Bitcoin is likely setting up to create the best buying opportunity you are going to see for a long time
Bitcoin tanked all the way down to $3,800.
You missed that one right?
Most did.
We have bounced nicely since then, getting all the way up near $7k.
However, since that time we are bleeding lower and probably have more room to fall...
(Source:
)https://twitter.com/bitcoinagile/status/1241774820750233601
- bitcoinagile
Your best buying opportunity for the foreseeable future is coming up...
As bitcoin slides lower it is likely setting up for a double bottom.
Often when prices reverse off lows they create what is know as a double bottom.
No, that's not a extra large butt, it's a technical trading pattern where prices hit a lot, bounce, pullback right near that low again and then move higher from here.
It often doesn't get all the way back down to those lows but instead starts moving up before it gets all the way there.
In this case, that may be around the $5k level.
It's a strong psychological level as well.
Buy the dip!
For those reasons mentioned above I think we are going to see bitcoin continue to drift slowly lower over the coming week, but I think you want to be buying this dip.
The halving is now less than 2 months away and we are going to get through the coronavirus fears in the near future.
Buy the dip.
*This is not financial advice, but instead just the opinion of a dude on the internet
Stay informed my friends.
-Doc