Bitcoin has been on the red shortly after it's all time high in November. Even though many people on social media showed the big dump of bitcoin as "the end of it all" I would tell you other wise. Today I will tell you when to set your buy limits to buy perfectly at the bottom and secure the bag.
Bitcoin on the weekly chart has broken the upwards trend line so it is safe to say the bull market is over but I can guarantee you another one will be coming in mid January to early February. The reason I say there will be a bull market soon is because of how close bitcoin is to a major support area and a lot of buy limit orders. Bitcoin is around 47k right now and the major support lies at around 40k where it rejected to the upside at the beginning of October. Even though there is a support on 40k weekly chart that doesn't mean it won't go lower to 39.5k or a rejection wick on the weekly charts. The lots of buy orders are on the high demand zone of 39.2k to 39.6k which will make the price go back up to the 40k's and continue upwards past the all time high before history repeats itself. Now if I were you I would set a buy order limit at 39.5k to 40k with a risk of like 3% of your portfolio and a decent leverage. Hope all goes well and have an amazing time trading.
