I've gone long on btc in my demo account. Anyone been game enough to take a real position?
Based on fundamentals not technical.
Howdy Dan. I have taken a position in bitcoin on occasion just using the lowest contract size (0.1 ? I think) I can't get a read on it and there is not enough data to go back and analyse previous patterns. I watch it now but don't take positions, except the demo account. Did you catch any of that green candle from Wednesday?
Howdy Dan. I have taken a position in bitcoin on occasion just using the lowest contract size (0.1 ? I think) I can't get a read on it and there is not enough data to go back and analyse previous patterns. I watch it now but don't take positions, except the demo account. Did you catch any of that green candle from Wednesday?
Nathan I'm not working off technical analysis for this one. The way I see it the SEC and alike are threatening the (American) exchanges with some sort of reform/regulation. Most of these exchanges are fractional, trading with bots and mainly off chain. They certainly don't have the coins they are leading us to believe they have. I believe they are creating USDT to dump on the market to suppress the price of BTC so they can buy up the amount of BTC they are supposed to have at a more palatable price. You only have to look the volumes to see they are still trading vast numbers. Is this the bottom? who knows! but you can only squeeze something so much before it oozes out of your fingers.
Id buy the physical if I had any spare change, or at least LTC.
I agree with your analysis Dan... and even go further to say that at the moment... cryptos are a bargain at the moment. We'll look back at these prices in a few years from now and say... "if only".
Sell the yacht... sell the jet... sell the car... sell whatever and buy!
Thanks Dan, Paul...I was coming to a similar conclusion. The Dollar Vigilante was talking about this recently and he quoted Warren Buffet, I think it was: "the time to buy is when there's blood in the streets".
As for taking a position, well I don't agree with you Nathan that there's not enough data. What I suggest is you have a look at past MACD crossovers and see how the checklist performed.
Good point Alan. I havent actually gone back and studied it. Have you had a go on btc (cfd) ?
No, not yet. But I'm keeping an eye on it to see if the MACD crosses, what the score is, and whether it's a dead cat bounce or not. Then I'll decide what direction to take.
I closed my long out last week before the last big drop.
Clif is calling a low of $1200
