Quote from: Vispilio on October 01, 2019, 04:53:58 PM

Quote from: 1Referee on September 26, 2019, 01:14:48 PM

It would offer a DCA opportunity, but nothing more than that. It's bearish to see the price close below the 200EMA on the daily without bouncing off it first. In most cases these movements provide a glimpse of what the longer term trend will look like, so unless we make a massive bounce back above $9300 and close a few daily candles there, there is not much point in pushing a bullish narrative.

I expect the price to plummet to $7000-$7500 which will be my first DCA entry point and from there I will reassess the market's behavior for my next move.

Nothing to do with DCA, after such a violent drop, going long in the sub 8000 area would be one of the highest probability trades you can make for the year, and so it turned out to be the case.

Regardless of long term outlook, the bounce was almost guaranteed, now it's not such a high probability play anymore but I expect the recovery to continue to at least above 9000 USD within the next week...

I usually look to increase my BTC holdings in general, but that is a different mindset from intraday trading activities.

Predicting moves of bitcoin is very hard at this moment. There is just too much uncertainty.

PS. Correct me if I'm wrong but decreasing your dollar cost average will lead you to increasing your bitcoin holdings.