The lower Bitcoin price as it is today should be something to be excited about and eagerly awaited. Technically I mentioned in my previously published article, "If you have added your current Bitcoins investment in the 40Ks position, it is actually quite good and just monitors it. And if around the beginning of March 2022 Bitcoin turns out that Bitcoin will decline to 26K [corrected to 29K], then it shouldn't be an excessive worry because there is a greater probability for Bitcoin to go to 65K. But if you could be patient waiting Bitcoin close to its critical area of 26K [corrected to 29K] then it could be the best hotspot to add your investment in Bitcoins". So that people wouldn't regret later by not owning or investing in Bitcoins like the time when Bitcoin was around $1Ks in 2017s or even $200s in 2015s. Moreover, there is already an argument or maybe a claim that Bitcoin is now the world's 8th most valuable asset. Then it's quite obvious the reason to take full attention to even owning Bitcoins is that it technically and fundamentally already supports its outstanding prospect. The same situation actually also talks about all crypto coins in general.
Technically Bitcoin is now on the landing ground area within the 29K up to 35K. This support was actually a Bitcoin's break-out area in January 2021 and fliped into a major swing point in June 2021, so this support is a very strong landing ground (super value area). Technically showing that Bitcoin is currently in a choppy range-bound pattern means it is expected in the preparation phase for the final countdown to later glide away from Earth to the moon. I personally expect that Bitcoin in the future can circulate stably in its orbit so that it does not experience much sharp volatility as it is today.
Please take a look at the following BTC/USD chart as the reference for my technical analysis of structural price action, which is quite simple but very logical. The chart is taken from Tradingview.com on February 23rd, 2022.
In general, I actually agree with the statement from @ssaurel in his article entitled "There Is No Best Price for Bitcoin. There Is Just the Price at Which You Choose To Buy Bitcoin." He invites people to pay attention and focus on the why of Bitcoin, its fundamentals, and the potential for growth in its utility to its users in the future of the need to protect the fruits of one's labor from the ravages of inflation in a way that resists censorship. However, I think that paying attention to and following the spot market prices movement is a very important aspect as a basis for calculative risk and opportunity assessment to meet good momentums for people investing because it is the nature of everyone to obtain financial profit either in the short or long term.
Hopefully, this explanation can place the matter in a proper and logical proportion without having to get carried away in a situation that looks uncertain. Or it's a good way how to manage uncertainty.
Disclaimer: This article is based on my research and personal opinion. This is not an order or an invitation to do. Investing in the cryptocurrency market provides both benefits and risks. Every investment decision is the responsibility of the individual who made the decision. Please invest according to your personal risk profile.
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