Okay, you know me well enough by now to know that I only talk about getting the odds on your side, and with buying and selling that means buying as low as you can - to limit your risk - and selling as high as you can - to also limit your risk. From my posts on the subject, you know all about how important I think having a well balanced portfolio is for accomplishing that task, as well as being informed and doing a little market watching, etc. You also know by now that I mainly use Bitcoin as a proxy for the general market even though I've never expressly said so - but you know I hate it and I don't, nor won't, own it. (In all fairness, I have to admit that I've used it as a means of transfer to and from fiat, but only because it's still almost impossible to do that any other way.)
Alright, disclaimer out of the way, it sure looks like this might be a good place to be buying back some of what you sold at the top, don't you think?
Of course, that means that you needed to have been disciplined at the top. (All you HODL folks keep calm, I'm only talking trading here, and that being only a small percentage of the overall long term investment)
Good time indeed to be buying I think. And if it goes lower, even better.
And remember, I'm not involved in BTC any more than to get in and out of crypto and to watch it as the key indicator it is.
Nice actionable post! This looks like a pretty decent entry if one was looking to long BTC. BTC is looking like a descending wedge pattern. As all traders know, it's very difficult to time the market. While BTC looks like it could break out of this wedge pattern at any time now, it could consolidate longer and fall to $9000 shaking out some more weak longs. I'm still of the belief that we consolidate some more leading up to Chinese New Year (2/16).
Thanks for the update and I hope you keep calling out good opportunities to buy and sell!
I'm not so sure that the wedge hasn't morphed into a symmetrical triangle breakdown with a target somewhere around 7,500.
The falling wedge still looks in tact to me, but very close to invalidating the pattern. Prices are gunnin' lower as we speak, but I'd expect a rally day tomorrow. Let's see what happens...
Yep. It's a bigger wedge now, and better defined. Well worth the watching.
Nice, yeah looks like we'll just wedge lower. Though I do hope the low is in. It's very crazy to me that the apex of the wedge pattern falls right around Chinese new year. Coincidence?
Oh lawdy, wish I read this before laddering some STEEM in just then hahah. Revising my bottom from 8.5k to 7.5K for BTC. If this bounces though...okay let's not jinx it. Good luck everyone!
I placed my buy orders even lower. Still waiting for a lower low but, yes, seems good time to get in!
STEEM or BTS? Or both? 😈
Huge buy wall on BitShares for BTS of over a 1/2 million dollars at .415! Thinking I might not get filled. 🙁
Both dude!
Hey, hey, hey. Looks like we got filled! Check out my most recent post to share your best fill.
i also thinks that it is good time to buy ...yesterday i bought 800 steem at 4.05$ and now it is above 5 $...so these dips are good to get some profits....i really appreciate your work and follow your guidance....please keep guiding us,,,
Yes!!!
And look at how STEEM and BTS are holding up! I love seeing individual strength amidst general weakness!
@cryptographic,
You are absolutely correct. I also sold Steem at $6.6. Then buy back at $6.0 few times in last fews days. I have no idea to sell Steem. Because, this is the future. Bitshares, EOS and STEEM are my crypto investment portfolio as yours. I won't loose them. But I want to build or accumulate more. So sometimes I do trading to buy more. Its the best strategy at the moment. Thank you for sharing it with us. Valuable concent to all of us.
In last post of yours I have made a mistake by saying that you talked previously about killer whales. I think it said by someone else. Probably @chitty. Sorry for the misunderstanding.
Cheers~
steem, eos, bts, ada anytime is a buy time. impressive article & btc is not a good place to invest our money. why we bother about them whole we have the best :) buy low & sell high strategy can test on btc, if someone wish. but not a best trade at the moment. valuable market analysis from you. thank you. @cryptographic
@resteemia
I've downgraded ADA. Sold when I thought it got pricey, and said so here on Steemit, and now I'm not sure I'm interested in buying it back. I'm certainly not bidding for it right now.
It depends why are you buying. Buying for a long-term hold or buying for a trade. If you are buying for long-term, jump in - long-term things are very bullish in my opinion.
If you are buying as a trade, you should wait for a good signal, at the moment i don't see to many signals to support a buy. We are below all moving averages, broke support at 10,800 , broke support at 10,300, testing constantly the 10k area. Also looking at BTC on different timeframes, weekly, monthly really shows a lot. I did just that in my latest article, you can check it HERE if interested.
Why do you think it is a buying opportunity ?
I think we're seeing the combination of good trade and good investing right now. There's nothing more rewarding when investing long term than a great entry!
Yes, good entey poimt is half a trade :)
Hey @cryptographic!
It wasn't super clear that you were talking about BTC at the start of the article, so I had to go and re-read it with that in mind... but it does look pretty promising. Not a huge amount of volume... or am I missing something?
Volume is low, and that's a good sign on a pullback, but there's also the old saying that it doesn't take volume for something to fall in price. I think we're looking for something a bit more climatic though, and then some positive volume expansion on a rebound before we can really put too much into the light volume.
I try to LTC for the few moves that I make when acquiring cryptocurrency. BTC was what I used in the past but it just go to frustrating being slow and expensive.
I just watched last nights episode of Fast Money and I really want to see BTC take off to see those looks on their face. They take such glee at Bitcoin crash. They also have no idea that coins exist past BTC, ETH, XRP, or LTC.
These would be totally baffled by Bitcshares and STEEM.
I am wondering if the calendar turning to February is going to have any effect. January was a tough month and there might be a psychological move like there was Jan 1st when the blow off run started.
I agree. It's been a tough month and I think we should at least see a reaction, and most likely sooner than later. The question is what kind of rebound that will be. Whatever the case, I think it should tell us a lot more about the intermediate term. Seasonality is getting better as we move towards March, with 2Q usually being strong for crypto in general. BTC has lost more than 50% of its value in a little under a month and a half. Perhaps it's time to try and rally for a while.
The best case scenario for the top notch Alts like BTS and STEEM I think would be a rally-pullback-rally-pullback sideways trade in BTC and the rest of those well known coins where people start giving up a bit them and start looking elsewhere for better opportunities.
Okay I just bought a bit more....got about 2/3 share of what I want to get...have 1/3 in the keg ready to go if we have another move downward.
Hope I picked the bottom although that isnt likely. LOL
Yes sir! And so did I! Check out my most recent post and let us know what your best fill was!
I still feel this pullback is made worse because there are so many new hands in crypto. These people are not accustomed to a 60% haircut on an asset. If that happens in the stock market, it is because a company is pushing bankruptcy or someone is being indicted.
This only made the situation worse than it was. BTC, especially, was due for a shave. It ran up too quick. At this point, I am going to buy some of the trust that has some BTC in my 401K....Ill be looking at that about midday tomorrow.
We might be getting near the bottom of BTC.
As for STEEM and BTS...it is only a matter of them getting recognition. I feel more secure about STEEM because I am on here each day seeing the growth taking place. I really need to delve into BTS more...not that I am worried about @stan leaving...which someone posted on the article I put up about it that he isnt leaving, only not being so public.
First comment if you are interested:
https://steemit.com/bitshares/@taskmaster4450/mob-mentality-on-display-and-bitshares-loses-a-good-man-good-job-people
If we can hold $10k with good volumes to the upside, I would agree. However, after looking at the charts of the top cryptos, I think ETH could be setting up for a leading the market higher instead of BTC. I would also say to just dollar cost average in if you are interested to getting back in.
ETH certainly is looking strong on a relative basis. That much I have to recognize, but I'd be scared stiff holding it for the long term. But that's just me.
I find it a good time to buy right now, but I don't know why I still believe that the whole market will go down a little more before rising again. Right now I am just holding a little bit of XLM (I am not a strong investor, I know) and it is doing pretty well :)
What would you buy?
Your feeling that it's going lower before moving higher again is in line with TA probabilities - there's lots of sell pressure and that's seen pretty much across the board of my technical analysis toolbox. Right now lots of symmetrical triangles have broken down. The target on the BTC breakdown is roughly 7,500, right at the lower support of the huge range depicted on the chart in my post, and the complete TA picture suggests that this could be an overextended short term low as well. Triangles are also quite often located towards the end of a move.
I can see that indeed the market went even lower and now it seems to be recovering. I don't expect that Bitcoin will break soon below 8000$ but I guess that nobody can tell. I am happy that Steem on the other side got listed on Binance, it seems to be on its way up. Even if Steem is not rising fast, it tends to go up in the top of cryptocurrencies.
Yeah, this might be what we've been looking for in so far as capitulation goes. We might be putting in a double bottom. Did you pick up any more STEEM or BTS? Check out my most recent post and let us know what your best price was.
This might be something to keep an eye on....it seems that @stan is departing.
https://steemit.com/bitshares/@stan/bitshares-enterprise-alliance-part-12-the-godfather-shrugged
Oh man, I saw this and dropped everything once I read his post. What a blow! I hope he reconsiders. His presence here means so much that I can't even imagine not having him around.
Everyone get over there and post a comment telling him just how important he is to us!
Excellent post friend and i also think that it's right time to buy back and hodl cryptos again and i hope the crypto space will start bullish run soon because the Chinese new year also closing and south korea announced that it's impossible to stop crypto and also they won't have any intention to ban crypto, such news surely put good impact on whole crypto space, thanks for sharing your nice thoughts with us, Stay blessed
Although a bit risky now i am using leverage and playing both ways in bitcoin and that is turning out to be profitable for me. But I would not recommend this to someone, becoz this kind of trade is suitable for the one who knows better about TA.
Thank you for this chart and the cross is saying some more down level for BTC.
I think a downspike will happen towards 5500 in BTC which may be short lived and some strong recovery will happen after that.
Today I sold some steem as the market is not very encouraging. So lets see if I get a chance to buy steem at 2.5 or 3 usd per steem on the downside level, but one thing is sure that we are in a bear market, as daily candle is getting lower low.
Thanks @cryptographic.
I actually just put a little more into Bitcoin. When looking through last year's data, I found that BTC also dipped last year to its low point for the year in January. My running hypothesis is that cryptos run counter to the January effect, which is when stocks tend to rally after the December selloffs you see. My instinct is that people are putting more money into equities from crypto coupled with their fear of cryptos being investigated, etc. Obviously need more data but I could see a nice rally in the near future for BTC.
@cryptographic yes its a great time to buy!
Speaking about Steem, since its staying on the $4.90 to $5 level, it is holding well, perhaps its not the best moment to buy (it was earlier or yesterday at $4 - $4.35). Or perhaps this is a sign that steem and bitshares will go up to $8 or $10 once the dip recovers in the next week or 2 weeks?
Regarding the SMTs do you have some news on when they maybe launching?
Regards, @gold84
@cryptographic Might I suggest putting in a small investment for yourself? Better than sitting on the sidelines.. Also * I'm not your financial advisor * :$
"Bitcoin can reach $ 60,000 by December 2018," says Mike Dumont, senior editor of Bitcoin.com.
Mohammed Tayeb, one of the senior executives of Medicalchain, has an opinion similar to Dumont. "Bitcoin can reach $ 50,000 by the end of next year," says Tayeb.. @cryptographic
That's exciting.
I'd say delusional, but hey, that's what makes a market. ;-)
Hahaha, who wouldn't want to buy into a currency that takes a full day to transact?
I in reality simply put somewhat more into Bitcoin. When looking through a year ago's information, I found that BTC likewise plunged a year ago to its low point for the year in January. My running theory is that cryptos run counter to the January impact, which is when stocks tend to rally after the December selloffs you see. My impulse is that individuals are putting more cash into values from crypto combined with their dread of cryptos being explored, and so on. Clearly require more information yet I could see a pleasant rally sooner rather than later for BTC
@cryptographic - Sir I don't know & I'm not checking BitCoin price graph now... I'm interesting to buy Steem & BtiShares Sir... Yesterday I got a chance to buy Steem @ $4.50 & within hours it made a nice profit level. But I'm still holding it & I think Sir Steem & BitShares will go to the moon in end of this year... Therefore I'm collecting them Sir...
buying as low as you can - to limit your risk - and selling as high as you can - to also limit your risk
Sir once you told me sell in rallies... I'm selling in rallies now... In that method I don't want to feel bad about my decision Sir...
If someone decided to follow your trading tips & rules, he/she'll end up as a millionaire in short time period Sir... Nice you decided to share your extended knowledge...
+W+
This is an appropriate slogan "buying as low as you can - to limit your risk - and selling as high as you can - to also limit your risk". Market is dancing from last 15 days sometimes up and another time down.This is good thing because buy when it is low and sell when it is high like mentioned in the above slogan.
what about ripples what should we do with that .. like the post
@cryptographic I can't see the point .
We have to curate not only make money .
Bah ##Upvote/Resteem###
What is your suggestion ...what should be done....should we wait for it to rise more.....or should we sell it....
If I was going to buy bitcoin I would buy it when it stops falling.
Thanks @cryptographic, as someone relatively new to all this, I've had a hard time pulling the trigger on selling at the right time, and have bought at times when coins were too high. I'm still up after getting in mostly this month, which I consider a win with the January we had.
My question is, how would you suggest someone start out day trading? What kind of signs do you look for when you are going to sell?
There have been a couple coins, like VEN, NEO, EOS, that I own that saw some great highs, but I didn't capitalize by selling those highs and held instead, which I'm ok with.
Do you just look for upcoming news? Do you sell right after the news hits and wait for the drop before re-entering? Any help is appreciated! Thanks
Excellent analysis @cryptographic. In this blockchain can't predict anymore. But I already believe steem tokens yet. Yeah. I agreed with you. This is a time for buying because price was down. Steem best for the long-term investment. New coin come to crypto market and should show top gaining. But I can't trust them almost steem. Buy and just HODL better way. After SMTs coming out steem can be top. Then start gaining we can trade more price. Thanks for opinion.
Buying low selling high sounds good . But it's really tough to time the market .Nobody thought btc would reach 20k , few months ago a 10k in 2017 end seemed like a miracle .
That's why i Hodl most of my portfolio but i use 30% of my portfolio for day trading , successful traders make way more than Hodlers but it depends .
For me right now it is like ths but i am learning some TA's and ew waves to improve.
You need to start by reading my Buy low, sell high post. https://steemit.com/investing/@cryptographic/buy-low-sell-high
Ty i will check that out .
As always thanks for sharing your vision @cryptographic!
And as always I have a question. Looking at the recent history of BTC and Alts, I'm thinking about the idea to throw my trading balance into BTC, at lowest possible prices. Sit in BTC until it gets pumped. When BTC calms down it might be a good time to switch to Alts.
My point in trying to maximize the profit minimizing the risk. When BTC gets dumped - usually you loose less $ when you're in BTC comparing to HODLing Alts. When BTC gets pumped - it seems to be profitable to sit in BTC, cause alts are being dumped (although its $ valuation might be rising a little).
And Alts are pumping when BTC gets stable. We've been able to observe this during the October-December 2017.
What issues/drawbacks do you see in this strategy? Advice from you is always invaluable! Thanks!
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Hello @cryptographic,
Extraordinary good market advice.
buying as low as you can - to limit your risk - and selling as high as you can - to also limit your risk.Professional traders advice you provided to us. It revealed your vivid knowledge in trading. Specially fundamental & technical analysis. Moreover you said BTC is out of your investment portfolio. It's a wise decision. Incredible article you provided to the community at this junction. Thank you.
~@mywhale
already bought it just before looking at this post and now i am very happy with my decision :D
The market is still yet down ,hope it recovers and it sure seems like a time to get in !
It's very interesting to read your articles after a while. I look after 2 days and understand that you were right when they said that when the price goes down, it will be the best time to replenish stocks.
A lot is happening in crypto world and people are panicking. Here is an interesting gif:
A simple rule: never invest what you can't afford to lose. Crypto currency is going to stay so you only lose if you sell during dips. HODL and you win. If you're a trader, you must keep some extra money in Thether to buy during extreme dips. Great post @cryptographic.
Steem On!
You never lose if you don't sell at low price. #HODL. This dip will be over and BTC will bounce back with fullest power.
Coming soon:
Nice post
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- @steemithero
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Yes dear my friend in my point of view also its a correct time to buy the bitcoin or any other cryptocurrencies present in market all the coins are in low prices from last 2days same situation was happend in last few weeks back also its got me to some fear because of the sudden fall ..i hope the prices will be raises within few days and in my view dont sell the coins which hold on ours and buy if you can definitely in few months after all steem and steem doller costs are grow very high and all we are get profits..thank you for sharing with us..
Mr. Magoo found these accounts are suspicious & can be multi accounts of a single owner. Conclusion is based on word pattern - `i`, `plz`, `..`:
- @durgaani
- @kiranmaidurga
- @steemithero
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@cryptographic...yes bro i am so thinking the same..present in market all the coins are in decresed state of prices.. i want to buy some litecoins today ..but i have a little fear why these coins are fallen in every 2 weeks and suddenly raises and falls with our major reasons..if you know plz tell me bro..i am thinkimg that the main reason is bitcoin and other cryptocurrencies banned in some countries..and in some countries banks suspends tradings recently...any way i hope that it will come to normal state in few days and again market get stable and get good profits ee all are if buy now..
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I dont have a realtion with these accounts ..plz dont decreses my reputation...
Very good information! I really think that there is a lot of downward pressure as retail investors have started to get it, they will probably look to sell as they get back to breakeven up top. However, there are still a number of catalysts that could help the price come up. In particular, the approval of ETFs which should have potential given the recent CBOE/CME futures launches could lead to even more interest in the BTC market.
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- @shuvrokhan
- @rahuljoy
- @sohelkhan007
- @rockykhan
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I feel like we have built good support in this range and hopefully we will be making another climb to the 20k ranges very soon, surely by the end of the month. We had to drop some at the end of 2017 so that we could start out 2018 with a steady increase. That's my thoughts any ways. Great post, thank you!
Mr. Magoo found these accounts are suspicious & can be multi accounts of a single owner. Conclusion is based on last 30 days transactions:
- @anikhassan007
- @anik-hassan
- @fazlehassan
- @kinggo
- @shuvrokhan
- @rahuljoy
- @sohelkhan007
- @rockykhan
- @alex-linda
- @anik1998
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Thanks to your strategies and techniques I decided to focus more on those technologies. It worked well and always too.
Cheers~
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- @anikhassan007
- @anik-hassan
- @fazlehassan
- @kinggo
- @shuvrokhan
- @rahuljoy
- @sohelkhan007
- @rockykhan
- @alex-linda
- @anik1998
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Great post! Risk management is always key in great investing. I enjoy reading your post but actually got a bunch of information from the comments section because you reply so much which is awesome! Thanks for being engaged with the community.
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- @anikhassan007
- @anik-hassan
- @fazlehassan
- @kinggo
- @shuvrokhan
- @rahuljoy
- @sohelkhan007
- @rockykhan
- @alex-linda
- @anik1998
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You have spoken very importantly.
But I think we can have all the other coins but we can.
Why do not we see the collapse of many days in the market. If there is a bitcoin banned for a reason, then other coins will not be banned.
And no other coins can stop for this.
But the effect of yes will be on top of Marquette.
So the rest will not stop, maybe it's a little problem to trade now without bitcoin, but at that time maybe other coins will consume the mortar.
Whatever you have learned from my post, many things have been cleared on my small head, so I have said that you make a big dealer mistake, you will see it in forgiveness.
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- @anikhassan007
- @anik-hassan
- @fazlehassan
- @kinggo
- @shuvrokhan
- @rahuljoy
- @sohelkhan007
- @rockykhan
- @alex-linda
- @anik1998
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yaaa i also agree with you..... nice comment....