Bitcoin $7,500 I'm selling while everyone is buying.. Am I nuts??
Sunday afternoon and the BTC/USDT chart is parabolic.
Everyone wants there free Segwit2x coins, so there is tons of buying and very little sellers. This type of action often leads new traders to making mistakes. There can be many different ideas that run through your head when you see something keep on climbing, day in and day out with no end in sight. You might decide to buy in on the action, or you might start to your previous sells.
I wanted to make a video to help describe why I trade. What is the benefit to trading vs just HODLing. Honestly I never try to predict the future, but I simply react to the chart I am looking at. I trade what is on the chart and that's it, I keep it simple.
As always, thanks for watching and I know that everyone has their own story to tell about how they would trade these events. I am happy to share how I trade with everyone, and my thoughts as a full-time trader. But you are all entitled to your opinion on this subject and my way is not the only way to trade or make money. Please feel free to share your thoughts here or in our slack community.
Luc
I completely agree. I never understood why people are willing to trade altcoin pairs to increase their BTC holdings but they aren't willing to trade BTC against itself when it is so overextended like this. If you had 1 BTC right now and sold it for 7500 and it drops back to 6k you could buy back 1.25 BTC for the same price. You are still growing your Bitcoin holdings and you are protecting yourself from potential huge pullbacks by going back into a much more stable currency like USDT or normal fiat.
Also can we join the Slack group you are speaking about in your videos? Is it open to the public or is it one of those paid private ones?
https://docs.google.com/forms/d/173aHXPctaKMi6mRaAcvui0c-5ejiehgM9i4mByUU-1g/edit
Slack invite is 11 posts back ;-)
Actually 7500$ is great take profit pricing, it'll drop sharply below 5000$. Good call mate.
im still waiting for a 5k test. now near 12k , at what point will i give up and give in? last time it ran 68% before falling and testing 3k. The time before was 100%. This time its ran 128% !!!!!!!
Is there any exchange where it did test the last high? On Plonex it did go down to $5,151 does that count as a test of its last high of $4,950? In the short term it seem the answer is yes.
Hey man. Newbie here. I see that gap at 5000. What timeframe are you using to identify the gap?
I wrote this article which is targeted to people who feel it is too late to get in and participate in the exploding crypto/blockchain sector. https://steemit.com/cryptocurrency/@motowngold/bitoin-crosses-7000-dollars-what-can-you-do-about-it-some-investing-ideas-including-crypto-related-stocks
seems you were NUTS!!! hahahah
not when it dipped back down to 5k at the time. He made off like a bandit
Simple question I can't find the answer to online. So you're in a trade and you sell it, where does the USDT currency go? Does it go in your wallet or is waiting on the exchange for another trade. I am using Bitrex.
I also want to say thank you for your videos I have watched them all on youtube! Have you thought about doing a video about money management for your type of trading?
usdt is an altcoin that is forced to match the same value as usd. you can send it just like you can bitcoin. Rumor is that it will someday fall apart and cause major drama in the prices of all coins. https://www.cryptocompare.com/coins/guides/what-is-usdt-and-how-to-use-it
"Bitcoin decides to fall" perfect sentence...you know I'm refraining myself to buy BTC since it was 4000$ and I'm not sure is going to fall so deep now 😂, I'm just getting profits buy selling BTC but I have the feeling that BTC never stops rising and it is like missing the good chance to earn more...the market is crazy!
Hey Luc. I started last week on this road to successful trading. I have binge watched the majority of your videos and studying the charts to make sure I set myself up for success when I begin. I do have one major question right now: When do I get in?
Because I'm seeing this BTC curve, I am ultra worried as soon as I buy any bit, it'll halve itself on the next fork and then my entire trading leverage just halved itself immediately. Conversely, if it does go above 10 post fork, then I just hurt myself not getting in now. Any tips from this community is so greatly appreciated. Thanks!
I'm also debating on grabbing Ethereum as my first initial investment. Still learning though, I don't know if that's the correct thing to be doing
Hi, another newbie over here. That's what I'm doing for the exact same reason. BTC for me is a "don't-touch". So trying to do all my trades based on ETH and only buying new ETH from fiat.
It's not so easy, because most of the trading opportunities are based on BTC, but you also find some good ones. For newbs like us, we are the biggest limit actually, not the currency we choose as a base. At least, that's my point of view. Interested in other's opinion about this.
I would suggest to wait until bitcoin closes the gap down to $5000 before getting any bitcoin. It's hard to wait for the oppurtunity, but it will come and it will be a much better place to get in.
I think it will go to 5k before passing 10k. Be ready. set up your bank account links to your exchange and increase your limits wile you wait. when it goes to 5k go all in. YOu can bet the house on it.
and where do you plan to rebuy?
I will be watching BTC closely as I always do and I will get in when it has broken a base and is in a panic drop.. Thats my usual routine.. I was eyeballing those 6900s as a decent little base.. But ofcource I'd love to see something under 5,300 .. That would be my next pretty solid base.. I think a crack of 5,300 would lead to some serious panic and I would gobble up whatever is falling below that.. Only time will tell what will happen next.. and every time we get some big bounces we will have more bases to play off... so for now, im watching for some big read bars below 6900, if we get some...
But what do i do about my fomo?
Luc you are the man and would love your opinion.
It seems that we are due a correction and i would think it should fall as low as 5.9k - 5.3k as the gap has not really been filled. Would love to hear your latest opinion on what you think is going on..
Did you stop making videos? Haven't seen anything new in a while. I value your regular input.
Only for now.. I'm waiting for the market to get a little more bearish.. right now while everything is going up, no matter what you do you make money.. but in a few months if everything starts droping, then I will be needed again.. to help everyone make safe trades..
Sorry to hear you've taken a break from the videos.
Regardless of the Crypto market environment, FWIW I am very much interested in hearing what you have to say.
You are absolutely right, Luc! Thanks again! Can't wait to trade bitcoin when it falls)
@quickfingersluc, would you recommend margin trading?