait for improvements to be in line for huge profits.

oksgvardukraine2018

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Bitcoin Price: Wait for Clear Bull Trend before Buying More Cryptocurrency

Wall Street strategy firm Fundstrat Global Advisors is among the mainstream financial industry’s biggest long-term cryptocurrency bulls. However, the firm is advising clients to hold off on buying more bitcoin — at least for right now.

Writing in a recent note to clients, Fundstrat technical strategist Robert Sluymer said that investors seeking to increase their bitcoin holdings should wait for the market to make a clear trend reversal.

“Investors should remain patient and wait for evidence of an improvement in ‘trend’ before increasing exposure,” wrote Sluymer in an excerpt of the note cited in MarketWatch. “A move above the September real and relative highs remains the key resistance/reversal level that will need to be exceeded to signal the early stages of a trend reversal.”

As CCN reported, the bitcoin price has seen record stability in recent days, with BTC’s daily trading range narrowing to levels not seen in more than 17 months and the coin’s price increasingly appearing tethered to $6,550. This decline in volatility correlated with a drop in trading volume, which analysts variously attributed to a decrease in sellers or a reduction in speculative buyers.
https://www.ccn.com/bitcoin-price-wait-for-clear-bull-trend-before-buying-more-cryptocurrency/

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