BITCOIN ANALYSIS

At this point we all are thinking of went we will have the next move in Bitcoin and want to be the first to take advantage of the same. However with all the FUD around its hard to correctly predict the same.

With any and every investment it is highly important to plan your entry + exist points and risk you willing to bear before entering into it especially when it comes to a highly speculative investment like cryptocurrencies.

My personal view is "Downtrend still Intact" as evident from the Daily Ascending Triangle Formation.

It seems till price breaks and stays above the last lower high which as of now is @ 12000, bears are in full control.

How should we plan to play such a bear market

Firstly ask yourself whether you believe in the future of cryptocurrencies or not.
If yes then whether you wish to hold for long term (define a period/date) or want to trade and move out
Secondly define Risk you willing to take i.e. if no stop or an appropriate stop
Then based on the above choose a method to trade, it could be any but not limited to the below

Remember... 50 SMA, 100 SMA, the Horizontal Green Resistance Line and the Trend Line, all are going to be bothering BTC move up.

Buy @ breach of the last higher low

OR

Buy @ move above 100 SMA
Buy @ move of above 50 SMA (more conservative approach)

OR

Buy @ strong break of Trend Line

Or

Dollar Cost Averaging, buy small quantities with every down movement

This is just a technical prospective however as highlighted in my past article, a strong move up might only come with a strong news so always look out for it and be the first to capitalize.

Hope the above was useful...

DISCLAIMER: Personal opinion and no financial advice.