Let me preface this post by saying that I am NOT a professional trader by any means and I won't ever claim to be. I'm just a young man that seems to get things right 50/50 at a rate of 36.9%. For example, I turned $1000 into $21,000...And then into $6500 a few weeks later. Take what I say with a grain of salt.
This post will not be riddled with guess and check TA, 'to da m00nz!' hype or doom and gloom FUD. This is purely MY opinion of how I'm viewing BTC long term.
I do not think we've seen the bottom. As a matter of fact, I think that we're far from it. Like, $900-1100 type bottom. If you look at BTC's history at any specific time period on the chart (my view is one week), you can see that, since December of 2017, we have been in a steady decline. Duh. The problem is that we have consistently been breaking down through support levels, staying there for a few weeks, climbing back up a little bit (or even nearing the original support we broke through) and then falling right down to the next one.
For over an entire year, we have seen decreased volume and constantly lower highs. With that being said, I think we will continue to lose volume as people get scared to buy as the price keeps falling. So...yeah. Seems pretty simple, especially when you can look at any graph of BTC and see that.
From Dec. 2017 - Dec. 2018, we saw BTC decline from $20,000 to $4000. That's a 400% decrease in a year, or roughly a 33% decline per month. At that rate, we could see BTC at $1000 or less at around mid March 2019. It could also be later rather than sooner too. Some months may be an increase, some may be a heavier decrease. I think we'll see it near the summer of 2019.
The reason I felt obligated to share this is because even from the 'professional' traders on here, all I see fill up the idea section is extremely positive, bullish TA. Nothing wrong with being optimistic, but when the overall trend says otherwise, I think its silly to spread false hope to average Joe traders that look up to you and, even though they shouldn't, invest on your words.
I still believe in the future of BTC, but I also think that we'll see it get to or below $1000. I personally am moving my position out of BTC and into fiat and will be setting up some buys starting at $1500 and below. Remember that it isn't about what you make, but what you keep.
Best of luck to everyone out there with your trades. All questions, comments and criticism are welcome.
At the end of the day, just remember that its either going to go up or its going to go down.
This post will not be riddled with guess and check TA, 'to da m00nz!' hype or doom and gloom FUD. This is purely MY opinion of how I'm viewing BTC long term.
I do not think we've seen the bottom. As a matter of fact, I think that we're far from it. Like, $900-1100 type bottom. If you look at BTC's history at any specific time period on the chart (my view is one week), you can see that, since December of 2017, we have been in a steady decline. Duh. The problem is that we have consistently been breaking down through support levels, staying there for a few weeks, climbing back up a little bit (or even nearing the original support we broke through) and then falling right down to the next one.
For over an entire year, we have seen decreased volume and constantly lower highs. With that being said, I think we will continue to lose volume as people get scared to buy as the price keeps falling. So...yeah. Seems pretty simple, especially when you can look at any graph of BTC and see that.
From Dec. 2017 - Dec. 2018, we saw BTC decline from $20,000 to $4000. That's a 400% decrease in a year, or roughly a 33% decline per month. At that rate, we could see BTC at $1000 or less at around mid March 2019. It could also be later rather than sooner too. Some months may be an increase, some may be a heavier decrease. I think we'll see it near the summer of 2019.
The reason I felt obligated to share this is because even from the 'professional' traders on here, all I see fill up the idea section is extremely positive, bullish TA. Nothing wrong with being optimistic, but when the overall trend says otherwise, I think its silly to spread false hope to average Joe traders that look up to you and, even though they shouldn't, invest on your words.
I still believe in the future of BTC, but I also think that we'll see it get to or below $1000. I personally am moving my position out of BTC and into fiat and will be setting up some buys starting at $1500 and below. Remember that it isn't about what you make, but what you keep.
Best of luck to everyone out there with your trades. All questions, comments and criticism are welcome.
At the end of the day, just remember that its either going to go up or its going to go down.