Buddy is done with sales for a while.
I'll do one BuddyBlocker for you, Phil. You probably fell asleep, anyhow. Not Buddy. You, Phil.
I wonder about Buddy being on a potentially temporary break from bitcoin sales.. fire sales perhaps? There does seem to be support, but yeah we can sometimes start to feel momentum too.. so momentum for down? is such downity momentum possibly in the cards?
That was a bit of a bounce at right around $114,518 (our current local bottom)... So yeah, a reprieve for now, and it is difficult to know any real reason for such correction, except that bitcoin never goes completely straight up, so frequently there are needs for the breaks in the UPpity, whether for a few days or maybe a few weeks..
I realized that my buy orders were in the mid $115ks and not in the lower $115ks.. . which either way is o.k. and does not make a lot of difference to me since they are kind of formulaic... and they either fill or not.. so right now next buy order lower $112k, and next sell order is mid $119ks.. and yeah, currently selling almost same dollar value and buying back same dollar value, which largely means a certain portion of extra BTC are accumulated in the process, but a few orders do not make much of a difference, even though 10 orders make more difference.. in the whole scheme of things.. but these days, 10 orders might span over $35k on the way down, yet getting close to spanning over $50k on the way up for 10 sell orders.
It does make a BIGGER difference if the BTC price were to correct like 25% or more, but even that would be a bit of a distraction, since sometimes we will get fairly deep corrections, and they will play out rapidly. On other occasions, we will get stuck in the downity area for a few weeks or even a couple of months...
On the way, we may or may not get an interruption of corrections, but yeah, likely the bears would have to get beaten up several times in order to incentivize them to stop placing sell and/or short orders..
You brought up a lot of ggod points. This dip around 114k definitely looks like a local bottom bounce. But as we've all seen before, Bitcoin doesn't move in a straight line. A bit of sideways and even a deepper retrace wouldnt be shocking. Especially with some people eager to sell in strength. Fire sales? Maybe. But I think the temporary breaks in an upward trend are where the strong hands Step in.
Your strategy with the staggered buys and sells really makes sense as it's a calm and calculated approach in an emotional market. This kind of system-based DCA+laddered-exit plan can quietly gain while everyone else is trying to time tops and bottoms. Even if each individual fill doesn’t make a massive difference, over 10+ cycles it really starts compounding and showing itself.
And yes, The corrections of 25%+ can shake he tree really hard but like you said its part of the process. Whether we get a V-shape pattern or grind down steady these phases will work to reset leverage and get rid of weak hands.
In the end it's still a game of patience and positioning. The bears might feel bold for a bit but they'll over stay their welcome.