Youtube, Tradingview, Dailyfx... So many different forums to analyse charts in regards to what the next impending move for Bitcoin will be. Will it be up? Will it be down? Only two ways to move but a million different ways to dissect it. Well, I'm pretty much done with charts for the time being. I myself have spent so much time on this exact same subject, certain price patterns are almost burnt into memory! Still, the worst times should be behind us and the nightmare of 2018 has now been relegated to the past, where it belongs. This is my personal take on what to do next to safeguard yourself against most possible outcomes as well as keeping profits whilst doing so. This is not financial advi... Oh screw it, here's what I think from a chartless perspective!
Now, when we fell from the $20,000 levels last year, the major support zones were nowhere to be seen. Reason being they'd long been left behind due to the magnitude of the epic bull run. A major pullback was, in some ways, a formality. Fast forward to today and the situation has very much changed. We're caught up in a cluster of strong support zones, being tangled within the 50,100 and 200 moving averages on differing time frames. However, this post is to keep things simple and not getting into the "line" game. The way I see it, there is a critical dividing line between a bullish and bearish scenario. That being the infamous $6,000 mark.
Again simply put, should price cross above this level and remain above it, strap yourselves in coz we're going up and, most likely, FAST! However, below the $6,000 mark and the bears are still in control. That's the long and short of it, no pun intended. So, currently we find ourselves sitting at around $5,300. Very, VERY interesting price points to watch. From here, I do expect price to top out anywhere from here to the $6,000 mark before one more move down toward the $4,500 to $4,000 range. That will probably be your last chance to ever scoop up "cheap" BTC, compared to where we could potentially be going afterwards.
What you need to do depends on what you want out of it. Remember, the first thing to assume is that "nobody really knows where BTC is headed". Once we digest this crucial information, thinking clearly is a much easier process. If you feel you absolutely need to have more than you already have, then I'd suggest investing a little now, just in case the bulls come charging out of nowhere. But if price manages to get down to around $4,500 or even $4,000, thrown in a substantial chunk. Even if price goes lower from there, the eventual turnaround will more than compensate you for any additional waiting time you had to endure. These are, after all, very attractive levels to start buying in at.
But as I mentioned, once the $,6,000 level gets taken out, it's off to the races. On the next bull run, I fully expect the previous highs to be easily taken out. Some say this won't happen again, but I beg you not to listen to such pure BS. It will, and then some. And where will the next top be? Well, six-figure BTC looks like a good bet. And the last thing you want to do is start punching yourself in the head, wishing you could go back in time to buy up some more. It'll be too late then. So yeah, these are my humble opinions that I'm quite sure can provide some assistance to those looking to get in at "golden" prices.
After the next bull run in BTC, we'll be talking investment in terms of Satoshi's. Now wouldn't that be something?
