Welcome everyone
Our target is 100 000 dollars.
Last week's Portfolio
Total amount : 13 745 dollars!
Today's Portfolio
Total amount : 11 609 dollars!
The ride down continues and will continue to go down further. The bears are just too powerful at the moment.
There is no good news , low volume and more incoming bad news. I expect we will see some dark coming months ahead. I see absolutely no reason why bitcoin should bounce back and rise.
We have the G20 summit in July that will bring new regulations for the cryptocurrency market. That could be one of the last big hits on crypto. Or more will follow. Who knows?
Since Bitcoin hit 20 000 dollars we have corrected about 70%. A correction of 90% is still possible. Be aware of this very real possibility. It will not be the first time.
I have learned one thing during this correction. Bitcoin has no real strong support.
This is because it only took one year to jump to 20 000 dollars without real resistance. So there is no real support either.
If we look at some TA analysts , they all have been wrong. Every support has been breached. Every bull pattern has been invalidated.
We need to look at the big picture here and use our heads. It’s pointless to look up. We need to look down.
The next target we will be reaching is 6000 dollars. This is the price where we will hit a double bottom. Will this be the turning point for Bitcoin? Will we see the beginning of an uptrend?
My gut feeling tells me we will probably go lower. I recommend looking at the 3000 dollars area.
I will not buy now. The situation is just too risky and uncertain. I’m done catching a falling knife. I’m looking to invest below 6000 dollars.
I’m still bullish in the long term though. We have some fundamentally good coins out there. But now we are in the process of destroying all the useless coins. Only the strong will survive. Survival of the fittest.
I bought :
Nothing
I sold :
Nothing
Thank you for reading.
Any advice is much appreciated.
See you next week and thank you for your support!
Portfolio week 1
Portfolio week 2
Portfolio week 3
Portfolio week 4
It's true, when people do TA they search for "how could it go up".
It's a true emotional management skill to take an unbiased look at charts.
What I do is to both look for "how could it go up" and "how could it go down".
It's worth noting the BTC hourly chart show the biggest bull volume since end December 2017, although this haven't managed to push the RSI above 75 (shitty momentum)
Interesting series you got going on here :)!
If my advice counts for anything; I'd recommend starting to use that cash to buy some cryptos. I personally have been sitting on the sidelines since $11,500 (of course, still holding some of my looong-term picks), and now, I've been slowly using that cash to buy some alts, and now also some Bitcoin at $6,600.
If you believe in the technology, you should be buying. For long-term, it doesn't matter if you buy Bitcoin at $6,5k instead of $5k :)!
Also, as a person who keeps up with the news (because of my Daily Crypto News-series), I can confirm that there has been a lot more POSITIVE news recently! It's just that people talk most about the bad news when we're in a bear market.
very useful article about bitcoin, but i think it's the best time to buy bitcoin. because crypto market fall down several times in 9 years. but rise again and again. bitcoin never disappointed us, it's like gold. sometimes gold price down and again high. Both are limited and most valuable.
I will be ready when bitcoin rises!
nices posts i like your posts
Tables will turn soon in Q2 of 2018
I hope so too.
Interesting blog you have. The goal is quite achievable, but it takes time. As the saying goes: "He wins the one who can wait." I think this is just this case
Indeed. Patience is so important.
Glad to see you're back! I enjoy this weekly assessment! I know it's been tough but for me I secretly have been loving this. This has allowed me to pick up more coins at great prices since I just started investing around February. For me I'm just getting started so I'm picking up coins every week. Glad to see you're holding!!
Glad you're back! Let's hope this correction will not take much longer.
Wonderful post ..thanks for sharing...Best of luck friend ✫
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