Everytime I see red days in the charts like yesterday, I alway remember this classic:
Panic on the streets, but we should all be used to this by now, shouldn't we? ;)
First things first: my monthly recap is almost a week due, so here it is:
| Jan 2024 | Last Month | May 2024 | |
|---|---|---|---|
| HP | 10930 | 12056 | 12296 |
| LEO | 1846 | 2215 | 2279 |
| HBD | 1416 | 1263 | 551 |
Still almost 250 HP added, which is not that bad considering how the past month was; my posting consistency is probably near its all time low, but it is what it is. Hive's price is also as my posting frequency, which also explains why my HBD keeps falling in these recaps: it's a too good opportunity to miss, to not stack hive at these sales prices! So that's what I've been doing, dcaing into hive with my hbd savings. In retrospect, I should have just stood still and wait for a moment like this; but no one has a crystal ball. And although now seems the golden opportunity, I did get a pretty decent average hive price so... time to play the long game! Can it go lower? sure. Do I care? Nah, not much. If this move doesn't play out in the coming months, it means we're all ****ed, so there will me much more to worry about! :)
So, what about the crazy market? I've heard some theories about bank of Japan this, bla bla bla... there's always some reason, but looking at the charts, this is what we see:
It was a 50%ish retrace from this last upwards move, that started last September; and I wouldn't be surprised if it went down a little more! Truth be told, we still hadn't seen a decent correction since we started going up like a rocket. And if we zoom out, we can see that before previous ATH, we had an even greater correction!
Markets do what they want, and no matter how much technical analysis points a specific way, in the end it's all about probabilities and there's no way to tell what the market will do. But hearing about etfs, institutional adoption, big asset managers entering the market... which way do you thing we're more likely to go? Up or down?
I'll keep trying to learn as much as I can and take advantage of these dips to increase some positions. And in a few months, I'll find out if I was right or not! ;)
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