Confirmation gained: Price-cost Average Time

in steemleo •  6 days ago  (edited)

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I predicted a crash down to $7500, and the market has crashed to $7700 three times now. It looks like there could be an imminent breakout to the upside. It's time for me to stop being greedy.

I've started to cost-average buy-in.

5% a day for the next 20 days.

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At the same time I have a very aggressive stop-loss buy set. If Litecoin breaks above $60 I'm going to jump in at that level.

In the grand scheme of things it probably doesn't matter what I decide to do here.

I'm honestly expecting Litecoin to easily reach all time highs within 3-9 months. That is the sweet spot for halving events. In my view, penny pinching isn't going to matter much in the long run.

When it really comes down to it I don't even care about Litecoin, I'm just trying to get more Steem and think that Litecoin has better fundamentals in the short-term.

It's also nice to have a hedge placed in a higher market-cap network.

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Essentially what I was hoping for was an exact repeat of the previous bear market. Right at the tail-end it dips just a bit more. However, the timelines here are skewed. The Bitcoin bear market correction lasted a year while this one only lasted the summer. If we are comparing these two events, every week in the current market would have been extended out a full month during the previous one. This implies that we could have easily already smashed against a support that's never going to get broken.

Here's to me going all in on Litecoin at $60 for a 3 month swing trade.

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Well my months of saying we should hit these levels have been confirmed. It's up in the air for me now. I just don't have enough data!

Essentially what I was hoping for was an exact repeat of the previous bear market.

I believe that with the attack by regulations that it would be impossible for there to be an exact repeat. I am guessing that there will be more losers and the bulk of the action will occur with coins listed on exchanges that are compliant with the regulations, such as with the expanding Binance.US. Without liquidity (manipulation) from these exchanges I believe we will see many coins continue their overall free fall as time progresses.

I have a hard time believing any market right now with all the manipulation.. qe has restarted with a new name of "repo" and the fed is buying up everything everytime there is a dip, so how do u even rely on any market fundamentals at this point?? Everything is fake and since governments and banks hate competition they are slaughtering any and all the markets they can with manipulation, including btc..
I understabd eventually everything corrects and this ponzy schem will fall apart but at this point I dont even bother hoping it will come soon, I am just waiting for everything to collapse..

Maybe that's when cryptos will be worth something again, maybe they will be slammed to hard by then to recover, idk.. until then i guess ill just watch my investments dwindle into oblivian.. I wish I could be more optimistic but I just dont believe things will change until everything falls apart.. Thats why im stacking metals now, but im prolly wrong there too.. lol.

I was at the same position as you.. until I learned that I don't want everything to collapse.. I really hope for a smooth transition.
Hopefully faster acceptance so I can work directly for btc.. but I really need time to build myself a basis and become more autark.

I don't want to experience famines.

I dont want everything to collapse, I understand the gravity of that situation and know it will be an ugly, terrible thing.. i have been to war and in war torn regions and dont wish that upon anyone.. However the system we are in is literally enslaving mankind and will not benefit most humans if it continues on the path it is going down. I would love a smooth transition into a new monetary system and government ideal but the elites wont let that happen without extremes.. I honestly just dont think we can fix the current system without it completely falling apart or burning it to the ground.. Any debt based system will always be slavery, so i dont want it replaced with another fiat and unfortunately cryptos at their current possition just cant fullfil the monetary needs we have.. Starting over is literally our only option other than continuing this debt based slave system.. 😔

  ·  6 days ago (edited)

IMHO, stacking precious metal is the safest play in the book at the moment.
Crypto is higher risk but way higher reward.

The reason I find halving events so fundamentally valuable is exactly because of all the manipulation. In a world where central banks can print billions and no one can stop them, a halving event is essentially the exact counter to that.

I agree with that, halvings are great for cryptos, but i also feel they (central banks/governments) have invaded the crypto space with their fake money and that is the reason cryptos have continuously been getting slammed lately, because they are scared of sound money.. i mean why not buy cryptos with billions of fake money just to turn around and sell them at a loss to keep the markets supressed?? it doesnt hurt their pocket book cuz its all numbers on screens or printed cash..

As long as we have to participate in their fiat paradigm we are slaves to their ideals, regardless of the innovation we come up with.. 🥺

Watching LTC with you. I have been slowly accumulating 2 or 3 a week since last spring.

I have just been buying BTC every week. Low, high, it all averages out and its less pressure to catch the bottom.

Future will be interesting af :D

The market of filled with shit, this is no time for the holder it's either u learn how to trade of get ready to loose some money always learn to short 20%-30% when you are in profit with tight stop lose if you are afraid to take risk