Bitcoin...Down we go...Where we stop somebody knows
Updated
There is so much noise out there it's absurd! Can we please have just one more article about market manipulation in cryptocurrencies? Have any of you idiots really studied charts from regulated markets like the NYSE or Nasdaq? Happens there also but it's disguised better by the professionals.
Ok so bulls took a beating in the derivatives markets and lost some serious btc. If your a trader and a bull, stick to your plan and buy the dips! Don't try to be a fortune teller and catch the falling knife just set multiple buy orders at points of interest. Say your bag is $1000 and you think btc is best thing since sliced bread. Set some limit orders with no more than 3% of that $1000 or $30. Yes it sucks when btc moons 30% and you make $9 profit. Trust me you want that bag of cash for the days ahead.
My method simple and not original but effective. Use BB/KC indicators looking for a squeeze with positive momentum. It's ridiculously effective on anything with volume. Buy signal came on March 15th, 2019 at $3800-$3900. Once momentum appears to peak and we been riding outer edge of BB, I sell. Sold on May 13th, 2019 at $8100.
Now I place buy orders with each no more than 2% of my available funds and I wait. We bull market for sure just be patient.
If your a f....ing noob, stay the blank away from derivatives! YOU will eventually be liquidated and this tends to repeat itself for several thousand dollars. That's what these "flash crashes" are all about. Smart money shorts a few million so they can buy the spot cheap.
This is only my opinion and not financial advice. Read, research, and think for yourself!
Ok so bulls took a beating in the derivatives markets and lost some serious btc. If your a trader and a bull, stick to your plan and buy the dips! Don't try to be a fortune teller and catch the falling knife just set multiple buy orders at points of interest. Say your bag is $1000 and you think btc is best thing since sliced bread. Set some limit orders with no more than 3% of that $1000 or $30. Yes it sucks when btc moons 30% and you make $9 profit. Trust me you want that bag of cash for the days ahead.
My method simple and not original but effective. Use BB/KC indicators looking for a squeeze with positive momentum. It's ridiculously effective on anything with volume. Buy signal came on March 15th, 2019 at $3800-$3900. Once momentum appears to peak and we been riding outer edge of BB, I sell. Sold on May 13th, 2019 at $8100.
Now I place buy orders with each no more than 2% of my available funds and I wait. We bull market for sure just be patient.
If your a f....ing noob, stay the blank away from derivatives! YOU will eventually be liquidated and this tends to repeat itself for several thousand dollars. That's what these "flash crashes" are all about. Smart money shorts a few million so they can buy the spot cheap.
This is only my opinion and not financial advice. Read, research, and think for yourself!
Note
Friday is the best day for a real lunch break! Local diner for some southern fried food. Catfish fillets, white beans, okra, hush-puppies and blackberry cobbler! Wtf I am full. Corn being resilient around $7000. Nice sell volume but no big dumps yet. Filled my bags for this range around $6800 but paying attention to weekly and 7350/7450 ranges. Outside chance we range here while the alts pump.
Listening to some Silversun Pickups that describes being a full time crypto trader - It doesn't matter why. Check it out
Note
Buy bots slowly driving this price up but not convincing. No real sellers yet but volume consistent. Love the magic carpet ride that market makers take us on.Weeeeee away we go.... time for some dumpingNote
Oh they tempting me with this buy action...No FOMO here guys. $7250 - $7350 zone must watchNote
CNBC talking up crypto crash which usually means time to buy but I wait and see.Note
If we don't dump, we should be settling into a range. Still early though but we need to let 50 MA catch up and get off outer BB for a few days. If bulls are impatient and we go up again this weekend and ride that outer BB it means serious FOMO. I am not a fortune teller nor do I practice magic. It's all about managing your ego and risk. Play small, play smart and learn to master your edge.
Note
Today's green dildo was completely unexpected which should be expected! Right? I'm reminded of the movie 300 and King Leonidas when he said "this is Sparta"...
Our version "this is crypto" now I shove this candle where sun doesn't shine! Nothing has changed for me and I still have orders stacked.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.