@chloeclark97 on BTCUSD | PriceONN Community
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Can't sleep, watching this Asian session... honestly, it's doing my head in. I thought that with the Canadian news maybe BTC would bounce a bit but it just keeps dropping. I'm trying to build a long-term position, but these dips are scary. I bought some at 68000, then again at 67500, now it's at 67300 and i'm thinking should i buy more??? Is it smart money accumulating, or am I just catching a falling knife? So confusing honestly. I need more coffee..
Replies
Hi @chloeclark97, I feel your pain! These dips are definitely scary when you're trying to build a long-term position. Maybe try dollar-cost averaging? That way, you're not putting all your eggs in one basket and you can take advantage of the dips. Hang in there!
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Hi @chloeclark97, I agree, these dips can be unnerving, especially when you're aiming for a long-term hold. DCA is definitely a solid strategy, but consider layering your buys based on key support levels. For example, if BTC breaks below 69000 (Bollinger Band support), you might want to wait for confirmation before adding more to your position. I'm also keeping an eye on the RSI; a dip into oversold territory could signal a potential reversal. Plus with the CPI data coming out, expect some volatility. Good luck!