I just checked my Metatrader charts today (in fact I use for analysis on crypto currencies majors)
Bitcoin has made a huge dip...
Some are wondering how deep this correction will dive...
Since predicting the market is all about probability I think the best time to buy is now 47,000- 43,000 range...
If you check it on the 4 hr timeframe, there was a resistance there before it broke out on the 12th of this month....
And if you are an experienced trader... A broken resistance always turns out to be a support...
If you want to buy....
Now could be the best time.... Am like 90% sure of that
My post is open to scrutiny....
Drop your suggestions!
A classic example of misrepresenting TA as some sort of crystal ball into the future.
Looking for patterns in a graph simply won't help when the macro trends are against you.
I'm not saying that they are though. I do think with the current level of institutional participation and market fervour that the FOMO will continue until at least the end of the year. I just don't think it's a very bright idea to "buy the dip" every time because of an iffy "resistance" or "support" level that may or may not exist - it is much safer to approach the analysis from a fundamentals perspective.