You are viewing a single comment's thread from:
RE: Bitcoin (BTC) Evening Update: Critical Support Juncture Approaches
Personally I do not see anything but bearishness. The week and day closed lower indicative of a further drop. A day close below 6812 should retest February's lows or more. The same view w/o change since near approach of 11,705. I still want to buy, but at a lower price.
Spread, spread, spread your buy inns and be patient. It's better to buy too late at the start of a bull market then to buy too early in a bearish one!
good advice - the problem is deciding how low to set buy orders !
Well the biggest potential downside to spreading your buy ins or "Dollar Cost Averaging" is that a bull market might never happen again lol. That is the obvious potential danger that people need to take into account, and not just put the blinders on and say Bitcoin will 100% go up over the long-term! It might, but it also very well might not ever go up again.
The 4 hour made a higher close. But it closed below 8,471.59 at 8,470.43. Usually this means its a rejection. Time will tell. A rejection doesn't mean it will not go higher a bit. Trends can change at any time. The close being below 8,471.59 leans to a drop imho.