How Crazy is going long now?
So I just closed all my shorts and went long.
This seems quite crazy, but the situation to me seems to be a bit too panicked.
We are now just touching the downtrend we have breached a few weeks ago, which should serve as support. We also are on a TD 9 and are showing some supporting indicators.
We are somewhat oversold, though I feel the RSI has some room to fall.
How Crazy do you think this long position is?
The thing is I am somewhat bearish at this point, and will likely short the next bounce, but at this time i find a the upside a bit more likely at least in the very short term.
update
Got stopped out.
Ouch!
This trendline is only valid on coinbase.
I see this trend on all my charts?
You are using logscale that's why. Trendlines in logscale are totally insignificant due to the distortion that comes with log
Timing the market is never my skill. I am in the long hall with crypto so seeing people wanting to invest rather than short is always a good sign for bulls. Thanks.
Dont think this is crazy at all. Prices now are cheap! We might see 5000$ or even 4000$ but probably not lower than that. Also I noticed that the volume went up somewhat showing a solid downward resistance.
Creo que ya ha bajado mucho, esto tiene que mejorar, los que pueden y tienen confianza estan invirtiendo.
The breakdown of cryptosystem will be the greatest failure in the world
Not crazy at all. If you can't lose more then what you are betting on it.
How much did you earn by going short?
Or can't I be that curious?
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Same here it might be for the short time indeed
well lets see what happens !
I think the price will rise eventually, the problem is nobody knows when.
A big announcement is needed for a rise in price of cryptocurrencies. A law change in some country favoring the use of this coins or a big company investing or creating his own crypto.
3rd world war is coming soon