First of all your choice about OPtimism and Immutable is good choice in my opinion layer 2 is on the rise nowadays but the bitcoin price is not good making this is not the good moment.
Im gonna share my opinion though the price of bitcoin now is testing 26K support or 100 EMA and it seems the price reject at that point. When bitcoin price reject for couple of days and show bullish I think that is the right call to buy altcoin like Optimism.
If you look at the chart the yellow line is previously a resistance and now turning into a major support although is not there yet. you need to be carefully since the price already broke the 200 EMA and I would say the good entry point for OP is $1.2 and take profit on $2
thanks for the share here budz , will check this position from here .Im gonna share my opinion though the price of bitcoin now is testing 26K support or 100 EMA and it seems the price reject at that point. When bitcoin price reject for couple of days and show bullish I think that is the right call to buy altcoin like Optimism.
If you look at the chart the yellow line is previously a resistance and now turning into a major support although is not there yet. you need to be carefully since the price already broke the 200 EMA and I would say the good entry point for OP is $1.2 and take profit on $2
I've been interested in adding Optimism and ImmutableX to my portfolio but their price has been inflated after big run ups.
Now they are both in freefall and I'm considering an entry point.
How do you decide where to take the plunge? A certain %drop from the top or a %above bottom?
Or do you just look at previous levels as the traders always mention, Optimism is getting close to some previous tops at $1.3 for example?
Or do you get buy targets from another source?
If you really trust and believe about these project then there is nothing to consider but buying now as the price are dumping , though this is not my kind as I will never buy a coin that already reached its top for many reason.Now they are both in freefall and I'm considering an entry point.
How do you decide where to take the plunge? A certain %drop from the top or a %above bottom?
Or do you just look at previous levels as the traders always mention, Optimism is getting close to some previous tops at $1.3 for example?
Or do you get buy targets from another source?
and one of those are I have seen many of that like and losses happened, you must learn how to get the timing in buying before the pump , not unless you are willing to keep holding long if cases that the value dumped after you bought them.
I usually accumulate when the coin has reached its most decrease that is when it hardly decrease anymore and there are price swings frequently occuring i think that's like the right time to buy, but then again seeking the very bottom is really hard, usually if things go wrong with investing at the bottom like it further got some correction just wait it out.
and when was that? how to detect that the coin already dropped in its lowest?any Idea mate so we can rely and try doing it in general mean?