BTC Breaks 20 week MA. We're Seeing Significant Movement. I Hope You're In!
Another Bitcoin post here, basing my content off “Into the Cryptoverse”, perhaps the ONLY level-headed bitcoin analysis out there.
I highly recommend you keep up to date with this content if you’re in Bitcoin right now.
The gist is clear: if you aren’t in already, you should be in.
The danger for investors in any market is letting your emotions cloud your judgement.
One way this occurs is with irrational price targets.
“I’ll buy at X price, when BTC retraces back.”
And maybe you use memelines to make yourself feel better, telling yourself that BTC will return to that perfect entry level price.
But what if it doesn’t?
Is it worth it to waste your entry opportunity now, and potentially miss out on the gains from here on out, just to feel comfortable about entering the market at your emotionally-driven price target?
How many people wish they bought at $6k, but didn’t, because they were listening to the voices of those who sounded 100% confident that BTC would be falling even lower, to $5k, to $4k, to $3k?
And how angry are those people now, FOMOing in at what may be the month’s top?
Why have an all or nothing approach to entering BTC, instead of using a far better method of DCA?
You have a few thousand dollars you want to play with? If you had simply started DCAing every month, or two weeks, or week, months ago, you’d be fine and in the market now.
In any event, we’ve broken past the 20 week MA. This was our support line in the last bull market. Moving above the 20 week MA, a significant move is expected. We’re seeing that play out right now. Will we retrace back to the 20 week MA? Yes, at some point, as this confirms support. But that might not happen for weeks or months, and that 20 week MA could be far higher than it is now.
If you haven’t started DCAing, and you plan to, do so now. Don’t set irrational price targets to make yourself feel better. What you need to do is act.