I always have a long position. It's tempting to go all in, but it's important to keep some liquidity. You should always have some of "the ready," as William S. Burroughs used to call cash. Then you can buy if the price drops.
But just as important, if there's an extended bear market, you don't want to be in a situation where you have to sell just to make living expenses, when the price is at a bottom.
I got in a situation like that at the bottom of the last bear market. I was long btc, with no income or savings. Instead of selling my coins, I started living off credit cards until the market went back up. It's a good thing I did, because I wouldn't have a stake now if I'd sold my coins then.
Topic: Analysis - page 90. (Read 941567 times)
"Break the purple line up will mean that the previous forecast is not true. In this case, the price probably will visit the top blue line." - Bitcoin Wang
so much for forecasts.... i guess i'll just go tune into the weather channel for my trading forecasts
Trading is a game of risk and reward and probability, not of actual forecasting. Nobody is infallible, and just when you think you "know" what the market is about to do, that's exactly the time when the market will screw you over.
The easiest thing to do is find out what the dominant trend is, assume a position according to it and then wait.
Good point. Also yesterday's candle was barely over, and today is far from over. I wouldn't exclude the possibility of a strong down move just yet.
"Break the purple line up will mean that the previous forecast is not true. In this case, the price probably will visit the top blue line." - Bitcoin Wang
so much for forecasts.... i guess i'll just go tune into the weather channel for my trading forecasts
Trading is a game of risk and reward and probability, not of actual forecasting. Nobody is infallible, and just when you think you "know" what the market is about to do, that's exactly the time when the market will screw you over.
The easiest thing to do is find out what the dominant trend is, assume a position according to it and then wait.
"Break the purple line up will mean that the previous forecast is not true. In this case, the price probably will visit the top blue line." - Bitcoin Wang
so much for forecasts.... i guess i'll just go tune into the weather channel for my trading forecasts
"Break the purple line up will mean that the previous forecast is not true. In this case, the price probably will visit the top blue line." - Bitcoin Wang
We're currently @ approx 1060 and have been battling it out for a number of hours now. That is not above the pink line in the chart, it's almost dead on.
Yep... click this and hit the play button:
https://www.tradingview.com/chart/BTCUSD/LpXrNPkX-progress/
Thanks!
We're currently @ approx 1060 and have been battling it out for a number of hours now. That is not above the pink line in the chart, it's almost dead on.
Yep... click this and hit the play button:
https://www.tradingview.com/chart/BTCUSD/LpXrNPkX-progress/
We're currently @ approx 1060 and have been battling it out for a number of hours now. That is not above the pink line in the chart, it's almost dead on.
Looks like this is wrong. We are already past that pink line and we are above it. It's time for a new ATH. The correction already happened , it was the first big PBOC crash. There will be no more crashes, not after a new ATH and potentially the next big great bubble of bitcoin history, triggered by many factors, including ETF.
So if it goes higher from here Master's chart is invalidated?
So if it goes higher from here Master's chart is invalidated?
By correction he is trying to narrate the movement of the chart regardless of opinions for fundamental or quality either side.
my personal view
I believe bitcoin is acting strongly or it appears to be well past some kind of obvious play to a downside such as 700
I thought the Chinese New Year might have more influence but wider aspects such as Trump and Chinese government abductions of some of the worlds richest citizens might be far more important
It fits within fib levels very neatly? Is this a weak looking situation to people really
Look at this last recovery, thats pretty impressive
my personal view
I believe bitcoin is acting strongly or it appears to be well past some kind of obvious play to a downside such as 700I thought the Chinese New Year might have more influence but wider aspects such as Trump and Chinese government abductions of some of the worlds richest citizens might be far more important
It fits within fib levels very neatly? Is this a weak looking situation to people really
Look at this last recovery, thats pretty impressive
The "correct" price of BTC should be 2k+. Waiting for some "correction" to drop the price isn't always going to happen when you think or want it to. Those who sit around and wait (hope) for the price to fall may find themselves on the wrong end of a movement. Is that clearer?
This is a technical analysis thread. Therefore the following definition of "correction" applies.
Quote
What is a 'Correction'
A correction is a reverse movement, usually negative, of at least 10% in a stock, bond, commodity or index to adjust for an overvaluation. Corrections are generally temporary price declines interrupting an uptrend in the market or an asset. A correction has a shorter duration than a bear market or a recession, but it can be a precursor to either.
A correction is a reverse movement, usually negative, of at least 10% in a stock, bond, commodity or index to adjust for an overvaluation. Corrections are generally temporary price declines interrupting an uptrend in the market or an asset. A correction has a shorter duration than a bear market or a recession, but it can be a precursor to either.
http://www.investopedia.com/terms/c/correction.asp
smh... Bitcoin is already undervalued. Waiting for a further price drop because it is overvalued may be be a mistake. That is what I have been saying. There probably will not be a major drop unless COIN is rejected in March or if approved, after a major rally in price to it actually becoming overvalued.
The "correct" price of BTC should be 2k+. Waiting for some "correction" to drop the price isn't always going to happen when you think or want it to. Those who sit around and wait (hope) for the price to fall may find themselves on the wrong end of a movement. Is that clearer?
This is a technical analysis thread. Therefore the following definition of "correction" applies.
Quote
What is a 'Correction'
A correction is a reverse movement, usually negative, of at least 10% in a stock, bond, commodity or index to adjust for an overvaluation. Corrections are generally temporary price declines interrupting an uptrend in the market or an asset. A correction has a shorter duration than a bear market or a recession, but it can be a precursor to either.
A correction is a reverse movement, usually negative, of at least 10% in a stock, bond, commodity or index to adjust for an overvaluation. Corrections are generally temporary price declines interrupting an uptrend in the market or an asset. A correction has a shorter duration than a bear market or a recession, but it can be a precursor to either.
http://www.investopedia.com/terms/c/correction.asp
The debate I'm having: should I follow the short term advice, reduce my position, and wait for the projected drop to 900 or 700? Or should I just go all in and wait for the big wave?
I already deleveraged my long, and sold part of it to have some dry powder.
Maybe instead of selling, I should have taken a bank loan, put the money on an exchange, wait for the next drop and add to my position.
I feel like I don't own enough bitcoins.
I already deleveraged my long, and sold part of it to have some dry powder.
Maybe instead of selling, I should have taken a bank loan, put the money on an exchange, wait for the next drop and add to my position.
I feel like I don't own enough bitcoins.
exit
waait for a correction
my 2 cents
Just hope the correction don't go up.
You've misunderstood what correction means, which is this case simply means the "correct" price of btc is lower than what it is right now.
What surprises me is how quickly the correction in Jan overturned and heated up again to its current 1k region.
The "correct" price of BTC should be 2k+. Waiting for some "correction" to drop the price isn't always going to happen when you think or want it to. Those who sit around and wait (hope) for the price to fall may find themselves on the wrong end of a movement. Is that clearer?
The debate I'm having: should I follow the short term advice, reduce my position, and wait for the projected drop to 900 or 700? Or should I just go all in and wait for the big wave?
I already deleveraged my long, and sold part of it to have some dry powder.
Maybe instead of selling, I should have taken a bank loan, put the money on an exchange, wait for the next drop and add to my position.
I feel like I don't own enough bitcoins.
I already deleveraged my long, and sold part of it to have some dry powder.
Maybe instead of selling, I should have taken a bank loan, put the money on an exchange, wait for the next drop and add to my position.
I feel like I don't own enough bitcoins.
exit
waait for a correction
my 2 cents
Just hope the correction don't go up.
You've misunderstood what correction means, which is this case simply means the "correct" price of btc is lower than what it is right now.
What surprises me is how quickly the correction in Jan overturned and heated up again to its current 1k region.
HDbuck,
that only applies, if we break to 700 by the mid february, yes? If it will take us longer through extended consolidation and multiweek bear market... we could revisit five hundreds...
Your opinion on this? Any updates on Masterluc position?
that only applies, if we break to 700 by the mid february, yes? If it will take us longer through extended consolidation and multiweek bear market... we could revisit five hundreds...
Your opinion on this? Any updates on Masterluc position?
this is master's opinion.
see here: https://vk.com/bitcoin_vanga
As the time goes on, revisiting 700´ and then recovery to near 1000 level gains more and more legitimacy. I honestly curious and will follow incoming development every day.
We might have another leg or two down before strong bounce back, so be careful about buying back or staying long for the time being.
We might have another leg or two down before strong bounce back, so be careful about buying back or staying long for the time being.
Nice but below 750$ is really brutal 
I would love to see under 750 so I get one last chance to off load some of these shitcoins i bought...
Nice but below 750$ is really brutal
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