Summer Boom is about to go bust! Buy opportunity in August!
** I am an experienced trader that looks at the long term. I'm often right and sometimes wrong. I do not rely on specific technical indicators, but look at long term patterns. If you're just here for short-term gains, better move along, partner. NOTHING TO SEE HERE! **
I have been trading altcoins since 2013 and am quite comfortable now. I have always been trading bitcoin based on long term patterns and in the mean time just traded alt coins. With the high dominance of bitcoin, I do not see altcoins gaining a lot of ground before the end of the year. It is quite likely bitcoin will keep increasing in value until mid December. Alt season will be in early January.
Over the years, I have noticed that each summer we reach an enthusiastic peak of the market after which we have a late summer drop which is an excellent opportunity to buy again. I'm selling now to buy back 50% more btc around 6000-6200.
**THIS IS NO TRADING ADVISE :) **
I have been trading altcoins since 2013 and am quite comfortable now. I have always been trading bitcoin based on long term patterns and in the mean time just traded alt coins. With the high dominance of bitcoin, I do not see altcoins gaining a lot of ground before the end of the year. It is quite likely bitcoin will keep increasing in value until mid December. Alt season will be in early January.
Over the years, I have noticed that each summer we reach an enthusiastic peak of the market after which we have a late summer drop which is an excellent opportunity to buy again. I'm selling now to buy back 50% more btc around 6000-6200.
**THIS IS NO TRADING ADVISE :) **
Comment:
I expect the drop to happen either on a Friday or a Monday. Bitcoin usually peaks the day before that to drop the next day. I cash out to usd on these peaks and buy back on Tuesday or later on Friday. This at least gives me the opportunity to buy back at a slightly lower price.