I am currently in all cash at the moment and watching BTC carefully. I plan on splitting up my cash into 2 potential buys in the short term based off fib lines.
My first buy will be at the .5 fib at ~$8,850 and see if we can break the 9,600 barrier to deploy the remaining 50% cash.
If we break the .5 fib line we will test the .38 fib line at ~$8,200 where I will deploy the remaining 50% cash. I am hoping for a bounce off the .38 line to and to test the downward trend line at $9,000. If it heads any lower I will be looking to put my BTC into undervalued ALTs for the long term. Either way I believe we are headed much higher long term breaking $20k barrier in the second half of the year.
Tell me what you think of this plan and please upvote :)
