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RE: Bitcoin Elliott Wave Update - Intense selloff about to begin?

in #bitcoin7 years ago

The current market is too indecisive. If it starts shooting up I will close my position and go into Alt-coins (NEO, WTC, Monaco and few more) till I see a trend reversal. I've only held my position since Friday and that's exactly how long market has been indecisive.

In cryptos everything happen really fast. Within a week we'll see a clear upward or downward movement. When that happens I close my short for profit or loss and move on to the next trade.

HODLing is only great when you buy near a bottom. If you buy at current level it could be either fine or a good bet. BTC could easily double the current price AND crash below $2000 within the next few months. It could be Crash-ATH-Crash or just ATH-Crash. I'm leaning on the former.

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It's good you have an exit plan. Keeps you from great loses.
Also, we've heard in the news of many saying had they known btc would go up, they would have bought, but it has been for years and years... there's an old saying that says "There is no better time than now". And ya... this may not be the real bottom, but it can be your bottom. 10 years from now, you will be looking at the same fractal scenario, saying it's not the bottom.

Already exited and bullish for short term. Another crash is still not out of the picture. If things stay smooth for next 2 weeks I think we'll be shooting for ATH.....then crash.