Is that the top for Bitcoin or are we ready to bounce here? The market is still under pressure and we'll look at some key price levels to watch for Bitcoin. In depth Bitcoin technical analysis and my thoughts on the general market and some bright spots.
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From the Node Investor of course! Actually, It's been a long road of reading, seminars, web courses, training with others and LOTS of experience in bull and bear market cycles. Stocks, commodities, real estate, you name it.
Souli i do a little of both. If the price drops significantly, i may try to hedge my earnings in another coin. Or I man cash out, and wait for the low and buy back in. But the ultimate goal is long term hodl always.
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Bitcoin is the reserve currrency of the crypto market, to buy OMG, NEO or whatever hot alt one needs BTC, so for money to enter the market it must go through the portal that is BTC, which keeps the revolving doors of prices spinning to a degree.
im not too worried about btc right now. i might trim off some at the 4400 but i think we will be retesting 5k soon-ish
however! i think 2018 will be the graveyard year for the vast majority of shitcoins or as theyre now known as "tokens". so many of them are going to die a horrible, horrible death.
Evidently there is a direct positive correlation between Node Investor's popularity and his market sentiment:
Node Investor calls bull market, people be like: "YAY NODE INVESTOR UR THE BEST LET ME SUCK YOUR COCK THANKS FOR THE VIDEO BUY BUY BUY BUY HODL HODL HODL"
Node Investor calls bear market, people be like: "FUCK YOU FCKING COCKSUCKER WITH UR STUPID TECHNICAL ANALYSIS SPREADING FUD OVER THE INTERNETZ WITH UR DUMB TREND LINES"
It is really strange ; if you don't believe in the merits of Technical analysis, don't watch this! Easy as that. If you watch it to get something out of it and then saying technical analysis is BS is silly guys. There are fundamental analysis. There is behavioural finance. There is technical analysis. If you don't believe in cyrptocurrencies fundamentally above all, don't even hang around here. I believe that, Node Investor is a good fine man. Even though I believe, this is a correction that will take us down to 3650 area. Technical analysis for me says, NOT NOW. Seeing angry investors blaming irrelevant things is in fact a good sign in terms of behavioural finance. Keep up the good work Node Investor!!
Warren Buffet was never interested in charts.
1. "Our favorite holding period is forever." This is buy-and-hold investing, pure and simple."
2. "You shouldn't own common stocks if a 50% decrease in their value in a short period of time would cause you acute distress."
3. "In the short term, the market is a popularity contest. In the long term, the market is a weighing machine."
4. ""If you aren't willing to own a stock for ten years, don't even think about owning it for ten minutes. Put together a portfolio of companies whose aggregate earnings march upward over the years, and so also will the portfolio's market value."
TA has its place, but trying to time the top can be very difficult and thus very risky for noob investors. Long term, holding and buying more on dips is the safe play if you are not a pro. The last bear was vicious, but it lasted how long, one month?
Appreciate your video man. The reality is most people in the crypto space never had the fundamental knowledge on how to read charts and/or learn how to trade, i.e., cut losses, ride winners. People says TA doesn't work on crypto and that everything are based on news. Truth is everything fundamentals together with people's emotions are printed on the charts already, for us folks that were adapted in the forex and stock market for years and made the transition to the crypto market really do shake our heads when we hear advices such as "you dont lose until you sell" - thats the worst kind of advice you can give to any investors that are looking for potential profits in any markets.
Couldn't agree more. I am definitely bullish longterm on Bitcoin and a lot of the solid alts, but it's been a crazy run and you can just feel the deflation in the air. Even if China came out tomorrow and said just kidding, we aren't even going to regulate anything, we would see a brief spike, but the bloom is off the rose for now. Going to take awhile to regroup and build back up the steam. I think September is going to be a rough month.
As you say the alt coins usually do even worse than BTC in the pull backs the scale is always multiplied. So I figure take my profits now, whish I had done it a couple weeks ago! But taking what I've got left so I can buy more back later. I know what looks good and in July I wish I was more cash rich on the 16th I could have went on a wild spending spree that would have reaped amazing rewards.
I think so many have just gotten used to wild swings that we accept 30% dips like it's nothing, LOL when the reality is you could have bought 50% more coins had you pulled out. Most dips are unexpected so you can't really plan for them, but seems like this one is due and I don't think will bounce back as quickly as the dip on July-16th
I had to laugh when you said which coins you are holding, I was going to keep my ARK, OMG and CLOAK, decided to sell out on the last two as they were pretty big positions and didn't want to lose those gains.
About 70% cash now.
just HODL. Don't know why people (not saying you) want to be shorting every single day, especially if you don't have the time for it. If you are investing, you are mainly going to hold for a long time (3 to 4 years is average) and you will make your money.
Yeah when ethereum rode up to 420 I held to through the July downturn and was down thousands of dollars. Should have sold it sooner, I'm cautious this time around but don't really want to sell since the next upgrade metropolis is coming early October.
Stops??? I have made my biggest gains holding altcoins while they tanked and then rose 1000%. There are different types of traders. Some coins I buy and just forget about em. Cloak. Boom...bought at $3. Will sell one day. Love your channel and tech analysis. Some of us just don't have time to track market and buy and sell all day but I respect day traders. Takes incredible discipline and courage and a game plan. Kudos!!!
Stop spreading fud yo. That's exactly what's driving the market down right now. Stupid fake news coming out from China is bringing the market down and people like u drawing lines on graph spreading fud ain't helping nobody. Bitcoin is up 10,000% since 2011 this year's 500% is nothing. Stop spreading bear market this and that.
Node Investor traders hate to believe this but the truth is, people that hodl are the millionaires in crypto and the biggest gainers. There is even a study done by a big research firm that shows riding through all the ups and downs of the market will gain the most and the traders that constantly tries to buy fomo and sell the crash make the least.
Everyone else will tell you HODL all the way down. I was right about that correction that took us down from $3K to $1800, and guess what, I was one of the first to call the bottom. I'm not gonna shy away from calling like it is even if its unpopular.
Node Investor you're simply predicting a bear market based on 500% increase this year in bitcoin and im trying to tell u a bear market will follow just because of 500% increase in crypto is foolish. You also predicted a down trend in your previous videos when btc was hovering around $4,200 and what happened a week later? It shot up to $5,000 ath. Keep your fearful wrong predictions to yourself and stop spreading fud in the market. You have over 30k subscribers and shit u say can influence the market. Thank you.
My thesis is purely long-term. I am focused on 2020, and beyond. Cheaper Bitcoin/Alts just mean more I can buy. Bring on the bears, and let the real winners emerge with real use-cases, and quality platforms/apps.
I agree. I feel like Node Investor and many others focus on short term investments. For those that have the time to do shorts on a daily basis, this is important to know if we are entering a bearish market trend. For those of us long term, just buy on the dips and HODL.
Technical analysis and charts have their place albeit a small place, need I remind you that 90% of traders end up broke. That being said, I think BTC is on its way down for awhile, possibly to $3,600-$3,700. I too am selling some BTC and going into cash for now.
If you trade in and out or say: Bit/Eth/OMG/LIT why would 90% lose money. Just look at one vs the other don't trade if you will lose money.
Check out this guy
I absolutely love this video. I will be using his techniques in the future (well, practising with them now with random crypto pairs on coinigy.)
+Node Investor Like I said TA and some charts have their place albeit a small place, looking at the 1 hour, 30 min., or daily charts are good only for traders looking to make a quick buck short term. I go out 1 week, even 30 days or longer on the charts and include new news, FUD, new technologies, new upgrades, forks, global issues, etc etc. I see BTC with all of the above considered moving down to the $3,600-$3,700 range. I could be wrong, I am obviously no expert, no one is in this crazy volatile market. But I've been in it for over a year now and I've made alot $ and lost alot $ through trial and error, still much to learn, it's consumed alot of my life over the past year and I fucking love it.
Try the 100 MA on the daily chart. See the previous consolidations after record highs? I'm trading for the price to cross the 100 MA around the end of the month/beginning of next month. Maybe 3600-3700 before heading to new record highs
Even if TA is BS, you cannot deny that it can be an important self-fulfilling prophecy. This channel has 36k subscribers, and there are many, many other channels like it, applying the same TA "rules" and looking for similar patterns. BS or not, when all these people spot the same pattern and make similar decisions (e.g. "the support broke, next leg down, everyone sell!"), it WILL affect the price and their TA-based predictions will come true. So ignore TA's all you want - if enough other do follow them closely, they will affect the price, whether you believe in them or not. And if you can't beat 'em, ...
Healthy market. Inevitably bitcoin will be the worlds digital gold. Other Litecoin will be the worlds day to day "money". I invite pull backs as an opportunity to buy more. Once in a lifetime chance to become financially free
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