I wouldn't risk to buy now and sell around 8.7k $. It's too risky. I think we are going down.
Note: I've been wrong before so I might be wrong again but let's take a look at the facts:
1) Stock market is down again
2) US is supporting cryptocurrencies, regulations will come, so will institutional money
3) Tether is still not clarified
If institutional money is coming, what would they do? Tank the price before jumping in or buying direcltly an overpriced asset (yes BTC as of now is still no currency) according to weekly/monthly RSI? I'd assume the prior option. I'm 50% fiat right now. Will be entering 50% at 5.6k and another 50% at 4.9k. Some predict it will go lower. It might go lower, It's about your risk/reward feeling. This is my comfort zone. If I'm completely wrong, planning to jump back around 9.5k until 11k.
Good luck catching knives or hodling.
Note: I've been wrong before so I might be wrong again but let's take a look at the facts:
1) Stock market is down again
2) US is supporting cryptocurrencies, regulations will come, so will institutional money
3) Tether is still not clarified
If institutional money is coming, what would they do? Tank the price before jumping in or buying direcltly an overpriced asset (yes BTC as of now is still no currency) according to weekly/monthly RSI? I'd assume the prior option. I'm 50% fiat right now. Will be entering 50% at 5.6k and another 50% at 4.9k. Some predict it will go lower. It might go lower, It's about your risk/reward feeling. This is my comfort zone. If I'm completely wrong, planning to jump back around 9.5k until 11k.
Good luck catching knives or hodling.