Breaking out of the .001-.004 trading range will be spectacular.

How come? To me, that proves the point even more. The drop was more swift than the one from a year ago, even though the market showed much more strength. Also there were literally no bounces on this drop from the high...

Yup, I was just thinking the very same thing these last few days. Whenever the market goes up even a few percent there's like a flood of sellers willing to market sell it back down. My only possible explanation to this is that whoever is accumulating (and has been since the last low around .0016) wants to dry all the supply at these levels before letting it go up. So basically they're buying all the coins up to their target and then they're selling into their own bids which are lower, forcing others to sell lower into the breakout, into their bids. So even though they're buying it up, they're trying to accumulate at the lowest possible price, as close as possible to the point from which they made the breakout.

What's crazy is that some traders are actually falling for this strategy and giving their coins away cheaply right before another breakout takes place and leaves them behind.

Blitz is good, comes to our chat once in a while. Has some coins, last time i heard.

Did I see right? You're thinking we're going to test the ATH? Any timeframe in mind?

I think Monero will moon soon, so I'm just trading with very little amounts right now. If i profit, good, if not, I'm hodling the bitcorns. My sell orders weren't hit yesterday but still I decided to sell a very little amount (around a tenth of my asks) and I'm thinking of buying it back today, as my goal is to accumulate moneros.

God damn it, Mat.

In a way I think you actually have some of the skills necessary to be a good trader. Sadly, you don't (yet) have the ones necessary to keep you profitable, which are patience and discipline.

In my opinion you should take a break and then come back with a clear mind, wherever the market might be. Or, if you really don't believe in bitcoin's future and potential, just trade something else altogether, because I find it makes you (too) emotional about trading it.

I confirm. I longed today and then got shaken out at break even. Dayum that 10% profit

The level of trolling in here is getting higher than the BTC price. They must be desperate.

Please don't quote them.

Maybe you're looking at this the wrong way.

What if the smart money is extracting value from the market like you say, but instead of extracting fiat value (and surely, at times, they will take profit in USD), they're actually extracting BTC value, and their sole purpose is to accumulate more BTC (at least for now).

Just wanted to step in and say that I'm loving the updates and the service, even though I'm currently not subscribed.

I just don't have enough time to trade too often, but I'll be happy to subscribe soon.

Cheers.

I'm in a similar situation and I've decided to sell here and there to recoup around 35-50% of my initial investment. I hate to sell bitcoin (if I didn't, I'd have a considerably larger amount by now), so this is tough for me, but it gives piece of mind and makes the next decisions much easier to take.

For instance there could be a panic dump any time during the rally, a great moment to buy back what you sold and some extra profit. You'll also feel better about buying, not afraid that you're buying the top.

Good luck.

Stop quoting the troll.

If you like reading nonsense and even spend time responding to it, then please, do it without the quotation, for the sake of the rest of us.

Thank you!

Bottom sellers are the new top buyers.

38.2% of the whole drop is around .0027. If that breaks, watch for the .0032-.0036 zone.

I am fantasizing about breaking upwards from this .001-.004 trading range, but I'd be happy with .006. I consider .01 to be very hard to achieve, doable only if bitcoin rallies past the ATH.

A record 5th red week in the row. That's impressive, even by Monero's dumping standards.

I think it's buy time.

What would be your analysis on the LTC swaps Mat? How would that interlink with the BTC swaps?

Please stop quoting the troll and enjoy the silence while the price is getting hammered back into the .0010s.

Cheers.

Selling is hard only the first few times. After you manage a 50% increase, or, God forbid, to double your XMR stash, selling during the overextended periods of the market becomes much fun.

Or you can just think about it another way: you're taking money from greedy traders who have no love for XMR, and then you are able to invest more into your precious coins, drying up even more supply into strong hands. Good for you, good for XMR, bullish for the market on medium to long-term.