Buying Bitcoin in the current zone may become one of the most attractive long-term entry points in recent years, according to cryptocurrency analyst Ali Charts. In his assessment, the Bitcoin chart has once again approached a level that in previous cycles often coincided with the start of major accumulation.
Why Attention Is Focused on the 200-Week Moving Average
The analyst names the simple 200-week moving average as the key indicator. Over the past decade, this indicator has repeatedly helped determine Bitcoin’s cyclical lows: when the price touched this line or fell below it, the market often entered a macro accumulation phase.
This pattern has already appeared in several important periods. In August 2015, Bitcoin tested the 200-week moving average, after which a powerful bull cycle began with growth of more than 8,500%. In December 2018, a retest of this level ended with a rebound of 267%.
During the liquidity crisis in March 2020, Bitcoin also confirmed support around the 200-week moving average and then rose by 1,125%. In June 2022, the price first fell below this indicator and remained under it until December 2022, but after returning above the level, it added about 680%.
Current Accumulation Zone
Currently, the 200-week moving average for Bitcoin is around $63,500. At the same time, the asset itself is trading at about $60,000, which is slightly below the important technical threshold.
From the perspective of the past 10 years, this area looks like a basic accumulation zone for long-term investors. For those considering cryptocurrency as a multi-year position, not only the entry price but also discipline is important. To avoid buying on emotion during sharp market moves, it is worth preparing in advance:
- create an account on a trading platform;
- choose a method to fund your account;
- check the possibility of a bank transaction;
- check the possibility of payment by debit or credit card;
- check the possibility of payment via PayPal;
- check the possibility of payment via Apple Pay.
How to Buy Bitcoin for Beginners
As noted above, 1 Bitcoin now costs about $60,000, but before making a transaction, it is better to check the rate on the chosen trading platform, exchange, or exchanger: the price changes throughout the day.
You can buy Bitcoin in several ways:
- through a crypto exchange or trading platform;
- through a P2P transaction with another user;
- through an online exchanger;
- through a Bitcoin ATM, if available in your country.
For residents of the US and other countries, the basic procedure is similar:
- choose a platform that operates in your jurisdiction;
- create an account and complete identity verification if required;
- fund your account by bank transfer, credit or debit card, PayPal, or Apple Pay if this method is available;
- specify the purchase amount and check the final price with fees;
- confirm the transaction and decide where to store the purchased Bitcoin.
Payment methods and limits may vary by country: in some places, bank cards and PayPal are available, while in others, it is more convenient to use a transfer, P2P, or exchanger.
It is not necessary to buy a whole Bitcoin. At a price of about $60,000, buying for $100 will give you about 0.0017 BTC excluding fees, because Bitcoin can be divided into fractional parts.
Risks, Fees, and Storing Bitcoin
Before buying, it is important to consider volatility: the price of Bitcoin can change sharply, and a scenario of falling to $54,000 or $40,000 cannot be completely ruled out.
It is worth choosing a reliable platform based on several criteria:
- clear fees for buying, funding, and withdrawal;
- transparent payment and withdrawal methods;
- account protection, such as two-factor authentication;
- the platform’s reputation and user support.
Fees usually consist of the exchange commission for the transaction, the payment provider’s fee for card, bank transaction, PayPal, or Apple Pay, as well as the spread—the difference between the purchase price and the market price.
After purchase, Bitcoin can be stored in different ways:
- hot wallet—connected to the internet and convenient for frequent transactions;
- cold wallet—stores keys offline and is better suited for long-term storage;
- hardware wallet—a separate device for storing keys;
- software wallet—an app on your smartphone or computer.
Taxes depend on your country of residence: buying, selling, or exchanging Bitcoin may create tax obligations, so it is better to check the conditions in advance.
Which Levels to Watch
At the same time, a scenario with further decline cannot be completely ruled out. Bitcoin may drop to $54,000 or even $40,000, so the analyst considers a more balanced approach to be gradually building a position in the range from $58,000 to $40,000.
The main level to watch remains the same—$63,500. If Bitcoin returns above the 200-week moving average on higher timeframes and establishes it as macro support, this may become a signal that in previous cycles often appeared at the early stage of a new bull market.
