When is the Best Time to Buy Bitcoin?
Updated
Hey, I am back with another Technical Analysis, this time looking again at Bitcoin, as taking look at altcoins would make no sense in terms of being bullish as Bitcoin is currently bearish.
I am in Tether since my last Analysis on Bitcoin, where I said that Bitcoin wont hold long on 8500 Ressistance level and if doesnt hold at 8200-7800 level will fall even lower.
Lets quickly look at whats going on, the first demand zone 8200-7800 was broken which led to another breakdown as the ressitance was just way strong rejected by 50 day EMA.
Currently is Bitcoin headed to lower Demand zone 7200-6500, it could dip below this zone.
How can I determine When is the Best Time to Buy Bitcoin? Very simple by looking at history. I am using only one Indicator this time.
Lets just keep it simple, notice how anytime Bitcoin's RSI has dipped below 30 it has seen a pretty bounce each time.
Last words? Let Bitcoin fall, this steep decline is nothing new to this market.
Currently I am waiting for Bitcoin's RSI to dip below or touch 30 again, that would be optimal price for to get in.
So I think thats about it.. If you have any Questions feel free to ask me down bellow or at my Discord channel!
Hope I made your view on whats going on with Bitcoin somehow clearer.
If you like this Technical Analysis let me know in the comments, Likes are aprreciated, Thanks !
If I see something worth to share on the chart I will surely do an Update.
I am in Tether since my last Analysis on Bitcoin, where I said that Bitcoin wont hold long on 8500 Ressistance level and if doesnt hold at 8200-7800 level will fall even lower.
Lets quickly look at whats going on, the first demand zone 8200-7800 was broken which led to another breakdown as the ressitance was just way strong rejected by 50 day EMA.
Currently is Bitcoin headed to lower Demand zone 7200-6500, it could dip below this zone.
How can I determine When is the Best Time to Buy Bitcoin? Very simple by looking at history. I am using only one Indicator this time.
Lets just keep it simple, notice how anytime Bitcoin's RSI has dipped below 30 it has seen a pretty bounce each time.
Last words? Let Bitcoin fall, this steep decline is nothing new to this market.
Currently I am waiting for Bitcoin's RSI to dip below or touch 30 again, that would be optimal price for to get in.
So I think thats about it.. If you have any Questions feel free to ask me down bellow or at my Discord channel!
Hope I made your view on whats going on with Bitcoin somehow clearer.
If you like this Technical Analysis let me know in the comments, Likes are aprreciated, Thanks !
If I see something worth to share on the chart I will surely do an Update.
Note
Note
Note
Note
Note
I am paying close attention to next moves.Note
Note
Note
Note
tradingview.com/x/SU86iplQ/Just as expectedNote
Note
7400 is a strong level to break and keep above, but I believe Bitcoin can make it.
Related publications
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.