thecryptobasic.com
Top market analyst Ali Martinez has revealed the quantity of Bitcoin (BTC) to buy at each price level in his newly unveiled Dollar Cost Averaging (DCA) strategy.
With the price of Bitcoin yet to find defined support amid the ongoing correction, some investors seek ways to leverage the price discount. However, some market experts advocate the dollar cost-averaging approach for those looking to augment their holdings.
This system involves buying Bitcoin with a smaller yet fixed dollar regularly, at different price levels. With DCA, traders “apply value investing principles to regular investment.”
The Martinez Strategy
As outlined by the Ali Martinez, investors can set aside 0.5 BTC to buy into the coin at $65,130, $64,130, and $63,130. These three price levels have already been cleared amid the price drop. He advocated investing 0.5 BTC when the coin price drops to $62,130.
At the time of writing, Bitcoin is down 2.3% in 24 hours to $62,789.64. Per Martinez’s strategy, investors can set aside O.65 BTC to buy at $61,130, $60,130, $59,130 and $58,130 respectively. The reserved capital in the DCA strategy jumped to 0.8 BTC should the price fall further to $57,130, $56,130, $55,130, and $54,130.
With many speculations on where the price of Bitcoin will form support, the market analyst highlighted that investing 0.95 BTC will help solidify the DCA strategy should the price fall below the $54,130 level. The four price targets with the 0.95 BTC include $53,130, $52,130, $51,130, and $50,130.
DCA strategy:
Buy 0.5 BTC at each price point:
– $65,130 ✅
– $64,130 ✅
– $63,130✅
– and $62,130.Buy 0.65 BTC at each price point:
– $61,130
– $60,130
– $59,130
– and $58,130.Buy 0.8 BTC at each price point:
– $57,130
– $56,130
– $55,130
– and $54,130.Buy 0.95… https://t.co/pRdKoeeUvn
— Ali (@ali_charts) March 19, 2024
Martinez’s Support Levels To Watch
Commenting on the DCA strategy, an investor asked what support points Martinez believes will send the price of Bitcoin back to the $66,000 level. In response, he referenced an earlier post where he labeled $61,100, $56,685, and $51,530 as the major levels to watch.
Bitcoin soared to an All-Time High (ATH) above $72,000 over the past week. As many market experts highlighted, this pullback is healthy and may help the price reverse its growth course. With the DCA strategy from Martinez, traders may choose to capitalize on the price slip, which might pay off in the long term.