Sold some at 98ish, sold some at the bottomish around $90 (as usual).
IMO the case for the "correction" is officially debunked, we are officially in the bubble deflation process, thus I expect it to go lower. Testing $80, and if it falls, testing $50. I'll load the truck at that point.
I would love for it to be fast, as we could enter a mid term growth phase quicker, but I'm afraid it will be long process. I expect plenty of traps and mini sucker rallies, as usual during bubbles deflation.
Agreed. Once we broke the trend of higher lows since the crash I sold 30% of my holdings at $104. I think we'll stay in this bear market for 1-2 more months until we bottom out, after which we can gradually start the road to recovery. I don't think we'll go as low as some of the bears are saying, I see 60-70 as a reasonable bottom right now, with 50 being the absolute lowest we could go without any kind of devastating news. I will probably play it safe and buy back in at ~70 myself. I don't think this is bad for bitcoin at all, the people who took out loans and invested way more than they could handle need to be burned hard and flushed out of the system. My average entry point was at $170 before the 10th of April, I managed to lower that to ~$105 through smart buying during the crash and I plan to keep doing this all the way to the bottom of the bubble.
I can't argue much with you and Rampion. I'm glad that low volume sideways action finally broke in some direction! We got a nice hammer today (hopefully it holds), so I don't think we shoot down from here. Think a bit of a bounce and/or sideways action is in the future. Depending on the volume and how things look with buyers, I might sell some of mine and hope to buy in later. Really depends on how things look. Regardless, I'm buying more later! ehehe
I do see 50 ish as an absolute bottom, barring extreme news. Thus far bottoms have come with huge volume, so if you play that sign, it has been reliable. I bought some on the downward movement on May 3rd. Once we bounced off the bottom on high volume I caught it before the we reached the open price. I felt proud (not so much now.) I was VERY close to selling some at $130, but decided to stay the course. We'll see....
edit - Just noticed we are sitting almost on that same May 3rd level... Nice double bottom hammers (if there is such a thing).
