BTCUSD
has been testing our stomach's acceptance of volatility lately. If the theory of using 50 day MA and 200 day EMA as buy opportunities are correct what is a trader to do with the current signals?
We are below the 50 day MA which could be a buy opportunity.
We are also way too far to start buying 15% above the 200 day EMA
We are still in a long up trend, and RSI indicator is offering confirmation of some support levels.
Personally, I think we wait and see if we reach come within 15% of the 200 day EMA before opening any new long positions or until a confirmation of uptrend resumes.
I will also be HODLING on for the ride.
Where do you guys think we are headed?
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Everyone is a genius in a strong uptrend- but how do you handle times like these?
Another way to look at my thought posted 3 days ago is that I wouldn't be shocked if we see 30-40% decline (waiting to buy until around the 200 day EMA)... yet I don't think we are looking at a 30-40% gain over the same timeframe. That risk/reward doesn't seem too great.
For me, I'm going to sit this ride out on the sidelines while I'm still ahead.
I'll be watching ICX and BTC and will be ready for when the time comes.
Yes, I changed my mind. But as much as I want to be bullish right now, I just can't be.
What do you guys think?
Another way to look at my thought posted 3 days ago is that I wouldn't be shocked if we see 30-40% decline (waiting to buy until around the 200 day EMA)... yet I don't think we are looking at a 30-40% gain over the same timeframe. That risk/reward doesn't seem too great.
For me, I'm going to sit this ride out on the sidelines while I'm still ahead.
I'll be watching ICX and BTC and will be ready for when the time comes.
Yes, I changed my mind. But as much as I want to be bullish right now, I just can't be.
What do you guys think?