“Oh my god, panic mode, let’s run and scream, something is going on with Bitcoin and the price is going down!!! This is the end of the world, this is it, this is over, time to move on…” Or is it really?
So many people trying to predict what will happen next with Bitcoin. Where to next Bitcoin?
But it seems to be getting harder by the day to know when this correction will be over with.
When the final bounce will happen?
When our new opportunities to make money will come?
Listen, do not worry about it, Bitcoin is now open for long term purchase, long term positions, the new opportunity is already happening. Bitcoin is now the opportunity that we all need and want.
Let’s look into the King of Cryptocurrency, Bitcoin, and see what it holds for us in store.
Trading & Buying Bitcoin for the future that is to come
In my last Bitcoin trade idea, where I followed Bitcoin’s price, there was one very clear recommendation. Buy within the “buy-zone”, back then this buy-zone was in the $8,000 – $10,000 range, but, if the price goes lower… what do do next?
We are now in this second situation, where the support was broken, Bitcoin is looking for a new low. So it is time to buy all the big dips; buy Bitcoin when it is low.
The picture is clear, we just need to wait and buy once we hit our buy zone. If it [Bitcoin’s price] goes lower, then buy more. – Alan Masters
So the price has gone lower, let’s look at our new “buy more” zone.
Bitcoin 1 Day Chart Analysis
Let’s start by looking at the 1 Day chart, shall we? From there I will share my views based on many different time frames and indicators, but the daily chart will be our main focus for short term signals and we develop to longer time frames:
1 Day chart:
- All my favorite indicators are giving very strong bearish signals. They tell us that Bitcoin is going down hard, it is obvious, we can see it. So what more can we learn from these indicators other than the obvious?
- The MACD is really down on the bearish side, but still has some room left for more down movement, but not that much more. Bitcoin is trending negative, it is going down strong but the “plenty of room” to go down as we saw once we were looking from the top, it isn’t looking that good for bears anymore. Sellers have been selling like it is the end of the world, but remember that this correction is not going to last forever, it is really good that we are going this low. Once we reach a bottom, there is only one way left to go and that way is UP!
- What I believe is that more money needs to be extracted from all the beginners that entered the market before we can move on, plus all the media and manipulation coming from the conventional markets is strong, they don’t like Bitcoin as Bitcoin represents a new financial system that cannot be controlled by the few.
- These new speculators are being squeezed to the maximum. The winners will be the ones buying now, reloading now, re-buying now and then holding these positions for long. We reached the top at around $20,000, we are definitely sitting on some incredible lows. Bitcoin will not shoot back up like a rocket, but it will find its bottom, sit on it for a while and then start the next strongest Bull Run that you have seem Bitcoin go through before. We tend to look at past performance to predict possible future scenarios, past performance tells us that Bitcoin will grow out of this, stronger than it has ever been.
- On the weekly chart our indicators are sitting on levels that we haven’t seen since 2015. The daily chart is now sitting comfortably near the oversold zone, if we go below 20, this can be taken as a very, very strong signal that sellers are reaching their goal. For now we are waiting for our next buying zone.
- All the other indicators that I am looking at are very strong on the bearish side. I would first wait for them to stabilize, all of them, I am talking about the MACD, RSI, STOCH and DMI, buy the dip and then wait as long as it takes for my money to start to grow on its on. Pretty easy if you ask me… BUY & HOLD.
All the indicators on the daily chart are telling me that there isn’t much room left to go down anymore. Yes Bitcoin will go lower, as it is doing now and everything is pointing there, but it isn’t showing signals of going too low. We are looking at a range for the new buy-zone, where I recommend you re-buy and reload more Bitcoins, so you can sell as much as you want when we are testing for new highs. This range is $4,500 to $6,000.
These are the levels that I am looking at to reload more positions for long.
Message for Strength and Good Vibes
What would you do if Bitcoin, the King of Cryptocurrency, is crashing hard?
If you are a beginner and by any chance you are scared because Bitcoin is going down, trust me this is no big deal. Bitcoin has gone down many, many, many times before. Guess what also Bitcoin is good at? Bitcoin is really good at going up.
So if Bitcoin wants to go down now, let it do it. I am 100% sure that there will come a new cycle when Bitcoin decides to move up. So what you need to do is one thing only, buy now and hold it for long.
Bitcoin’s price might seem low to you at $6,000 if you started to look at this market when the price was $19,000 or more, even $20,000 and higher in some places, but for people like me, who love Bitcoin and understand it, $6,000 is a very strong price.
By the half of last year, everybody was predicting $5,000 us dollars for one Bitcoin to be a dream possible to be achieved, hard but possible. A milestone that could be done… But guess what?
After reaching this dream goal like it was nothing, and moving up even higher and strong, Bitcoin is now crashing, the end of the world, and the price is higher than the best of predictions when the price was sitting around $2,000 or more. (So even the worst case scenario, which we are looking at, looks better than our wildest dreams just 6-8 months ago… think about that one for a minute.)
So is Bitcoins price high or low? It depends on how you look at it, but back in January 2017 one Bitcoin was worth around $900. Today, February 2018, one Bitcoin is worth $6,000 or more. When you compared on this longer time frame, the price seems to be pretty good right now. High enough.
When you were looking at Bitcoin in the $12,000 range and going up strong, I am pretty sure you were saying, “Man, it would be so great to buy Bitcoin at the $5,000 level, that would be a killer profits long term hold”. This opportunity is now available for you. Follow the above idea, and use it to open new positions with Bitcoin, so that you can also benefit from the next run.
My message to you
My message to you in these times is to remain strong.
Market corrections are healthy, is like a detox, once the cleansing is over, you fill refreshed, renewed and with endless energy to achieve all of your dreams. Enough energy, strength and good vibes to reach all of your earlier goals.
So let’s get this detox done with, let’s sweat it out, let’s drop all those hands that do not belong. Once this is all over, we will be in a position to surpass $20,000 and reach, $30,000, $40,000 and even more. This is the type of mentality we need to grow wealth for the future that is coming for us. We’ve been only 1 month into to 2018, the market will be here tomorrow, the market will be here weeks, months and years to come.
So do not worry about your “balance”, do not worry about the numbers on the screen. You are already in it, open your long positions, and you shall win.
You can follow updates for this trade idea publicly on Trading View (this is a public idea): https://www.tradingview.com/chart/BTCUSD/YumaB43u-Bitcoin-Is-Up-For-Grabs-Should-I-Buy-or-Quit-and-Sell-All/