I really have no idea what will happen over the weekend. We can break 10K like it was made of sugar and sprint to 11.3 (major resistance) or we can fall back to 8. It doesn't matter, in a sense. What we know now, is that there are enough buyers left and that means that in the end BTC (and crypto in general) will recover.
You know how I feel about Fridays and especially weekends. I prefer not to trade. This weekend will be especially tough. What will Monday bring? Will it go down again? What if... ? How about [insert FUD of the day]? Etc.
I have drawn some general conclusions from the past days:
> BTC does act predictably, especially if you look at long term trends, and that indicates that BTC will continue to rise over the year.
> Short term TA is hard, but long term trends seem logical. So if it will go back to 8.5K or 8.1 or 7.9 or not at all, does not matter in the long run.
> BTC is definitely not dead and neither are the alts
> Alts create trading volume (bot trades) so even the most fanatic BTC fans (and alt haters) better hope they do well
Also, there are a lot of people around who seem to validate their own importance by talking shit about others or about their choices. I am not sure if they are paid, but I somehow hope they are, because if they are not they are miserable human beings. Please don't listen to them and don't let them talk you into financial decisions.
So, that said, I have bought NEO, IOTA, BTC and XRP and rock bottom prices. High risk strategy, as I bought alts that also lost heavily against BTC and it paid off. They not only made up the 15% or so they lost against BTC but rode the BTC train as well. I converted part of the profit back to fiat already (around 25%). That may sound strange, but cash is still king, and I do dollar averaging to manage risk. I recommend it to all.
Interested to know what the most important lessons are that you learned in the past week or so. It was quite the baptism by fire.
Last but not least a special kick in the nuts to all those people who were so vocal in critiquing the use of TA or making any kind of predictions. After all, they were the experts and they knew best. I could have easily have been wrong as well. It is not a game of certainties, but of possibilities and probabilities. If you don't understand this (and you know who you are) than either shut up or ask questions. Don't attack what you don't like. You can skip the posts of people you don't find valuable.
I find it a shame that so many act like little children. I would like to see more people trying TA and posting it here. I have seen a few do it and I hope more will. It is not about being right, it is about trying to understand.
I wil check the next updates of telegram group and hope get some news from there.
Cheers and be careful over the weekend! Learn about dollar averaging, if you want to manage your risks.
and dont forgot Cappasity , this wil become crazy next time. its now very cheap!!
https://coinmarketcap.com/currencies/cappasity/
