I want to buy bitcoin but I'm waiting that it goes down a bit to enter position.
Do you think it will be below $ 8500 soon?
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I want to buy bitcoin but I'm waiting that it goes down a bit to enter position.
Do you think it will be below $ 8500 soon?
I personally feel a large part of the recent Bitcoin rally has been also fueled by the stock market recovery, and the markets are still somewhat correlated.
Currently, I do feel stocks are due for a correction, and it isnt making sense that they are still rallying without any actual solid reasons, and in spite of the unrest, economic slowdown and all stuff going on. I see something which people usually chart on the market as a "divergence" so they are still due for a correction unless of course, they break above. the previous all time highs. (which will greatly invalidate the bear case.)
my personal opinion would be to buy a small amount and just wait unless it breaks above the resistance, or unless it dips a bit more. (Not any financial advice, but just a suggestion )
Things to consider:
Hope it helps!
I'll be personally waiting with some cash to buy dips. Already sold some part around 9600-9700
Thanks for the detailed explanation 👍
Sure, no problem!
Consider our articles to be more like an Analysis about the markets rather than hardcore trade setups!
We have plans to post about trade setups as well in future! :)