Hi guys, quick update on Bitcoin (BTC) here.
Any of the black fib lines could be support for BTC during the current fall. Any of them, really...
38.20% corrections are common, that's what we saw in the previous BTC fall few days ago. But this time Bitcoin has gone way too far, way too quick, so I think a 50% correction would be perfectly normal.
You can see the percentages on the left of the Fib lines, and also the price of Bitcoin next to the percentages.
What are you going to do with this info? Are you buying more at the lows? Just holding what you have? Staying away from the market? What's the plan? I'd love to know in the comments xx
I jumped off at 4050 and I'm very happy with that. There are always scenarios where I could have made more, but lots of instances where I could have lost more too. I guess I'm going to wait and see what happens from here and if the market returns quickly and rises above say 4100 and looks bullish, I'll consider jumping in again. Looking at the chart without fear or emotion says that it is correcting back into the upward channel, and the rsi is indicating a reversal (back upwards) is not far away. As long as the candles can stay above the moving averages on the 4h chart things should be ok. Otherwise, (if market vertigo takes over) I'll probably sit things out for a while and see how low things go. If/when I buy in low, I reckon I'll have a bit of time to make the call based on how the trends look given that when we do finally crash, we should see quite some time near the bottom.
Edit (14/8 06.00 UTC): I decided to get back in at 3990. To me things look ok to go up some more at the moment...
I owe it all to dobe
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Very valuable insights. For me, I'm not buying at this point.
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haejin has really good analysis and is also predicting potential drop tp $2000 mark ! Think you guys are correct !
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Bailed out at 4080. I will reevaluate later. The start of the week may give a better picture.
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Right now I am staying out and keeping fiat money. I plan to buy bitcoin again when the price will be between 1800-2300 euros.
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IDK, bitcoin scares me so I'm in other cyrpto
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