Maybe I should wait before owning my bitcoin - page 6.

Myleschetty

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Quote from: Grasper on April 23, 2023, 04:35:00 PM

My desperation after becoming plus one here to own my bitcoin has grew in a week. The first journey was to look for the best wallet to use and Electrum becomes my choice. The account has been opened and I wait impatiently for my salary to enter this week to buy the first set and keep it.

On the second thought, I checked the chart of bitcoin to know if it's safe to buy immediately. My trading experience is weak but not so bad that I can't read the chart. The chart shows bitcoin is still going down, that made me rush to tradingview advice to be sure. The monthly advice shows that I should wait.

The reading of Neutral has more vote of 10 than the Sell that has 6 and Buy that has 8.

I will let this be my guide, will wait till the Buy has the highest vote. Money investment need to be carefully planned. This is just my plan, you can advice or give it kudos.

I think you need to wait somehow as the monthly advice says because you're still convinced about what you read want exactly based on everything you just said now and you need to be sure about that before you proceed with your Bitcoin journey.
Do you want to trade Bitcoin or do you want to invest in Bitcoin?
You can want to make use of electrum but you also need to verify the electrum wallet before using it. Meanwhile, you can ledger hardware wallet and I think Nano S Plus is around $60 now.
If trading is what you decide, I will advise you first to the investment first while you learn how to read the chart and how to make use of technical analysis.

Stable090

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Quote from: Grasper on April 23, 2023, 04:35:00 PM

On the second thought, I checked the chart of bitcoin to know if it's safe to buy immediately. My trading experience is weak but not so bad that I can't read the chart. The chart shows bitcoin is still going down, that made me rush to tradingview advice to be sure. The monthly advice shows that I should wait.

When bitcoin dump to around $16k, I saw lots of people say don’t buy bitcoin yet it’s still going to dump more, Bitcoin started pumping gradually and it hit $30k+ recently, normally we don’t just expect bitcoin to keep on pumping without any correction happening, and if their is slight dump in bitcoin price, everyone will start saying bitcoin will dump more. It’s better you don’t listen to people are saying if you really want to stay long in crypto space, always do your analysis and know the best time to invest.

If you are planning to invest in bitcoin for long period of time, then I believe if you invest now it’s not really a bad idea, the only people that should be disturbed by bitcoin price movements are the bitcoin day traders or mid term investors, but if you are planning to hold for long, then you don’t have to panic.

dothebeats

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Eventually you'll outgrow the habit of relying solely on these votes and these polls to make your move in the market. Heck, I'll even go as far as saying that you will most probably buy bitcoins blindly if the goal is for the long-term. I think a lot of people here would agree about that. For now, before buying anythin, maybe learn as much as you can first. Learn about wallets prior to learning about market movements. A lot of scams and attacks have become sophisticated over the year that it's scary to be ignorant of them and how to avoid them.

Cantsay

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Quote from: Grasper on April 23, 2023, 04:35:00 PM

I will let this be my guide, will wait till the Buy has the highest vote. Money investment need to be carefully planned. This is just my plan, you can advice or give it kudos.

I understand that the reason why you're looking for the best time to buy is because you want to make more profit judging from the fact that you're not planning on investing large amount of money.
So if you're not sure of the right time to buy then you probably should consider doing DCA that way you won't be buying everything at the same price, you can just decide that you wan tot be buying bitcoin every saturday or every two saturdays and also set an amount that you want to be spending, before you know what's happening you'll have enough bitcoin in you stash. You shouldn't wait till you have milions of dollars or till the price of bitcoin gets to $5 before you invest in it.

MainIbem

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Quote from: Grasper on April 23, 2023, 04:35:00 PM

The reading of Neutral has more vote of 10 than the Sell that has 6 and Buy that has 8.

I will let this be my guide, will wait till the Buy has the highest vote. Money investment need to be carefully planned. This is just my plan, you can advice or give it kudos.

Well I will say using the trading view guides may not give you the exacts time for you to enter the market, why because there are several factors that is controlling the market and results gotten from there doesn't totally summarized all everything about bitcoin. You decides to wait for it to get more votes may typically leads you losing the right time for you to holds some reasonable amount which you expected to have, but that withstanding it's good you follows your directives and instincts.

Dr.Bitcoin_Strange

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OP, most of the time, all this price analysis of Bitcoin is not so accurate. If you have, say, $1k to invest in Bitcoin, instead of waiting for the right signal to buy, you can decide to buy $10 -$15 of Bitcoin every week just as the price fluctuates. Don't just invest the whole amount at once. There are chances that if you are only waiting for the right time to buy, the market can get into a big uptrend and maintain the price for a long time. So instead of just waiting for the perfect opportunity to buy, you can DCA.

That's 👆 not investment advice, but just a suggestion.

Aikidoka

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Currently, there is a normal correction in Bitcoin's price, but sooner or later it would increase again. I recommend buying at regular intervals, such as every one or two-weeks. Just don't use all your money that you're about to invest on bitcoin to buy in just 1 time.

If you really want to buy some Bitcoin don't wait too long, no one knows how expensive Bitcoin will be in a few months, and it may become harder for some people, including you to buy it.

Quote from: Grasper on April 23, 2023, 04:35:00 PM

And to be honest I don't trust those votes much, I'll just use my mind and stick on my own decision after reading from different sources.

Zaguru12

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Quote from: Grasper on April 23, 2023, 04:35:00 PM

Just quoted your image so it could be visible.

The image seem as if you’re following signal before investing. Although this could be right some other times but it is not entirely good to trust on them. Currently the bitcoin market is still young considering what the future holds. All this prices below 30k is still a good starting point and it will be advisable to start buying now. Using the method of DCA could save you the stress of waiting for the right time. The only right time is to buy bitcoin is to buy when you have the money right at hand. Imagine waiting for a dump of less than 20k and bitcoin starts to rise in price right to another height? It would be an opportunity missed by you.

Invest now using the DCA method, either weekly or monthly since your income is on salary

Grasper

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My desperation after becoming plus one here to own my bitcoin has grew in a week. The first journey was to look for the best wallet to use and Electrum becomes my choice. The account has been opened and I wait impatiently for my salary to enter this week to buy the first set and keep it.

On the second thought, I checked the chart of bitcoin to know if it's safe to buy immediately. My trading experience is weak but not so bad that I can't read the chart. The chart shows bitcoin is still going down, that made me rush to tradingview advice to be sure. The monthly advice shows that I should wait.

The reading of Neutral has more vote of 10 than the Sell that has 6 and Buy that has 8.

I will let this be my guide, will wait till the Buy has the highest vote. Money investment need to be carefully planned. This is just my plan, you can advice or give it kudos.

https://i.imgur.com/6MDPcan.png

Topic: Maybe I should wait before owning my bitcoin - page 6. (Read 737 times)