Re: Speculation Rule: buy when others are irrationally pessimistic or too cautious
@OP:
technically we have a double top formation with the lower second top on the chart for this year. This looks technically ugly, and I guess correction is imminent.
how about that? Do you still think it is a good buying time?
technically we have a double top formation with the lower second top on the chart for this year. This looks technically ugly, and I guess correction is imminent.
how about that? Do you still think it is a good buying time?
"Buy when others are irrationally pessimistic or too cautious"
Do you not see the uptrend? That imaginary "double top" is just the unavoidable intersection of that powerful uptrend with the prior Bitfinex hack (likely an insider "hack" where the exchange is shorting and did the hack).
that is the time when price is at the lowest (with the exception of weird unexpected stuff like bitfinex hack and the drop).
The Bitfinex hack overreaction was another buying opportunity.
In the short term, anything is possible. There could be a hack or something which could create a sell-off and buying opportunity. But that uptrend line will over a long enough time horizon remain intact.