Chainsaw
Hero Member
*****
Offline Offline

Activity: 625
Merit: 500


x


View Profile Personal Message (Offline)

Ignore
November 01, 2013, 06:13:55 PM

I purchased few more Bitcoins, price is about to go up, we are clearly oversold, and daily candles looks bullish, thoughts?  Wink


Agreed.  When we were 'bubbling' (rising in price at a long-term-unsustainable rate), I was slowly and incrementally phasing out my position, fully anticipating a rather violent correction.

Seeing a several-days consolidation is exactly what the market needed to reduce volatility and let the rally proceed on a longer, slower pace.

There's never certainty until we have the benefit of hindsight, but I was confident enough about the last few days of activity restoring health to the rally that I've unwound my BTC sells at a small loss, in anticipation of larger gains in the coming weeks.

I should probably go bump the Rally Song thread for good measure ;-)