Earlier in the week I posted about Bitcoin and rooted for it to go down MOAR.  Well, it certainly did.

I don't know that my buys were the most efficient but buying I did.  Grabbed a chunk at 87,300 and then again at 79,700.  Obviously the last buy has worked out nice so far, but time will tell.

I do like that price poked through the 200 day moving average (yellow line) and rallied to close above it on Friday.  Things are still a bit oversold on the daily chart and I'm keeping my eye on the 10 day moving average (blue line coming down toward price) as  use that as a short-term overbought/oversold indicator.  It will be interesting to see if price turns back down when those meet or makes another leg up.

### More downside??
 https://img.inleo.io/DQmYJNqE7G3rpFRoABkQRRozMv24a1dbTsaKGJxth3697MS/image.png 

I'm honestly undecided on whether that was the bottom or not.  There are plenty of scenarios that have price touching into the 76s and even testing 72k or lower.

I do like that the drop has already been roughly 25% top to this recent bottom though.  That is in range of a pretty standard dump off for bitcoin, though 30% would have made me more comfortable.


Posted Using [INLEO](https://inleo.io/@scaredycatguide/bitcoin-buying-the-dip-bhq)