RE: Why Bitcoin Could Fall Lower From Here

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Why Bitcoin Could Fall Lower From Here

in bitcoin •  7 years ago 

I'm not sure why you wouldn't sell a portion of your position if you think it will go lower on the short term. I say buy what you think will go up, and sell what you think will go down. Isn't this basic investing? Could you explain why you aren't going to sell any right now?

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7 years ago by

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      ·  7 years ago (edited)

    One has to pay attention to basic indicators such as RSI, on the 4 hour scale, it is oversold and at the strong resistance point at 13k. There still is a chance for it to go up and only when it does break should one be a bit more concerned.

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        ·  7 years ago 

      You're generally correct, but I already positioned my portfolio back when I bought Bitcoin at $11.5k for it to go all the way down to $8k. In other words, I already have enough cash in my portfolio.

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