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Title: I'm bullish until 29k (but we probably won't get near there - 40k is very strong Post by: jackg on May 17, 2021, 12:15:52 PM It is unlikely we go that far but, just know if you sell now you might not want to buy back until the big drop (if one comes) at the end of the cycle.
There's potential this drop was artificially implemented (by retail/TA fear) to ensure a more secure run off. Many speculators I've seen are implying the current sell off will move us into oversold conditions (meaning it'll encourage more people to invest if they invest from the RSI - which institutions might be tracking for a buy). My 29k figure comes from coinbase data on the last bull market and would put us in September 2017 (I'm using monthly closes instead of wicks). (not financial advice but intended as a bit of comfort for anyone worrying and constantly trading crypto - if your strategy doesn't work well with volatility go for walk, buy a game or find aTV show you're yet to watch). Title: Re: I'm bullish until 29k (but we probably won't get near there - 40k is very strong Post by: tranthidung on May 17, 2021, 01:24:06 PM I revealed my thoughts that price from $40,000 to $46,000 is very interesting to buy up the dip for short term trading. I said it there (https://bitcointalk.org/index.php?topic=5305389.msg56851239#msg56851239)
If deeper falls appear, I think it can be around $36,000 and Bitcoin will still be very bullish around $36,000. I am keen on the possibility for price from $36,000 to $40,000 and after that will be side ways. Before the next bull run, Bitcoin might have a massacre (next few months) from $29,000 to $33,000 and Moon onwards we go. For lower price around $40,000 to $36,000, you have to wait for the market. If price falls to $36,000, it would be ~ 30% correction. It don't must happen but if it happens, you should feel very happy with it. It is the last call for you to buy cheap bitcoin. |