This morning we saw a nice spike in Crypto.
Normally I'm asleep when these things happen but this time it happened in the morning.
I decided to take some profit in the same way I buy crypto.
I sold a tiny amount to Fiat.
If it comes down from here, I'll buy it back and when it goes up I'm also happy.
And that's pretty much how easy it is.
My general rule: You will always buy too early and sell too early. Just accept it. In the end Profit = Profit.
On Bitcoin I'm following this chart with interest. Especially after learning a little bit about TA.
(I always thought TA was hocus pocus, but by now I have seen it work too many times explaining price movements I couldn't figure out with fundamentals. But I am no expert and it's more of a hobby for me.)
That green line is the Daily moving average of BTC over 200 days.
It indicates the current trend (bearish, it's pointing down) and acts as a resistance (it's hard for price to trade higher than that line).
But for the first time since a long time we are very close to breaking it. That would be a good sign. But as of yet we haven't done so.
We also want that green line pointing up instead of down, indicating a bullish longer term trend but keep in mind it does always lags behind (it's an average of 200 days) so it could mean the bull trend has already started in dec 2018 it just doesn't show yet.
For now it indicates that the bigger trend is still bearish (and I do keep that in the back of my mind, like this morning).
But in general it's all pretty much long term strategy for me (I am super bullish on crypto long term (years)) and when it comes to making decisions like this morning they are all my own but I do like following the charts more than before.
Good luck!
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I think the big lesson learned last year is until you cash out, you haven't made squat! Well done on your gains man :-)
Cg
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I was sort of lucky I learned that lesson in 2013.
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Ha! Good to see the lesson stuck!
Cg
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I did not think i can remember the last time i made a profit from crypto. You are damn lucky
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What is TA? (Pardon my ignorance.)
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Technical Analysis (algorithmic ways using various time weighted averaging to try and predict future price movements).
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Thanks @bengy.
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I woke up an hour after the high.. and now I dont want to leave the house until I find a good time to sell to wait for the crash lol.. glued to screen!
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Been pretty stable so far. What did you end up doing?
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I've put to sell all at 5184 then ill wait for a correction. Its funny situation for me because I cant just cash out into fiat unless I sell the btc in cash to a 'Bitcoin dealer' from local bitcoins for example.
I went yesterday in Krakow, to a bitcoin exchange shop and it was closed down haha.. Then went to the other one which was open!
I wanted to get some cash, and asked what percent they charged - And the reply was "no bitcoin!" from the guy in an empty room who didn't even have a computer there..
Then when I explained that I would like to sell some, he said no not here (Its a real bitcoin shop apparently!) I liked Poland as they have Atm's here outside shopping centers and these shops, but so disappointing the shops arn't real hahahah
EDIT! : Cancelled the sell order hahahahah! Interesting next few days :)
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You always follow what your guts feeling tell you!
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Most of the time. It doesn't mean it's always turns out the right choice though.
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In the process, you can make good choices!
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That is definitely a good one for your. Thanks for the detailed explanation on TA too. Kudos.
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I did the same myself :)
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Enjoy!
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I had a small bit of BTC in my Revolut account. It doesn't let me hold my keys, so its not my Bitcoin but its nice for moments like this. I like to be able to make something from these spikes and still hold my real BTC.
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Like wise as you said chart is well now and it can be bearish for as per chart TA . but at the end BTC will be more bullish then ever and it will cross ATH then after . As of now i think this pump is for people who always buy when it high AND they sale when it's low with fear . 😀
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The power/respect of the MA is incredible, even people without much knowledge know that the MA tends to reflect the mood and action of the investors.
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Good idea as risk management is a key part of creating wealth! I have considered it as well but this latest rise seems different given the volumes and the participation of other assets like Litecoin.
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Naah!
Only taking profit at STEEM $10, EOS $100, ETH $2000 and BTC $200.000... :)
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Haha! Love it. You have an ETA?
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2020/21 for the alts, bitcoin later... :)
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2020/21 for the alts, bitcoin later... :)
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That was a massive jump always great to have some fiat ready for buy back
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Thank you so much for participating in the Partiko Delegation Plan Round 1! We really appreciate your support! As part of the delegation benefits, we just gave you a 3.00% upvote! Together, let’s change the world!
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good
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