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RE: 12/6/2017 The Market View and Trading Outlook
What do we do when we use logic and rational to make decisions, and something totally different happens. Like the rise in the stock market over the last several years, or the tenacity of the central banks. If you go back to archived files, you can read the same timing warnings in 2013, that are being used and published today. The old adage " don't confuse me with the facts" is gaining my respect. Thank you so much for trying to decipher and report.
True, but we are still only on a 1 day run up that started on 11/12/17 without a pullback. Fibonacci at 50 puts us in 9800 range just on the 1 day. I can bet you my entire wallet on here, $20.00 worth, that we will see a pullback and correction. I'm not to worried about it and am fairly certain that I will be able to pick up BTC in the 10k range again before to long. If everybody is on one side of the trade then there is nobody on the other and we have no market. What I could loosely assume is happening is a large push up by the same crowd that may short it into the dirt when the futures market comes online. At current there is no real way to "short Bitcoin" in an appreciable amount. Sure some exchanges offer it but the liquidity compared to the overall market is nill. The addition of futures is going to change that considerably. Moreover and what I think will be good for BTC is that the mound of capital in the futures market may wrestle control away from the illustrious "spoofy" crowd that is known to manipulate price. As more and more money comes in the overall pot becomes diluted and price will be able to stabilize. Large banks and hedge funds are not about the volatility aspect and will use money to smooth it out. That said I am not overly worried about the price right now. We have still yet to have a 1 day MACD/Signal crossover. Even the dip to $8800 last week failed to accomplish the goal of bringing things into balance. I'm seeing the possibility of a 60 percent or better pullback when the 1 week actually crosses over and heads bearish. Now is a great time to trade based on the 2 and 4 hour time frames. I'm still not going to HODL until we clear the 3 day or 1 week correction; which will happen it always does.
I don't have the guts to trade on 2 and 4 hour watch, but if there is a possibility of a 60 percent pullback, I'll keep some powder dry. By the way, this is the most content and sincerely written reply I have ever received and I appreciate it. Not just for the well constructed advice, also validates me as a real person. Thank you.
You are a people to me. :)
Hahahaha.
I would keep some cash in reserve, like I said what you are seeing with Etherium and Litcoin now is the money being sucked out as everybody is transferring over to jump on the Bitcoin train. Look for a jump up in either of those as bigger money starts moving back over, this will signal in most cases a drop on the horizon for BTC. You can see it if you watch all the charts, you will see a $1,000,000 sell on LTC or ETC followed seconds later by and = buy in BTC. Pretty standard affair really and something I like to see as I trade well with ETH and LTC. So I am happy to see BTC pull the money out of them. I just really want to see BTC trade sideways for a few as LTC and ETH will rocket up..