🔥 Bitcoin Blood In The Streets: A Great Buy Opportunity?
""The time to buy is when there's blood in the streets."
A quote that most traders are familiar with. It basically means to buy assets during periods of weakness.
Bitcoin is currently experiencing a very volatily bearish period.
With a daily RSI sitting around 32 points, it takes just one red day for the daily RSI to hit oversold levels. During strong long-term bullish trends, buying when the daily RSI hits oversold generally indicates a great time to buy.
Seeing that the overall trend has been bullish for almost 1.5 years, I wouldn't pass on a potential swing-trade. Chances are that this is the final dip before 100k.
Do I know for sure? No. However, it's a bet I'm willing to take.
My overall perception is that there's likely more selling ahead from this point, but we cannot ignore statistical data.
You buying the dip? Interested to hear your thoughts.
A quote that most traders are familiar with. It basically means to buy assets during periods of weakness.
Bitcoin is currently experiencing a very volatily bearish period.
With a daily RSI sitting around 32 points, it takes just one red day for the daily RSI to hit oversold levels. During strong long-term bullish trends, buying when the daily RSI hits oversold generally indicates a great time to buy.
Seeing that the overall trend has been bullish for almost 1.5 years, I wouldn't pass on a potential swing-trade. Chances are that this is the final dip before 100k.
Do I know for sure? No. However, it's a bet I'm willing to take.
My overall perception is that there's likely more selling ahead from this point, but we cannot ignore statistical data.
You buying the dip? Interested to hear your thoughts.
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