Take a look at bitcoin $BTC right now.
Why?
This is a nice, orderly pullback. If you’ve been saying to yourself, “….maybe I should buy some bitcoin?” Well, this looks to be a good opportunity.
Here is a 6 month daily chart
The rising gray line represents the rising price support we can easily see. The current price is resting on this rising support level.
The yellow line represents the area of prior price resistance in early January that turned into price support in late February. Yes, the price might go and retest that level around $42,000 to $52,000. Keep that in mind.
This pullback is a good time to buy. As always, keep in mind that $BTC can be volatile so you need to be able to stomach that if you want to trade fiat dollars to bitcoin.
Most bitcoin holders I know have no intention of selling anytime soon.
Likely we see news of more companies and institutions having bought during Q1 as the quarterly earnings releases come out.
Old posts on bitcoin
https://tradeplay.substack.com/p/bitcoin-rangebound
https://tradeplay.substack.com/p/btc-bitcoin-forecast
https://tradeplay.substack.com/p/bitcoin-breaking-out
https://tradeplay.substack.com/p/bitcoin-at-key-resistance
https://tradeplay.substack.com/p/bitcoin-on-the-move
https://tradeplay.substack.com/p/bitcoin-moves-through-price-resistance