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Bitcoin

By: Decomposed in 6TH POPE | Recommend this post (0)
Fri, 26 Nov 21 5:33 PM | 26 view(s)
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Msg. 27018 of 60008
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Technical Analysis (TA) should always be treated as a flawed tool helping investors decide when to buy or sell a stock that they have already decided to buy or sell for fundamental reasons. So take this with a grain of salt.

A principle of TA is that investments will periodically test support levels, the most important being support at the prior resistance level. With bitcoin, prior resistance (180 day) occurred at about $50,000. Bitcoin is presently falling. As someone who has decided to buy crypto, I'm using bitcoin as a proxy for the industry and looking to make one or more purchases of ethereum as bitcoin tests support. I'll probably buy some ethereum when bitcoin hits $50k, some more if it falls below $50k, and then wait until I see if support held (that bitcoin didn't continue falling in an all-out crash) before making a 3rd and final purchase.





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Gold is $1,581/oz today. When it hits $2,000, it will be up 26.5%. Let's see how long that takes. - De 3/11/2013 - ANSWER: 7 Years, 5 Months


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