Reasons why Buying / Holding Bitcoin is Such a good idea
There a so many reasons, Technical and fundimental, as to why you shodl buy Bitcoin and Hold
Here are just a Few Technical reasons why Buying now and even just holding till the next high is a good idea.
On the main Chart, we can see that PA is in a Bullish Pennant. Apex date is around Mid September.
PA WILL react before this date- PA is also sitting Above he Long Term channel trend line and using as support.
So, PA, as it stands, is in a fairly good place, it should have support and the expectation is that should it drop, we will NEVER reach 40K again.
But lets see some more info that points towards strength.
https://www.tradingview.com/x/Mxbz1VOP/
The MACD and RSI
MACD is Still falling Bearish in a controlled Drop and if it continues it current Path ( Dashed line ) we reach Neutral at the same time as PA reachs the apex of the Pennant. September. ( Arrow ) Remember, PA will move before that point.
RSI is already down near Neutral and this will offer Support to PA while the MACD continues to Drop. There by stopping a Dive in price.
The Histogram is near its peak also possibly but we shall have to wait a little longer for confirmation.
So now for some OnChain data
https://www.tradingview.com/x/Rg7ZIO8o/
The Mayer Multiple ( blue line) and its MA ( Yellow) can be sued to judge when an asset is over or under priced. The Mayer Multiple is calculated by dividing the Bitcoin Price by the 200 day moving average of the price. When the Mayer Multiple Drops below its own Moving Average ( MA ) , as it has just done, we can see that the asset is becoming Under priced or OverSold.
Or, to look at it another way, The Selling pressure is reducing because the profits have already been taken and profits are reducing. This marks the beginning of a Good time to buy.. Buy Low, Sell High
Then we have the MVRV
https://www.tradingview.com/x/MkEwZ3eJ/
As you can see..This is also dropping.
The easiest way of explaining this is simply to say that the margin of profit is recducing. The Higher the lines, the higher the % of profit. As profit gets taken, this line Drops. The Vertical dashed lines forinstance, Show the previous ATH of Bitcoin. See how the MVRV Drops BEFOER the ATH. That is because the profit was taken and it was the later Buyers who kept the PA rising....
Currently, We are heading back into the Green zone. The waiting game starts.
Also not how, as we head to ATH, the Green line overtakes the yellow. This is the Z Score, a slightly different verion of the MVRV. IT has not yet overtaken the MVRV on this Run, even though we hit a new ATH - The Bull Run HAS NOT BEGUN
And Lastly, How we See th eprofits being take,
https://www.tradingview.com/x/4NCLmc6S/
SOPR shows us the Level of profit take, Actually Cashed out, by selling of the Coin.
And currently that valu is dropping. Profit has been taken, Buyers have bought more coins and are holding, waiting for the next push higher.
This all poonts towards us getting Near a Low, possible further Dips but people are getting ready for the Next move...And we should all be doing the same.
Profit has been taken - coins re-bought, Supply is still shrinking
BUY = HOLD and RELAX
This is just my pwn opinion and I 100% recommend you investigate yourselves.....
Here are just a Few Technical reasons why Buying now and even just holding till the next high is a good idea.
On the main Chart, we can see that PA is in a Bullish Pennant. Apex date is around Mid September.
PA WILL react before this date- PA is also sitting Above he Long Term channel trend line and using as support.
So, PA, as it stands, is in a fairly good place, it should have support and the expectation is that should it drop, we will NEVER reach 40K again.
But lets see some more info that points towards strength.
https://www.tradingview.com/x/Mxbz1VOP/
The MACD and RSI
MACD is Still falling Bearish in a controlled Drop and if it continues it current Path ( Dashed line ) we reach Neutral at the same time as PA reachs the apex of the Pennant. September. ( Arrow ) Remember, PA will move before that point.
RSI is already down near Neutral and this will offer Support to PA while the MACD continues to Drop. There by stopping a Dive in price.
The Histogram is near its peak also possibly but we shall have to wait a little longer for confirmation.
So now for some OnChain data
https://www.tradingview.com/x/Rg7ZIO8o/
The Mayer Multiple ( blue line) and its MA ( Yellow) can be sued to judge when an asset is over or under priced. The Mayer Multiple is calculated by dividing the Bitcoin Price by the 200 day moving average of the price. When the Mayer Multiple Drops below its own Moving Average ( MA ) , as it has just done, we can see that the asset is becoming Under priced or OverSold.
Or, to look at it another way, The Selling pressure is reducing because the profits have already been taken and profits are reducing. This marks the beginning of a Good time to buy.. Buy Low, Sell High
Then we have the MVRV
https://www.tradingview.com/x/MkEwZ3eJ/
As you can see..This is also dropping.
The easiest way of explaining this is simply to say that the margin of profit is recducing. The Higher the lines, the higher the % of profit. As profit gets taken, this line Drops. The Vertical dashed lines forinstance, Show the previous ATH of Bitcoin. See how the MVRV Drops BEFOER the ATH. That is because the profit was taken and it was the later Buyers who kept the PA rising....
Currently, We are heading back into the Green zone. The waiting game starts.
Also not how, as we head to ATH, the Green line overtakes the yellow. This is the Z Score, a slightly different verion of the MVRV. IT has not yet overtaken the MVRV on this Run, even though we hit a new ATH - The Bull Run HAS NOT BEGUN
And Lastly, How we See th eprofits being take,
https://www.tradingview.com/x/4NCLmc6S/
SOPR shows us the Level of profit take, Actually Cashed out, by selling of the Coin.
And currently that valu is dropping. Profit has been taken, Buyers have bought more coins and are holding, waiting for the next push higher.
This all poonts towards us getting Near a Low, possible further Dips but people are getting ready for the Next move...And we should all be doing the same.
Profit has been taken - coins re-bought, Supply is still shrinking
BUY = HOLD and RELAX
This is just my pwn opinion and I 100% recommend you investigate yourselves.....
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