Bearish, but taking a small long position
I am generally short term bearish on
BTCUSD
but consider the coming days a great opportunity for dollar cost averaging if you believe the overall trend long term is growth in the coin.
I do recall last year being absolutely blown away by the $6000 price tag of
BTCUSD
but at this point it seems like an absolute steal. It's like buying
AMZN
when it was $100.
I'll be taking another position around the 7900 and 7500 price points and then waiting a few days for the market to shake out. I'm still anticipating a short term bearish move so better prices could rear their heads, but I liken betting on BTC similar to betting on the S&P - in the long run it always recovers even if sometimes it takes years.
If your goal is Account Building, Swing Trading and Day Trading then stay out, I'm sure there are better opportunities in other coins or just waiting for this to drop more.
BTCUSD
but consider the coming days a great opportunity for dollar cost averaging if you believe the overall trend long term is growth in the coin. I do recall last year being absolutely blown away by the $6000 price tag of
BTCUSD
but at this point it seems like an absolute steal. It's like buying
AMZN
when it was $100. I'll be taking another position around the 7900 and 7500 price points and then waiting a few days for the market to shake out. I'm still anticipating a short term bearish move so better prices could rear their heads, but I liken betting on BTC similar to betting on the S&P - in the long run it always recovers even if sometimes it takes years.
If your goal is Account Building, Swing Trading and Day Trading then stay out, I'm sure there are better opportunities in other coins or just waiting for this to drop more.
Komen:
Oh yeah, if it bounces off that downward trend line - it sure seems like a bullish posture to me.
Komen:
F'ing Nailed it. Let's see if we bounce off that support trend line or even go all the way down to it.