Moment of Truth
We are about to reach the key support zone that I have mentioned. Will we see a rebound? Or is this crypto rally finally going to take a break?
I am also watching this support level for a potential rebound.
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Trade the trends via technical, fundamental, and macro analysis. Day Trades, swing trades, and long-term investments.
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digimonX : Thks for sharing. I have been researching bitcoin (& related ETFs) recently. Looking to buy & will hold for the longer term. Your info serves as a good guideline for me.
SpyderCallOP digimonX: I'm glad to hear. I think Bitcoin is a good long-term hold. But the volatility in the crypto sector can be unnerving. You must have a strong stomach if you plan on holding long term through all of the volatility.
digimonX SpyderCallOP: well, I have no issue holding 3 - 5 or even 10 years. This has been my strategy & style. I have been invested in AMD for 10 years now. Very happy with the gains overall.
Actually, I have been interested in crypto since 3 years ago but the hot vs cold wallets, transferring from exchange to hardware wallet, etc were a bit too challenging for me to grasp all at a relatively short period of time. Now that we have the spot ETFs, getting exposure is easy without these complexities.
digimonX : Just to add, AMD is as volatile as bitcoin. Just look at the recent price actions... lol
SpyderCallOP digimonX: AMD can be very volatile sometimes. That is why I like trading the ticker. Lots of delta to swing trade in both dorections.
Troll Hunter : where do you think we're heading if support doesn't hold? my BTC average is at $19650 and would like to not swing my average up that much. i haven't bought in a while as you can see. been loading up on alts (which have 2-4x'd). been waiting on a big drop on BTC.
SpyderCallOP Troll Hunter: I don't think it will drop all of the way down to 20,000. Not at all. If you are looking for a good area to buy the dip, then the next support level will be 53000 - 50000. And below that, the next support level would be 45000.
These are the nearest support levels. Since Cryptos are in such a strong rally right now, I would expect a rebound one of these levels if the price does decide to correct more.
If this rally is truly over, which I don't think it is, then I would wait for some of the longer-term technical levels to buy the dip. Around the 41000 - 40000 price points. Or the 31000 - 29000 area.
I should say that I think the halving will provide more upside. But a correction would be normal and healthy for the rally
Troll Hunter : awesome. thank you. i don't think the really is over either, but i also like to look at the blood on the walls, if you know what i mean. however, i think a price point of 45k would be a great time to average up. if support doesn't hold and we hit 45k I'll have to switch from alts back to BTC. otherwise, I'll go 50% btc, 25% eth, 25% alts until the halving. that battle plan doesn't net me big gains, but I'm no longer in the red and my crypto port is up an average of 225%. LRC and SHIB have made me some pretty good money this year. thank you for your response. the info is great.
digimonX SpyderCallOP: Again, more good info. I have allocated some $ to invest in bitcoin (or rather the IBIT ETF). Bought some yesterday (or today depending on your timezone) using your info as guideline & will continue to do so over the next 2 weeks. If it gets to $50k - $53k range or even lower, I will activate another set of funds to buy more.
Thks again! Pls keep sharing.
SpyderCallOP digimonX: I am always glad to provide a little insight.
