1) spot trend, follow it until it shows signs of reversal
2) learn what reversal patterns are, how they relate to market psychology, where they occurred historically in these markets, and how to recognize them and their variations
3) have enough self-respect and confidence in your position that you don't have to troll threads talking your book
4) profit
All valid and good points (in general), but in the case of bitcoin all the data is suspect because of a certain frenchy named Mark Karpeles. So the only rational decision is to get out and let price return back to reality based on supply and demand. If I might give an estimate about where the price will be in january I would say 1xx. And I believe it will continue down in 2015 - all the way to a level that is supported by Silk Road. As most (except bulltards) knows, there is no reason for consumers to buy bitcoin to purchase anything besides that. Please refute me.. Have a good wednesday.