Bitcoin Buy Weekly Strategy

Looking at Bitcoin on the weekly chart shows strong support at the 200-week moving average, we have also seen prices this week hold that 23K level, for the long-term buy and hold investor this looks like a good time to employ the Buy Weekly Strategy

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Hi @chesterjohn
Sorry - I forgot most traders are short term. Our gold / silver strategy is very long term - like 30 years +. I look at 5 year trends on the subject of how much gold and how much silver to hold. At a GSR of 50, we should, in theory be 50% silver, 50% gold, at GSR = 30, 100% gold and at GSR = 90, 100% silver. I was temporarily overexcited about crypto when silver nearly hit 120:1 of gold (really cheap silver) and didn’t participate in that opportunity - but it is now headed back that way.

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Ah who among us has not seen beautiful moves like this :joy:

Love that you’re still staying positive! And also glad the cancer scare is now out the window and that you’re back to working ridiculous long hours :joy:

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There seems to be a correlation between Bitcoin and the US stock market,

I expect stocks to hit new lows in August and September so we could still see lower prices in Bitcoin

1a

we have a stepping pattern with a bias to the upside, long-term trend is still down and no technical signal that a bottom has been put in. A break down from this channel and hold at June’s low for a double bottom would be a good technical indication of a bottom

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something is happening

How is everyone handling this Bitcoin bear market, have you given up, or expect a turn a round soon

Hiya @Dennis3450

Thanks. Kindly I have large assets in crypto. Kindly how may I make money with them please?

Kindly may BTC, ETH, and XMR fall even lower and reduce my crypto assets value, please. Kindly shall I take my crypto asset out and convert them to fiats, please?

Tnx and best of luck


I’m feeding stray birds, yeay!

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Hiya,

The BTC/USD reached 21256~21400 USD. Is this start of an upward movement please?

Tnx and best of luck :angel:

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Gold is also on the rise, I am holding both and not selling

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Bitcoin is trying to hold its latest breakout, Up 50% so far this year and that bullish cross of the 50 dma over the 200 is telling us 2023 might be a good year for Bitcoin

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We have resistance at 25K, maybe we need a small pullback before next breakout

this move is not nearly so impressive when viewed from the weekly

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Has the Bitcoin bear market really ended?

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This week’s weekly candle is looking pretty impressive, and if you had been buying a little every week, all your weekly buys going back to June of last year would now be profitable. Buy when everyone else is selling works most of the time

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Breakout above 30K , Bitcoin is not dead

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Still learning TA - last time it broke below 30k was with a gap - this time closed that gap - with a gap.

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After US markets opened, the bulls managed to reach 30K. If you look at higher timeframes (1W), then it would be logical to continue the rally to 32500 before the correction. Everything would be so easy if not for the upcoming inflation data. At the moment market went sideways, small corrective movements also indicate partial profit taking on longs on the eve of the event.

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The Bitcoin Roller Coaster continues

It is most fun if you don’t hold on to the hand rail and hold your hands above your head and scream on the way down

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We are back at the 30K mark, is this a double top, or just the beginning of a multi-year run

Hi Dennis3450.
I wish to congratulate you and I would vote this thread on BabyPips as definitely one of the top 10, if not the best. This post has now run for over three years, and should be testament to tens of thousands of BabyPips users that the proof of the pudding is in the eating. You are one of the smartest folks I know in investing, and it is because you set realistic goals, and even when your results were smashing it late 2021, you still stuck to your original goal and consistently undervalued your holdings.

A big well done to you. This gem should be mandatory reading for all newbies. You can’t get more simple than a buy weekly strategy, regardless of the underlying investment type. And crypto is absolutely the best one to do it with.

:100: :100: :100:

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