BTC: Wanna DCA, but dunno when to buy? > Answer is the RSI.
For the average investor who has limited knowledge of TA, it's common knowledge that dollar cost averaging (DCA) is the best way to buy bitcoin.
When to buy?
Most will say: "It doesn't funking matter because looking back in *insert future date*, the current price of bitcoin will be considered so cheap and you would be crazy in the coconut not to buy right now." In reality, if you buy X amount of bitcoin and it then dumps hard, you will NOT feel a delightful sensation deep in your heart. Unless you are an emotionless bot. In that case stop reading my post, you freak bot!!
Seriously, when to buy?
I have attached the last bull run as an example, also see the current bull run attached below.
1. Wait for the RSI to become oversold on the Weekly chart (this is what I personally used as an end of bear market signal).
2. Wait for the RSI to go below 40 on the Daily chart .
3. Buy X amount of bitcoin every time it does #2 until the previous all time high has been reached.
4. Be happy that you are NOT a FOMO foolio and have DCAed at a (historically) smart time.
Note: Now, this way does require patience as the space between each buy could be anywhere between a week and a few months. This is my strategy and this is how I am adding to the stack, not investment advice to anyone, just something I found interesting and wanted to share. When investing, a plan is vital. If you don't have a plan, be prepared to let your silly emotions take the steering wheel and then before you know it, you'll be living in REKT City on REKT Street living in a REKT house. Have a nice day!
When to buy?
Most will say: "It doesn't funking matter because looking back in *insert future date*, the current price of bitcoin will be considered so cheap and you would be crazy in the coconut not to buy right now." In reality, if you buy X amount of bitcoin and it then dumps hard, you will NOT feel a delightful sensation deep in your heart. Unless you are an emotionless bot. In that case stop reading my post, you freak bot!!
Seriously, when to buy?
I have attached the last bull run as an example, also see the current bull run attached below.
1. Wait for the RSI to become oversold on the Weekly chart (this is what I personally used as an end of bear market signal).
2. Wait for the RSI to go below 40 on the Daily chart .
3. Buy X amount of bitcoin every time it does #2 until the previous all time high has been reached.
4. Be happy that you are NOT a FOMO foolio and have DCAed at a (historically) smart time.
Note: Now, this way does require patience as the space between each buy could be anywhere between a week and a few months. This is my strategy and this is how I am adding to the stack, not investment advice to anyone, just something I found interesting and wanted to share. When investing, a plan is vital. If you don't have a plan, be prepared to let your silly emotions take the steering wheel and then before you know it, you'll be living in REKT City on REKT Street living in a REKT house. Have a nice day!
Nota
Current bitcoin bull run on the Daily chart. There have only been two buying opportunities so far, but fear not, there will be many more ahead.Nota
Dammit. 2nd half of title should read:Answer is in the RSI.
Nota
Bitcoin bought @$9,169
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As informações e publicações não devem ser e não constituem conselhos ou recomendações financeiras, de investimento, de negociação ou de qualquer outro tipo, fornecidas ou endossadas pela TradingView. Leia mais em Termos de uso.
Aviso legal
As informações e publicações não devem ser e não constituem conselhos ou recomendações financeiras, de investimento, de negociação ou de qualquer outro tipo, fornecidas ou endossadas pela TradingView. Leia mais em Termos de uso.