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At the very beginning of 2013, I started investing in Bitcoin . My approach to accumulation is Dollar Cost Averaging ( DCA ). I am a very big believer in the mental aspect of accumulation. This means that if I am utilizing DCA because I am extremely long on Bitcoin , I would like to DCA when the price is down - at least for the short term. It is the essence of "Buy The Dip". It does create great trading potential, however, I do not Buy The Dip because I want to trade.
There are 5 things that I use in technical analysis in finding the best possible area to accumulate in the short term. They are:
For the purpose of transparency, throughout the year I did not think that BTC would break below $5k. This is also why I mentioned on videos throughout the year that $3,500 - $5,500 area is an extremely great price to accumulate in my opinion.
The purpose of explaining all of this is because it is the foundation of what you see on the screen.
Long term there are some more things that play into the movement of Bitcoin:
Bitcoin thus far has followed a pattern of 3 Events:
Each cycle is highlighted on the chart. Both past and SPECULATIVE present. You will see a steady decrease in % gains in each cycle. This is normal.
Important to note: You will also see the key area of .786 on the Fibonacci retracement (red lines) plays a crucial role in defining the bottom range.
None of this takes into account the synergistic position and momentum within the weekly RSI
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BTC- 17iN9xNLU4EFvBVCbuB9cz425EL8tuZnJb ETH- 0xFC18Dc7Cf9f1340C7d2Aa6771176C6580aBc2651
What happened so that you believe there will be a change in Bitcoin
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Great post this is the second chart I’m seeing with the same trajectory. I believe were in accumulation period right now with a market reversal coming soon after the longest bear market in bitcoin’s history. Im BTC long too definitely but I would look to take allot of profits around the 75,000 levels and sell it all once market reversal is confirmed and wait to buy back in again. I hodled through the last bull market all the way till now. I learned my lesson. I was completely new thought we were going to a million without understanding markets then. Ive learned allot since then. I followed and upvoted you. I liked your post. 👍
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You just received a 100% upvote from @rewards-pool. Thank You for being apart of the @rewards-pool community
Is the market going to crash because that's all I'm hearing??
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You got a 98.75% upvote from @minnowvotes courtesy of @the.success.club!
Thank you for your post @the.success.club. is this time is suitable time to buy bitcoin for invest? or falling more bitcoin price?
Really Adore the work you are doing with the posts for the community over here.
Also Bitcoin's Techtonic shift from the highs of $15000+ to Sub $5000 levels are more of a vested interest in trading such a high currency any way.
Binance showed a sudden drop of almost around 60% in the trader when the BTC rose to $15K - $20K.
Its also a matter of supply and demand! More supply lesser the demand!
I've followed you and would be really happy if you can guide me here. I've tried to give my 2 cents advice to the community wrt. Bitcoin Technical Analysis => https://d.tube/#!/v/exoticinvestment/grjkgak1
Could you please have a look at the video and give me feedback and how I can improve my work and help the community here?
Great article! It's important for newcomers to know, that Bitcoin runs through these cycles over and over. If you got in at the worst possible time in one cycle, and got out at the worst possible moment in the next cycle, you still would be in profit significantly
This chart is our road map for the next 10 years. Just love it. Thanks for sharing! @the.success.club