Well my friends, bitcoin is hanging on by a thread. We clocked a new intraday low for 2018, but did rally to close above the intraday lows of April.
In the new day we are not seeing much follow through after a one hour window that saw buyers bid the price up. The 5,500 area is the next downside price to keep an eye on if we cannot rally here. Otherwise we need to breach 6,700 as the first step in changing the negative price action.
Elsewhere, in this video I talk about what price we were at this time last year (hint: 2,500) and how people are super negative right now on price and how I found it ironic. Especially because many people just six months ago were like.."wish I'd of bought BTC at 7K"
Uhmmm...well, now you have a better price. ;-)
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Disclaimer: All info in this post is my opinion and for informational purposes only
Free e-book: ScaredyCatGuide to Knowing What the Heck Bitcoin Is
Disclaimer: All info in this post is my opinion and for informational purposes only
Even people that don't trade or usually do TA are now experts and 100% certain that bitcoin is going to these extremely low levels. lol The truth is that know body knows it could literally be the bottom right now and everyone is left in FIAT hahaha
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That's right. This why we need to be wary of who we take information/analysis from and also be aware of upside and downside price points. With that we can setup good risk/reward scenarios for ourselves.
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LMAO! Ain't that the truth....I'm falling asleep here!
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sleep well
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yes man bitcoin hang right now as my TA i think it come down more before it a shoot, whats your opinion?
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Yeah, as mentioned in the video the 5,500 area is my next downside target where I will purchase more. I added some around 5900 from a bid order I had sitting out there from a week ago.
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Many are there to tell buy the dip but hardly a few dare to buy it and have profits
Otherwise people are doing on contrary, selling at deep dip and buying at ATH
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Agree, I think we go lower before we go higher.
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You make some excellent points... If it goes back up, a little lower than where we are now is a pretty good buy point... But on this ride down, I thought a lot about how Bitcoin has been letting themselves be left in the dust...and I wonder if it really is a safe buy. I can see on the chart where it might be a good buy in...and I'm tempted....but it doesn't really feel like a safe bet. Even with all the shit on Steem with the bots and corruption, it feels like a safer bet.
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No arguments here...I actually said to myself, why'd I just buy more BTC. Even ETH is probably a better play and it technically has held up better price-wise.
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I'm gonna buy BTC...then sell it for something to transfer to Binance, sell that, and buy Steem. XD
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Absolutely, I agree with you, scaredycatguide! This is the time to buy! This is exactly the time I invested last year and it went to a hike! Thanks for the tip!
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How low can it go?
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