Do you think it is convenient to buy bitcoin now according to your predictions? Or wait for its value to drop further?
Yes ... It's time to buy Bitcoin because price ATH already broken and now pumping up and down. Maybe price going into the correction. Once again bull run ready.
Lol, I would like you to follow the cautious advice of @Balto77, the advice is not hurting but a means to be careful about the next line of action about Bitcoin. Sincerely, I am not a fan of buying Bitcoin at the current level, and "to whom much is given, much could be demanded" as well, we have to be smart at these current levels. For the buying for investment purposes of HODLing, heck no, I can't buy Bitcoin anymore until after the next bearish season. The size is too big, so one can make a huge mistake buying it at current levels. However, if it is for futures trading, you can do whatever your trading chart tells you, it's business galore in that sense.
Besides, breaking the ATH doesn't exonerate Bitcoin from risks of corrections or reversal at a large scale, and you can see what it has done lately. It is even below the former ATH now and has formed a bearish price action on the daily chart. This can only mean a bearish threat unless otherwise stated. So, much care is needed at this point.
Hello @xiamin, this just caught my attention now and I hope you followed my advice. With what is happening in the bitcoin market, you can see that what you replied to was wrong which was why I supported the OP of what you replied to. Dealing with the market around its top or bottom must be extra careful about. It did not just start today, it has been for so long, investment must be engaged with care and not with anxiety, FOMO, people's opinions and all kinds of emotional factors that push someone to do it wrongly. But must be pursued with patience and the right expertise. What I follow best in my trading decision is chart analysis. I use that to know the right speculation and I do not joke with my price action which leads the detection signal of what the market would do. They've always guided me right. And no matter what I planned to do with a certain trend, when it is exhausted, I become more cautious, which was what conceived the advice I gave to you in my last reply.
Bitcoin was bought in weeks without much correction, that's not the way the right principle of the market movements should be followed. Though it might tarry, but when it starts selling to observe the correction, it could be so massive just like what it has started preparing now. In less than 1 week, it has moved $10,000 downwards for correction sakes, that's massive. I expect more selling over time, which was what the OP cautioned about at that time. It is always better to wait for the correction before buying again.
As it is now, it has breached an important level of $67,629 of my trend margin indicator on the 1D chart, it should continue to move lower until further notice. Bitcoin has not breached the indicator on the daily chart since the 26th of January, so breaching it now is symbolic and will be detrimental to the coin in my opinion.