Did you see the chart? This is not a prediction on where BTC will go. Bitcoin is too manipulated to predict long-term where it will go. Ultimately I'm bullish on Bitcoin, my goal with altcoin is to accumulate more Bitcoin. However, I'm not afraid to say sell it all (in the short term) if a significant drop is expected. Right now, stay in BTC (but we're close to the cliff).
With that said, this is my intro post and where I'll update you on general market conditions. Altcoins are still slapped around by BTC so we have to keep an eye on it. I like simple analysis because people are generally simple. That said, trend lines, volume, and intel are my main drivers. This is why I don't like predicting Bitcoin, its annoying. Another thing that is annoying is "experts" that don't do TA in logarithmic mode.
My philosophy is buy low (near the bottom of a current channel) and sell quick (ideally near the top of the channel). ALWAYS use a stop loss. I do not publish one because it is always moving along the trend line. If the trend line on my chart is pierced it is time to sell. Don't panic, it will typically bounce back up to test the old trend line . We're here to make profit. I hate when others here set 20% stop losses, that is crazy. We're already buying close to the bottom of the channel anyways, keep those stop losses tight and up-to-date.
How do we profit? Its up to you. Do your own research. I watch for trends, volume and keep my eyes and ears in other VIP groups to know what is going on. I share this here with you. I favor small quick gains. If you're up 5% in 20 min then sell and be happy. Want to keep some skin in the game? sell 90% and know that half your coins are free.
I'll add more here as time goes and if BTC wants to jump off the cliff again I'll do my best to give the signal to convert to fiat here. My time zone is UTC -4 and I generally only post during working hours, I'll share some updates in evening hours and weekends but don't expect it, we all need to enjoy life.
(I broke the house rules, sorry, so this post as been refreshed from before with some slight modifications)
With that said, this is my intro post and where I'll update you on general market conditions. Altcoins are still slapped around by BTC so we have to keep an eye on it. I like simple analysis because people are generally simple. That said, trend lines, volume, and intel are my main drivers. This is why I don't like predicting Bitcoin, its annoying. Another thing that is annoying is "experts" that don't do TA in logarithmic mode.
My philosophy is buy low (near the bottom of a current channel) and sell quick (ideally near the top of the channel). ALWAYS use a stop loss. I do not publish one because it is always moving along the trend line. If the trend line on my chart is pierced it is time to sell. Don't panic, it will typically bounce back up to test the old trend line . We're here to make profit. I hate when others here set 20% stop losses, that is crazy. We're already buying close to the bottom of the channel anyways, keep those stop losses tight and up-to-date.
How do we profit? Its up to you. Do your own research. I watch for trends, volume and keep my eyes and ears in other VIP groups to know what is going on. I share this here with you. I favor small quick gains. If you're up 5% in 20 min then sell and be happy. Want to keep some skin in the game? sell 90% and know that half your coins are free.
I'll add more here as time goes and if BTC wants to jump off the cliff again I'll do my best to give the signal to convert to fiat here. My time zone is UTC -4 and I generally only post during working hours, I'll share some updates in evening hours and weekends but don't expect it, we all need to enjoy life.
(I broke the house rules, sorry, so this post as been refreshed from before with some slight modifications)
Comment:
Next levels of BTC support are at 7200, 6700, and 6000. There are several very accurate signal callers saying 6000 may be hit today. If we breach a support level expect the next level to be tested. you can limit your losses by setting conditional sell orders. Tether and TrueUSD are the best fiat alternatives. Bittrex will be launching USD trading pairs soon.