Are you getting used to the weekend patterns of BTC price drops?
I don't know about you but lately it just seems like clockwork that BTC dips off into the sunset on its marketcp from Saturday evening till Monday morning like a drunken ritual. Its so predictable at this stage that I kind of wait for it to happen and hold till Monday for any sells I do.
I know from trading experience that weekends tend to be the slow periods in the week but these insane $300-$500 dips every weekend is getting oddly too predictable for me, not sure what causes it other than a bunch of rich partiers may need cash money of some Budweiser in their lives lol. Only thing that bugs me, it tends to kick down my altcoins and they need many more days of the week to recover.
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This is how I picture BTC right now if it were human lol
So if anyone is freaking out right now about the charts, just kind of pull back the charts on a bigger time frame and take a deeper look. This will most likely recover and sway a few times. I suspect come Monday like usual it will get that hangover remedy in itself and go out like superman and fly high.
Buy on weekends, sell on weekdays!
Kind of the motto now a days, back in the day, it was so hard to predict, nor if you would have a recovery happen in the matter of months, now its literally possible in hours lol...so much has changed here fast
I also found that I drops in the midnight and pick up at the morning, quite frequently. (Am in East Asia)
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LOL....you know about the Polo saying, get ready China is waking up lol...you guys over there tend to shake that market up. Over here in the USA its kind of hit and miss with everyone trading together, so many odd time zone issues I guess in the US. It does though, tends to get very slow when Asia goes to bed, we wait on you guys to wake up lol...and that is a compliment by the way, you guys keep this market more lively
haha I don't about that saying. but I do know that the Chinese and Japanese are strong forces in the bitcoin market.
That they are. Yea the old now dead Polo trollbox, they would announce about an hour before sunrise in Asia that you guys would come in and drive the markets up...lol....the American traders waited on Asia so happily because it was always so dead before then. See crypto bringing the world together
I never made the connection. Thx for sharing
I only noticed this lately because I just always happen to have something on Saturday I plan to purchase and every last time the thing seems to dip on me lol. And then I hold and wait it out. 3 weeks in a row this has happened. Weekends though tend to be slow trading times, more people out living life so the market tends to get crazy
Thanks for sharing that's great information.
Nice post. I react the same way as shown above when the dips are happening, so I can't blame "Human BTC".
lol....its gotten so average and normal for me that I kind of just hold and look away lol. It always seems to recover fast so its like okay there it goes again lol
Yeah, you are right. It got to a point where we can just sit back and relax the rollercoaster ride. lol
Long time ago I used to sweat BTC, it would dip and you worried will it take months to recover. Now there is so many people believing in it that it seems to recover in hours to a few days, that I can be way patient on lol. Nice to not stress about BTC and Steem holdings, last winter I was a basketcase about this stuff lol
haha I agree, maybe crypto is finally starting to let loose a little bit ;) more people are joining the party!
Honestly I think its just the slow trading on the weekends bumping it around. Some come in and slam off a few good sales while its slow and less traders there to buy it back up. Everyone seems to be doing life and less trading on the weekends. It is growing though massively, so it might get rocky more before it gets stable. Its just drunk lol...easiest way to view it for me lol
LOL, Man, I always end up clicking on your post and find them amusing. I end up scrolling to the bottom and see your handle. And I'm like oh its you again, I just realized its the feed notification that keeps leading me to your articles. The title and content gets me reading.
lol...I am having one of those more into humor vs the usual serious stuff I post, weekend and all. Glad your liking them, funny maybe I am getting seen more out there then lol. I try to mix it up, keep everyone guessing what I will do next. Sometimes I break it down nice and serious on important topics, sometimes about my life and family, and bam just complete nonsense lol
I noticed too and I think your analysis is spot on. Bottoms up!
I just happen to notice this because I am usually wanting to buy something online on a Saturday and I always see it dip out on me so I end up holding for recovery lol. I know my charts decent but honestly this pattern just keeps presenting itself to me without me reading the charts. Luckily though it recovers better now a days. Months ago we would sweat it unsure if it would ever return, I think we are safe now a days, too many coming into this now to not come back on up.
I think the market is just digesting the big gains from May, early June. But yes so many new people coming in, and institutions too, so we're going higher.
I agree, there is a stagnant moment due to the high gains in the past but it should fire off again soon, definitely expect a rise to kick off like we never seen before
Good thing that you're on the side who don't panic. Take advantage of the volatility. Congrats on your Bitcoin profits! Upvoted...
I don't panic, I think working in a coin taught me to chillax lol...wait it out because your pay day might not be today but if you hold and volume up, that pay day will be way worth the wait. I used to day trade and that lifestyle is not for me. You only scrap change watching hourly charts like that. Rather collect and get more volume here, I have bigger goals for my life now and I think I got to a stage in crypto where I learned all my past mistakes and grasp my personal tactics with it better. Not a genius or a know it all but what works for me seems to work so far well lol. Still not rich but maybe one day
You will be... as long as you stick on your proven strategy.
I try not to deviate too much. And all honesty I am getting up in that game now more so by writing again, that is huge to me to have that rekindle. Put my passions into my future and save back for the better of my life is a true blessing. Steemit came at the right time, little perfect storm
Congrats! I think that is a very wise decision and plan you got there buddy...
Just taking it day by day and let the future unfold itself, believe though I am on the right path here, I hope lol
You are on the right path @sflaherty believe that with all of your heart. I can see your name on top in the near future...
the crypto markets are just as manipulated as everything else, they just cant ever keep it down. the alt coins are wild, but btc and ltc is being keep lower at the moment. its not time for them to explode totaly before the markets do, and that wont be before btc gets segwit, and can be used on a larger scal
There will always be a little manipulation in most markets, those who can play bigger hands will always put those dents in the market...sometimes even without meaning to. But there is coming a stabilizing force soon in a project called Omega One...actually just wrote about that the other day. This thing is a platform to create a more spread even play on sell offs, one that will time sells a bit more evenly so it won't create such volatility. Reason we have that right now going on or like the FLASH CRASH we seen on Eth this week is due to a little less professional setup in our current exchanges. Fiat exchanges have these kind of setups that are decades old, rules and regulations and major inside trading keep those markets looking good when they really aren't. Omega One is a decentralized version of a fix, after looking into it I kind of have a bit more hope we may get an environment to change the game a little better, well as long as they can pull off their claims lol. All in all, BTC is never done. Just glad its not like it was when I first started, back then you may have a downtrend that could take half a year to recover, its a blessing right now the way it bounces back due to more traders
It'll be 5k by the end of the year, just hodl and don't worry :)
I love that hodl saying, I need to print up a tshirt of my face with HODLR written under it lol. Always the best way to do it. Mark my words, 2018 we will need seriously good accountants lol
2018 is gonna be sweet :)
I agree, might be a few ups and downs with the legal side in the US Government but I am up for that challenge, in the end there is going to be more wealthy crypto users and they may have to bow down to a new breed of wealth, the kind that isn't about controlling others lol
Yeah, people are going to be in crypto at some point in the future. I just hope they work out the kinks in BTC and get segwit and 2mb blocks up and going before the masses pile in. Would be a 6 month transaction backlog if there was a financial crisis at this point!
BTC has one good shot at this, the drama is enough, its just time to step up to the plate and decide together and just do it lol. If not, God help us all...with Eth and the banks behind it so hot on the heels...I do not want them to swarm in to try to take the lead. But that FLASH CRASH junk did show us that Eth is with some devious investors, 22 Million sell off...those banks are bad news