The Long Investor

$BTC TOP 20

Added 2024-05-01 13:36:40 +0000 UTC

$BTC has been brilliant for us, Wave A is confirmed for me now so we are just waiting for it to complete, which is looking set at the 200 Day MA at the 0.38 Fib at $51k, there has been excessive selling lately which will soon put this in an oversold state and Wave B will follow next.

I think if support is confirmed at $51k, DCA'ing a position here for the next few months would make sense, if for whatever reason this entire pull back is complete at the 0.38 Fib but I don't believe it is because I don't believe the market pull back will be complete by then either.

Let's remember that this pull back is part of an overall impulse wave and I have $BTC moving to $125k to complete its next wave up for Wave 3.