I’ve just been get caught again into a huge sell order of 10000 bitcoins, sold at an average price of 13.24$ at the first bounce, 0.80$ of loss per btc, total loss 80$. I think i’m going to change my strategy for short term trading, instead of buying on the strength waiting a decent reversal, i’ll buy on the dips using my 24h range forecast i publish every day on twitter. Watch out for my range estimates on my twitter channel.
The problem is that there are out there players with more then 10 thousand bitcoins, it is not easy to operate in the short term because two or three of these players can do a real mess to the market. I think i’m not going to do another attempt if i dont have a clear strong positive indication both from the oscillator i use (on a daily basis) and the elliott wave software i use.