Bitcoin has been pumping relentlessly in almost entire August 2021. We have been observing green bars, one after another, one week after another. September is usually not a good for bitcoin and altcoins, if we take last four year history.
Healthy correction is required for proper uptrend so what are the levels to look for for buying back bitcoin and other altcoins?
We took a look at some of great traders on twitter and they all seem to be pointing at $44000 being a key level for bitcoin to bounce back. Another strong level where many buyers may get interested in buying back bitcoin would be $40000. Usually, pro traders are the ones to buy assets after crashing. They buy when there is maximum fear in market.
I would be looking to buy back my #btc at $44000 and then, some at $40000.
We might just see $100K this year. pic.twitter.com/Ud703DSWH2
— SINGH CAPITAL ⟠ ₿ (@BTCSINGH) August 30, 2021
So, placing limit buy orders between $44000 and $40000 is also a great idea.
Why no charts for the last weeks?
This is just chopped crab. Imo Eth makes a HL and breaks out or breaks out from here. Either way 6k coming imo soon enough until then NFT Summer pic.twitter.com/ev8Ow5VGQB
— 🧸🔫🐧Pentoshi Wont DM You (@Pentosh1) August 30, 2021
There is also chance of having a wick all the way down to $38000. These are often called scam wicks by traders as they result of panic selling.