From a technical perspective, now is the time to buy Bitcoin

28일 전

Professional Chartists say now is the time to buy Bitcoin.

Robert Sluymer and Fundstrat Global Advisors just publisher their weekly crypto technical analysis and they say now is the time to buy bitcoin.

Specifically, buy it over the next couple days on the expected pullback.

(Source: https://twitter.com/rsluymer/status/1019614609001668608)

Why buy now?

The thought process is that we finally had a downtrend break on significant volume.

Since we weren't trying to catch a falling knife, we likely needed to see this kind of price action before we could buy in based on the technicals.

Now that we had that trend break, the play is to wait for some throwback (a pullback), and then buy for the next leg higher.

$7200, $7000, and $6800 are all support levels to watch and add positions at.

Basically, the chart has now flipped from a bearish bias, to a bullish one in the medium to longer term. With a bias to the downside in the very near term.

Buy that weakness.

A more in dept explanation of Sluymer's and Fundstrat's rational can be seen here:

(Source: https://twitter.com/rsluymer/status/1019614609001668608)

The pros have spoken...

You heard it here first folks, the professionals are now saying "buy the dips" instead of "sell the rips" based on the technicals.

That doesn't mean it is impossible for bitcoin to make new lows at this point, but it means that the odds have now flipped in favor of the bulls, and trading is all about position sizing and playing the odds.

*Don't forget to sign up for Byteball using my link and I will pay your registration fee.

https://steem-byteball.org/#7OIOYCUY3UZVKEAKCLPU4FWIUORJY224

Then just leave your receive address in the comments section below.

https://steemit.com/steemit/@jrcornel/want-to-earn-some-free-monies-register-your-steemit-account-via-byteball-and-you-will

Stay informed my friends.

Follow me: @jrcornel

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Buy Buy Buy! 💰💰💰

Here's my Byteball address:

UU4LUPQMPLAMYYQAUMTXKJZGNRKJ2EYY

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Sent

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I always wonder if that actually works lol. In any case we all have a steem address lol Transaction is free and instant too💪

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Yep, it did work.

If it moons,it's a good buy.

Here's my Byteball address:

G7VLKH7FTARLVF2RVTHY6FXZBLY5CB6T

Nice Analysis. do you think ETF will affect the price of bitcoin or any other cryptocurrency?

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EPF as in the retirement plan in Malaysia? Or do you mean ETF?

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ya Sorry i just typed it wrong.

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Ah ok, yes it will have a profound impact. Especially if the ETF is physically backed by the currency it represents. A physically backed bitcoin ETF would likely lift bitcoin prices rather dramatically as the fund would have to go out and purchase the coins. Gold ETFs sent the price of gold "to the moon".

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The Chart Of Bitcoin is As Similar as Gold And Hence we can See a Huge Pump Into It.
So, What Do You Predict Its Price After Thr ETF.?

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Tough to say, though I would not be shocked to see bitcoin hit something like $50k over the next 2-3 years as bitcoin ETFs make their way onto the scene.

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I Hope For A Better Result..!!
By The Way You Have A Great Knowledge Of Analysis..
I request You To share More posts Like this. I Found It really Helpful
Thank You So Much

Will it have an effect on other coins as well?

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Absolutely. The only question is whether it will be a positive or negative effect.

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i was thinking to invest and i am noobie in crypto field with very less knowledge. I see posts regarding bitcoin and try to understand things.

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Most likely as bitcoin goes higher it will pull many of the altcoins up with it. Though, it is possible that bitcoin could also go up while pulling value out of the altcoins, meaning as bitcoin goes up, they go down. Though I think the first scenario is the more likely one in the current environment.

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Thank you sir. it was a great suggestion from your side.

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I hope so

@jrcornel I think this is the best time to buy bitcoin. A lot of good news are coming and showing indications that it will go up.

I’ve been waiting for a while to buy some so thanks for sharing this

Now, byteball cannot get any referral and btc cost uping.

can it dump the alts coins??

The time was a month ago.

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Not from a technical perspective. It was akin to trying to catch a falling knife. You may eventually catch it, but you usually get pretty bloody in the process.

Hey Guys !

Bitcoin did Amazing Job Today after the Breakout !

4-5 Resistance to look for Next
( Watch today's Facebook Live to know more in detail )

#Honestly i don't see any big money yet other than #Breakout buyers
By Big Money i Mean institution and so on
They buy Bottoms not Big Green Candles
Trades like us buy #Breakout.....
I'll Still Try Some entry if i see $7k Strong Holding....

My trading knowledge tells me to see if volume drops on a pull back, and if it happens above previous bouts of selling volume.

Good analysis friend I share these opinions, thanks for sharing them. Greetings.

really wanna buy but at the same time i'm scared of fud might come along ... ;(

@jrcornel yes this is a good time to buy. but i already bought around $ 6600 . but as i think Alt coin market will also boom with BTC.

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I was buying on the way down too. Traders likely look for trend breaks before they enter a trade. Investors may buy on the way down thinking its value will increase over time, regardless of what the short term charts look like.

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@jrcornel yes you are absolutely right. as i am also both trader and investor . so your experience of crypto will surely help me in future. so i am so happy to be with you. your advice will be great for me in future.

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Awesome, thank you!

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Wow another green signal.

6800 was the key level, above that long, below it OUT keep it simple

Thanks for analysis.I am going to put some money in crypto soon.

@jrcornel in spite of BTC good momentum, altcoins are bleeding why?

Thanks for sharing!!
Well!! Hie.. I'm a newbie.
Here is the link to my post. Upvote if you like the content. thanks!

https://steemit.com/creativity/@cherrythinks/echoes-poem-2-unfolding-life

Well this is the technical breakout we need the market is confused in which direction to head i guess this is the moment

Byteball address D7Q3ZRW6XK5P7WXV6HAUZOQPILAHYKYE

I am not to sure where I see this, I do believe a more panic stage will ensue. Please check out and follow my work

High time. I was getting a bit anxious what with the delay of any positive moves out of the rut. I was trusting in the Wyckoff model to see Bitcoin to a 10k price in August. Now it looks again like a real possibility. But still it may be later than I was betting :\

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Yea it is tough to say. I mean it moved about $1k in a day, so really it only needs a couple days to get to your price target...