Here Is Bitcoin’s Ideal Buying Price (According to One Analyst)

Here Is Bitcoin’s Ideal Buying Price (According to One Analyst)
фото показано с : beincrypto.com

2019-11-2 08:53

On November 1, it was announced that the first regulated Bitcoin fund that has been available in North American exchanges will also be released in Canada.

3iQ Corp, a Canada based company received confirmation from the Ontario Securities Commission (OSC) in order to list ‘The Bitcoin Fund’ on Canada’s stock exchange. This is expected to be done by the end of 2019.

While the news has been positive, the Bitcoin price movement has been confusing, to say the least. The price has been gradually decreasing since October 25’s rapid upward move.

Cryptocurrency trader @davethewave speculated that the ideal buying price for Bitcoin is at $6700. According to our analysis, the ideal buying price may be in the low $7000s or high $6000s.

Is the IDEAL buying price of 6.7K still a real possibility?

Yes, but in practical terms I think you'd be buy in tranches/ average in once price hits the 'buy zone'.

Sailing close to the wind now…. pic.twitter.com/mIu0yFfAeM

— dave the wave (@davthewave) November 1, 2019

Additionally, he suggested that averaging in would be ideal — but what does that mean? Let’s analyze both the ideal price and the concept of averaging in.

Pitchfork & Volume

@davthewave used a pitchfork to create a descending channel and determine future price movement.

The ideal buy zone falls within the lower portion of the channel (blue). Since it is descending, the ideal buy price is decreasing as time goes by.

When using the Volume profile indicator, we can see that the strongest buy area is found near $6500 — coinciding well with the buy zone given by the channel.

A decrease below this level could trigger a rapid Bitcoin price decrease.

Long-Term Bitcoin Price Analysis

Using a logarithmic chart and curved trendlines, we can see that the support line is currently at $6300 and is slowly moving upward. Therefore, we agree that the ideal buying price may be around $6700.

The concept of averaging-in means placing several orders around an average price. One example of the $6700 price would mean buying with 1/3 of the total amount of your order at $6900, 1/3 at $6700 and 1/3 at $6500.

Disclaimer: This article is not trading advice and should not be construed as such. Always consult a trained financial professional before investing in cryptocurrencies, as the market is particularly volatile.

Images courtesy of Twitter, TradingView.

Did you know you can trade sign-up to trade Bitcoin and many leading altcoins with a multiplier of up to 100x on a safe and secure exchange with the lowest fees — with only an email address? Well, now you do! Click here to get started on StormGain!

The post Here Is Bitcoin’s Ideal Buying Price (According to One Analyst) appeared first on BeInCrypto.

Similar to Notcoin - TapSwap on Solana Airdrops In 2024

origin »

Canada eCoin (CDN) на Currencies.ru

$ 0.0037441 (+0.46%)
Объем 24H $1
Изменеия 24h: 24.14 %, 7d: 30.10 %
Cегодня L: $0.0030161 - H: $0.003747
Капитализация $364.735k Rank 99999
Доступно / Всего 97.416m CDN

bitcoin canada fund price buying ideal one

Источник: beincrypto.com

bitcoin canada → Результатов: 126


5 Countries Team up to Combat Tax Fraud From Cryptocurrencies

A new taskforce involving five countries’ taxation regulators was announced on Monday, July 5.  The announcement by the Inland Revenue Service (USA) will aim to increase cooperation between the United States of America, the Netherlands, Australia, Canada, and the United Kingdom in order to combat crimes committed using cryptocurrencies, specifically tax evasion.

2018-7-9 14:59


Canadian Crypto Owners Love It For The Technology, Not The Speculation

An official survey by the Ontario Securities Commission (OSC) has confirmed Canada’s technology city has a deep interest in the technology behind cryptocurrency, than its financial outcomes. The financial trading regulatory body in Ontario had asked over 2500 Ontarians to provide input on their interpretation of the popular virtual currencies such as bitcoin.

2018-7-5 21:36


Kraken Says Bloomberg is Tweaking Bitcoin’s Futures

A recent article posted by Bloomberg extensively highlights the anomaly in Kraken’s trading platform, which aligns with multiple reviews expressed by other traders. Kraken, the US-based cryptocurrency exchange operating in Canada has  responded to the the suggestions stating that Tether, one of the most widely used digital coin is consistently defying normal trading movement.

2018-7-3 21:43


Фото:

Proposed Regulations Could Cause Major Shifts in Canadian Crypto Businesses

Canada’s government has released draft regulations for “virtual currencies” with a consultation period of 90 days, saying that proposed regulatory changes could mean a loss of $60 million over 10 years for businesses that deal in cryptocurrencies but will improve Canada’s international reputation and make it easier for crypto businesses to deal overseas.

2018-6-13 20:24


Canadian Exchanges Reports Transactions Over $10k per Proposed Regulations

Once the proposed regulations are implemented, every transaction above $10,000 CAD will have to be reported. Also Read: Bitcoin in Brief Monday: Korean Exchange Hack Takes a Toll on Crypto Markets Crypto Exchanges to Report as MSBs The Department of Finance Canada has issued a Regulatory Impact Analysis Statement regarding proposed amendments to the country’s AML/ATF

2018-6-12 02:07


дальше еще 77 новостей →

Партнеры Currencies.ru

Реклама на Currencies.ru

Самое свежее на Currencies.ru

Is Arbitrum's latest record good news for ARB's price? Metrics say...

Arbitrum active addresses registered figures of 900,000 for consecutive days ARB's market trend has continued to fall though Arbitrum is in the news today after it seemed to solidify its posThe post Is Arbitrum's latest record good news for ARB's price? Metrics say... appeared first on AMBCrypto.

XRP whales add $55 million, but the price falls again - What's happening?

XRP whales have increased their accumulation of the token over the last 14 days However, this failed to affect the altcoin's price positively XRP's price has maintained a downtrend on the chThe post XRP whales add $55 million, but the price falls again - What's happening? appeared first on AMBCrypto.

Countdown to Notcoin's Binance listing - Will NOT and TON profit from it?

78% of NOT’s total supply will be allocated to miners  TON turned bearish as its price dropped by more than 3.5% The wait for the much-hyped Notcoin [NOT] launch is about to end soon. As The post Countdown to Notcoin's Binance listing - Will NOT and TON profit from it? appeared first on AMBCrypto.

Ethereum's latest buy signal - Are ETH whales buying yet?

Ethereum’s exchange reserves hiked over the past week Most metrics suggested that ETH might continue to rally  The crypto-market has turned bullish over the last 36 hours, allowing most cThe post Ethereum's latest buy signal - Are ETH whales buying yet? appeared first on AMBCrypto.

Bitcoin Price Surges On Positive CPI Numbers

Bitcoin has surged above $66,000 briefly today as global markets jumped following April’s Consumer Price Index , which came in lower than expected at 0.3%, according to data from the U.S. Bureau of Labor Statistics

Arcblock crypto jumps 64% in one month: Is $4.12 next?

Arcblock crypto’s price has increased by 64% in the last 30 days. Bullish pressure is significant in the token’s market. ABT, the native token of Arcblock crypto, a platform designed to The post Arcblock crypto jumps 64% in one month: Is $4.12 next? appeared first on AMBCrypto.