It already dipped below $10k (I spotted $9,987.86 about 30 minutes ago... lasting for at least 3 minutes).
You already had your chance.
In other words: been there, done that.
crap, just missed triggering a buy i had at 9920 then. catch it later maybe
Usually it is better to put your buy orders at above the BIGGER round numbers (in that case, the BIG number that seemed to have fallen pretty quickly was $10k), but sure, you never know because sometimes the spike does go temporarily past the BIGGER round number (which it did in this case).
Historically, I have had plenty of orders (both buy and sell) that just miss by a few dollars and sometimes even missing by a few cents.. and sure, sometimes the BTC price does come back to that previous location, so usually it does not pay to change your order locations, unless you are changing your order locations for a different reason.. so overall, our mission as "swing traders" should be to try NOT to be emotional about whether our BTC orders are filled or not, but when they are "close but no cigar," we can become a bit irritated (which surely is a kind of emotional) because of how close the orders had come to filling (without happening).
You are right though, vapourminer. It seems way too early to call the bottom for this particular cycle, currently - even though in my earlier post, I was playing around with BayAreaCoins about the bottom potentially being "in".... a little hopium on my behalf, probably.
By the way, this time around (the past 24-48 hours), I had BTC buy orders that were located about every $250 increment from $11,300-ish to $10k fill.. so my next buy order is around $9,800-ish... so when the BTC price moves a lot, then surely a lot of orders do end up getting filled (even in my case), and I try to NOT have any second guesses regarding all of the BTC that I bought all the way down the ladder, when I could have timed it and bought them all for lower prices (in theory).. In other words, I have no regrets about how it played out and glad that I was able to feel that I profited from the situation...
I kind of feel like I am supporting the cause and doing my "duties" when those multiple BTC buy orders are filling up all the way down the ladder, while at the same time satisfying my personal interests of stacking more sats along the way, too - even though in retrospect quite a few of them were bought at much higher prices than I "could have bought them" in theory.
Looks like we got our second dip below $10k, and this one lasted for only one minute (about 1 hour before this post), but it was deeper than the previous dip, described above. So, if vapourminer did not change anything, then his buy order at $9,920-ish would have gotten filled because we got down to $9.902.43, and my next buy order $9,800-ish is still just sitting there... NO problema with me. I remain neutral about my buy orders getting filled, except of course, if we come within a few dollars of my buy order, then I start to develop a bit of a small preference that it gets filled.. a short term rooting for down (against all reason, but the thought is that if we have gotten this far, what's a few more dollars?.... hahahahahahaha).
Anyhow, I remain quite biased in my preference for UP rather than DOWN... because even if I might be able to stack a few sats on the way down, it continues to be minuscule amounts of stacking as compared with how much of a benefit comes from purely straight UP. So let's take this latest dip down from $12,000 to $10k... that's a $2k dip in prices that my system has caused me to increase my stash by .1% a most (after the down and the up takes place, I maybe have stacked an additional .1% through my system)... Pretty piddly in the whole scheme of things, and would be way better off by dollar cost averaging over the longer term and continuing to add value on a regular basis. Problem with my current personal situation is that I no longer feel that I am in a situation to continue to inject value into BTC because I both overachieved my goal in late 2014, continued to add value after 2014 (even after I had already overachieved) and the value of BTC had gone up 78x since late 2015 - but then we are stabilized at a BTC value that continues to be around 40x (given $10k as an approximate current price) and 26x (if we consider $6,600 as our current approximate 200 week moving average - which would be the theoretical extreme bottom).
The punchline continues to be that systematic attempts to profit from volatility remain as a kind of insurance (mostly psychological and a wee bit financial) more than any kind of meaningful way to stack sats or to profit in BTC overall, and the best ways to continue to stack sats and to accumulate BTC value is mostly by periodically injecting value, whether calling it DCA or calling it buying the dip or calling it something else. And, by the way, for anyone looking for a dip, when you get anything over 10%, you are likely witnessing a significant and meaningful buying dip, and maybe you do not want to blow all of your buying wadd (or dry powder) on a 10% dip, and in this circumstance, so far, we have seen about 18% dip from $12,061 down to $9,902, which should be more than reasonable to pull the BTC buy trigger for anyone buying the dip, and sure you can keep some more value available, just in case to buy if there were more of a dip, but such additional dip may or may not happen this time around.
Ps. I see that we are getting a pretty BIG bounce off of this latest dip: Observing $10,457 as I type this Ps, but I am not going to proclaim that the bottom is "in" because I believe that it is too early to confidently make those kinds of assertions.
