Yeah it's a decent volume request - we're still $5 away being currently @$610.
I'm having to hold off trading for now (UK Business Banking issues to sort) but loving my ~$480 buy-in. Cheers for you past advise and stuff mate! How's your positioning?
Well, I have limited myself to around 50% of the margins that I might have had if I had just held from $460. But I got cold feet at $520. There was a big nasty 2K BTC wall at $530 which definitely had a role in my decision to sell. Similar to this disappearing and reappearing wall that this whale joker keeps goading the market with right now. That particular wall was taken down and kept down as buying pressure rolled over the $530 in much smaller volumes. My next buy in target was $540. But I was in my bed. Since then, I have been a bit hot n cold, a bit in and out. Not lost any money (yet), but was anticipating some kind of meaningful correction, but then the buying pressure (all fake no doubt) enticed me back in at $601.
So I am anxiously observing market to see what comes next. A proper correction must come. It is a question of when, as I have found out after leaving my perfectly timed $460 trade way way way too early.
Remember your $460:$520 margin, I thought that was a good play, who knew we'd shot up to 585?? Eitherway brother that's still a great margin you made and at least you converted into FIAT profit.
I used to be concerned with just the # of Bitcoins I hold, but now I'm happier realizing the FIAT profit. We got a decent amount of Bitcoins in offline wallet (These I won't consider touching until if/when price index becomes >$7000/BTC, so that's probably gonna be a long time!) The rest have been flipping on Localbitcoins @ 7-14% margins near instantly buying them back - it's awesome. However my bank, previously cool via my business account, maybe having a different stance, meeting with them on Monday.
Not too sure about the next correction, don't think it'll be sub$600? I actually think if increasing personal BTC, you should be very careful June/July. If I can resolve my business bank account, we are going to reduce our transaction frequency and charge a >9% margin, just to be on the safe side. Seems the stability of price index whether it be via market manipulation or whatever is confirmed volatile right now.
Working on an actual BTC web project at the moment mate, we got a small team (2
) software engineers working for us, so that'll keep me busy. Let you know how it goes