Using Bollinger bands with momentum on the 1 hour and 4 hour time frames for dollar cost averaging, it seems that Bitcoin is beginning to level out and stabilize in price action.
This could be the bottom of this downward trend we have seen since the middle of November of 2021, however, I believe caution needs to be used and careful planning. Based upon the market's recent events of unpredictability and unstable volatility, I believe dollar cost averaging is the best approach over the long term in dealing with this unusual market while protecting your investment.
Whether or not this trend continues, it really doesn't matter as this is a good middle range point to pick up a few more positions in it for either a nice little profit if the market does rise, or a stable accumulation point for a continued downtrend.
The only thing that is really clear at the moment, is that the market is at a pivotal point. Risk mitigation and budget management skills are a requirement as this really could go either way.
This could be the bottom of this downward trend we have seen since the middle of November of 2021, however, I believe caution needs to be used and careful planning. Based upon the market's recent events of unpredictability and unstable volatility, I believe dollar cost averaging is the best approach over the long term in dealing with this unusual market while protecting your investment.
Whether or not this trend continues, it really doesn't matter as this is a good middle range point to pick up a few more positions in it for either a nice little profit if the market does rise, or a stable accumulation point for a continued downtrend.
The only thing that is really clear at the moment, is that the market is at a pivotal point. Risk mitigation and budget management skills are a requirement as this really could go either way.