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Bears have been unforgiving, deflating investors and shaking to the core the real belief of crypto and Bitcoin. Even with these marauding bears, performance has been “stellar” outperforming other asset prices. Bitcoin performance has been better off than FANG stocks. Google, for example, is up 35 percent from Jan 2017 while Facebook is up 25 percent during the same period.

Meanwhile, in spite of the deleterious loss of 2018, Bitcoin is up 250 percent from early 2017 after surging from around $965 to spot prices of $3,300. Still, the fall is a whole 83 percent from the $20,000 peaks of 2017. Ironically, during this parabolic rise, investors were “begging” for prices to drop so they can enter at fair prices.

Read: Expert Tone Vays Says Bitcoin’s Next Bull Market Could Bring A Lot More Spending Of Bitcoin

Well, prices did heed to their demand and it is for this reason that Weiss Rating is recommending investors to get in at spot prices. Of course, investors are hesitant but this is coming from an independent US research firm based in the US that has been in the investment game for more than 46 years.

Also Read: Bitcoin Millionaire, Wong Ching Kit Throws Millions In HKD From Rooftop As Act Of Teaching

Weiss often rates a variety of liquid assets—in the crypto and traditional financial world—providing further insight for traders and investors. Now, after sidelining Bitcoin for months, the alarms have been sounded but investors are obviously wary. In a tweet, Weiss said Bitcoin is here to stay and at spot prices, it is the best time to invest on the asset.

Still, the path of least resistance is southwards for most assets and BTC is no exception. Losses have tapered off in recent days but it is still down six percent in the last week but encouragingly up 1.8 percent in the last day at the time of press.

While this is obviously boosting more so for investors and traders who need a tinge of positivity after absorbing wild shocks for the better part of the year, our trade conditions as laid out in previous BTC/USD trade plans are yet to be met.

Then we insisted that for bulls to be in charge then we need to see strong gains above the $3,500-700 resistance zone. This might open doors for $4,500 or higher by the end of the year. If not and BTC drop below $3,000 we might see further panic selling driving prices towards $2,500 and even $1,500 by Q1 2019.

In this time frame, BTC/USD prices are stable and consolidating within a $600 range marked by last week’s lows at around $3,200 and Dec 8 highs of around $3,800.

If anything, this is positive more so if this accumulation leads to gains above $3,700 ushering in the first wave of buyers as mentioned above. But first, encouraging expansions above $3,400 could jolt aggressive traders into action. Their first targets will be $3,700-800 resistance.

However, if this ends up being a distribution and there are drops below Dec 15 lows at $3,200 then chances are bears will blast below $3,000 causing panic sells. That is not what we want to see because it will increase drawdown levels and this will have adverse effects on the network’s hash rate as miners bail off.

Our ideal BTC/USD trade plan will be as follows:

All Charts Courtesy of Trading View

Disclaimer: Views and opinions expressed are those of the author and aren’t investment advice. Trading of any form involves risk and so do your due diligence before making a trading decision.

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