Post
Topic
Board Altcoin Discussion
Re: Are you taking advantage of this red market?
by
Sayeds56
on 03/05/2024, 07:41:55 UTC

I purchased Bitcoin at a low point around 58k and am now waiting for it to break through 61k, at which point I expect a rally up to 65-66k, based on my technical analysis. While it's always a good time to buy BTC, I anticipate a brief pullback or liquidity grab around 50k before a sustained move upward. In the meantime, participating in passive events can be a viable approach. Is this the event?


It appears as you have good understanding of technical analysis, how ever when it comes to Bitcoin experienced investors prefer to avoid day to day trading as it high unpredictable digital currency. The best approach is considered to accumulate Bitcoin by using Dollar Cost Average (DCA) and book profit in bullish market to yield substantial profit. The anticipated event you mentioned where Bitcoin could potentially surpass $66,000 is linked to the injection of liquidity expected when US treasury begins to buy back treasury bonds. DYOR

https://www.reuters.com/markets/us/us-treasury-keeps-auction-sizes-unchanged-through-july-launches-buyback-2024-05-01/