Why is 380-390 holding se well? Is it because people view them as "cheap" as soon as they drop below the 400?
You seem to be way too premature in your assessment of "holding so well."
It seems that the current bounce back trade volume is not very heavy, which could mean further downward price movement - my current guesstimation.
On the other hand, after the upward price movement to the low $420s, I didn't think that we would be going to $350 again, but who knows?
That's why ultimately, either by trading or psychologically, we gotta be prepared for price to move in either direction.
It's possible that I could have been wrong with my earlier assessment of $351 as the bottom in the most recent downward run (correction), because currently, we seem to be experiencing a pretty strong additional downward price movement and pressure for more downward movement...
In other words, I get surprised a lot in bitcoinlandia, even though I attempt to put my money where my mouth is, to the best of my ability (and even though I give quite a few details of my investment strategies, I may not say exactly what I am going to do before I do it)...
In any event, this downward return to the upper $300s came a bit sooner than I expected and with a bit more force than I had expected... yet it has been pretty decent for buying and selling opportunities.. which I have been doing while biting my nails.
How can anyone really know, really, (without being an exchange owner or a whale himself) whether some of the bear whales are running out of coins or if they have more in reserves ready willing and able to dump? A dump of less than 3000 btc in a couple of hours does not seem like a lot of coins.... unless they were already kind of running out of coins from the earlier downward pushes from yesterday... ? I certainly don't know that kind of information. Anyone else have ways to know, except by watching volume and kind of guesstimating?
Poll
