Re: Wall Observer BTC/USD - Bitcoin price movement tracking & discussion
I'm going to start to panic soon. I don't like it when Bitcoin goes down a lot, then doesn't come right back up.
Some perspective, Rosewater:
Bitcoin has remained above $10,000 for only 20 days now, and above $15,000 for 10 days. (Bitstamp)
It has traded above $18,000 a whopping 4 days, only 1 of which it remained above $18,000 all day.
Bitcoin IS up, and remains bullish AF. You just need to zoom out on the charts. Start looking at 1 day candles, instead of 1 min. Go for a walk. Try and forget about Bitcoin for a week. A month. A year if you can. Go on vacation. It'll still be here when you return.
The problem with zooming out to the 1 day chart is I see 6 red candles in a row. Perhaps I should move all my measly BTC to exchange and cash out. I'm sure that the moment that I do that, this will be pumped through the stratosphere again.
Something like that would be consistent with your historical practice and part of the reason that you do not have very many coins - because you tend to do the opposite of what you should be doing.
As painful as it is, get into the practice of buying as the price goes down and selling as the price goes up....
Life will get better, especially once you get into the groove of it.
Don't get me wrong, it still can be stressful to experience rapid price movements, but it is less stressful to be buying on the way down and selling on the way down, than to be doing the opposite.