And who is buying now?

[zby]

Hodlers hodl - they are irrelevant, but who sold at 900 and now is buying back? For me it looks like at least a temporary bottom.

[chesthing]

Me, if it hits $600. Hope it does soon so I can go to bed.

[koryu]

sold at 900$ did some daytrades at 800$ and now i am buying back in on the way down.

long term bullish so i expect it to go up again sooner or later

[1Pakis]

Trading actually

Code:

7835875	BTCUSD	Exchange limit	-0.8051	-0.8051	$675.0000	$675.0000		about 2 hours ago	Executed @ 675.0(-0.81)
7833176	BTCUSD	Exchange limit	0.735	0.735	$621.0000	$621.0000		about 2 hours ago	Executed @ 621.0(0.73)
7812876	BTCUSD	Exchange limit	0.7133	0.7133	$668.0000	$668.0000		about 2 hours ago	Executed @ 668.0(0.53): was partially filled @ 668.0(0.18)

[calian]

Had done some spending. Today was a good time to replenish. 

[TERA]

I got burned bad by attempting to trade the downtrend in June. I swore I'd never attempt to daytrade during a downtrend like that again. I think I'll wait for a 4 hour macd cross or something.

[Mythul]

I got burned bad by attempting to trade the downtrend in June. I swore I'd never attempt to daytrade during a downtrend like that again. I think I'll wait for a 4 hour macd cross or something.

Same for me last december.

[keatonatron]

It'd be silly not to buy now. Nothing has happened that spells doom for bitcoin, why lose faith?

[TERA]

I got burned bad by attempting to trade the downtrend in June. I swore I'd never attempt to daytrade during a downtrend like that again. I think I'll wait for a 4 hour macd cross or something.

Same for me last december.

December was actually a good time to trade though. All the weekly and most of the daily technicals were still pointing skyward. That means there would still a massive amount of upward pressure to create huge rebounds after every drop and save your ass (or make huge profits). Now all of the technicals are pointing DOWN so there is no general upward force anymore - very bad for trading.

[1Pakis]

The trades are in reverse. Top trade executed last.
I also did arbitrage trading between btc-e and bitfinex about 30$ profit for 1 BTC

[Kramerc]

I got burned bad by attempting to trade the downtrend in June. I swore I'd never attempt to daytrade during a downtrend like that again. I think I'll wait for a 4 hour macd cross or something.

Same for me last december.

December was actually a good time to trade though. All the weekly and most of the daily technicals were still pointing skyward. That means there would still a massive amount of upward pressure to create huge rebounds after every drop and save your ass (or make huge profits). Now all of the technicals are pointing DOWN so there is no general upward force anymore - very bad for trading.

I know that you only trade with a fraction of your BTC position, but assuming that you're not full fiat now, would you buy on the way down, or do you expect a medium time-frame macd crossover for an entry point?

[Rampion]

I am.

[TERA]

I got burned bad by attempting to trade the downtrend in June. I swore I'd never attempt to daytrade during a downtrend like that again. I think I'll wait for a 4 hour macd cross or something.

Same for me last december.

December was actually a good time to trade though. All the weekly and most of the daily technicals were still pointing skyward. That means there would still a massive amount of upward pressure to create huge rebounds after every drop and save your ass (or make huge profits). Now all of the technicals are pointing DOWN so there is no general upward force anymore - very bad for trading.

I know that you only trade with a fraction of your BTC position, but assuming that you're not full fiat now, would you buy on the way down, or do you expect a medium time-frame macd crossover for an entry point?

I don't know where you heard this about me. This is the strategy of many on this forum but I myself have been for the most part 75% fiat ever since $900. 25% I don't touch and keep in cold storage and on cryptsy to trade altcoins.  I have been rebuying to 40% on 1 hour crossovers and rebuying to 55% on 4 hour crossovers, and selling accordingly.

I have to admit today using a 1 hour crossover strategy has royally sucked because it looks like $80 of profit on stamp is already gone (a whopping 12% profit). It's so much I don't even feel comfortable making the trade anymore.

[djarot]

 i always waiting this moment, maybe tomorrow I'll start buying BTC

[TERA]

I also do that cowboy style trading where I try to catch the very bottoms and buy and sell all the waves, fan out incremental orders, etc.  I did it an April and did it in November+December. But not now when all the longer technicals are upside down like this - then it becomes too risky, like I explained earlier.

[Kramerc]

I also do that cowboy style trading where I try to catch the very bottoms and buy and sell all the waves, fan out incremental orders, etc.  I did it an April and did it in November+December. But not now when all the longer technicals are upside down like this - then it becomes too risky, like I explained earlier.

But would it not work to do the other way around this time? Sell at resistance levels and then buy with discount at support? And if support fails, even better? Or do you consider the  choo choo taking off for the moon being too much of a risk?

[1Pakis]

I also do that cowboy style trading where I try to catch the very bottoms and buy and sell all the waves, fan out incremental orders, etc.  I did it an April and did it in November+December. But not now when all the longer technicals are upside down like this - then it becomes too risky, like I explained earlier.

I do this https://cryptotrader.org/backtests/YPB2TpLr7QvmoD6Wh with about 10% of my worth in BTC.
I also do arbitrage & ALL IN BTC when we break the last ATH.

[seleme]

I bought 7 BTC on 630$, 25k$ more waiting to see if bears are just idiots or full idiots 

[Kluge]

Unless you were really bearish before and think the drop was a correction, this is a pretty clear overcorrection, so I'm buying a little. Everyone knew a Gox implosion has been imminent for about a year.

[TERA]

I also do that cowboy style trading where I try to catch the very bottoms and buy and sell all the waves, fan out incremental orders, etc.  I did it an April and did it in November+December. But not now when all the longer technicals are upside down like this - then it becomes too risky, like I explained earlier.

But would it not work to do the other way around this time? Sell at resistance levels and then buy with discount at support? And if support fails, even better? Or do you consider the  choo choo taking off for the moon being too much of a risk?

It's too difficult to identify these "resistance" and "support" levels during a serious downtrend. I thought support today was going to be 750 or 720 but it was 619 and now I have no idea where "resistance" is going to be. The levels are always likely to be lower than I expect or descend too fast for me to respond to and then I make a failed trade, losing fiat value. During a downtrend it is important to preserve fiat value rather than coin value and it will ultimately end up buying me more coins - as long as I reverse this strategy once the uptrend starts.