DumbFalang Posted August 31, 2021 Share Posted August 31, 2021 So my email box is full of some long awaited signals this morning: MACD Bear Cross, Psychological Bear Level Reached, RSI Cross Below 46,866.99, EMA Bear Cross and a Death Cross. I'm still learning what each of those means but I'm pretty sure that all of those combined means the market is correcting. I 'Tethered out' not too long ago as I'm sure many of you did. My overall plan is to 'Dollar Cost Average' my way back in but the big question is - WHEN? 1 2 Link to comment Share on other sites More sharing options...
Popular Post The Cipher Posted August 31, 2021 Popular Post Share Posted August 31, 2021 1 hour ago, DumbFalang said: My overall plan is to 'Dollar Cost Average' my way back in but the big question is - WHEN? You might want to double check how dollar cost averaging is supposed to work. 4 3 Link to comment Share on other sites More sharing options...
jesimps Posted August 31, 2021 Share Posted August 31, 2021 4 hours ago, The Cipher said: You might want to double check how dollar cost averaging is supposed to work. I've been DCA for a while now, so I'm not bothered which way the market goes. If down, more cryptos for my weekly $100. Can't see point in selling if you're DCA. 1 Link to comment Share on other sites More sharing options...
allanos Posted August 31, 2021 Share Posted August 31, 2021 The technicals which the OP's cites don't have much relevance for crypto "investors", who tend to be long-term hodlers. The signals may or may not be of value to traders. In any case, the recent "death" cross didn't really play out if one takes a look at the daily chart of BTC. If one is dollar-cost-averaging, then there is no such thing as timing the market, it takes care of itself. Link to comment Share on other sites More sharing options...
GrandPapillon Posted August 31, 2021 Share Posted August 31, 2021 it's all a random walk, and those Technical Analysis can be useful to "predict" corrections, but since there is no fundamental or "logic" for buying cryptos, but only faith, not sure that TA can work with cryptos what is sure that all hypervelocity uptrends all tend to crash eventually ???? Link to comment Share on other sites More sharing options...
DumbFalang Posted August 31, 2021 Author Share Posted August 31, 2021 11 hours ago, The Cipher said: You might want to double check how dollar cost averaging is supposed to work. Good catch. I shouldn't really have called it dollar cost averaging as I'm not strictly doing that. 1 Link to comment Share on other sites More sharing options...
1FinickyOne Posted August 31, 2021 Share Posted August 31, 2021 13 hours ago, DumbFalang said: I'm pretty sure that all of those combined means the market is correcting. Correcting? A market for something that seems like it can be copied in a moments notice? What happens when every bank or every country wants to get in on the game... or close it down? I still don't really get what you are purchasing and why it might be there tomorrow? That said, I made a few bucks on the run up in Ethereum, then sold out... Link to comment Share on other sites More sharing options...
Nojohndoe Posted August 31, 2021 Share Posted August 31, 2021 Well my TOLU position has not altered . In the short term STDHE may evolve but I have serious doubts. So I accept that my LTTD will have no consequence due to the ULTE reality. But fun or not I'm sure will be eventually an investment BTDT. 1 Link to comment Share on other sites More sharing options...
Popular Post The Cipher Posted August 31, 2021 Popular Post Share Posted August 31, 2021 1 hour ago, DumbFalang said: Good catch. I shouldn't really have called it dollar cost averaging as I'm not strictly doing that. If you're long-term bullish on the space in general and your coins specifically, legit dollar cost averaging might not be a bad idea. Making timing calls on the direction of the market in crypto is hard, and from your post it sounds like you're uncertain about when the market will turn (which is fine. So are most of us). If a sudden downturn would wreck you, or affect your day to day lifestyle, you're probably overexposed. In that case you might want to take profit with part of your position until you'd feel comfortable just letting the rest of it ride. 1 hour ago, 1FinickyOne said: A market for something that seems like it can be copied in a moments notice? I still don't really get what you are purchasing and why it might be there tomorrow? A lot of people seem to hold the view 'I don't understand it, therefore it is valueless'. But. Lack of understanding doesn't actually equate to lack of value, it just means you don't understand the source of value. And that's ok! The space is new and it is pretty complicated. It took me hours of quality reading/discussions to begin to get my head around it. If you're interested there are a lot of resources out there that will explain a bit about what gives certain projects in the space their value (like Ethereum, for example), and why different tokens can have different value propositions. Could also help you spot those scams that actually are valueless if you do choose to participate. 2 3 Link to comment Share on other sites More sharing options...
1FinickyOne Posted August 31, 2021 Share Posted August 31, 2021 I actually was an investor/speculator for a while... but when the value fluctuates wildly one day by what one guy has to say - and then he reverses himself a week later and the market moves the other way??? That is an investment that is way too easily manipulated... for me... I am much better off in ETFs which are doing quite well for me and are much more stable. [and understandable].. index funds and mutual funds most of which I have been in for over 20 years.... if you are young, time and compounding are on your side... 1 Link to comment Share on other sites More sharing options...
DumbFalang Posted September 1, 2021 Author Share Posted September 1, 2021 12 hours ago, 1FinickyOne said: What happens when every bank or every country wants to get in on the game... or close it down? Ahhh - the great reset. I've given this a lot of thought over the last year or so and from what I see (others will see differently) the majority of crypto projects will disappear when the SHTF. Projects 'of value' that are able to make it out the other side may prosper and that's what keeps me interested. Link to comment Share on other sites More sharing options...
DumbFalang Posted September 1, 2021 Author Share Posted September 1, 2021 As far as September goes, there is a really good video on Youtube by Coin Bureau titled 'WATCH OUT For These Events!! Good, Bad & Ugly'. 1 Link to comment Share on other sites More sharing options...
Monkeyrobot Posted September 1, 2021 Share Posted September 1, 2021 2 hours ago, DumbFalang said: As far as September goes, there is a really good video on Youtube by Coin Bureau titled 'WATCH OUT For These Events!! Good, Bad & Ugly'. Good channel also bit boy crypto is also quiet good and Investment answers is a favorite on mine, as for the market all my feedback is the pump will last Sep to end Oct. hope it blasts off to the moon, I need the money. Link to comment Share on other sites More sharing options...
DumbFalang Posted September 2, 2021 Author Share Posted September 2, 2021 20 hours ago, Monkeyrobot said: Investment answers is a favorite on mine Checked it out, and guess what - he just posted a video titled 'What will Crypto Do in September?' Perhaps he is watching this thread ???? Link to comment Share on other sites More sharing options...
niksadon Posted September 4, 2021 Share Posted September 4, 2021 On 8/31/2021 at 5:57 PM, The Cipher said: If you're long-term bullish on the space in general and your coins specifically, legit dollar cost averaging might not be a bad idea. Making timing calls on the direction of the market in crypto is hard, and from your post it sounds like you're uncertain about when the market will turn (which is fine. So are most of us). If a sudden downturn would wreck you, or affect your day to day lifestyle, you're probably overexposed. In that case you might want to take profit with part of your position until you'd feel comfortable just letting the rest of it ride. A lot of people seem to hold the view 'I don't understand it, therefore it is valueless'. But. Lack of understanding doesn't actually equate to lack of value, it just means you don't understand the source of value. And that's ok! The space is new and it is pretty complicated. It took me hours of quality reading/discussions to begin to get my head around it. If you're interested there are a lot of resources out there that will explain a bit about what gives certain projects in the space their value (like Ethereum, for example), and why different tokens can have different value propositions. Could also help you spot those scams that actually are valueless if you do choose to participate. You're right to say that. But what about the fact that someone is always lucky and makes a profit from any project, even though he does not understand its essence. And some people study the case for years, but in the end the profit is small or even negative. Link to comment Share on other sites More sharing options...
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