Bitcoins/Litecoins/Virtual Currencies

Rajaah

Rajaah

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Took my 62% loss and sold SHIB, now watch it soar.

As for that money, I'm torn on ETH and SOL since both are sufficiently dipped right now to buy. MATIC is too high. BTC is...probably fine as well. I'll probably go ETH like I said. Only problem is that I think we're entering a down-cycle in general, and if it's like other cycles, eth/alts will be the last things to run and BTC will be the first thing to run. So going 100 on BTC is probably the play, as is waiting a bit longer.

To avoid previous mistakes, I probably won't try to min/max. A nice safe 50/50 BTC/ETH and check back in 2 months is probably a good bet. Either one will likely make my money back a lot quicker than SHIB. Could also go 25/25/25/25 and include MATIC/SOL. I didn't diversify enough this year and that's why I got completely fucked when I bet on a bad choice. Modest Goal for 2021 was "make more than I started with" and Modest Goal for 2022 is now "regain previous high".
 
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Rajaah

Rajaah

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I feel bad for SHIB people who are continuing to "buy the dip" over and over while it just loses more and more value.

Normally, in something like Bitcoin, you could shrug this off because you know it'll rebound bigly. However, with the way SHIB has been moving, I'm really getting the impression that whales are slow-deflating it, taking chunks of profit out as The Masses continuously "buy the dip" and put more in.

Wealth transferring from a bunch of regular people to a small group of whales, that's what I think is going on. I could be entirely wrong, but it's what it looks like. The charts don't make a lot of sense otherwise.
 
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Arden

Arden

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Very nearly bought yesterday when things had briefly leveled off, but thought, nah I'll wait and see what the larger market does Monday. Whew.
 
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Haus

Haus

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Arden said:
Very nearly bought yesterday when things had briefly leveled off, but thought, nah I'll wait and see what the larger market does Monday. Whew.
Click to expand...
I saw multiple analyst types , even ones on Twitter, saying "be calm, zoom out, and oh yeah it's gonna dip further on Monday"

I'm starting to think that the "maturation" of the market is really meaning that Crypto is going to start more and more moving with correlation to the stock market. (looking at the pummeling my stock portfolio has also taken this morning)
 
Arden

Arden

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Haus said:
I saw multiple analyst types , even ones on Twitter, saying "be calm, zoom out, and oh yeah it's gonna dip further on Monday"

I'm starting to think that the "maturation" of the market is really meaning that Crypto is going to start more and more moving with correlation to the stock market. (looking at the pummeling my stock portfolio has also taken this morning)
Click to expand...

I haven't parsed it, but I was under the impression that BTC has always been fairly influenced by stock market movements, especially negative ones. And the rest of the crypto market has always been influenced by BTC.
 
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Rajaah

Rajaah

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Well, I guess I sold at the right time. Might want to wait a while to get back in at this rate. What a huge disappointment everything is across the board. I liked when crypto moved in defiance of the stock market, not with it.
 
Haus

Haus

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Arden said:
ETH looking kind of like head and shoulders to anyone else or is it just me?
Click to expand...
What time frame?
The Optimist in me wants to think we're in the same pattern we had from late May until mid July right now (which would hopefully lead to another huge leg up). But even that would tell me we're due to recover to about $3500 then come BACK to $3000, then start the leg up.
 
Arden

Arden

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Haus said:
What time frame?
The Optimist in me wants to think we're in the same pattern we had from late May until mid July right now (which would hopefully lead to another huge leg up). But even that would tell me we're due to recover to about $3500 then come BACK to $3000, then start the leg up.
Click to expand...

Roughly July 19, 2021 to current. It's incomplete so far, just looks like it could be heading in that direction. Not a chart expert though.
 
Haus

Haus

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Arden said:
Roughly July 19, 2021 to current. It's incomplete so far, just looks like it could be heading in that direction. Not a chart expert tho
Click to expand...
I can see that. The shoulders would be a tiny bit uneven if we're at the low neck side. if we see it dip to around 2800 and then bounce up then you're right on target, and woe be unto the markets.. heh
 
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Oblio

Oblio

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All this talk about Head & Shoulders reminded me of the Christa McAuliffe jokes from when I was a kid.

How did they know Christa had dandruff? Her Head & Shoulder rolled up on shore.
 
Tmac

Tmac

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Arden said:
Roughly July 19, 2021 to current. It's incomplete so far, just looks like it could be heading in that direction. Not a chart expert though.
Click to expand...

If it is, that would suggest, what, a 1700ish strike on the other side?
 
Arden

Arden

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Tmac said:
View attachment 392429

Is this a propper head and shoulders development? Seems a little Quasimodo inspired.
Click to expand...

This is actually pretty much exactly what I was seeing. Re: Quasimodo- I'm not sure a pattern has to be completely perfect to fit the paradigm.
This is why I had my ETH buy at 2100. It wasn't set to catch the absolute bottom, but close.
 
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