dsteaves

BCHUSD on the weekly timeframe is looking bullish. It appears we may have a golden cross happening, with the 50 weekly (green line) about to cross over the 200 weekly (red line) moving average. Also, BCHUSD broke out of a descending channel to the upside further bolstering a bullish case. The monthly looks like it will close as a bullish pinbar too. I think its reasonable to see BCHUSD move upwards toward the $490-525 zone. What concerns me is a lack of volume on the weekly and monthly timeframes. Overall though, things are looking good for Bitcoin Cash! Let me know what you think.

Wow! Its been a great run- up thus far huh? I realize it may go up further, but I'm quite happy with profits taken off the table. I have a little bit left to sell in case it does run up more, but overall, I'm doing just fine. The chart shows where I'll start to dollar cost average back into bitcoin. Red area is where I'll start to do small weekly buys. Yellow area I'll buy more. Green area is where I'll load up big time. Oversold monthly Stochastic RSI will also guide purchases. If it goes below the green area, I'll beg, borrow, or steal money from my wife and kids! Keep in mind, this plan is for the long run; years out. Not financial advice (and pretty shady advice at that).

I believe we are in amazing times for accumulating BTC, provided you have a long enough time frame. I'm thinking 5-10 years at least. Dollar cost averaging has been far more successful for me than any type of trading, and it takes far less of my bandwidth and time. My strategy has been really simple: when price is within the yellow box, I purchase 5$/day. When price is within the green box, I purchase 10$/day. And when price is below the green box, I load up with what I can afford! Additionally, I've been placing limit buy orders at low levels, and doing 15-20$/day. These numbers are what I can comfortably afford, and more importantly, what I can afford to loose. I don't get concerned with price fluctuations, as long as price is within my colored zones for buying. Whats more important to me is making the effort to buy a little bit each day. Sometimes life gets in the way (family, career, hobbies, jiu jitsu, etc), and I don't make the time each and every day. But the vast majority of days I can make the time. I've been so excited lately with the price of Bitcoin! It could drop even more (and probably will) and I'll be even more excited because I'll dollar cost average my price down even more! HODL my friends!

Nothing much has changed since my previous post on the dollar cost average, DCA, strategy for accumulating BTC. I've adjusted the green and yellow boxes a bit, and adjusted the Fib levels a hair. But, my simple long term strategy (many years out) is to buy 5.00 worth BTC every day, regardless of price, when it is within the yellow box. IF price goes into the green box, I will purchase 10.00 every day, regardless of price. If it drops below the green box... well, then all bets are off, and I"m loading up! In past comparisons, my performance and return on investment, ROI, is much better using a DCA strategy vs swing and day trading. It is a very simple strategy for me to use, doesn't take much time, and doesn't require lots of screen time. Its not sexy and requires a mature level of patience, as compared to trading. I still trade swings, and occasionally day trade, but this is my bread and butter play. Long term I'm super bullish, and can easily imagine BTC going into the 6 figure values. Wide spread adoption of crypto appears to be happening slowly, and geo-political and economic circumstances seem poised to raise BTCUSD value, but in the end I believe it is the market makers who ultimately control price. I hope you find this to be of some value, but please don't use this as any kind of financial advice. Happy Holidays!

The chart reflects an easy strategy to dollar cost average, DCA, and is super easy to implement. My timeline for investment is years out, so if you are a day or swing trader, move on please. Now for the chart: The yellow box represents an area that I will purchase 5.00 $ worth of BTC per day, every single day, regardless of price. The green box represents an area I will buy 10.00 $ day, regardless of price. I also have buy orders for swing trades within these zones, but the DCA strategy is my favorite, and has proven to have bigger ROI than active trading for me. Not to mention, its way easier! But whats the tradeoff you ask? The DCA strategy takes a lot of maturity and patience to execute, and its boring. Its not sexy, or flashy in any way, but usually provides larger gains over the long run. For those who saw my previous idea, this is simply an update of some support/resistance areas. Largely its the same. Let me know what you think. And don't confuse this with being any sort of financial advice in any way, shape , or form. Thanks and always practice risk management.

For BTCUSD , right now I'm on the sidelines. Price action on the weekly timeframe is testing the bottom border of the yellow box (area of structure), and if/when it breaks to the downside, I'll be a buyer. Same with the upper border of the yellow box; if/when it breaks to the upside, and confirms, then I'll look to buying. Basically, my bearish play is a DCA: if/when it breaks below 30K, I'll start adding 5$/day, regardless of price. If/when it drops below 28,700, I'll be adding 10$/day, regardless of price. In addition, if price goes into the green box, I'll be adding large buy orders, with say, 10-30% of my capital, on different orders scaling down. I'll never use all my capital for trades, and always leave plenty for when "blood is running in the streets". Long term (years out) I'm bullish , and the monthly chart seems to be printing a higher low. Medium term (weeks to months) I'm bearish, and the weekly shows a lower high and lower low. I will wait patiently for better prices. Either way though, I'm prepared to enter trades whichever direction the market goes. I hope you enjoyed this educational only post. This is not financial advice in any way, shape, or form. Always consider risk management as 1st priority.