Bitcoin continues downtrend. According to channel shown based on local highs and lows, we are seeing a fall to the downside of the channel right now. Selling now, and recovering at a lower cost could be advantageous.
Volume shows DECLINING support/amount ... which tells me current bulls are not willing to push price up, and sales are still slow for this price point.
I am an amateur trader, do not take this chart as advice, or guidance, merely my perspective.
Amateur but not foolish. Looks to me like you're doing just fine.
altcoiner11
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@cryptospawn, Cheers ... learning and growing every step of the way. One thing that I've seen is most vital is testing your strategy ... with paper trading, and executing trades with small portions of your holdings ONLY. There is a statement I read that 90% of traders lose 90% of their money in 90 days ... which has been true for me in the past ... despite long term gains.
@altcoiner11, My friend I can tell you a very scary story about crypto losses and tax debt. But I'd rather you sleep tonight. It will suffice to say I am counted in the statistics of people who lost their rear end in January 2018 and are now in tax debt and bag holding. Most traders in my position have filed for bankruptcy but I refused to go that route because I would have been forced to liquidate all my crypto and eat the debt outright. Instead I figured trading wisely would get me back on track slowly. And it's working so far.
One thing everyone advises is to trade only what you can afford to lose. But what no one mentions is that capital gains can produce a tax debt that is unbelievably large and if you don't manage to hold on to your capital gains then you get to eat the tax debt which means that even though you traded only what you can afford to lose you could end up losing more than you bargained with in the form of tax debt. That should be gospel in this cryptosphere.