Bitcoin Price Thread
- Thread starter Magna
- Start date
well technically it can be, but…..I use the 50-day moving average (SMA) to trade most things including BTC & ETH. I started to reduce my holdings on 11/26 which is when BTC went below its 50 day SMA.
ETH stayed above the 50 day much longer (12/06) than BTC but in the end most cryptos will eventually follow the mother ship. There still hasn't been a lower low so the longer term trend is still in tact.
I never fully get out of crytos I just reduce my holdings when it is in correction mode. This seems to be the best strategy because of the potential future adoption.
It can drop more than 20% again. I hear it's an 80 vol asset. The price can also double or triple or quadruple
There are two YouTube channels I follow that explain the TA very well in a clear easy to understand manner, but I'm an FA guy
Mariah Monetize, on one of her videos, showed that if you only traded the break of the btc 200DMA that you would be out during a bear market and be in during a bull market, and you would have a lot more $/cryptos in your portfolio than simply hodling and you will be able to live a normal life with no stress
Wolf of All Streets, Scott Melker, does a daily TA forecast of coins, btc included, and also does FA, by discussing significant news that recently came out. He said $53K was support and when it broke, here's the result where we are. I think he said next support is $42K
Me, I'm an FA btc/cryptos investor-hodler, and don't trade the short term
I follow long term macro trends, on-chain analysts, for a shift from a bull market to bear market and vice versa. So far, signals are very strong that we are still in a bull market.
If that changes, I will post it here
As I've posted on another thread and maybe on this thread as well, I'm looking forward to the bear market to sell all my cryptos and all my btc's only keeping 10 btc's in the portfolio
During a bear market, btc can go down over 85% from the high so will start buying btc at $15K and lower
During a bear market, altcoins can go down over 95% from the high so will start loading up on Eth at $500 and other altcoins at similar price levels compared to their highs
Well stated.
I use TA as a shortcut to understand & trade any asset class especially assets I don't understand that well. I remember someone stated that cryptos felt like tulipmania but since it came back from an 80% drop to go even higher proves otherwise. Tulip prices never recovered from the collapse.
I sure since you are more actively involved in BTC you have a better understanding of it.
I understand computer stocks a lot better without using TA to trade the likes of nVidia, AMD, etc since I used be to an Oracle DBA & Solaris/IRIX (Sun & SGI UNIX flavors) sysadmin in my old life.
I use TA as a shortcut to understand & trade any asset class especially assets I don't understand that well. I remember someone stated that cryptos felt like tulipmania but since it came back from an 80% drop to go even higher proves otherwise. Tulip prices never recovered from the collapse.
I sure since you are more actively involved in BTC you have a better understanding of it.
I understand computer stocks a lot better without using TA to trade the likes of nVidia, AMD, etc since I used be to an Oracle DBA & Solaris/IRIX (Sun & SGI UNIX flavors) sysadmin in my old life.
Check out exchange token KCS (KuCoin) during the time mainland Chinese had to offboard from Huobi. It looks like they got a lot of the customers.
Interesting chart.
Kucoin is very progressive in staying as open as they can to all crypto customers. Will likely be the last one standing before KYC is forced. Expensive withdrawal fees but still provides value to many. KCS is projected by some to repeat the price performance of BNB.
I don't own any, but it looks like it will do pretty well