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RE: 1/10/2017 The Market View and Trading Outlook
That all caps section is a great tip! I've never actually thought of it that way... I'm definitely little by little building up my store of knowledge and rules for when I'm able to day-trade.
My $707 ETH came in yesterday... can't help but smile just a little bit...
I bet, I sold of a bit early around 1200 or so.. I did o.k. as I had a limit order set on Gemini for $640 when it was $800 that I had forgotten about so that played out but I sold off a bit early on that one at $1150.. ah well.. I'm doing good though on LTC and BCH.. been snatching up the BCH dips around $2300 on GDAX and moving into more BCH over the last few days on Bittrex to hedge against BTC. I was using ETH to hedge but I'm thinking it needs a bit of time to gas as I started seeing sell indicators around $1340 and we are now entering a 4 hour selling cycle. I will see what becomes of it. If it trends up during the sell, I may get back in.. but no ETH at the moment and all BCH as a hedge against BTC on bittrex at the moment, plus 15 or so alts that I like..
Like you always say... money can't be in two places at the same time... which also applies to your money... clearly LTC and BCH are gearing up for a rise while BTC mucks around and ETH is enjoying the highs... temporarily.
I still have never bought BCH... for so long I saw it as a dodgy get-rich-quick scheme designed to steal from my BTC holdings... I really need to get over those emotions.
Objectively speaking it is technologically superior to BTC. Assuming that it is BTC but a superior product, it sure looks to be underpriced at the current $2500 level. Also oddly, I have not forgotten my conspiracy theory flippining idea either. The weekly on BTC may go Uggg, which would be bearish as BCH goes on a run toward 7k plus.. bringing the two dangerously close together in terms of price. At which point a changing of the guard would not be so out of the question. Again pure conspiracy at the moment.. LTC seems to be in phase with BTC right now, whereas ETH is not. LTC is slowly gaining ground on the LTC/BTC pair a sign of strength and usually indicative of a run up at some point, but not seeing it in the super short term. That is why I started moving to BCH 2 days ago, go to the charts and look at the BCH/BTC pairings, especially last night.. You saw that BCH was accepting the gains on BTC but shaking off the losses and it was gaining ground. That said BCH is finkle and loves to go to 2700 then down to 2300 again.. so I'm watching it as it is a sneaky fucker at times...
Knowledge is a key to success!
If you knowlidgeble don't miss my TFDSRE series: #1, #2, #3. Here is also my last analysis #26, glad to get a comment from you, to hear your opinion.