Re-test the low


#1

I’m thinking a big sell off is on the way. Sold out early again. Volumes just don’t make sense for me. It’s gotta go down in the near future. Maybe Ada will hold up because of Shelley. I’m seeing resistance and that must be the reason but we’re still tied to btc. Bear flag in the making. News seems obvious to be impacting the price but volumes just aren’t there. Hope the ETFs hop in soon. Anyone else feeling the same? I’m still waiting for .02-.01.

This is not financial advice. Anyone trading in crypto should consult a financial professional. This post and all of my posts are for entertainment purposes only.


#2

What are people’s thoughts on this?


#3

So Michael, l have a lot,do u just forget about it like Leo says and hold for two years or so ,or sell and buy back in when another inevitable drop occurs?Most people agree that another big drop is coming.


#4

Shelly is not in concrete so ADA will follow bitcoin down


#5

I do not hodl and pass up highs and lows. I trade. I dump everything when I sell. When I buy bavknin my position is the same amount or less by USD. I think in one instance I may have paid a slight bit more. Hodling to me is a long term strategy that just doesn’t work especially if you bought in at s high. It works if you don’t know how to trade or do not because you may lose the position you had only to be in a worse position with less. I’m not in love with this coin and will be critical of it when it’s warranted. The thing is I’m only in it for the money. When it hoes tobthe ipside, sure I might hodl but making 10-15% every couple of days/week pays off. 100k yields me 10k more coins on a 10% swing to the upside. I could bag the 10k and work with the 100 if I wanted and build a reserve hodling position if I wanted. Maybe when the big dump and pump right after comes in. Satoshi needs a new pair of shoes!


#6

True but if you look at trend and patterns it hasn’t been following BTC as it previously was and the RSI ratios are off as well. More money flowing in %wise than should be. There has to be a reason ppl are buying when they should be selling, right?


#7

Futures definitely has a huge impact. This to me is just a poker table for whales. It does legitimize BTC though in a way. Gemini has been advertising all over NYC so that’s going to help legitimize BTC as well. I’m wondering about the impact to alt coins to a narrow degree. I expect mostly the same but projects with promise should be able to break away from BTC I would hope. BTC dominance is just so apparent.


#8

Yes, true l have noticed a little difference not following BTC as much.


#9

Yes l got $2700 up the other day,should have sold,and waited to buy back in.l only paid an average of 0.0603 so l figured it didn’t really matter but now as u say,new lows look like being tested.


#10

The volatility is hard to contend with so my trades are short and fast. I know I could stay in for a larger gain but I got caught once when I first bought at .28 and after that I said nop no more waiting. The only drawback is a late entry if it starts to moon but inwatch for significant events.


#11

It all looks like slow pump and fast dump to me since new year. I’m taking a back seat.


#12

I’ve been watching. Seems like it. I’m just about a firm ni buy until .02. The RSI doesn’t support. It’s the same ol money flowing around allowing people to exit and leave the donor pool high and dry. Early buyers still get a big gain at .02. I’m on the sideline as well. No new cash or rebuy until something significant or the drop I want is in play.


#13

major resistance in the 3770 - 3880 region. Moving averages also stacked here.

Most likely outcome is a drop to retest anywhere from the previous bottom to the weekly 200ma at 3260 followed by a bounce to make a lower high. 3k wont be broken that easily there it tonnes of support here ! 3500 needs to be broken first though or it cam just keep bouncing around.

Im still short and looking to add to shorts on any pump ! Eth also looks really good for a short but want to get in at around 140 and hold as can see it going below $60.

Such a good time to be trading !


#14

When btc breaks 3k and starts looking to find a bottom the alts will crumble to new lows !


#15

Here’s more on this idea from the Federal Reserve Bank of SF:
https://www.frbsf.org/economic-research/publications/economic-letter/2018/may/how-futures-trading-changed-bitcoin-prices/


#16

YES!! That’s what I’m hoping for!


#17

Crumble is a word you use,that Charles Hoskinson would never even contemplate regarding Cardona project. That’s why he is where he is and you are where you are.


#18

haha im a realist and personally couldn’t care less how low cardano goes. I trade and am not a bag holder throughout a bear market. See you at 2 cents


#19

fingers crossed ! but right now we are just in a tightening pattern and it looks like it could go either way. Any pumps now though are just prolonging the inevitable, am just planning to load up my shorts more at any opportunity.


#20

I know your type delighting in
a downward gap of others entry points and the current price.