Bitcoin making a new low
Today saw Bitcoin price making a new low after the peak. I don't think the falling in price is done yet. But in the near term, the price may be getting into an interesting area where it could turn anytime. I plan to pick up some at $8,500, $8,000, $7,500, $7,000, and $6,000 with a small position each. These are not meant to be long term holdings and I would sell them once I see a price bounce. The larger position that I accumulated before will not be touched.
It will be VERY interesting to see where the bottom is.
Yeah I'm also waiting to see where it would be. But as always, it's very difficult to call out bottoms. I plan to accumulate as it falls.
how can you tell where the bottom is?
You can make an educated guess by looking at the charts and doing some analysis but it is not an exact science.
I don't think you can and I don't think we have seen the bottom yet. Dollar-cost averaging is my strategy here.
oh i get it- the temporary bottom until you're sure it'll go up again for a while.