Categories: Bitcoin

When should you plan to sell bitcoin?

While a market correction can be worrying for some investors, it can also be viewed as a good buying opportunity. With the recent slump in the market, prices have fallen significantly. Bitcoin, for example, is trading around $ 34,781 at press time, down nearly 50% from its all-time high of around $ 64,000 in April.

Some investors are waiting for Bitcoin to drop to what they think is a reasonable price to buy the dip. However, the timing of the purchase depends on the trading plan. Trader and economist Alex Kruger said:

“BTC at USD 60,000: rise to USD 100,000, strong buyers, time to buy.

BTC at $ 50,000: the downside I want to buy more

BTC at $ 40,000: Once in a lifetime opportunity to buy more

BTC at $ 30,000: Just sell everything, buy back at a lower price or if an uptrend above $ 42,000 is confirmed. “

Continued in the same thread, bro Ask a question:

“Is this the trading plan that you would create in advance for a no-fault medium to long-term position if the underlying thesis remained relatively unchanged?”

Regarding strategy formulation, analyst Kaleo given His plan of action is to sell bitcoin when it reaches a certain level.

“Basically, my plan is for Uber to keep increasing until Bitcoin exceeds $ 150,000. I’ll start getting out of there and moving on to Uber discounts when it’s back below $ 150,000. “

Besides, you have suspect Bitcoin will rise around 532% (cap) from its current value by the end of the year.

“I still think BTC will be at the top with a good price of around $ 185,000-215,000, but my goal is not the top.”

He said he will start scaling if Bitcoin falls below the above price target.

Kaleo has also taken a stance on the largest cryptocurrency. Regardless of Bitcoin’s sideways movement, he remains optimistic about his future, which is also shown in the graphic below.

Bitcoin and Technology (NASDAQ 100) | Source: Kaleo

The analyst added:

“Pay attention to the two red boxes. Bitcoin will catch up and fill the gap on the growth we have seen in the tech sector and if it is successful it will be very quick. “

Observing the Fear and Greed Index (currently at 28/100) shows that fear is the predominant emotion at the time of writing. Kaleo speaks about the fear that pervades the investor world comment:

“A few months ago people said they would sell their house, use all of their savings and children as collateral, to buy more bitcoin under $ 40,000 if they got the chance. These people were given the opportunity, but today they refuse to touch BTC. “

On the flip side, Bitcoin user growth has hit an all-time high for 2021, according to Glassnode data. Traders say this is definitely a sign of a bear market.

Bitcoin Company Net Growth (30-Day MA) | Source: Willy Woo

Minh Anh

According to AMBCrypto

Follow the Youtube Channel | Subscribe to telegram channel | Follow the Facebook page

CoinX

Recent Posts

Pepeto’s $600K Presale Highlights Vision for Supporting Memecoins Ahead of 2025

London, united kingdom, 22nd November 2024, Chainwire

2 hours ago

Robinhood Exec Dan Gallagher Declines SEC Leadership Role

Robinhood Exec Dan Gallagher declined consideration to lead the SEC, affirming his commitment to Robinhood…

2 hours ago

Best Cryptos to Buy in November 2024: What Sets Qubetics Apart from Fantom and Immutable X?

Discover why Qubetics, Fantom, and Immutable X are the best cryptos to buy in November…

3 hours ago

Franklin Templeton Digital Assets and Sui Now Join Hands to Strengthen DeFi Strategy

Sui Foundation partners with Franklin Templeton Digital Assets to enhance DeFi solutions on the blockchain.

3 hours ago

Get Insights on BlockDAG’s $136M Presale Success Revealed in Recent AMA—BTC Soars to $99K, Avalanche Trading Volume Surges

See how Bitcoin confronts $99K resistance, Avalanche enjoys a 23% rise, & BDAG achieves a…

3 hours ago

This website uses cookies.