5D·

BTC - Bullish without bottom?

Now that $BTC (+3,79%) and altcoins have been bullish about the conflict in the Middle East and are now showing a breakout from the downtrend, one should zoom out and visualize the structure of the trend.

LILA - The price is still in a falling trend channel

YELLOW - Continuation pattern (bearish wedge)

WHITE - The most recent price movement suggests a fake-out like in mid-January

GREEN - The first bottom was formed at $60K

RED - A crucial area that could provide support and will be reached before the end of the downtrend

Projection

A V-shaped recovery, which is currently being hinted at, is extremely rare to see at the end of a bear market.

It is likely that the $60K mark will be broken and the bottom will be found in the $50K area - this would correspond to a classic 5-stage downtrend.

However, if another continuation pattern becomes visible in this area, it would go to the $38K area...

What is your strategy? Buy the dip, blunt savings plan or wait for a bottom?

27 Comentários

David@Redfox77

Thank you! I have also seen this in other analyses. I buy monthly via a savings plan on the one hand, and larger tranches on the way down on the other. Next tranche at 60k USD, then 50k... As my buy-in is currently at 73k EUR, I can only win ;-)

•

Chris@Multibagger

I stay away from crypto. 😉

•

David@Redfox77

@Multibagger For what reason?

•

Chris@Multibagger

@Redfox77 I don't invest in things that I don't understand and don't have the time to delve into. For me, Bitcoin is an asset with no intrinsic value. But everyone can see that differently. I have the same attitude to crypto as others have to derivatives 😉.

•

David@Redfox77

@Multibagger I can understand that. That's why I left other cryptocurrencies completely after a short time (a little ETH is still floating around in my portfolio). I like to regularly look at analyses of BTC, which makes the price trend easier to understand. On the other hand, I can't really relate to derivatives yet, although I really try 😉

•

BeachPlease@BeachPlease

@Multibagger Perhaps this will help you: in general, crypto is a bet against fiat currencies, a protection against state surveillance of financial transactions - as with cash, but that is what you would like to abolish - and a decentralized way to trade (peer-to-peer).
In addition, BTC is non-inflationary, as the mining algorithm is mathematically designed in such a way that the number of coins approaches a limit value, but never reaches it - keyword infinitesimal calculation.
Technically, BTC, ETH or XRP, for example, behave like specialized network protocols/layers that are not yet combined in a stack, i.e. are currently running side by side - this is called Layer 1.
In layer 2, a stack/frame is formed, so to speak, which makes it possible, for example, to pay with BTC via ETH and to map the invoice in XRP.
I find that really exciting.

•

Chris@Multibagger

@BeachPlease Nice try. But I didn't understand much from the 2nd paragraph onwards. It's all too mathematical/technical for me.

•

Nuqqx@Nuqqx

@Multibagger Even the old master Buffet has always said this, and apparently he was not always wrong with his strategy.

•

BeachPlease@BeachPlease

@Nuqqx Why the rebuttal when you admit that you have not understood the arguments? Is that still ignorant or already mentally ill?

••

BeachPlease@BeachPlease

@Multibagger Then the mechanisms of the digital euro may catch you off guard. Just sayin'

•

Nuqqx@Nuqqx

@BeachPlease What kind of rebuttal? This is the strategy of the stock market legend, if you question Buffet you are ignorant or mentally ill. 😉

I am invested in BTC myself and intend to further expand my position, in my opinion it belongs in the portfolio as an addition.

••

Chris@Multibagger

@BeachPlease then that's the way it is. Probably at least 95% of people in Europe (more likely) would feel the same way.

••

Ver todas as 3 restantes respostas

Julius@Norisknofun

Exciting thank you :) think we will have relief in the next few weeks months as you described but I think we will see a final bottom in the summer end of the year...
Just let my savings plan run and have a few limit orders if we break through the support line or below 200WMA I will also buy $MSTR what is your strategy?

•

BeachPlease@BeachPlease

@Norisknofun I am definitely waiting for a bottom and bullish chart signals or macroeconomic trends.
I would only touch Digital Asset Treasury Companies (DATCOs) such as $MSTR, $BMNR or $3350 in a bull market due to their leverage. In addition, it could well be that such treasury constructs are removed from large ETFs, as they are not really equities. MSCI recently denied this, but in my view it would always be plausible.

•

Julius@Norisknofun

@BeachPlease I will also buy more when the bottom forms $MSTR is hedged until 2030 and I am very sure that they will outperform btc in the next bull run but yes your strategy sounds plausible I am curious where you will then enter ;) You'll have to post then

•