Where do you reckon Bitcoin is going to correct to? Mid-Higher $200 range? A price range where apparently it would be unprofitable to mine and which would endanger the integrity of the entire p2p network?
I suspect that when you get your 'final' position filled, that you will be watching Bitcoin very very closely. If Bitcoin were to drop into $100 range, it would only be history repeating itself.
I'm not hunting for the bottom. I'm just waiting for the next spike down. I don't know what the price will be; I just want some volume and a little uptrend on the daily chart to start. I don't want to buy right now right after all of these trends just went down. I'll have an easier time leaving once it's on the way back up and I'll have more coins too.
Not to be a dick, but is that really a position you'll be happy with? Say we'll see another (mini) capitulation, and another attempted reversal. You'll be happy leaving the market 100% in btc when there's serious doubt whether it'll just be another failed attempt at breakout?
I'm keeping about 25% in BTC as my minimum long term holding investment, and removing the rest in fiat (which I'm already almost complete with). I may buy back in later with coinbase if I see a 1W MACD cross. So I will be reduced to checking the charts once a week.
This is more about my career as a software developer and my quality of life and sleep than about investing.
Makes sense.
Didn't really expect that you'd leave the market all-in anyway.
Still, I know I've vowed to myself several times that I'd give up "bottom hunting" and would just leave with my cold storage plus my eyes on some ultra-laggy-ultra-secure indicator signal to get into the game again, but it turns out to be a remarkably difficult decision for me to follow up on. I guess the perma-bullish conditioning of BTC is hard to break...