Should I purchase BTC right now?

[ddmandy]

I've been keeping an eye on the market trends lately and doing some technical analysis on the pricing trend of Bitcoin. I think the price will continue to grow higher and eventually be over 60k—feel free to share your thoughts!

As the graph shows, there’s a clear upward trend in the price Bitcoin over the past two years and there’s higher lows and higher highs, indicating the potential for future growth. More, I’ve seen support and resistance level in the beginning of 2024 and currently the price appears to have corrected and found support before continuing its upward trajectory. I’ve been trading using BitMart API because I feel it has a pretty advanced trading interface and it offered multiple promotion activities in the past, but I’m open to hear about other platforms you guys are using!

 

[Vasey]

What will be the next move for Bitcoin—$100,000 or $50k?

 

[Iconoclast1978]

No one can answer that question with any certainty whatsoever. BTC is approaching it's halving cycle so at the moment there is a buzz about it as historically it increases in value around this time. That said, BTC is high as hell right now and it's never wise to buy until it dips. There is a saying in this industry "Buy the rumour, sell the news" it basically means that prices tend to rocket on forecasts and then even when the forecast comes true and is positive they can often tumble.

There is major support at 40k. I personally will be waiting until then. If it sky rockets from now, which is obv possible then so be it. I'll miss out.

 

[trade2bpro]

The best is waiting for BTC halving and several months for it to go back to $30K to buy. I consider this is not a good entry despite of the fact that BTC can go up to 100k this year.