And the most interesting confluence goes to! BTCUSD
The 3.618 measured from $0 to the 2013 ATH & The 0.786 measured from $0 to the 2017 ATH
$5 difference.... Interesting, right?
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The big question on all our minds, where is the bottom? Unfortunately there is no correct answer. The market makers will force sell offs until they can't force any more. Then, and only then, will price reverse.
We speculators will do our jobs regardless, we will speculate, we will trade the trend and make a living off the micro (or not so micro) movements.
Note: The current long term support is the weekly 50 moving average. Open and close a weekly candle under that and I expect we see the 0.786 / 90 moving average.
The real question you should be asking yourself is;
Do I believe in bitcoin long term? If the answer is yes, then now is the time to start Dollar Cost Averaging down.
Why wait for the bottom and average up? That makes no sense right, and what if the bottom is already in and you missed it?
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I am bullish long term. In case you hadn't noticed. "Target sir?" $32K by 2020, conservatively.
P.S I changed the background of my chart to reduce strain, I must be getting old.
$5 difference.... Interesting, right?
--
The big question on all our minds, where is the bottom? Unfortunately there is no correct answer. The market makers will force sell offs until they can't force any more. Then, and only then, will price reverse.
We speculators will do our jobs regardless, we will speculate, we will trade the trend and make a living off the micro (or not so micro) movements.
Note: The current long term support is the weekly 50 moving average. Open and close a weekly candle under that and I expect we see the 0.786 / 90 moving average.
The real question you should be asking yourself is;
Do I believe in bitcoin long term? If the answer is yes, then now is the time to start Dollar Cost Averaging down.
Why wait for the bottom and average up? That makes no sense right, and what if the bottom is already in and you missed it?
--
I am bullish long term. In case you hadn't noticed. "Target sir?" $32K by 2020, conservatively.
P.S I changed the background of my chart to reduce strain, I must be getting old.
1W log scale update
Watching the orange 50 moving average
As I have been pointing out for a number of weeks I am Dollar Cost Averaging into my long position (As I believe in the longevity of bitcoin)
I don't care which way it goes whilst I DCA, as I am building an average buy in price over time.