As you already know we are in a clear bear market right now. I shown concern about this eventuality 2 weeks ago in older BTSBTC post about the 1D crossing the signal (early market sign).
Here we are today, fighting against the bear. AS we had so much bull momentum i didnt clearly called the red flag, but inside me i was preparing myself for that. Thats why i putted everything in fiat and returned at 4000 sats lvl in BTS basing myself on the 4h consolidation. At this time it was more a bet than a professionnal move. 1D chart wasnt showing clear reversal data. The other mistake i made was to not put stop loss at 3800 sats resistance. So im here contemplating my 30 dcember 2017 call with empirical evidence and asking why i didnt listened to myself.
These are these situation were i learned the most in the past and that make me better at making TA. Feelings are our own worst ennemy, emotions drives logics aside and make you put yourself in bad position most of the time. Everyone should look at each events and try to understand how to be better the next time. Thats what im doing right now. Making this present loss as a futur investment by growing my knowledge and building trust toward my method, knowing how i behave to prevent this in further event. I may add, keeping an 10-15% in fiat to buy the dips will be considered as a futur holding strategy to buy the dips
As i expect a BTC price going to 9kUSD, BTS might really see those targets. Im a long term hodler for BTS so i can cope easily with the market. My only regrets i to not have behave according to data which would have permit me to stack more BTS !
Take care guys,
Go outside breath fresh air during this market, dont worry, be happy,
There is a rumorson steemit that AriseBank might make an annoucement about BTS : https://imgur.com/a/Q5xCk. But nothing on Jared Rice Sr. (AriseBank CEO) twitter.
What is important as a trader to know is that price MIGHT visit a lower low. Being informed of that a good trader will set stop loss, which i will. Then buy cheaper if we go there (wave 5 target)
Now this old support line is a resistance line, see :
Its been almost 1 month since i warned about a bearish movement
I still have hope that BTS bounce right up at the support line but habitually when MACD 1D cross the signal it must be follow by a upward movement while BTS follow the bearish route thats why the bearish 1-5 wave count still remain.