Were You Long Bitcoin?
If you read my article yesterday you saw that I started to shift back to Altcoins and I took some profits. Someone PM'ed me this morning and asked me how I knew it was time. Well, the first thing is nothing goes up, at that kind of rate, without correcting. The second thing is that I have friends that trade for a living. These guys know the ins and outs of trading Bitcoin.
Hold Off on Buying That Lambo!
Now I know many folks thought they could afford a Lamborghini soon. You will be rewarded my friends if you stay level headed and do not buy into the FOMO. Stay calm and rational. It is the ones who buy using emotion that get REKKT!
Will Bitcoin Recover?
Of course but we could see a nice correction over the next week. Be ready and enjoy the ride!
Great time to buy!!!
Definitely got to know when to hold 'em and when to fold 'em. I've never seen anything else appreciate in value so quickly like this. I'm sure a correction is coming sometime, but how much of a correction and how much will it rebound afterwards?
I've been doing the same thing the last few weeks - looking for promising alt-coins to flee into, particularly price depressed ones.
Kinda missed out on Neo though. =/
I'm not sure what's going to happen exactly but I'd be reluctant to sell now because I think we'll see the price at or near $5000 in the next couple of months
That is possible
It's a wild ride we're on. Buckle up.
Have you seen my Bunghole? My people; we are without Bungholes...
Well it's a good thing that I haven't invested into Bitcoin that much and decided to just focus on alt-coins for a while. But you sir my hats off to you, you saw it coming. :)
Great decision @hilarski sir, it's good time to move to alt coins instead of bitcoins.
I want to see BTC in 2000 again to buy as much i can, 13000 for february looks very real man
@hilarski,
Two thumbs up friend! Actually your hints works perfect! Sometimes I might feel reading a puzzle (My bad) :D But your tips are really accurate and working perfect.
Thanks again for this useful information. Really appreciate your work!
Cheers~
No problem, I will always let you guys know what is happening. I am blessed to have some amazing people in my life that guide me in trading so it would be selfish of me to not let you know.
@hilarski,
Thank you very much friend!
That was a smart move for sure to move into Alt coins
That's why we call you an EXPERT ;D
Thank you @Blazing. It really is not that difficult if we take the emotions out of trading.
Emotions don't work in this Crypto world when you have Lambo in Mind ;) #LamboStyle
It seems like bitcoin is starting to get drained now.
However, the total market cap also is starting to drastically decrease so I guess most people are converting their bitcoin into fiat rather than altcoins.
Let's hope everything starts to get pushed up. Especially steem haha
It was a good move to shift back to Altcoins. Resteemed.
I appreciate that!
so the bitcoin corected already? I hardly check on the prices, becuase i am not really good at trading, just wanted to get more SBD and SP here on steemit. 😃
lets see how things going in thecdays to come.
Taking profits is good.
Like blackjack at the casino... I try to just play with house money. Hold my initial investment and a third of my profits... Diversity with the rest.
As always sound advice @hilarski snooze you lose, but you have to keep on your toes all the time.
You have to have nerves of steel to do what you do and knowledge to succeed ;)
I've always enjoyed the analogy of a yoyo while walking up stairs. I'll have its ups and downs but long long term, we're up up and away!
More like the AMC Pacer.
Technically, if you're "long" on a position, the price overnight doesn't matter. Unless you were long on the position months ago and your position closed or is closing soon.
But, yeah, BTC drowned last night in comparison to its previous bull run.
I am talking about Traders like myself. Long can be 1 minute in this game.
Very wise words, cheers
These markets have been due for a correction, hard... I'm glad to see BCC made gains while BTC was falling. Hopefully a sign of things to come.
I rose so high so fast it has to come down some.
That is exactly what I did and how I came back to Steemit, took advantage of BTC price increase and bought Steem
I find it very judicious and reasonable, the price of the bitcoin is at the top contrary to the altcoins so a max of profit
It's better to fall back a little bit for a healthy growth later.
Getting emotional over the inevitable roller coaster ride that btc is will cause you to get rekkt
Thank you dear @hilarski! Away emotions! Only a cold calculation!)
@hilarski - Very useful post Sire. I am going to RESTEEM it for others.
+W+
REKT....I got excited. Fingers crossed for a pull back to 3400 so I can buy. :-)
If your friends know when to trade you should introduce in your blog some tips when to buy and sell, that would be awesome. You got my vote for it already :)
thanks for the tip. always with the alert of that my friend. yee soon price corrections will come and hope we got a good news with some of the altcoins as well.
Need steem price up :)
Why? It is much higher than it was six months ago.
Tanks for the information 😉👌
Look at my post please. https://steemit.com/bitcoin/@inversor/blockstream-is-using-satellites-to-beam-bitcoin-down-to-earth
No, man! I have just started buying and powering up on a weekly basis! The last thing we I want is it going up! Of course going down is also sad, I would like to see the price stable at around $1 all the way till 2018
I have read about your previous postings about the bitcoin Sir @hilarski, what is the true price of the bitcoin it will fall back, while, as we see with that price bitcoin these last few days go up very significantly, her response Please Sir, because I do not understand about the bitcoin. Thank you.
I have no idea, all I know is that we are still in a very positive trend for a higher price. We needed a correction.
Yeah I agree with you Sir, we needed a correction. I asked like this because I am still learning about the development of the Bitcoin, thank you very much for the response her Sir. ;)
good to invest.
What alcoins are you long on @hilarski?
Stratis is the big one.
Stratis is building Decentralized Blockchain applications on windows platform using C# and ASP.net it has good potential, developers should keep up with the project and should have use cases for longevity.
That is good to know. I've been holding Stratis for a while now (it is down from when I bought it significantly). I was thinking about divesting from it. Can you elaborate on why you like it? Another bag I've been holding for a while is Digibyte, thinking of moving on from that one too.
Selling for alts at that time was pure guessing -- basically just trying to estimate where the top for BTC was. Bitcoin still showing bullish signs (high volume, still above strong support, price > EMAs which are still trending upwards) and almost every alt I looked at before the drop (other than IOTA, which is now dropping fast towards a support) was extremely bearish. ETH was an exception as it has extremely strong support at .066, but most of the alt currencies or shitcoins look to be in bad shape under previous supports.
The key number for me is 3890 USD. If bitcoin falls through $3890 and cannot rise back through it then I see it falling down to $3350. It went through it about an hour ago and dropped to ~$3840, but as I'm typing this it is pushing back hard with a lot of volume and went back through it so I don't think the bull run is over yet. We will find out shortly!
meep
Well, the people I roll with would argue that it was a calculated move based on the Fibs. But heh, they are nobodies.
I don't see it:
Common fib selling levels are the 1.618, 2.618, 3.618, 4.23. $4300 USD was smack in the middle of the 1.618 2.618 fib levels.
I think selling a little at different intervals and waiting for a larger pullback was reasonable -- we are definitely going to see a sub $3500 price sometime, just hard to say when. I actually sold some myself and think it was a mistake, better to have evidence of a top than try to prematurely predict it.
Altcoins got rekt too
I believe all of mine were green today.
What price do you think Bitcoin will correct to this time?
I presume around $3000 but I might be too pessimistic.
I myself am sure with what you say @ hilarski and I will try to invite others to do it and very happy to see it and can read your post and understand it ... keep the spirit and stay focused.
Great move! :)
I would love some of that info before it actualy happens :) is there a way you share your knowladge in advance :D
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