Bitcoin is in Step Cycle | Good opportunity for buying more!

[so98nn]

I am not sure how many of you do your trade analysis and then decide to buy. Recently I have started to look for some indicators which can give me an idea whether to jump in or not.

Well, I have always bought bitcoin whether it is at ATH or whether it’s devaluated.

Technical analysis gives more clear indication whether to invest and if yes then at what extent!!

Just check three days average down below and you can step cycle has started for the bitcoin era. With each step bitcoin will gain another level of ATH price. Current ladder is perfect to enter into market and make your mega move.

Note: The graph is in BTC/INR price. However, ratio remains the same.

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Thanks @logfiles

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[Kittygalore]

I can see the patterns but I don't think that it is showing the big picture, this might not be the golden opportunity because the dip might be at its premature stages, I would suggest to wait for awhile because I believe that bitcoin won't be going up for a while now because I think that it is still trying to pull itself back more so it can launch itself higher than ever.

[shield132]

Halving happened in 2016, yeah? And price started to rise and surpassed once upon a time all-high $1000 but that was nothing compared to what happened after one year. In December 2017, price went up to 20K, so if we consider what happened in the last halving and also see the chart (I mean the history of bitcoin's price), then I agree with you, this can be a good opportunity to buy more but price is really so high, I don't really think that it will rise so enormously but when it comes to bitcoin, you have to imagine unimaginable and believe in unbelievable, so, idk. I would stay away from suggesting someone to buy bitcoin right now because a lot of people lost homes when they bought in 2017 but personally, I would still risk and hold only the amount that I ain't going to use/touch.

[logfiles]

It all looks good until a trend reversal starts   We could be in for another week of dips
I would look at the previous resistance level and then set up a stop loss below it just in case things go South

Just a tip on how to post images OP. you can reduce the size of the image by adding the width or height length like this

Code:

[img height=400]https://i.ibb.co/M1qr0jd/F57-A2-FFB-AD91-4-A9-A-A159-C6-C86952-A034.jpg[/img]

Reduces it to this

Posting very huge images makes the post less interesting to read.

[cheezcarls]

It all looks good until a trend reversal starts   We could be in for another week of dips
I would look at the previous resistance level and then set up a stop loss below it just in case things go South

Just a tip on how to post images OP. you can reduce the size of the image by adding the width or height length like this

Code:

[img height=400]https://i.ibb.co/M1qr0jd/F57-A2-FFB-AD91-4-A9-A-A159-C6-C86952-A034.jpg[/img]

Reduces it to this

Posting very huge images makes the post less interesting to read.

If these dips would continue this week or in a few weeks, that would mean a great buying opportunity for me and the rest who wished to buy at cheaper prices back then. As we’re experiencing a trend reversal, buyers would be very happy to acquire them at very low prices. Think of it as a discount sale for Bitcoin and other cryptocurrencies. If I had converted my USDT to BTC last December and hold it until it reached an all-time high of $58k, I could be very happy. But now this is another opportunity to buy the dip.

[crwth]

I have seen a video that recently, the current percent that Bitcoin dropped (~20%) is healthy. It's just like what happened before in the previous ATH but even more but it's a healthy correction for sure. I think this would be a great opportunity, just like what you have mentioned.

It's basically better to buy what you are confident to invest to make sure that you are not going to be regretting your decision.

[palle11]

With the chart above , I do not expect that this is deep happening and checking on current price of bitcoin still @ $44,692 is not looking good as a deep to fly in. The monthly ending too will determine using the candle analysis. So it is still not time to predict we are already on a deep.

[Julien_Olynpic]

I also believe that bitcoin will not fall in the long run. But he can still add some gray hair to us. It may be forming an inverted head and shoulders price pattern. Perhaps we are only at the initial period of the formation of this figure. If so, then we are in for reacumulation. But you always need to consider alternatives. This scenario will be canceled if the price falls below 40,000. I think so.

[blockman]

Very different this time. I still a lot of people comparing bitcoin's ATH in 2017 and this early of January. Many still can't believe that it has grown a lot and missed buying it.

With the chart above , I do not expect that this is deep happening and checking on current price of bitcoin still @ $44,692 is not looking good as a deep to fly in. The monthly ending too will determine using the candle analysis. So it is still not time to predict we are already on a deep.

How is it that it's not looking good? $44000 seems to be high for me already.

[goaldigger]

This is why we need to learn how to analyze the market price so we can know when to buy and sell. BTC moves on a sideways trend but mostly on a down trend, but if you do see some head and shoulder trend then you can easily play in the market by doing short. I’m buying but not that big, maybe I can still see a lot more cheaper bitcoin again, in time.

[2double0]

Op, you are right and btc looks to be in accumulation phase right now which is a good buying opportunity for us. Though, I still think that btc can retrace a bit up and then we are yet to see a dip before it starts to go high. $46500 is the area I am looking for, and then $37000 where I will possibly buy some coins and hold for new ATH. It is surprising that btc didn't range since it reached its ATH at $58000.

[cyriljundos]

as expected bitcoin price may slowly go down but it will be soon to pump in no time. i can see also the graphs it quite analytical and it depends on investor or whales  on when it rise and how many percentage is bitcoin price will be pumping. yes your analyze in graphs are possible and hopefully will happen.

[davis196]

The graph shows a pattern that might not repeat.I don't trust technical analysis that much.
The current Bitcoin price drop was pretty much expected and I'm surprised that there are forum members,who are surprised,overwhelmed or sad,because to this price drop.Did you guys really expect that BTC will go to 100K,only because Ellon MusK/Tesla buys some BTC?We need way more institutional investors and way more medium sized and small investors for a big and stable price pump.
We are going back to 20-30K USD,before going to 60K USD.Just HODL more BTC and everything will be fine.
 

[maxreish]

From new ATH reached $50k above then down to $45k as of now. We are still experiencing some downtrends and some traders tends to make a short entries. And of course thats a chance and opportunity to buy bitcoin.
 
 But I am expecting for another correction testing the $40k below. If that happens, that's a good time to buy.

[Fesatmas]

for a bitcoin pattern like this, take a position immediately and don't let you forget its growth. It's been corrected enough, so this pattern is relatively bullish, the corrections and bullish go hand in hand. simple cleaning and moisture resistance continues to increase. depending on the timeframe available when it is bullish. but no doubt this pattern has a Bullish tendency : Correction ( 70% : 30% )

[Ziskinberg]

Many were wishing that fall, though. But just to wonder how it recovers back shortly after a few price corrections.
For more than a decade of Bitcoin's existence, there is nothing change, it is still unpredictable and we can't simply think that once red charts shows, we gonna expect a huge dump but it was not like that.  

It guarantees less to see such huge correction coz if we check the support level, you can't simply imagine that it remains at a high level. No, investors are still buying more bitcoin which uplifts the price too easily.

[jostorres]

Many were wishing that fall, though. But just to wonder how it recovers back shortly after a few price corrections.
For more than a decade of Bitcoin's existence, there is nothing change, it is still unpredictable and we can't simply think that once red charts shows, we gonna expect a huge dump but it was not like that.  

It guarantees less to see such huge correction coz if we check the support level, you can't simply imagine that it remains at a high level. No, investors are still buying more bitcoin which uplifts the price too easily.

I have seen bitcoin to drop and increase after and after again so some people know what they feel like whenever it falls because it is not going to be anything at all. We do not care at all, why should we care that the price falls each and every time? Because, people who know that it will go up again know that if you buy from these falls, they can make a lot more money later on.

The greater thing is that altcoins make even a bigger jump as well, they look fine like bitcoin but the reality is that we end up increasing a ton lot in those small altcoins, when bitcoin makes 2x, some other alts make 10x increase instead, and that is what makes us feel awesome as well, because we know these coins we invest into make a huge profit when the time is right. This is why these problems are not really big deal for us, we know that we could make a profit anyway.

[harizen]

If that's works for you then just continue.

After all, that's the purpose of using indicators, to give us an idea to form our next strategy.

Better than doing a random guess or speculation (but no doubt it's effective at some case lol) especially for newbies who are having trouble when to buy and sell.

[so98nn]

If that's works for you then just continue.

After all, that's the purpose of using indicators, to give us an idea to form our next strategy.

Better than doing a random guess or speculation (but no doubt it's effective at some case lol) especially for newbies who are having trouble when to buy and sell.

Thanks man. I did follow my own analysis and it worked. The step cycle actually repeated itself and look where the bitcoin has got itself today along with my investment. 

I did have fomo initially but tried hard to jump in and also kept my initial investment as it is. So the math is pretty simple here, I was easily able to book the profit in this so called step cycle analysis.

Next, I believe it will break out from this but will continue to up surge until it reaches 65k Barrier.

[STT]

Good to see someone post a channel graph speculating on such a large rise over weeks.   I dont have INR on my currencies list as maybe its a more recent exchange price but it can be useful to look at more then dollars for sure.   Does Bombay and its main market hours have much influence on the price INR quote do you think.   Japan opening is a large influence in the first hours of Monday seems like.
   I cant draw anything this neat as a trend from December, its slowing down so the rate even on the lowest prices has altered