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Topic
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Merits 3 from 1 user
Re: Wall Observer BTC/USD - Bitcoin price movement tracking & discussion
by
JayJuanGee
on 16/06/2022, 21:57:03 UTC
⭐ Merited by fillippone (3)
200 MA Weekly was my initial plan in Feb 2022 and it already got executed. Price is currently under it as of now.
I think Greed is taking over people's mind and they are now waiting for more crash.

No one can time the market accurately so $20k is the best buying possible as of now according to my analysis.


my lowest buy this dip was at ~24.5k usd. if this is the bottom thats close enough for me. it was a buy i had set up months ago and i actually forgot about it till it triggered.

ive been on cruise control for a long time and dont try to time anything. seems to work well enough.

edit: i though i saw cramer on squawk box a couple days ago say he sold the last of his bitcoin when it was ~20k. pretty good indicator to me lol


On the face, what you have done seems to be a pretty hands-off approach, and gosh at these prices, hopefully we have enough cash in reserves.. otherwise we may well have to sell some bitcoin merely because some expense or funzies thingies coms up.. or we want to live rather than wait around in terms of some purchases that we might want to make. whether they could be put off or not.. even though it may well have been preferable to just wait it out... and go into a kind of wait until theBTC  price goes up .. but does it matter if we have some kind of an expense that we would like to cash out a bit.. just because we can?

 and some of us might not even be very price sensitive.. you might be somewhat better than me.. if you are thinking that your costs per BTC is either in the lower three digits or even in the two digits.. but I am thinking that I am better off just to presume that my costs per BTC are around $1k even though realistically I am likely just playing with house money at this time, anyhow.. but still I tend to like to create a kind of frame work for myself and to just like to consider $1k as my expense base.. just to try to keep myself in check and not get too carried away with any kind of BTC spending spree... just because I can

On the margin.., we must be entering into these kinds of calculations to either HODL or to error n the side of buying BTC at these prices and not to get into any kind of meaningful selling situation..

so let's say for example, we had ladder buys all the way down to $28k-ish.. and we thought that $28k... would be the bottom.. but we had one or two saving grace BTC buy orders down to $24.5k.. so then in some sense we have run out of money that had been authorized for buying back BTC, but for me, I ran out of the money that had already been authorized for BTC buys when getting towards the lower $20ks.. but I added to my authorized amounts.

maybe I am talking somewhat out of my own experience because surely we may well be similar in the sense of having had considered BTC buy orders below $28k were not very likely to fill.. but then now we are in a space where they did fill... and you just left everything alone, and I set up some more BTC buy orders to buy lower.. or continue to buy on further dips, if they come, even though I had not previously authorized that money for BTC buys.

From my point of view, it is a bit of a dilemma - because I could just go into a kind of HODL status . . and then NOT use any of that previously not-authorized cash for further BTC buys, in the event that the BTC price dips more.. which may or may not happen.. down to $18k or $19k?  50/50   hard to say...   Maybe it is just fun for me, and there is some kind of optionality to keep the buy orders going.. perhaps?  perhaps?  There is a kind of thrill to never run out of buy orders.. I will admit that part. but it probably is ONLY really objectively fun if the BTC price ends up bouncing back.. if it never bounces back (like Peter Schiff keeps telling us) those of us who keep buying BTC all the way down are really fucked, no?