Positive reactions on supportive blue lines answer us "yes", under the red line however bear will be stronger. We are still well above 38.2 Fibo measured from "ATH" so even new "ATH" is here still possible, but taking long now is much riskier than on lower levels when we look into bigger picture and parabolic growth of price.
Good expample how to accumulate in the phase of slaughter (after big pump) is XEMUSD
my accumulation points marked with green flags on this chart. See also divergences on oscillators (CCI and MACD)
orminlange
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and what was after that accumulation phase?
retrace from ATH @ around 30cents was fast and deep to 60% and bounce was in my set of rules (even more than 50%, i took around 22cents yep so much belowe ATH but profit is profit), so profit taking was easy as i pie (of course in case of XEM i took profit for 50% of my longterm position, because i like this coin and concept behind it), and retaking some part for 12/13 cents after some divergences was easy too.
orminlange
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It's "rinse and repeat patter", and where was profit taking for that entry around 12cents? Of course around 25cents (around 50% bounce from dip made much belowe another one ATH 35cents made by XEM little later)
orminlange
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in case of XEM i will take only 50% of position as mentioned. This coin has good future, but i dont say You to accumulate now. Maybe this rocket start, maybe deeper retrace will come who knows, and will be promotion for 10cents?:)
matey
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BTC is a fraudulent manipulated market, begging for regulation and protection from pump and dumpers. I watched over 5 hrs as the price was boosted by $500 with .50 cent orders over a 3 hr period,
orminlange
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@matey, that's the reason when i use " " when i describe it as a investment. But all in this world is manipulated. Stocks prices are manipulated in the same manner. The only rule is to buy cheap and sell when manipulation will occur, like now in case of Bitcoin and altoins too.
mail2khalsa
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What target do you consider after 6months to 1year for BTC/BCH/ETH, XRP? What should be the nice buy point?
orminlange
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@mail2khalsa, i dont even dare to predict. I tried in the past but now i dont seek "the tops". When i have some money "invested" in coin i look for one thing - if this coin will make retrace from ATH deeper than 40% i close significant part of this investition (50-60-80%) after bounces (minimum 50% bounce measured from dip to ATH) from that level.
orminlange
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and when someone ask when to invest. When You see 60% or more retrace from ATH, than you beging to seek entry points in that trading instrument. I'am not touching even coins growing parabolically. Investment should be made after slaughter on market not in so called "trend". Playing in trend is pure gambling for me, and i'am not gamble:)
mail2khalsa
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Which platform is best for buying/selling with with Fiat currency and secure enough? I had registered for poloniex but it's for crypto-crypto (interface looks complex too). I would prefer simple yet secure platform. Please suggest.
my accumulation points marked with green flags on this chart. See also divergences on oscillators (CCI and MACD)