That would be awesome if we could get to that level. Things are for sure very bearish. I would definitely be chomping at the bit at that price level for BTC. I wonder where the capital is going though If they selling bitcoin.
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It's good you have that attitude. Most people will be panic selling at $3000!
im seriously buzzing when i can get things cheaper. Good luck with the trading!
Am 163% up with that long trade so far. In under a day. Not too bad really ;) Have sold 50% of my trade now and locked it in as actual profit. The rest can ride. Hopefully up! Either way, it doesn't matter now I am hedged with profit taken in both directions.
Where does the money go? Round and round in circles. Shorts & longs.
Great work Sam, I haven't pulled the trigger yet, but how strong is this resistance off the lows we just bounced off of?
I have a feeling once the marke sentiment turns, BTC will spring much higher in a short time initially very quickly.
I think you are right. We are due a relief rally and you know how the market likes to trick people. Too many people selling right now. Need to get everyone bullish again before the next leg down. This is easy to see in the order flow:
See all that red at the bottom during the last 24h, that's a million people desperately shorting. Which has the effect of ultimately pushing the price up. Also worth noting we made bullish divs at the base (where I took the long) and have just formed more bullish divs on our last bounce a few hours ago. No sign of bearish divs anywhere. So, this all looks good for further upside. If you are looking to buy you must also consider where you are going to sell. Hodling simply isn't enough these days. Until it is clear that we are back in a bull market intelligent trading is the only way forward.
Great insights Sam. I'm more a long-term BAH person, so accumulation at these generally low prices I think is good.
My exit strategy will kick in once we reach a new ATH and I will start DCAing out like I am mostly DCAing in now.
Maybe with the bitcoin halving and more bullish sentiment that could even be next year.
Good man. Those who have the patience and capital for the long game will do very well from it. And DCAing is the way to go. I am too impatient for that. Wanna be increasing my capital even during downtrends. Actually, if I am being honest with myself it is because I don't have any fiat! And I am totally addicted to trading ;)
Is the halving next year already? Time flies! And sure, we can't argue with the halving. The effect is obvious every time. Looking forward to smashing through that ATH ASAP!
Good luck with the trading Sam. If you are passing near Frankfurt, feel free to drop in for a cup of tea, would be good to have a chat. You have my contact details in Seb's group.
Thank you for the Frankfurt invite.
I forgot you were in Seb's group!
Can you tell me what is your name there? Or perhaps just send me a message there?
Have been thinking about Seb these last few days. We are due a catch up! Still trying to get him over here to France ;)
Looking at the charts today I am now seeing bearish divs and continued weakness. Shame. Was hoping for more of a pump than that. But as I mentioned before, this is why I trade the way I trade, taking profits early and letting the rest ride. The only mistake I made was not compounding the short trade at the top! That being said it is a Wednesday and this very often creates crazy volatility... so anything could happen yet.