CURRENT STRATEGY
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This has been a hard decision, whether to continue to wait or buy in. We got within 129 dollars of the 7800 target. Although we didn't bounce hard around 7920 I've been buying in.
Below I will explain my rationale why I'm buying even though we are not yet at the 7800 target:
I bought a big portion at 7960. With that I mean across the board Ripple, Cardano, Stellar, Bitcoin Cash, VEN, among others. There's a good chance that we'll still come down to 7800-7700 or slightly lower. But there's also a chance that we will take off from here. If we take off from here, I don't want to be chasing it around with FOMO like I've done in the past.
Just like we never got to double bottom of 6000 and everyone missed out on that huge run up from 6500 to 7800 a few weeks ago. Too many times I am trying to catch the absolute bottom with technical analysis and sometimes I come slightly above. From now on, I rather catch the 'meat in between' and be happy with that.
WITH THAT SAID - I am still leaving some money in cash to buy the dip if it comes. If it does not, I will buy on strength. I'm still putting a stop around 7500. Keep in mind, it doesn't matter so much about the price for the stop, it matters more how we get there. If we continue to dip fast below 7700 I will keep that stop there, but if we get to 7600 and stay there for a week and build support, I might lower my stop loss some. Either way, it's a GOOD risk to reward even if we break down from 7963 to 7500. When we can go from 7900 to 9800 -> 11800 -> 13400.
We'll see what happens over night. I'm expecting some consolidation time before the big run up at this point so I"m gonna go back to watch Star Wars, work out and try to quit starring at the price now.
If you have a similar play and agree with this chart: May the force be with us :)