Vox Populi Vox Dei
High Tory
You're sounding like [MENTION=5304]biometrics[/MENTION]....
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You're sounding like [MENTION=5304]biometrics[/MENTION]....
$39.5k, May 2019
SaiyanZ
Executive Member
I think still more up first to $6500/$6600. This last small move up and down (similar to $6300 break and back down) happened before as well. So will just hold and re-evaluate if/when we get there.
Main thing for a move up is for $6100 to hold.
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Yeah that takes us to the upper line of that main down channel. I'm sure it'll hit heavy resistance there. Will see what pullback is like...might even be lucky and it goes back up to retest and break through. Not sure there's enough volume and positivity right now to punch through that $6500 level.
SaiyanZ
Executive Member
There is a small chance of it breaking. If it breaks though there should be massive buys because of FOMO and people not wanting to miss the bottom. So I will hold until it starts to fall hard. Willing to sacrifice a little profit for a bigger haul.
Something that is both good and bad is shorts being closed. So people think it's going to go up (good) but no power move up from short squeeze (bad). The move up above $6500 might fail purely because of the lack of a short squeeze.
biometrics
Honorary Master
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You had your chance to cash out recently. Sure hope you did.
SaiyanZ
Executive Member
6pm pump time. Maybe this one will follow through.
You had your chance to buy in recently. Sure hope you did.
*bookmarked for future reference
biometrics
Honorary Master
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Fixed. No thanks.
Haven't you been telling everybody this for the last 100 years?
SaiyanZ
Executive Member
Still ok for a move up. It's busy retesting the orange bubble region which also happened previously. If it drops below there (around $6k) I'll have to throw this out the window.
:crylaugh:
^Moon
Lambo!
Vox Populi Vox Dei
High Tory
Brilliant! Just emailed to my fellow HODLers!
While I can't wait to get back to alts and trade longer timeframes, trading BTC with all this volatility has been a good lesson in where to stop-loss and avoid being stopped out. A few times I've placed stop-losses on decent support only to be stopped out and see the price bounce. It's usually the case that a willingness to incur a slightly greater % loss will prevent being stopped out and be in for the bounce. That said I still prefer the weekly / monthly trading where there's usually more freefall space between major support lines where stop-losses can be placed.
The cool thing about being out of alts and trading BTC is I'm forced to trade a market and conditions I wouldn't usually participate in - been a fun learning experience.
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