I checked the charts before cycling home from work, and I checked them again when arriving home and I said to myself: LOL WTF?? :D And here came the aforementioned big guy, who triggered a hilarious buy which kicked up price by 10% in a matter of moments. Regardless of whether I am happy or not with seeing a higher price again, this market is becoming a big joke. Unfortunately, a very dangerous joke for the little investors.
These are the events that even the most brilliant analysts couldnt foresee. Why? Because its purely arteficial in nature. These events are the reason why I called btc "b*tchcoin" in one of my previous analyses. It is being eff-ed around like a shitcoin. Im feeling sorry for seeing the market and the brilliant idea behind it being tossed around like that. But guess we have to get used to it. Anyway, I still love the whole background and concept, regardless of the greedy whales.
As said the whole sentiment was pointing downwards even according to the most talented. Now came the answer from a big guy: Noooonononono... Lets see how an arteficial move going straight against all logic can work out. I am afraid that people are still not noticing the obvious. Its like if someone is showing a chocolate to you, saying that its yours, and when you get there you get a slap. Then he shows the chocolate to you again, and you go there again. Guess what will happen.
So your saying short?! I have no idea whether I should buy or short right now this is killing me
LouvenIa2019
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@kierm1995, its buy zone, wait for the dip and go long. BUT of course, use your own due diligence. Take any suggestions with a grain of salt.
Jucsik
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@kierm1995, thank you for your comment, I really appreciate it! What I wanted to point out with the chocolate scenario is that it seems like many are so enthusiastic that they dont notice how strange and hectic this rally is. I personally think that the whole rally should be taken with a good amount of soda, or people will get drunk and euphoric. As it happened now in the buy direction, a similar whale can trigger a similar sell anytime. Its useful to be aware of that when setting stop losses etc.
About short or long...
I just post some thoughts and sometimes a little psychological point of view.
I admit sincerely, as I did in previous posts that my knowledge of true trading analysis falls behind compared to many here, thats why I dont really mention technicals.
But I can with good heart recommend the professionals who I am following! Its great to see their work, maybe you will get some ideas from them!
But even they will say that their ideas are not trading advice. Which is not surprising in this space. But you can put together a good idea with their help, put your own spice on it, and voila! The decision of long or short ready ;)