RE: Why Bitcoin Could Fall Lower From Here
I had gotten out at 14.5 k after being careless one night and NOT saving funds in fiat while sleeping... maybe 12% (but that's relative because I recall getting out at 16.6k when the great fall began and rebuying at 13.5... so it went up to 16.5k again and I felt I lost when it went down to 14.5, that's what I mean by "relative" - I didn't exactly lose money but I felt cheated when I should be grateful for the learning experience, a typical human failure) - I recovered that by trading Ripple till there started to be definitive sell walls again and again, and I only wanted out, no more Ripple for me... in fact, servers were down - a sign of too many other fools thinking exactly the way I did... ETH ain't bad but I had also been thinking of buying bitshares (BTS), I need ETH to buy that anyway, using Blocktrades... but not sure yet. In doubt, stay in fiat. I'd rather not earn something than lose - but I have a small investment in Stellar Lumens and I'll hodle that I guess ;)
checkout stop loss orders
I saw quit a bit of buy order volume in the order book at 13,500 but was surprised it went down lower when I didn't see much sell in the order book.
Now it is back up to 14,000. I wonder where the sells come from because I don't see them listed as limit orders. Maybe there is software that monitors this stuff for people and places sell orders when there is a spike to keep the price from dropping too far.
There's all sorts of algos doing the buy and sell for whales, they usually work on the RSI up and downtrends, they are programmed to mind typical resistance and support levels and profit form them
I suspected something like that was going on. I did some work in C++ on a match server and I know how easy it would be to do that type of thing - but you have to know what you're doing as an investor to code successful algorithms.