Whenever comes to TA it is hard to predict when the market will dump specially this market. However, a lot of inverstors were waiting for dump like this. When it will turn around anyone's guess.
Howeever, your goal should be to sale and buy at lower price if you cant do that just leave the trade for long term because this market will turn around and hit ATH again.
I have seen countless dumps like this not my first radeo. I usually play along with it like buying and selling and aquiring more coins that is one strategy that works.
Don't let fear overtake your life and dont let emotions control your actions.
Are you sure that its wiser? I think that is kinda late as of now, it might be slowly turning around. i didnt run the numbers, just wondering...
cryptobitdaily
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@Acel, if you know how to play it but if you cant then it is not worth it. Over the years I have become good at finding lows and highs and trade based on that
Acel
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@JamesNiro, hmm i see. Too tired to run the math on a spreadsheet rn. I would just hold and see how it goes so i would be prepared the next time. If it ever happens. LOL :)
Acel
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@JamesNiro, by the way, since you have more experience, in situations like this. Does Bitcoin recover faster than alt coins? I mean in %.
cryptodev99
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@Acel, Bitcoin will recover slower percentage wise but the actual dollar amount is larger.
Acel
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@cryptodev99, oh maaan, its like you are telling me to do the spreadsheet! Haha just joking, thanks for the asnwer, i appreciate it a lot.
cryptobitdaily
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@Acel, it is late at the moment since it hit the bottom. Always zoom out in days like this to find out the last bottom and go by that. Fib is your friend
cryptobitdaily
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@Acel, BTC, BCH and ETH will recover much faster than other coins. Because these coins are the giants in the room and people see the dollar in them so they put their money into those coin. Other alts will recover but much slower after these coins goes back to normal
Acel
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@JamesNiro, i was expecting to have LTC too in there since its going hand to hand with BTC. I was expecting to crash but this was way too much. I think i zoom in too much in my theory and didnt look for other alternatives. Forgot to add human emotion on the algorithm. :D
Was expecting it to hold the September line.. Maybe this is the beggining of a new circle..
cryptobitdaily
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@Acel, For me LTC/ BTC give the same return so no reason to have my money in both specailly that we have BCH in play now