The fork fizzled about a week early .. I was hoping it would. Bitcoin did go above the 2017 long term trading channel, just by a bit - which is fine as price was going mental when news of the cancellation came out and the lines are just estimates anyway. Have re-projected my downward trend from yesterday, down to my estimated 40% drop.
Ended up selling about 10% at an average price point of around $7050, not great .. but I was sticking to my plan and have kept some in reserve in case it rockets up/over 8k. Next time I will be more patient and make the amounts less linear, i.e. rising amounts higher up into the sell zone
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Well, it's dipping very quickly! Looking at the previous 2 dips, this looks to be about the right rate for the initial dump though.
Yeah man, you sound like your making very mature trading decisions, I beat myself up a bit to sometimes, its alright, this is how we learn. I hope your analysis is spot on.
darobsta
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@ruraldisturbance, thanks .. I hope it's at least in the right area.
nah, not yet. B2x fork cancel is actually a very good thing for bitcoin... Do not forget that we broke the lineair resistance line of the previous all time highs currently at around 6300$ ther will be massive, MASSIVE buy support at that level. The only thing that can cause bitcoin to "crash" into the 5k area is some extreme FUD. As long as no new FUD comes along, my buy orders are spread from 6300-6900.
darobsta
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@matteok, the fork is cancelled. I will certainly be watching the 6300 level very carefully, thanks.