OK. It's a Craaaaash!steemCreated with Sketch.

in bitcoin •  2 years ago 

I don't know the future, but better safe than sorry. Look at these charts. Caution is proper.

These are times to seriously consider reward to risk ratios and your personal risk tolerance. I lost a significant amount this past day and will be out of the markets till I can confirm a recovery. Yes, that means I have locked in my losses, and I have chosen to wait out this market till it makes up it's mind on a bull run. In this case, it is better to be late than think the bloodbath is over when it really isn't. I suggest you think about yourself and what you actually believe in. Are you just in it for the potential gains and praying for a lambo? Or do you value the tech?

Here are those exact same charts I normally use. The only difference is that I combined the averages into one, added one more for a shorter average than the other two, and changed colors. Since the previous post, all the lines I drew have been crossed. I mentioned then that as long as the longer term average does not invert downward, we should be fine. It hasn't yet, but it is beginning to. Strangely, ETH and NEO are still holding up but my proxy for the overall market (first graph) isn't. Until prices return past the longer term moving average and I am 100% convinced that an upward trend has returned, I'm out.

feb 2 market corrected.png

feb 2 bitcoin corrected.png

feb 2 eth correcting.png

feb 2 neo correcting.png

Once again, do not take this as investment advise. Do what you will.

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