Posted: May 12, 2019 1:18 am
If nothing else, you should learn about and invest in cryptocurrency just for the ride. Man, what an emotional rollorcoaster this is!
Anyway, I stated in my last entries here that once bitcoin gets through the significant resistance of 6K+ (US dollars) that the bear market would be officially over. I stand by that claim now that it's rapidly climbed to about 7K though a sharp correction/plunge has been on the cards for several days. So, for the record, if anyone is watching this thread and has missed the boat at the levels I purchased them at (less than 4K, for about a 90% profit in less than 3 months) then my advice at this juncture is don't be hasty to buy just yet. We're in fomo mode (fear of missing out) and the RSI (a technical analysis indicator) is indicating oversold. Indeed, several such indicators are indicative of bearish divergence.
If you are semi-interested at this particular juncture, my advice would be to just watch the market for several days. See if it stabilises at 7K. If it does, chance your arm before the rocket departs. Otherwise, if you're more cautious, wait for it to continue rising, or else hope to buy the dip. I'm not sure how big that dip might be, but for sure the significant 6K+ resistance level is now steadfast support.
For the record, bitcoin is by far the best performing asset regards ROI in 2019:
https://www.ccn.com/surging-bitcoin-201 ... t-globally
Anyway, I stated in my last entries here that once bitcoin gets through the significant resistance of 6K+ (US dollars) that the bear market would be officially over. I stand by that claim now that it's rapidly climbed to about 7K though a sharp correction/plunge has been on the cards for several days. So, for the record, if anyone is watching this thread and has missed the boat at the levels I purchased them at (less than 4K, for about a 90% profit in less than 3 months) then my advice at this juncture is don't be hasty to buy just yet. We're in fomo mode (fear of missing out) and the RSI (a technical analysis indicator) is indicating oversold. Indeed, several such indicators are indicative of bearish divergence.
If you are semi-interested at this particular juncture, my advice would be to just watch the market for several days. See if it stabilises at 7K. If it does, chance your arm before the rocket departs. Otherwise, if you're more cautious, wait for it to continue rising, or else hope to buy the dip. I'm not sure how big that dip might be, but for sure the significant 6K+ resistance level is now steadfast support.
For the record, bitcoin is by far the best performing asset regards ROI in 2019:
https://www.ccn.com/surging-bitcoin-201 ... t-globally