You are viewing a single comment's thread from:
RE: 2/10/2018 The Market View and Trading Outlook
It seems that you were right here and BTC did break through to $8800. I do think we are going to see it above $10000 in the coming weeks, but there is always a chance the price would be suppressed by bad news that could scare some investors into selling.
At this moment I tend to agree with you. I'm not a long range forecaster as I trade in frames, but as far as today goes.. I'm seeing support from $8368 down to $8200.. those will be hard floors to break.. that said, in looking perhaps a bit longer range, I expect a bit of sideways trading..
If you trade daily isn't sideways trading the best scenario for you as things are stable and you can trade the natural fluctuations? Or is it too hard? I've never really went into this type of stuff, so there are things I might not understand here. That's why I'm interested in the longterm trends, they seem to be easier to grasp and work with for me and my limited trending experience. In the end, steem always seems like the best thing for me and I've only traded recently because I needed to fiat out a bit.
Sideways can be quite difficult as there is not clearly defined trend in many instances and reversals can happen in an instant in the crypto world.. With stops you can do o.k. trading sideways depending upon the size of the predictable range.. Right now, at this moment.. I'm not trading today.. Some of the trends are up, some are down, and the risk of reversal is to high in BTC at the moment.. I'll wait it out.. I do have some limit buys at 8175.. but other than that I'm basically in cash at the moment..