Buying Bitcoin Here - Hope I Don&#x27;t Get Rekt

zettt (42) · 5 years ago

I think this was a perfect buying opportunity. The overall community consensus was so overly bearish that there just seemed to be too much "blood on the streets" -- and we all know how that saying goes. What I've been having my eyes on too was the RSI on the 4h. It only had a reading of around 13.5-ish twice this year… go figure when. 😉

nithishfloopz (50) · 5 years ago

Wish I had cash to add some bitcoin

stackin (78) · 5 years ago (edited)

We will see a nice bounce here on BTC, I wouldn't mind seeing Bitcoin at 5k... I like to buy on the cheap but we may not get the chance :) HODL Life LOL

2 votes

louisthomas (75) · 5 years ago

I don't wanna see Bitcoin any lower than 6k tbh 😬 Everything above that is fine by me!

$0.00

marki99 (54) · 5 years ago

Dollar cost average is the way to go. I know you said in one of your previous videos that if Bitcoin breaks 3000 or something you will reconsider your plans. However I still feel that you should keep going even in that scenario.

Decide what amount you're prepared to invest, divide it by 52, and buy each week with that amount. Don't greed. Don't look at 5000 dollar bitcoin and say wow that's cheap.

2 votes

louisthomas (75) · 5 years ago

Well said, very reasonable strategy!

$0.00

ziternium (35) · 5 years ago

I shorted some of my btc, while I'm holding a large margin still. I expected us to see a bigger downfall if the 6.9k was breached for extended period however it had bump back up. Which was a signal for me to long again (thanks to the resistance).

safetony (47) · 5 years ago

I think it may not be over either for the drop but I still feel like it's a good price, as like you said the vicious selling has already happened... might get a further blood bath but then that's just another buying opportunity.

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elianaelisma (72) · 5 years ago

Your actions are very precise Louis. Buy at a low price and sell at a high price. That is in accordance with economic principles.

$0.04