Will YOUR bear get trapped?
Another week, another xanax.
I didn't expect BTC to pop up to $8,500 this morning (3/16/2018), expecting it to continue to drop overnight. But I woke up, and just about tripped over this bear trap. A bear trap is when the price goes up in a down market, so you think it's going up, and then the price reversal snaps back down and BOOM! the bear of your investing sentiment is trapped. Underwater. Owing Uncle Joey 10% interest - per day. Whatever metaphor you want.
The 4 hour chart (non-logrithmic) of 2018 is showing that while the market loves tickling the bottom of that trend line, we just can't. break. through. Mt. Gox shareholders, regulatory FUD and panicked emotion is making Elon Musk the only one w/ a lambo in space, and even that one's not going to the moon.
Of course I want price to go up. My losses on paper the last 10 weeks alone are going to give me some FANTASTIC tax losses next year, should I choose to sell. But calling it as you see it, in accordance with well established analysis, is the exact opposite of FUD. I might be wrong, but I'm sure not FUD.
I didn't expect BTC to pop up to $8,500 this morning (3/16/2018), expecting it to continue to drop overnight. But I woke up, and just about tripped over this bear trap. A bear trap is when the price goes up in a down market, so you think it's going up, and then the price reversal snaps back down and BOOM! the bear of your investing sentiment is trapped. Underwater. Owing Uncle Joey 10% interest - per day. Whatever metaphor you want.
The 4 hour chart (non-logrithmic) of 2018 is showing that while the market loves tickling the bottom of that trend line, we just can't. break. through. Mt. Gox shareholders, regulatory FUD and panicked emotion is making Elon Musk the only one w/ a lambo in space, and even that one's not going to the moon.
Of course I want price to go up. My losses on paper the last 10 weeks alone are going to give me some FANTASTIC tax losses next year, should I choose to sell. But calling it as you see it, in accordance with well established analysis, is the exact opposite of FUD. I might be wrong, but I'm sure not FUD.
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