BTC looks to be in a confirmed weekly downtrend. If we close our heiken ashi candle below the 135d MA, this will be the first time this MA was breached since last March when BTC dropped into the 4000s.
I think this means more down side in the short term. However, I have a bullish long term time horizon in mind(3 years+), so I plan to accumulate on a fixed dollar amount, as long as we are under the 80-day, 2 standard deviation Bollinger band.
This level is around $46750, but will go lower as volatility increases. I got these levels through backtesting several different Bollinger band settings. This one proved to be the best for marking long-term buying opportunities in BTC.
I think this means more down side in the short term. However, I have a bullish long term time horizon in mind(3 years+), so I plan to accumulate on a fixed dollar amount, as long as we are under the 80-day, 2 standard deviation Bollinger band.
This level is around $46750, but will go lower as volatility increases. I got these levels through backtesting several different Bollinger band settings. This one proved to be the best for marking long-term buying opportunities in BTC.