Post
Topic
Board Speculation
Re: rpietila Wall Observer - the Quality TA Thread ;)
by
sgbett
on 31/03/2014, 10:24:59 UTC
We have seen the ups and downs and have realized it all works out in the end.  Wink
This is the great delusion that markets bestow upon people, that a trend is invulnerable and "it all works out in the end" almost sounds like religious faith. I know that nothing I can say could possibly make you think otherwise, but still, please consider how you would react if Bitcoin slid 80% or 90% from here during the next 6 months. Even if the probability is small, are you ready for it?

Because this has happened before, and it happened in this very asset (even if you tell me that times are "different" now – well, to compensate, the price is higher to begin with!). I remember that time well. At the time, there was a long-term log support trendline, too, that was being drawn by everyone in this forum. It was violently BROKEN:






not from a ta perspective but from a psychology perspective, so many people have seen BTC bounce and rally that i think it is hard for people to truly capitulate. i think thats why the selloff has been slower and more gradual (bit like 2011).

so bottom could  be in, or it could be still a long way to go. either way the last thing i would do right now is sell, and (traders look away now) the best thing to do would be to be buying. insert standard "it could go to zero, don't risk what you can't afford to lose". I'm holding.

(and stacking a little silver too. pretty good prices if you ask me.)