#BTCUSD Possible Bottom and my Strategy EXPLAINED!!
Welcome to this Weekly analysis everyone. When BTC broke below the $29k level all the doors for a new low were opened.
Currently, most of the altcoins are down almost -70% to -95%.
As per the current PA, one thing is clear BTC surprised everyone by testing and even going below the previous ATH which never happened before.
Even BTC broke below the 200 Weekly Moving Average which happened to be the bottom of the previous cycle.
The corona Dump was an exception TBH, The price went -26% below the MA at that time but came back right up leaving a long wick.
What do these events tell us?
Well, It's clear that history doesn't repeat but it often rhymes.
In the last bull run, the price retraced -83.40% from its top $20k.
We are currently trading at -72.57% around $19k so the possible bottom would be somewhere around the $11.7k level which is -83.40 % from the $69k top.
I know this is a rough calculation but that would be a better price to buy BTC isn't it?
MY STRATEGY:-
My strategy is to buy BTC at every dip and DCA at lower levels. I didn't sell the top but my average exit price is somewhere around $41k. SO I AM UP 100% on my BTC count already. And buying more. Am currently 32% in BTC and 68% in USDT, NO ALTS.
CONCLUSION:- The current levels are a great opportunity to buy BTC at cheap prices. Unless BTC breaks and closes above the 200 Weekly MA which is currently $20500 there's is a possibility we will hit anywhere between $11,718 to $16,440.
If you want the best price to enter wait for BTC to either hit those lows or a weekly close above $20500.
Let me know what you think in the comment section.
DO hit the like button if you like my updates.
Disclaimer:- All the information given in this analysis is completely my own view and should not be taken as financial advice.
Thank you
#PEACE
Currently, most of the altcoins are down almost -70% to -95%.
As per the current PA, one thing is clear BTC surprised everyone by testing and even going below the previous ATH which never happened before.
Even BTC broke below the 200 Weekly Moving Average which happened to be the bottom of the previous cycle.
The corona Dump was an exception TBH, The price went -26% below the MA at that time but came back right up leaving a long wick.
What do these events tell us?
Well, It's clear that history doesn't repeat but it often rhymes.
In the last bull run, the price retraced -83.40% from its top $20k.
We are currently trading at -72.57% around $19k so the possible bottom would be somewhere around the $11.7k level which is -83.40 % from the $69k top.
I know this is a rough calculation but that would be a better price to buy BTC isn't it?
MY STRATEGY:-
My strategy is to buy BTC at every dip and DCA at lower levels. I didn't sell the top but my average exit price is somewhere around $41k. SO I AM UP 100% on my BTC count already. And buying more. Am currently 32% in BTC and 68% in USDT, NO ALTS.
CONCLUSION:- The current levels are a great opportunity to buy BTC at cheap prices. Unless BTC breaks and closes above the 200 Weekly MA which is currently $20500 there's is a possibility we will hit anywhere between $11,718 to $16,440.
If you want the best price to enter wait for BTC to either hit those lows or a weekly close above $20500.
Let me know what you think in the comment section.
DO hit the like button if you like my updates.
Disclaimer:- All the information given in this analysis is completely my own view and should not be taken as financial advice.
Thank you
#PEACE
Trade ativo:
#Bitcoin: Although there's a little resistance here, #BTC is likely to break to the upside. It just needs to get back above the $21.8k level to rally towards $28k.
So be cautious, Breakout will decide the trend.
#Bitcoin: Although there's a little resistance here, #BTC is likely to break to the upside. It just needs to get back above the $21.8k level to rally towards $28k.
So be cautious, Breakout will decide the trend.
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