18/09/2018/07:50CET
the up and down of btc is making me dizzy. Maybe we should wait to get onto this ride once it resets.
Yesterday #btc got slammed down again. This is what I was predicting in my post a few days ago here
At press time we trade at 6267usd after having scaled up to the 21 deam indicator at mid 6550usd levels.
And then we were swamped by a whale. I did not know that it would go down like this but in my previous post I shared that I had a strong feeling we were going to get slamed again, and we did.
#Bitcoin is down 4.2% in the last 24-36h and it lead the entire crypto complex lower.
total crypto market cap had climbed back over the 200bill mark just before this piledriver and now stands at 193bill
Lets take a look at the charts...
As I said #btc fell down again as it reached the 21 dema. I was hoping it would scale above this indicator and explore the upper levels of our wedge but it broke down. The silver lining in the dark cloud is that 6k holds yet again.
Ether erased much of its rally of the last days but stands above its latest lows which should be taken as a good sign at the moment
We are still in bear territory guys. No doubt about it. It is hard to make a buck down here as more trades that not loose money. This is disheartening.
CMC's home page tells the story here...
Interestingly XRP is the only big coin that has beat out.
But as you can see in the chart here, nothing to get excited about...
Anyway guys, not such a happy post today. Looks like September is going to be a wash out month as our optimism at the start of the got destroyed in the first week and has not really come back since.
My feeling is to pare back all my positions to core long term ones and keep a bulk of my speculative funds in fiat for now.
As always guys, leave comments, have fun and trade safe.