Are You Buying or Are You Waiting?
Popular Crypto YouTuber, Lark Davis, tweeted this earlier today:
Where are all of the people who were crying they missed out on #bitcoin at $69,000?
— Lark Davis (@TheCryptoLark) January 23, 2022
Well, the market is giving you a chance again!
Harsh truth is most will be too scared to buy until we are back at new all time highs...
Then, Cameron Winkelvoss of Gemini tweeted this:
If you didn't invest in #Bitcoin because you "missed it" at $35k, you've just been given another bite at the apple. Don't make the same mistake twice.
— Cameron Winklevoss (@cameron) January 22, 2022
Perhaps, I should invest in Bitcoin right now, because peoples in the Twitter-sphere and some other influencers I follow are telling me it's a good deal?
I mean, they could be right, but they could be wrong too.
I forgot, did they say if this was financial advice or not?
If we're just looking at technical analysis, on the daily chart, Bitcoin did fall to support at around $35k.
However, one can make a compelling argument that a stronger support for Bitcoin is at around $30k.
If we look at the weekly chart, it looks like Bitcoin has yet hit the 100 day Simple Moving Average.
It's possible that Bitcoin can fall even lower to $30k.
So, is the Twitter-Sphere right in that Bitcoin is a good deal right now?
Yes... cautiously.
Bitcoin may even go on an even better deal soon.
At the moment, the bears are in charge. I see no confirmation yet that Bitcoin is on a bullish trend.
That's fine to buy the dip, but there's a risk for the dip to keep dipping if the bulls don't take back control.
Happy trading.
Posted Using LeoFinance Beta
