Buying Bitcoin

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gon

Well-Known Member
Bitcoin can be explained imho with the weekly chart as the optimal timeframe.

I also buy each time it breaks into or below a weekly point of interest. My trades are held there. Then I will eventually sell as price starts to breaks highs.

At the end, all the chart is basically fully covered with you long and only buy long positions. Shorting BTC is unnecessary and adds unlimited risk while taking only long positions keeps your potential RRR close to zero, which is the best possible scenario.

For me the most optimistic scenario for BTC is this one in terms of repricing higher.

Of course, everything can be different, this is just a theoretical scenario. That trendline is saying: take me out and kick off all the trendline buyers right now!!

1649688105507.png
So the things goes like this:

BTC is now being controled by buyers that are lowering prices to get bitcoins at the most lowest possible prices.

The two closer obvious levels to execute buys are the level below the trendlin above 30K and the area below the last double bottom by 25K and hopefuly near 20K.

These two aeas are completely full of sellside liquidity in the form of sellers exiting their longs, agents riding the descending structure etc...

So I think that the most obvious level where prices will structuraly be strong in order to change from long to short hands will be these areas by and below 30K.

Once the pockets of the dealers are full of bitcoins, they will start to offer higher prices to induce people to buy as they sell taking control of price as it starts to move up again in a heavy selloff program to the tops.
 
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Johnnyjoe

Well-Known Member
With Mt. Gox supposedly dumping 140,000 BTC which If it does will most likely will cause a flash crash I'm buying that crash !
Coinbase been dicks again limiting my buy orders luckily I have Instacoins as a backup .
Just can't be arsed with another exchange again .
Where do people see bitcoin bottoming out ? I see a big OB at $12k could be wrong anyone see it going lower
 

LuckyMac

Well-Known Member
I think it's going there too. I'll trade it on Crypto.com but i use instacoins to buy monthly from my wages so i can just keep a small amount ticking over. Going to try out using Binance more too but happy with the others im using at the moment.
 

HeavLeighG

Well-Known Member
With Mt. Gox supposedly dumping 140,000 BTC which If it does will most likely will cause a flash crash I'm buying that crash !
Coinbase been dicks again limiting my buy orders luckily I have Instacoins as a backup .
Just can't be arsed with another exchange again .
Where do people see bitcoin bottoming out ? I see a big OB at $12k could be wrong anyone see it going lower
I'm having similar issues with my Coinbase account, getting really annoyed at this point with them. Would you suggest completely switching to Instacoins to avoid dealing with it?
 

sebking1986

Well-Known Member
I'm having similar issues with my Coinbase account, getting really annoyed at this point with them. Would you suggest completely switching to Instacoins to avoid dealing with it?
You'll need an exchange anyway but they are a simple and effective place to buy it for sure
 
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