As a cryptocurrency investor, one of the most frequently asked question is "(when) Should I buy bitcoin?". For me, the answer is always YES and NOW. However, for a deep understanding and analysis of the market, we should strive to find a better entry point with the information provided by the market. After a long and suffering price dropping accompanied with so much news from ROK since the late December, I think the dawn of BTC, AKA the king of all coins, is coming.
The major tool I use here is volume-price analysis, which I believe plays a critical role in all the cryptocurrencies. The indicator Price/OBV divergence is the most important (thanks, traileriana) because it tells whether the price movement is supported by OBV momentum, both rising and dropping. And it is not difficult to find that the reversal is getting ready slowly and quietly. DMI also cooperates our prediction. All these signals should be taken very very seriously.
From the perspective of chart pattern, this triangle may as well carry on, but the end of it is coming our way. As we all know, triangle is just the former trend taking a break and there is only one possible direction after this correction.
It could not be denied that there are still plenty of indicators not taken into consideration in this idea, but here I am presenting a relatively longer perspective. For those who wants to add BTC into their long-term holdings, NOW is one of the best entering points.
The major tool I use here is volume-price analysis, which I believe plays a critical role in all the cryptocurrencies. The indicator Price/OBV divergence is the most important (thanks, traileriana) because it tells whether the price movement is supported by OBV momentum, both rising and dropping. And it is not difficult to find that the reversal is getting ready slowly and quietly. DMI also cooperates our prediction. All these signals should be taken very very seriously.
From the perspective of chart pattern, this triangle may as well carry on, but the end of it is coming our way. As we all know, triangle is just the former trend taking a break and there is only one possible direction after this correction.
It could not be denied that there are still plenty of indicators not taken into consideration in this idea, but here I am presenting a relatively longer perspective. For those who wants to add BTC into their long-term holdings, NOW is one of the best entering points.