Who knows what tomorrow will bring! But Bitcoin went on sale the past few hours and has already bounce quite a bit!
Know Your Price Points!
In some of my past videos and on the music and money show crypto check segment I have talked about BTC and how it had support at the 15,250 level and if that did not hold we would likely see a test of the most recent uptrend line.
Scaredy Loves It When a Plan Comes Together!
BTC (and some other coins) took a dump in the hours leading up to this post and I sat attentive (instead of socializing with my family I am in New York visiting..oops).
When it cracked 15K and then 14k I was thinking no way. This mofo is gonna get to that 13k target!
Buy Buy Buy
Looking at the chart above you can see the lower wick pushes through the trendline slightly before bouncing. It hit my target so only one thing to do...
Pretty pissed coinbase banged me with a $58 commission, but it was my only option to use USD at the moment.
Looking Forward
Here's the thing - I always say just buying crypto anytime it falls 20% or more has been a winning strategy the past year. On a 35% drop I loaded up, but I will say this. I'm not 100% sure this is the bottom.
It could be the bottom and I hope it is for the sake of my trade. However, downside risk to 11.7k and even in a bloodshed, 10k are out there.
Let's hope it holds that recent trendline instead. Staying above 13k is key with the first upside level of $15,250.
Some things I use:
- Coinbase to buy Bitcoin, LTC, EHT or BCH
- Bitconnect to earn daily interest lending my bitcoin (using speculative funds)
Best Regards,
Disclaimer: All content in this post is my opinion and for educational purposes.