Buying Bitcoin at a bargain , is different for everyone. Some might think at $ 8500 it is cheap , well compared to the December high near $20K, this might be so. Others value this coin close to $0, and so anything above that value is no bargain.
Currently the value of a bitcoin is falling and doing it quickly. Momentum indicators are not in oversold territory, so there still a chance for bitcoin to sell off further.
Maybe be patient, ignore FOMO , and look at certain levels for possible reversal. Consider a confluence area of the
1. 50W MAV
2. .786 fib reversal.
3. Monthly S2 pivot.
This is a wide buy zone , but heck this coin can move this distance intraday. Could this be a bargain ? Yes if reversal , no if price moves to the June/July 2017 region :) ....
Currently the value of a bitcoin is falling and doing it quickly. Momentum indicators are not in oversold territory, so there still a chance for bitcoin to sell off further.
Maybe be patient, ignore FOMO , and look at certain levels for possible reversal. Consider a confluence area of the
1. 50W MAV
2. .786 fib reversal.
3. Monthly S2 pivot.
This is a wide buy zone , but heck this coin can move this distance intraday. Could this be a bargain ? Yes if reversal , no if price moves to the June/July 2017 region :) ....
Comment:
Nice movement down. Wait , there's likely to be a further drop towards the buy zone....:)