The Longterm Bitcoin Buy Zone

We are here folks. We have truly entered the buy zone for a number of reasons and a number of indicators I follow which I will lay out some here. Bitcoin has dropped from 19000+ to almost 3000. If you were unfortunately one of those that piled in on the bubble swing up due to @CNBC and MSM pushing crypto in the tens of thousands then I feel sorry for you, but don’t throw in the towel now, at the bottom.

Here is why we have entered the buy zone, a few reasons.

1. If you have followed me from 16000+ I have constantly been saying that Bitcoin will fall, crash, pullback, whatever you want to 80% of the current price. Bitcoin has done this more than 5 times in its existence and there was no reason NOT to believe it would not and could not happen again.

2. Take a look at the monthly chart and look at the stochastic indicator. You can see that you BUY the oversold stochastic indicator for the next run to the overbought. These are market cycles and they occur in all markets. Yes this may take a while but this is how you play the game. Buying here is like buying in Feb of 2015.

3. When you start see crap like this, also known as FUD.

This clown has no idea what he is talking about and likely had to fire a bunch of people for buying bitcoin well above where it is. When you see this capitulation non sense it is a good time to start buying.

I am currently watching the 3000 level which is the 200 week MA zone that has held support in the past and looking to keep accumulating. Bitcoin looks like it wants to make a move and we have a LONG way to go here to fix this damage...but it will be fixed in due time.

This is what we want to start seeing at the bottoms.

Published by Hey I'm Snuffles

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