Wednesday, February 7, 2018

Do you think now is a good time to buy Bitcoin?

Do you think now is a good time to buy Bitcoin? - It is a very difficult task to select the crypto that is in the downtrend. using technical analysis can at least help us in trying to get a rough idea of the exact moment to buy Bitcoin.

As we know today almost all crypto has a very drastic decline, the effect is not only because the price of bitcoin fell sharply in recent days coupled with the less unpleasant issues. do you want to buy bitcoin? to find the right moment to buy Bitcoin please read through this post.



Do you think now is a good time to buy Bitcoin?

Primary Key

The 200-day fall to EMA has proven to be a good long-term buying opportunity over the past two years.

Traders can buy 25% of the desired allocation around the $ 8900 level and stop the stop loss of $ 7400.

Average is not a good trading practice. Therefore, a fresh position should be avoided if the price falls and stays below the 200-day EMA.

This track record in choosing prices in top positions and bottoms?

Do you think now is a good time to buy Bitcoin?

Calling the price at the top is a very difficult task. I tried to call the price in the top position twice. The first call of 27 November was wrong. I estimate a 30% drop from the highest level to $ 7,000 but Bitcoin only dropped to $ 8595.95 on Nov. 29 and that too for only a few days.

After that, Bitcoin continued its continuous operation and I again made a call in the top position on December 8, when trading above the $ 16,000 level. The virtual currency hit $ 19891.99 on December 17. This call proved very close to the top position.


So, when is the right time to buy Bitcoin?

By the end of 2015, prices will break the 200-day EMA. Since then, there have been five declines to the 200 day EMA, which has proven to be a good long-term buying opportunity.

Other article : Is it True That India Forbids and Stops All Existing Bitcoin Exchanges?


Currently, the 200-day EMA is deployed at 8898. I believe that retesting this rate tends to attract long-term buyers. The trader must wait and see about 4 hours to see if the level is holding or not. If the level holds, 25% of the desired allocation in Bitcoin should be done around the $ 8900 level. SL for this purchase should be kept at the $ 7400 level.