Plus I have sand in my vagina because I decided to go long at $7.15 last night
I have a message for my fellow bulls, who have been zhoutonged or hurt by this correction.
The correction is actually an enormously bullish sign. Here, look at the charts.
The sand is because i shorted too early when it was 6.25, when it broke to 7.2 I made an emotional decision and flipped my position.
I've found this to be one of the best indicators around. In the cold light of day today I released that I had been total rash. I've spent most of the day reviewing this and made the tough decision to close again for another loss.
You see bullish signs on those charts, I am long term bullish, I'm holding a stash long for the long term, but my play money is for trading and right now this is the daily chart I am looking at...
Failing to break out of bollinger, and a lot of room to the downside.
They give me the sense that this rally is over (for now), and a correction is on the cards.
Money flow OBV and PVT all peaky but a closer look at the hourly:
Failed attempt to break above 7.20
OBV and PVT failed to make new highs
Thats just my opinion, as unpopular is it might be right now!
I'm about 33% long BTC, the rest is in USD and I have a bunch of buy orders all the way back down to $2. (I've even sent some loving zhou's way, I just kind a like that site however much it screws me, or rather, I screw myself on it!)
I tell you this, not because I think it will have any effect (I think the market is big enough now, that these forums do not have an effect - if indeed they ever did!) or because I think anyone should do anything based on my view, but so that I can say 'I told you so' if I'm right
Good luck all!