This is a long term investment strategy, not for swing trading or day trading.
The US stock market seems to be in correction mode which will cause BTC to go down with it as the stock markets tank. If the SP500 continues to tank we will see BTC continuing its downtrend.
BTC is also due for a correction and is in a huge falling wedge pattern. Based on current analysis, BTC seems set to hit at least around 30k to find a support level.
But of course the ideal perfect setup would be around 20k where it touches the bottom of falling wedge and hits a major support (previous high) and also a fibonacci level. But this may or may not happen so regardless we must enter SOME at around 30k first.
First buy will be 20% of available funds at around 30-33k
Second buy will be 50% of available funds at around 20k (best ideal setup here with btc hitting bottom of falling wedge and a support and a fib level)
We will save some funds to go in INCASE BTC breaks 20k to hit previous highs at around 12k.
Third buy will be 30% of funds at around 12k
BTC is used just to judge the entire market's price, one does not necessarily have to buy BTC but any other solid coin when BTC hits these prices.
The US stock market seems to be in correction mode which will cause BTC to go down with it as the stock markets tank. If the SP500 continues to tank we will see BTC continuing its downtrend.
BTC is also due for a correction and is in a huge falling wedge pattern. Based on current analysis, BTC seems set to hit at least around 30k to find a support level.
But of course the ideal perfect setup would be around 20k where it touches the bottom of falling wedge and hits a major support (previous high) and also a fibonacci level. But this may or may not happen so regardless we must enter SOME at around 30k first.
First buy will be 20% of available funds at around 30-33k
Second buy will be 50% of available funds at around 20k (best ideal setup here with btc hitting bottom of falling wedge and a support and a fib level)
We will save some funds to go in INCASE BTC breaks 20k to hit previous highs at around 12k.
Third buy will be 30% of funds at around 12k
BTC is used just to judge the entire market's price, one does not necessarily have to buy BTC but any other solid coin when BTC hits these prices.