Wow Bitcoin. Well done. But all good things must take a rest. This is the perfect opportunity for a pullback to the target zone, which represents an 80-90% fib retracement off the current cycle. $3000-3050 seems likely....then look for long opportunity once again. Also notice short term head and shoulders, supporting a turn down.
Also, expect a quality altcoin rally in the meantime. Confidence has been somewhat restored in crypto, and I see a good portion of this money returning to alts.
Oh man, I hope you ain't still in this. This is crazy, man. Alts are devastated, BTC is killing everything.
MarkCanna
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@buffwea, Shit no not in this, got out when it broke downtrend. Amazing strength...unreal. Alts are definitely devastated. Just when you think you've got it figured out. Need to get better at updating my positions on here.
buffwea
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@canatrader, I've got alts in cold storage and I'm starting to wonder if I should spend the time to cut my losses on them. ugh.
MarkCanna
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@buffwea, I'm having the exact same thoughts. At least most alts are flat vs. Fiat. That's how I feel good about this situation. Will use next BTC correction to diversify a bit out of alts. As long as you're holding quality alts that will stand the test of time, you're doing ok imo.