Topic: BTC drop to next level coming...bail the F out now! - page 5. (Read 24657 times)

I'm looking for it to find support on the 7 week moving average and then take another stab at breaking the 30 week moving average.

... I reckon $557 soon.

Its a nice deal if it can hang on to the 6xx area for a while. Stability of price always helps support a positive long term outlook...

it's gonna stay around 600 until the 27th, then who knows?

It just dropped from 605 to 595. 420 Bail it out.

http://static.fjcdn.com/gifs/It+s+HAPPENING.+100+shure+from+pol_47a934_4838945.gif

I hope you don't lose too much before you switch to the above (I'm not being sarcastic, I sincerely hope this, but would not recommend it)

That's exactly what I tried when I first walked into the BTC world about 4 months ago. I bought at $634, but then with MtGox going down and China banks rumours stopping BTC on the way as well etc, it went down to $379 (i.e. almost half if I remember correctly), being a novice in BTC at the time I sold then thinking it's going down further and probably staying there trying to recover my loss by aiming to buy at a lower price, the minute I sold, BTC rocketed up quite fast before I even knew it, I ended up cursing and banging my head to the wall as a result.

The strategy I am following now (mentioned in an earlier reply) worked out very well, thank God there was the second down-turn about a month ago, I remember selling already just about when it started to go down, but then not knowing why it was going down or when it was supposed to stop, I stumbled on this forum and found it extremely useful, it gave me ideas about how to understand (lines have crossed already), consider volumes, check  ask/bid prices on the way etc, all that now helped me so much to "try" and become a better BTC trader.

Thank you for sharing your strategy wachtwoord (really appreciate it), I will stick with mine for now until BTC is more stable, then would certainly do yours on the long run. Well, probably a month after the auction becomes history.

Kind Regards
Heider
 

Don't make decisions based on where it is going.

1. Buy.
2. Hold.
3. Sell a small percentage after it moved up a certain amount (e.g. 100%)
4. Rinse and repeat

Kind'a of both to be honest, in a nut-shell, here's my strategy:

A) Buy when it's going up to sell higher.
B) Sell when it's about to go low, to buy lower.
C) Hold when 100% sure that its only going up...
D) Sell half-load when not sure if it's going up or down, then make-up the difference with the held amount.

Let me know if you think any of the above is wrong, any suggestions to improve are always welcome.

So far, I'm doing fine, I did lose initially when I first walked into the BTC world, but now the sky is raining Kabbab...

I hope this answers your question.

Kind Regards
Heider

Do you feel a compulsion to buy or sell? Are buying and selling the important things to you?

Whether you're into Bitcoin to support disruptive technology and open-source decentralized secure peer-to-peer networking, or merely to try to make money, holding is a lot more productive in the long run and a lot less stressful.

If you fancy yourself a trader, by all means have fun.

OK,...

A said "Green", B thought "Blue",

... regardless of what the actual colour is, how about calling it the technical term; "a Misunderstanding" and move on?

Anywayz,... Back to the subject, I think BTC had a very bad day today, I've never seen the lines mangled this way since the 23rd of May (BTC price then was $529), as opposed to yesterday there have been many up-blocks (many drops of 70 BTC each) placed just below $600 ($598, $599, $596) all day, this is preventing the price from going up to $600. It's now clear that a nasty group clearly doing all this on a purpose.

This is causing people to lose interest in buying or selling today (I'm one of them), which is why there's hardly any movement at the moment.

A less-similar state was on the 13th of June (4 days ago), where BTC was around $570.

I don't know after saying this here, if things would change exactly the opposite way, I might go crazy and start selling half load soon.

Regards
Heider

Understatement. Imagine if someone said that about a stock like Apple or Google? It would sound like the company is going bankrupt!

I am and have always been positive on long term prospects of BTC. However, I am a trader and my words may have been confusing to long term traders who would have seen it as leaving BTC altogether.

I don't think its worth sitting and waiting for BTC to head higher because traders are in the game now and traders enjoy waves and take their slices at they come along. Its worth taking profits as they come though there is always a risk of missing the train if and when it takes off the station. There are always more entry points to come along but taking the exit points is what books in the profits. Hopefully this FBI saga will be over soon and we are back on track climbing over the $1000 wall.

Thank you as well, it's worth contributing if we can help even one person to benefit.


It's a good point, I don't think BTC is a concept that would collapse, there are numerous reasons for optimism. One reason that particularly convinces me is the fact that Bitcoin protocol can be further modified, that if the community/core devs agree on a feature, it can be incorporated with the existing protocol. Here's a quick read:

http://www.coindesk.com/bitcoin-developer-jeff-garzik-on-altcoins-asics-and-bitcoin-usability/

"On altcoins"

and

http://www.coindesk.com/bitcoin-developer-jeff-garzik-on-satoshi-nakamoto-and-the-future-of-bitcoin/

"A conservative team"

If it wasn't applied to "forever", then why the F would I bail out?  Bailing out means the ship is sinking, get out before you you do down with it. If the price drop was just temporary, then why the fck are we worried in the first place?

Things are never desperate to do anything.

By the way,

I noticed since morning that someone (or group of people) placing in orders of 200 BTC at a time every time it tries to go down. I saw this on $590, $600, $603, I don't know what's going on, but it seems that someone wants to stop it from going down now, and then pushing it right up with a similar sale on the uptrend.

Currently there are $110 left to be sold at $590.00 at the moment (i.e. $90 chewed out of the $200), which tells me that BTC is desperate to go down.

I don't want to advice anyone at the moment about what to do, but the above should be self explanatory if it stays that way for a while.

Kind Regards
Heider

Thank you VERY much Sir.

Your kind'er words makes my day.



Have a good one

Cheers
Heider

In most cases, in the financial markets information published yesterday becomes useless today:) There are some exceptions, for example data concerning interest rates tied to particular currency by it's central bank- those rates when shifted can create trends that continue for several days/weeks/months. In the cryptocurrency markets there are no interest rates as those in the fiat currency financial sector, so to further elaborate is pointless:)

@Heider, you are very kind to use such gentle words where other people would use invectives:)