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Cryptocurrency mega-thread

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Evolved1 said:
I've found trading the chart works best for me. On chain metrics aren't as reliable an indicator in my opinion.

Meandering above support isn't a sign of strength. The more support is tested, the weaker it gets. There are spots between here and high 20's where things could turn around, or alternatively we could fall right through and dump straight to the mid 20's.

Your strategy is different to mine. My number one goal is protecting capital, and there will be places with better risk/reward to short and long than here. I don't care if I need to buy back in higher.

The signs were there at the top, but people were too busy looking for a BTC blow off top to sell. Blow off tops happen when retail is FOMO'ing, which happened with some of the alt charts. Take a look at the monthly ETH chart for example.
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I absolutely use the charts to make my decisions as well and given that we have been below the 20 week SMA for a month now, it’s clearly not recovering in the short term.

I’m a believer in the lengthening cycle theory, but that doesn’t mean the previous ATHs can’t be reached again this year and then resume a run to 100k in 2022. Anyway, only time will tell and I can afford to accumulate now and ride it out.
 
Evolved1 said:
There are some coins I wouldn't be accumulating here irrespective of strategy. DOGE for example is still highly overpriced. A lot of alts look like they've entered a death spiral. Buy the dumps and sell the bounces is the way to go.
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Oh absolutely not, I’m only accumulating ETH and BTC. Not even touching Cardano until the smart contracts launch on the mainnet.
 

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Evolved1 said:
There are some coins I wouldn't be accumulating here irrespective of strategy. DOGE for example is still highly overpriced. A lot of alts look like they've entered a death spiral. Buy the dumps and sell the bounces is the way to go.
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It's so easy to accumulate at this stage with smaller outlays and it makes the DCA look much much better.

I'm accumulating DOT and I'm only picking up 2-3 at a time at various price points.

One thing I never get is why people spunk all of their money in one big buy.
 
Bostonian said:
It's so easy to accumulate at this stage with smaller outlays and it makes the DCA look much much better.

I'm accumulating DOT and I'm only picking up 2-3 at a time at various price points.

One thing I never get is why people spunk all of their money in one big buy.
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Depends on strategy. I like to ape in and ape out, though I'll probably DCA closer to the next halving.
 
Evolved1 said:
Bought the top again. Didn't he buy some at 59k?

When is that next billion coming through?
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Hardly the top, basically mid range. He now owns 0.5% of the total supply. An average buy price of 26k for about 105k BTC seems ok to me.
 

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Evolved1 said:
There are some coins I wouldn't be accumulating here irrespective of strategy. DOGE for example is still highly overpriced. A lot of alts look like they've entered a death spiral. Buy the dumps and sell the bounces is the way to go.
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Have to laugh when someone says a crypto is overpriced or underpriced.
 

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In the fiat world if an asset fell 23% be called black Monday in the crypto world it’s called Monday.
 
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