Bitcoin, is now a Good Price to BUY?I have a friend who asked this question today as he is looking to hold some bitcoin(not through trading) as promised here you go, buddy.
I will be observing closely on this movement on a daily chart, the rationale behind this is there is news of bitcoin going through splitting in May 2020 and that supposedly is good for bitcoin.
The market in most cases will not price in till 3months before the scheduled event. Hence, a good answer is, buddy I'll look at it in Feb 2020.
There's also another thought of buying bitcoin and hold it when it reaches a new low, so the question should be which are the low I should be looking at?
7603.92 based on the daily chart is the next support,what I will be checking is when the market reached 7603.92 I will see if the candle break and close below the low if it does, I will wait for 6147.61 for a buying opportunity(holding physical bitcoin, you know what I mean ;))
In short, don't buy now, these are the 2 prices I'm looking at, pay me enough and I will help you to strategist your entry and buying allocation =D
