When is the Best Time to Buy Bitcoin?
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Hey, I am back with another Technical Analysis, this time looking again at Bitcoin, as taking look at altcoins would make no sense in terms of being bullish as Bitcoin is currently bearish.
I am in Tether since my last Analysis on Bitcoin, where I said that Bitcoin wont hold long on 8500 Ressistance level and if doesnt hold at 8200-7800 level will fall even lower.
Lets quickly look at whats going on, the first demand zone 8200-7800 was broken which led to another breakdown as the ressitance was just way strong rejected by 50 day EMA.
Currently is Bitcoin headed to lower Demand zone 7200-6500, it could dip below this zone.
How can I determine When is the Best Time to Buy Bitcoin? Very simple by looking at history. I am using only one Indicator this time.
Lets just keep it simple, notice how anytime Bitcoin's RSI has dipped below 30 it has seen a pretty bounce each time.
Last words? Let Bitcoin fall, this steep decline is nothing new to this market.
Currently I am waiting for Bitcoin's RSI to dip below or touch 30 again, that would be optimal price for to get in.
So I think thats about it.. If you have any Questions feel free to ask me down bellow or at my Discord channel!
Hope I made your view on whats going on with Bitcoin somehow clearer.
If you like this Technical Analysis let me know in the comments, Likes are aprreciated, Thanks !
If I see something worth to share on the chart I will surely do an Update.
I am in Tether since my last Analysis on Bitcoin, where I said that Bitcoin wont hold long on 8500 Ressistance level and if doesnt hold at 8200-7800 level will fall even lower.
Lets quickly look at whats going on, the first demand zone 8200-7800 was broken which led to another breakdown as the ressitance was just way strong rejected by 50 day EMA.
Currently is Bitcoin headed to lower Demand zone 7200-6500, it could dip below this zone.
How can I determine When is the Best Time to Buy Bitcoin? Very simple by looking at history. I am using only one Indicator this time.
Lets just keep it simple, notice how anytime Bitcoin's RSI has dipped below 30 it has seen a pretty bounce each time.
Last words? Let Bitcoin fall, this steep decline is nothing new to this market.
Currently I am waiting for Bitcoin's RSI to dip below or touch 30 again, that would be optimal price for to get in.
So I think thats about it.. If you have any Questions feel free to ask me down bellow or at my Discord channel!
Hope I made your view on whats going on with Bitcoin somehow clearer.
If you like this Technical Analysis let me know in the comments, Likes are aprreciated, Thanks !
If I see something worth to share on the chart I will surely do an Update.
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I am paying close attention to next moves.Komen
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tradingview.com/x/SU86iplQ/Just as expectedKomen
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7400 is a strong level to break and keep above, but I believe Bitcoin can make it.
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