So You've Missed The Chance To Buy Cheap Bitcoin Again, Huh?

There's a saying that the ideal time for buying Bitcoin longterm (meaning not for everyday speculation) is every day. True, if you've spent your precious fiat somewhere near the historical top, waiting time for a break-even can prolong even for a few years. Cheer up to all who bought in the frenzy two and half year ago above $800 and still holding...

That's why it's important to use some strategy or at least a few basic rules when buying. They don't have to be complicated necessarily. Simply said, it is good enough not to buy at the top and sell at the bottom. Now if only one knew at a given moment whether it is the top or bottom, right?:)

Moving average (MA) is a favorite trading indicator for many traders and investors. We can notice usually a bull market if the price sits above the line, vice versa if below. The most frequently used MA for long term speculators are 50, 100 and 200 period.

When you look at the weekly chart with EMA 50, you can spot some common and repeated price behavior near or at the blue line. Yes, the price usually jumps-off of the line. So all you have to do is set your buying order at or near the line and wait.

Of course the price can happen to break down the line. In that case you should close the position in a loss and maybe open a short (sell BTC). It depends on your strategy. There are also speculators who are happy to see the price below the line because they can buy some additional cheap BTC. But they trade with no or minimum leverage.

So what does the chart (https://www.tradingview.com/x/bkm47pVs/) say right now? The unique opportunity for buying some BTC presented itself last week while the Bitfinex customers blood was gushing through the streets. The price hit the blue line after nine months again, and you could have seen the reaction. Don't say you've missed buying cheap BTC again because of another exchange hack:)

You can find more trading signals and price analysis on http://bitcoinpit.net