Well, if we don't start going up today, we'll go up tomorrow, and if not tomorrow, the day after..... I've decided to take the "it's all cool" approach 

when the fud spread like china ban bitcoin.

it is time to take position on buy side.

My number 1 rule, always works, since btc = $200

Good morning Bifcoinland.

Still scrapping over $900 I see... currently $898USD (Bitcoinaverage). That's good old $888 at Stamp.

Do we get our third green daily candle in a row today?

I don't mean to poo poo technical analysis because you may be correct about those areas of support.

I am just going by the mere fact that it has only been a short period of time since we were there at that price point, so therefore it is reasonably within the range of possible prices in the short term (week to month).  We already know that Bitcoin has a historical tendency to overshoot expectations or reasonable expectations... and really there can be a combination of factors that allow prices to get pushed that far down, including someone who has covertly acquired coins over the counter and who strategically places them (or even moves them to exchanges at opportune times).  Sure, there are also tools in which you can push down without even having the actual coins... but sure, maybe the bears are going to run out of coins, it is possible, but even though $600 seems on the extreme end of possible, we were there a bit more than 3 months ago (as I continue to repeat).  

Do you think that I am wanting or hoping for $600?  Currently, I have about 94% of my holdings in BTC, so I only have 6% available to buy on a price drop, and maybe in reality only about 1-2% because some of those funds would be likely be used up with my orders already set to buy in the event that the price goes down.. so by the time we get to lower $600s, I would only have about half of that fiat left (and maybe only be willing to put half of my half into buying at that price point).

Anywhoooo.... if we get a few more tests of support, even at $812 and we stay above it, then it may become even more difficult to get below it.  So far we have only had one test of lower $800s (sure we do not have to have another test of support, but it is not unreasonable to think that it could happen in the next 12 hours or even within the next week).  

You could be correct, and I am just saying that we cannot assume $880 to be bottom...

I am definitely prepared for up from here because I already bought a lot of coins from this dip, and I had not really sold very many anyhow in the rise to $1140.

I only use $600 as a reference point because that is where we started in this particular bull run, without any meaningful correction (I think we may had a couple of 7% corrections).  I also think that this most recent correction of approximately 29% should be sufficient in order to get prices to proceed back upwards; however, there could also be a certain level of bear desperation and willingness to operate at a loss in order to keep bitcoin prices down while they have a bit of correction momentum.. to attempt to use it some more iin order to attempt to continue to drive prices down.

In any event, I am not really wedded to any scenario that I describe, and it could take several weeks, even months to resolve this disagreement about price.. and therefore we could have quite a bit of up and down in the $600 to $1140 price range (even if $600 is less of a likely scenario, but it still does seem to be in the range of feasible since we have only been moving upwards from there since the beginning of October, remember?).

Are you currently referring to covering shorts or longs?

I just buy as the price goes down.. unless it looks like it is going down in extreme fashion, then I attempt to cancel as many of my buy orders as I can and then maybe buy some of those at a lower price, if I am able to get to a computer while such a thing is happening, which happened when the price dropped from the $1090s arena down to $890 within about an hour. 

Luckily I was alerted early during the $1090 to $890 drop because the extremity of the drop became apparent in less than 10 minutes into it.  But if you cannot get to a computer, then you just gotta live with whatever you have preset... and maybe attempt to regroup afterwards.

I don't see too much going wrong, probably more sideways consolidation? We've already had our major correction / dump a couple of days ago.

Probably the terminology does not matter too much is we are understanding what we are talking about.

I think that part of the point that I was attempting to make is that I just stagger or step my trades all along the spectrum and all the way up the ladder and then generally all the way back down, as compared with what you were saying that you pulled out your wallet of bitcoin's and began to enter a few staggerings in the $1,100s, which ended up being a decent strategy and may have even been better if the price had gone high enough in order to execute all of your sell orders - then pretty much you got a pretty decent interim play very near the top of this particular cycle.



Even though we may have some tendencies to feel some regrets about we could have played a bit higher stakes, to me, I don't really want to try that kind of bigger stakes strategy because it really does not seem to work too well for my stress levels.

On the other hand, I do attempt to learn from what I could have maybe done a little bit better in order to increase some of my comfort levels.  For this particular correction (that may not be over yet), I went through my various BTC trading accounts, and I restructured a large number of my orders under a new tweaked framework that pretty much caused the spreads to be considerably larger.... and yeah, I will probably tweak those spreads a bit more in the future, but it seems that this new tweaked strategy should at least last me for several months into the future - absent some other erratic  BTC price movements that don't end up being captured in the parameters of expectations that allowed by my new set-up.

based on what facts you say this about tonight?

I did a lot of research into as many cryptocurrencies as I could after I became intrigued by a Litepay option on the website for an online service I use. The first thing that caught my attention with Dash was the privacy angle and the instant transactions. As I read more about it, yes, the scalability stood out as an important factor as did the ability of the Dash network to make decisions quickly, thanks to the Masternodes. Dash appeared to be already future-proofed with the ability to adapt with agility to changes and challenges. It seemed to have anticipated the potential problems that Bitcoin might encounter and dealt with them already.  Two years on I still feel excited about Dash's future and I can't wait for the release of Evolution to take the mystery out of crypto for the average Joe.

But after a year or so of using Bitcoin as a means to buy Dash (The lack of fiat gateways is still a huge limiting factor for Dash) and also to transfer money from my UK bank to my Euro bank faster and cheaper than the banks can do it, I got to know Bitcoin better and to respect it as the Big Daddy of crypto. I had a chance to buy in low after the Bitfinex hack and then I was hooked. The lack of scalability with Bitcoin does worry me, as does the apparent impossibility of its network to actually agree on anything, but it already has the adoption and market cap that at the moment Dash is only dreaming of.  And these rollercoasters are certainly good for an adrenaline rush 

Sorry I think I got a bit carried away there 

I almost forgot over the last couple of years just how nauseating bitcoin's price movements can be.

Oh it's long term alright, in fact I was buying up Dash for over a year before I bought any Bitcoin to keep. Let's say I'm hedging my bets as to which one is the better long-term investment. .   I hope they will both enjoy mainstream adoption and a long prosperous future and I want very much to be a part of that. But the high profit margin on my Dash has also been very reassuring during these funky Bitcoin dips.

It doesn't make me any less passionate about Bitcoin. It's just that I was passionate about Dash first and so far it's done me very proud