Looks like everyone waiting to sell at $51k is going to get their chance.
Telegraphing the next "smart" move of brokedummy...
Go figure.
I'm thinking we are in a down channel on the 2hr chart, with what looks like support some where around the 49 mark, but would be down at around the 47 mark within a few days, which is what the on chain analysis guys are saying is the support level.
Good thing about down channels is they almost always break to the upside and after which there is a nice long rally.
BTFD
Sell now (at $50,766) and buy back at $47,123... .. that is one way that BTC HODLers end up losing parts of their BTC stash - or even causing their own little selfies into becoming a disgruntled nocoiner. #YMMV.. good luck.
Another more solid strategy remains something like what somac is suggesting. If you have $2,000 that is available for BTC purchases and you don't know what to do exactly, you might set staggering BTC buy orders with that money.. such as buying $400 worth every $1,000.. $50,766, $49,766, $48,766, $47,766, $46,766.. or some other variation.. that may well include keeping some of that fiat (if that's all you got) in reserve in the event BTC prices go lower than $46,766.. and if that's all that you got, then you might consider setting buy orders that have greater spreads or go further down the price potentialities.. which may or may not happen.. Surely, the more spread out your buy orders down the spectrum of possibilities, the less money it seems with which you have to work.
How you divide your budget, your BTC buy spreads and how far you go down in your consideration of BTC buys is going to vary depending on a lot of personal circumstances...
For example, I frequently consider that if I were to get a stash of money that I had not expected to have, then I would conceptualize that value into three categories: 1) buy now, 2) DCA, 3) buy on dips.. If you already have a system, then you just plug any extra value that you might receive into your already existing system in the allocation amounts that are comfortable for you that might include assessments of the level of the potential dip that may or may not continue to happen.
The DOWNity is seeming pretty damned convincing at the moment, but frequently we see those kinds of momentums change all of a sudden and then they are over.. and sometimes they contain a pretty BIG ass candle or set of candles that give a stronger indication that the DOWNity is over.. at least for the time being.. in other words, its not over until its over. Cry if you must and cry if you spent all your fiat at the $57k dip.
Poll
