Bitcoin prices hitting a trend-line not seen since March of 2019
This trend line can be drawn since the start of the parabolic move back in 2015.
Bitcoin hasn't really touched this trend line since March of 2019, and we all remember what happened from there.
Check it out:
(Source: ~~~ embed:1197934885287211008) twitter metadata:VHV1ckRlbWVlc3Rlcnx8aHR0cHM6Ly90d2l0dGVyLmNvbS9UdXVyRGVtZWVzdGVyL3N0YXR1cy8xMTk3OTM0ODg1Mjg3MjExMDA4KXw= ~~~
As long as this trend line holds, it looks like a great spot to accumulate.
The downside is, what happens if this trend line breaks?!
We will revisit that line of thinking when/if it actually happens.
Stock to flow model still looks good as well
The bitcoin stock to flow chart still looks fine as well.
It will take a big move down for this model to fail.
This model basically helps smooth out the violent short term moves (such as today) and helps keep a longer term investing thesis in mind.
As of right not, it looks like business as usual:
(Source: ~~~ embed:1197847212358819840) twitter metadata:MTAwdHJpbGxpb25VU0R8fGh0dHBzOi8vdHdpdHRlci5jb20vMTAwdHJpbGxpb25VU0Qvc3RhdHVzLzExOTc4NDcyMTIzNTg4MTk4NDApfA== ~~~
Things still looking a lot like they did back in early 2016, before the bubble really started inflating.
According to the stock to flow model, we won't really need to be concerned about bitcoin unless it goes super low (like $1-2k area), or we are not $100k within the next 2-3 years.
My not so expert advice for the current times?
Buy the dip.
*This is not trading or financial advice, this is just some dude on the internet stating his opinion.
Stay informed my friends.
-Doc
Where is this Dip?
Posted using Partiko Android
The 10% drop we saw today and/or the 30% drop we have seen within the past month, either one. :)
Hah! Call me opportunistic, I’d say this is the buying opportunity a lot of naysayers in my life asked for. Well, it goes that if you ask, you shall receive, therefore, I look forward to what that timing and patience will bring. I will admit, the notifications of price drops did alert me, then perspective took care of those perceptions and foresight returned. What a life it is, of early adoption and long term bullishness.
If the past trends and patterns play out in a similar fashion yet again, this may indeed be the buying opportunity of a lifetime. The problem is that there are no guarantees those patterns will repeat. We can only position ourselves accordingly... and hope.
It was so exciting watch Bitcoin drop. I totally lost my marbles yesterday. :-D
Why is that?
I didn't expect the drop would be so quick, and hard.
thanks for information buying at these levels could be an opportunity
Posted using Partiko iOS
You buying any?
No. Right now I'm watching the market.
its good financial advice either way if you ask me
it will be the first time i buy bitcoin for almost five years if it goes below 7000 andi wont be holding it for a long time either
will probably exchange it for monero when it doubles or triples
cheers and have a great day JR
You don't own any at this point?