Renowned market analyst Ali Martinez has unveiled his Dollar Cost Averaging (DCA) strategy, providing insights into the quantity of Bitcoin (BTC) to purchase at various price levels. As the price of Bitcoin remains uncertain amidst a correction, some investors are seeking ways to take advantage of the discounted prices. Martinez suggests that the DCA approach is a viable option for those looking to increase their holdings.
The DCA strategy involves regularly purchasing Bitcoin with a fixed dollar amount at different price levels, applying value investing principles to consistent investments. Martinez recommends setting aside 0.5 BTC to buy at price levels of $65,130, $64,130, and $63,130, all of which have already been cleared during the recent price drop. Furthermore, he advises investing 0.5 BTC when the price of Bitcoin drops to $62,130.
At the time of writing, Bitcoin has experienced a 2.3% decline in the past 24 hours, reaching $62,789.64. In accordance with Martinez’s strategy, investors can allocate 0.65 BTC to purchase at price levels of $61,130, $60,130, $59,130, and $58,130 respectively. If the price continues to fall to $57,130, $56,130, $55,130, and $54,130, the recommended capital reserved in the DCA strategy increases to 0.8 BTC.
Given the uncertainty surrounding Bitcoin’s support levels, Martinez suggests that investing 0.95 BTC will strengthen the DCA strategy if the price falls below $54,130. The four identified price targets with a 0.95 BTC investment include $53,130, $52,130, $51,130, and $50,130.
When asked about the support points that Martinez believes will propel the price of Bitcoin back to $66,000, he refers to a previous post in which he identifies $61,100, $56,685, and $51,530 as the key levels to watch.
Bitcoin recently reached an all-time high above $72,000, and market experts believe that this pullback is healthy and may contribute to a reversal in the price growth. By following Martinez’s DCA strategy, traders have the opportunity to capitalize on the price decline, potentially yielding long-term benefits.
It is important to note that this content is informational and should not be considered as financial advice. The opinions expressed in this article are solely those of the author and do not reflect the views of The Crypto Basic. Readers are advised to conduct thorough research before making any investment decisions, as The Crypto Basic is not liable for any financial losses incurred.
