We are Weeks if not Days away from the Golden Cross, but why does this matter? Investors in this technology like me who really understand what it is and why it is important do not need signals like this to get us excited, but for all of the investors out there who are simply looking at this based on the charts, this is a huge signal for getting in. When seasoned chart investors see a Golden Cross, they know that is when you want to get in, things are moving up and now my friends, is the time! I don't think the price action is going to spike to $20,000.00 tomorrow or anything, but we are on the climb. For those of you who have not seen or experienced this here is how it usually goes. Bitcoin's price will bounce around where it is for a while fluctuating $300-600 every few days, then suddenly it will rise up $1000.00 and bounce around this area for a while. On occasion it may even retrace the $1000.00 gain then make it back up in a few weeks, but at the end of the day when Bitcoin is moving up, it keeps moving up and when it is moving down it does so until it hits its new bottom. Bitcoin started at $1000 in 2017, went up to $20,000, that whole run up from bottom to top it had many ups and downs but ultimately until it made the top $20,000 it kept going up. Then Bitcoin dipped from 20k down to 3k, it had several ups and downs in the process but kept going down until it hit bottom. 2017-2018 was not the first time, Bitcoin has followed this pattern since its inception. Bitcoin bottomed at $3k and now Bitcoin is on the way up, it will follow this past pattern once again and while there will be several ups and downs, it will not stop moving up until it hits its new top. No one knows what that top will be, but if it follows known pattern it will be well past its last high of $20k, I think the top can be anywhere between 35 and 50k. My plan is to watch the RSI. When Bitcoin is over sold, buy, when it is over bought sell. I will keep doing this over and over until bitcoin hits 35k, then I will cash out half of my Bitcoin, take a teather position to reinvest once Bitcoin hits bottom again. With the remaining half in Bitcoin I will sell off bit by bit as the price continues to increase, if we hit 50k I will sell whatever I have left. The biggest part of investing is to have the stomach to see your losses, but also not get too greedy to take your gains. Never make all or nothing moves but do your buying and selling in increments.
I am not a financial advisory and this is not financial advice, invest at your own risk.
