Nothing new to report until we get out of this sideways consolidation, as you can see the range keeps getting smaller, my Buy Weekly Strategy continues to accumulate Bitcoin at these levels,
Are you getting in this week? I missed last week’s but with this break lower, I might hop in again. Do you think we’ll hit sub 7k this quarter?
so who is buying this pullback and who is panicking and selling at a loss, I am a buying
Not I! I was able to buy a small amount at 8k!
after a major selloff into support at 8,000 we now get a week of very little movement. Bulls and Bears are at a stalemate, next move wins,
We’re seeing small signs of life again!!! (at least on the 4H) How long can this continue?
Buy Weekly update, 41 weeks into the year $4100 invested and even at this week’s low opening price, we still have a nice profit
Yeah that $4100 is still performing way better than if it had stayed sitting in my savings, actually.
after a 2 week consolidation, we might have a breakout here, if price can hold above 8,500 I would look for a move to 9500
No breakout yet, consolidation continues but we are on course to a positive week first one in 5 weeks.
If current price holds into the close our Buy Weekly Strategy will gain about $400 form last week bringing our YTD to a positive $1,800
It is falling down to $8167 as of now. Wanting it to breakout so badly.
Great thread. I too am buying and not selling (Ethereum), just adding. It is hard though when I see really predictible price action. For example, a massive bearish candle formed at a critical resistance last Friday. That should send Eth prices tumbling down to at least the 160 handle or lower. But i continue to hang onto my core position and will buy more as it tumbles. I am glad I have only used 50% of my cash, still have the other 50% to deploy and reduce cost basis as it tumbles.
This is life for the buy and hold Bitcoin investor. If you can’t handle the dips then stay out of this market
Currently at $9916! Wow, super huge moves in 15 min intervals. Will we hit $10K by Monday, or…
Asian will be waking up soon, Europe in 2+4 hours.
Wow! 25% move over the last 4-5 hours.
And as I was typing, $10145!
To present a balanced view over this strategy you should consider what would happen if you bought bitcoin during the bear market. If you of course want to avoid look ahead bias.
if in 2017 you used this stratigy and bought $100 of bitcoin each week and continued to hold that Bitcoin today your $5,200 investment would be up $19,877 ( that is profit)
2018 profit stands at $1925
2019 profit stands at $2527
this is all based on current price of $9,500 as I post
Now the smart invester bought during that three week consolidation around 8K while the not so smart invester got exceited about the move and bought above 10K
Good that you share both sides of the ups and downs of price movements.
You’re not guaranteed to always make profits.
the 9300 level was an area of major support, now resistance.
We will likely finish the day with our third down week in a row, all this price action is happening within that last green candle, a break of either end of that candle will tell us where this market is headed
The beginner's guide to FX trading