This feels like a good selling spot ~459 for a quickish trade. I will buy back at ~421 or so within 72hrs.
This is unbelievable recklessness. There is a chance that we have just now passed the bottom and that 421 will never be visited again. Even if it is, the gain is not too big, too many uncertainties, and the volume is not there - I couldn't even make such a trade due to low volume.
Quick TA update:
- 6H candle color/volume: not much volume lately hard to say anything, conclusion: can go either way
- Bid/ask strengh at market: slippage to sell 5k: $35, slippage to buy: $60, conclusion: potential for quick upside move
- Trendline comparison: we are now at -0.322 log units. The trendline is at $966 and rising $7 per day, conclusion: rock bottom (of all of the time between the 4/2013 and 11/2013 peaks, only 2% (5 days) was spent this low)
- Sentiment: I was out for 4 days, so cannot evaluate the sentiment now
- Prognosis: 400 is the critical level, if it holds, upside is sure - if it falls, there may be a flash crash to lower levels. Holding above it has in my opinion strengthened my bullish view, although the critics say it is just a preparation for an assault to 400. I don't believe the masses who sell at 400 even exist, and the trendline strongly indicated that this is a bottom.
Thanks Risto. I think we are pretty much at "rock bottom" too, but having you say it brings more validity to my "feelings" for sure. I am staying calm and even buying a little right now, which I had a really hard time doing last Summer when it got so low. I was able to "hold" but I had a hard time convincing myself, and BitChicksHusband, to buy any more at that time. Granted, we had little extra cash laying around to do so anyways so perhaps that was part of it too. But I think I have learned from the past year how to manage my emotions when it comes to these swings, which is a huge part of how to succeed in this. What is really weird is that I am not that worried at all and feeling more excited than anything! I can't wait for the next run. This next run up in price could be truly life changing for us (as for many that joined in last year).
