Bitcoin Alert: Here Are Buy Levels
Bitcoin (BTC) briefly broke $10,000 again today. This has happened at least 5 times in the last month. This constant attack alerts technical traders that eventually it will flush lower. But the million dollar question is, just how low will it go?
Let’s look to the charts for our answer…
Analyzing the charts tells us that target 1 for Bitcoin is $8,800 and target 2 is $7,575. These are the two levels I plan to personally accumulate again at. I have been patiently waiting to re-buy Bitcoin since it topped out around $14,000. I am a believer in crypto as the future, mainly because of the massive printing of fiat currencies by central banks and the increasing debt of countries like the United States. It is unsustainable and a collapse is inevitable. When the epic financial collapse finally comes, debts will vanish and central banks will be dissolved. From the ashes citizens will demand a currency with a defined print structure so that governments cannot just print trillions on demand. While I am a believer in Bitcoin, I am also believer in having it as part of an overall portfolio, not the entire portfolio. Read the charts, have patience and buy when others fear.