 |
| Msg. #
| Subject
| Posted by
| Board
| Date
| |
|
|
| 27228 |
Re: Bitcoin
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.
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 |
|
| 