The bottom isn't in yet. But DCA should be in style right now.
I started posted about this new the first sell off that created the top. I still have some notes here that have played out. The shoulder turned out a lot smaller than I thought it would but its there. at $28-30k we have good support and it actually would be good to bounce there and hold to set up for the next leg making this a clear bottom. There are a few patterns to consider here. The head and shoulders with a double top is concerning.
This doesn't mean it's crypto winter or that it ever looks like that again. This is psychology, volume, and market cap driven. It doesn't really take much to move these markets but Bitcoin is the most liquid so keeping an eye on the top 5-8 gives you a more realistic idea of what is going on. Here is the deal, if $30k is that bottom then now is the time to start that DCA. So what if it drops 10-15% from here, what if it doesn't? I know it's hard for people when they don't have much to play with and they are trying to get the best deal because the gains are bigger. But you are likely to miss the opportunity if you are wrong. If it falls to $12k then that is the time you know to borrow money from grandma if needed to buy in. Now is not that time.
This doesn't mean it's crypto winter or that it ever looks like that again. This is psychology, volume, and market cap driven. It doesn't really take much to move these markets but Bitcoin is the most liquid so keeping an eye on the top 5-8 gives you a more realistic idea of what is going on. Here is the deal, if $30k is that bottom then now is the time to start that DCA. So what if it drops 10-15% from here, what if it doesn't? I know it's hard for people when they don't have much to play with and they are trying to get the best deal because the gains are bigger. But you are likely to miss the opportunity if you are wrong. If it falls to $12k then that is the time you know to borrow money from grandma if needed to buy in. Now is not that time.