Hello my fellow Bitcoinistas!
Wow what a ride of late. As you can see on the weekly chart the 20/40 moving averages, once crossed, do not uncross until the bull run is over. This could take years.
You will also notice that the 20 week MA is about $8,300 right now while the 40 week MA is about $6,100.
Anybody still calling for sub $6K Bitcoin must be smoking crack or something. That's the only logical explanation and it should be illegal.
Can you still buy and sell this market for short term profits? Sure you can. But are you consistently that good? I'm not. I'd rather just buy the dips and hold on. It's been a winning strategy so far because I DO NOT SEE BITCOIN EVER GOING TO ZERO. It is here to stay. BILLIONS HAVE BEEN INVESTED INTO BITCOIN by people with far more money than me. That's all I need to know.
But like it was said long ago: "All good things come to he who waits." Well I've been waiting for years and I'm still willing to wait awhile longer. How about you? Are you willing to wait or do you have to have it all right now? If you need to have it all right now then take your profits and make room for those who are willing to wait. I want to know that my new peer group went through similar trials and tribulations like I did to become wealthy. That way we all have similar stories to tell, reflect on, and laugh about. I'm not looking to hang out with some Johnny come lately who just happened to fall ass-backwards into a good trade. They're a dime a dozen.
Thanks!
Wow what a ride of late. As you can see on the weekly chart the 20/40 moving averages, once crossed, do not uncross until the bull run is over. This could take years.
You will also notice that the 20 week MA is about $8,300 right now while the 40 week MA is about $6,100.
Anybody still calling for sub $6K Bitcoin must be smoking crack or something. That's the only logical explanation and it should be illegal.
Can you still buy and sell this market for short term profits? Sure you can. But are you consistently that good? I'm not. I'd rather just buy the dips and hold on. It's been a winning strategy so far because I DO NOT SEE BITCOIN EVER GOING TO ZERO. It is here to stay. BILLIONS HAVE BEEN INVESTED INTO BITCOIN by people with far more money than me. That's all I need to know.
But like it was said long ago: "All good things come to he who waits." Well I've been waiting for years and I'm still willing to wait awhile longer. How about you? Are you willing to wait or do you have to have it all right now? If you need to have it all right now then take your profits and make room for those who are willing to wait. I want to know that my new peer group went through similar trials and tribulations like I did to become wealthy. That way we all have similar stories to tell, reflect on, and laugh about. I'm not looking to hang out with some Johnny come lately who just happened to fall ass-backwards into a good trade. They're a dime a dozen.
Thanks!
Trade closed: target reached
What I will say is this last move is looking very impulsive NOT corrective.
What does that mean? Even if we have a significant pullback higher prices are in our future.
If you are a day trader that does not help you at all, I know. So it is your job to figure out when to jump out and when to jump back in.
As for me, I'm just going to ride it out for now until I have a clear reversal that I might be able to play.
Being a long term Bull is Cool. I don't care if I get "STUCK" in my current position. I've been stuck long for years..... :0)