Something to be aware of. I have mentioned a potential inverted cup and handle awhile back maybe 3-5 ideas back...well with the latest drops we broke under that inv c&h's rimline which triggered a steeper fall. This is an incredibly deep cup and if it were to reach 100% of its projected target it could send us all the way to 4-.4.1k We have seen many normal cup and handles recently that have not reached 100% of their target however but we have also seen ones for example tron who have far exceeded their breakout target. So it's very much worth being aware of. At the same time there is a slight chance we could see a triple bottom form with February and April's lows and go skyrocketing back upward...or even just a double bottom with April's low. Definitely a difficult time to decide to be bull or bear...so in these instances it's best to follow the higher high/higher low principle as well as the lower low/lower high. By going by that principle alone it's not the wisest to enter right now...If you are hoping to potentially catch the double or triple bottom it may not be a bad idea to enter with a tight stop loss though. However it's best if you make your own decisions because this is not meant to be taken as financial advice. Good luck in whatever you choose and may the probabilities be on your side.
It's not that hard to decide. I'm a BULL long term and a BEAR short term. If I miss an entry or exit I'll just hold on for the long term. We are SO CLOSE TO THE BOTTOM that jumping in and out at some point will make NO SENSE. Personally I am limping in a couple fractions at a time at each support level. Holding the remainder of my wad for the final bottoms of bottoms. AND, if bitcoin goes to zero then so be it. I will have already committed all I am willing to lose to the NEW crypto currency. HERO or ZERO is my crypto mantra. I've been accumulating bit-coin LONG before most of you even knew it existed. I'm cool with that.
DrDovetail
⋅
@Kwa, I like your strategy. I first knew it existed in 2010. Downloaded the entire ledger in 2012 but never pulled the trigger until last year. Laddering in is wise at support levels. I plan on riding this next bounce and seeing how high it goes...if it is simply nothing more than another lower high which is likely what it will be I am out with a stop buy set up just above my exit....if we then only dip far enough to form a higher low I will wait for a follow up higher high to jump back in and be more confident. I am currently back in and jumped back in at 6.5k and made a nice little accumulation from doing so. I would probably hold and only buy dips from here if this inverted cup and handle pattern wasn't so in our faces. I too am bull long term.
VaidoVeek
⋅
Very solid find and yes - looks like we heading down if we don't get a quick bounce up from here!