Hi dear readers!
The big red rod hit the cliff we were hanging on. The river began to flow like a storm. And the big fishes began to digest.
I have not posted for a while becauase considering that I am not a day trader who surfs on every wave taking big risks to enjoy the adrenaline, there were no new things for me to chat about. The same old system was working like a machine. Now it seems like blood began to stain the streets.
In my analysis "Till how LONG?" I confessed to you that I was out of the market at around 11k. Since then I posted a few charts and thoughts describing why I think that it is a risky adventure to hop into the market after such a sudden and large rise. Despite there were many mooniac charts saying that it was the last time to see a four digit btc again and again and again and... oh God... so despite that I considered to wait for the never-to-happen-again four digits and to buy on a big discount, instead of taking drugs and watching at the rainbow coloured 1000k lambo on the sky. The only thing I did not fully anticipate is that there will be a sooooo long intermediate period when price just bounces between lines. I was aware of the possibility... but hoped to enjoy the game again a bit sooner. Anyway...
I am happy that I did not talk complete bullsh*t. And I am not unhappy about not catching the top, and riding the waves. It is good for me to just float in the shallows.
Now the big red rod came, and I feel that we crossed the line between the sentiment "healthy correction" and "falling". Now we began to fall. Of course, as said a hundred times before, and as you surely already know, anything can happen if we are talking about bitcoin. Thats why I began to call it b*tchcoin. The price can jump 2k in a matter of seconds and push up above 10k in no time. That is because the people with big money have enough of that big money to influence this unregulated market that much. Just check the charts. It is not a surprising event to drop or jump 1-2k in a short time, it is a completely "normal" phenomenon with bitcoin.
But that is completely unpredictable. You cant predict how the influencers change the rules of the game. But you can be aware of the fact that they can change the rules at any time, and take it into consideration before making a move.
Putting this unpredictable factor aside, if the rules dont change and the big fishes continue to digest silently, then the sentiment and the overall mood points downwards. Technicals point downward (in this component of the subject I refer to the experts I am following). Just check the weekly. Of course the market makes waves as always, there will be some upside and downside, but essentially I think we will go further down.
I believe that what we have now is most likely a falling knife. If you are not careful enough it will first bounce on your palm, then on the kitchen table, making a nice hole in the beautiful wood, then on that lovely chair, and then ends up in your leg. Be careful.
At the moment, depending on how fast we will drop further and with or without what kind of corrections, I will be considering to buy in somewhere between 6500 and 7000, and then around 5500. Why? Well, for technicals, again, read the experts I am following. For common sense, please look at the charts, and how they moved during the last months.
Dont be sad about bitcoin falling, even if you have bought some at higher prices. We will get back there eventually. And until then, if you dont HAVE TO buy a lambo right now, have patience, and if you have a bit of money to invest, enjoy the discount prices. Dont try to catch the knife, neither the bottom. Just buy in at prices you consider to be reasonable, and wait for your time. Your time WILL come. Most probably sooner than you might think. But I know... I know... it is f***ing irritating to wait with losses. I really know.
Maybe, maaaaybe the big fishes are beginning to take it slow know, and silently digest. Lets wait a bit... and eat them when they fall asleep.
Hugs, lots of them, and caring words. Lets sit down in front of the monitor, have some popcorn, and see what the next episode will be about.
DISCLAIMER: Noooo no-no-no-no-no. You know. No. No trading advice here. Just chatting. I am absolutely no expert analyst. Just an enthusiastic one :) And I mainly analyse psychology and sentiment on the large scale.
And feel free to chat! Please post comments, compliments, hateful words, threats, or just troll-around for fun!!
And feel free to post your own charts in the comments! It will be exciting to check them out, and maybe learn something! :)
Take care.
The big red rod hit the cliff we were hanging on. The river began to flow like a storm. And the big fishes began to digest.
I have not posted for a while becauase considering that I am not a day trader who surfs on every wave taking big risks to enjoy the adrenaline, there were no new things for me to chat about. The same old system was working like a machine. Now it seems like blood began to stain the streets.
In my analysis "Till how LONG?" I confessed to you that I was out of the market at around 11k. Since then I posted a few charts and thoughts describing why I think that it is a risky adventure to hop into the market after such a sudden and large rise. Despite there were many mooniac charts saying that it was the last time to see a four digit btc again and again and again and... oh God... so despite that I considered to wait for the never-to-happen-again four digits and to buy on a big discount, instead of taking drugs and watching at the rainbow coloured 1000k lambo on the sky. The only thing I did not fully anticipate is that there will be a sooooo long intermediate period when price just bounces between lines. I was aware of the possibility... but hoped to enjoy the game again a bit sooner. Anyway...
I am happy that I did not talk complete bullsh*t. And I am not unhappy about not catching the top, and riding the waves. It is good for me to just float in the shallows.
Now the big red rod came, and I feel that we crossed the line between the sentiment "healthy correction" and "falling". Now we began to fall. Of course, as said a hundred times before, and as you surely already know, anything can happen if we are talking about bitcoin. Thats why I began to call it b*tchcoin. The price can jump 2k in a matter of seconds and push up above 10k in no time. That is because the people with big money have enough of that big money to influence this unregulated market that much. Just check the charts. It is not a surprising event to drop or jump 1-2k in a short time, it is a completely "normal" phenomenon with bitcoin.
But that is completely unpredictable. You cant predict how the influencers change the rules of the game. But you can be aware of the fact that they can change the rules at any time, and take it into consideration before making a move.
Putting this unpredictable factor aside, if the rules dont change and the big fishes continue to digest silently, then the sentiment and the overall mood points downwards. Technicals point downward (in this component of the subject I refer to the experts I am following). Just check the weekly. Of course the market makes waves as always, there will be some upside and downside, but essentially I think we will go further down.
I believe that what we have now is most likely a falling knife. If you are not careful enough it will first bounce on your palm, then on the kitchen table, making a nice hole in the beautiful wood, then on that lovely chair, and then ends up in your leg. Be careful.
At the moment, depending on how fast we will drop further and with or without what kind of corrections, I will be considering to buy in somewhere between 6500 and 7000, and then around 5500. Why? Well, for technicals, again, read the experts I am following. For common sense, please look at the charts, and how they moved during the last months.
Dont be sad about bitcoin falling, even if you have bought some at higher prices. We will get back there eventually. And until then, if you dont HAVE TO buy a lambo right now, have patience, and if you have a bit of money to invest, enjoy the discount prices. Dont try to catch the knife, neither the bottom. Just buy in at prices you consider to be reasonable, and wait for your time. Your time WILL come. Most probably sooner than you might think. But I know... I know... it is f***ing irritating to wait with losses. I really know.
Maybe, maaaaybe the big fishes are beginning to take it slow know, and silently digest. Lets wait a bit... and eat them when they fall asleep.
Hugs, lots of them, and caring words. Lets sit down in front of the monitor, have some popcorn, and see what the next episode will be about.
DISCLAIMER: Noooo no-no-no-no-no. You know. No. No trading advice here. Just chatting. I am absolutely no expert analyst. Just an enthusiastic one :) And I mainly analyse psychology and sentiment on the large scale.
And feel free to chat! Please post comments, compliments, hateful words, threats, or just troll-around for fun!!
And feel free to post your own charts in the comments! It will be exciting to check them out, and maybe learn something! :)
Take care.