While my Bitcoin slowly bleeds
The Market Tale (Sep 24, 2019)
“So, we’re under $10000 again. And I don’t see any FOMO on low timeframes,” said Bull with a worrying look.
“Autumn has come,” said Bear. “The time of the year when people lose hope.”
“Do you think price action really depends on season?”
“Not on season — but on emotions, which in turn are influenced by season. I’ve noticed it myself first, then searched for data: indeed, a paper shows that summer months bring consolidation that turns into a downtrend in autumn. The uptrends generally start in November-December and last till April-May.”
“Interesting. Are you using this knowledge in trading?”
“Yes — but only as confirmation, not as trigger. I don’t short an uptrend, no matter the season. But I do short with conviction during autumn — in fact, I’ve already placed my orders on highcap altcoins.”
“When shall the altcoins stop bleeding?” whispered Bull.
“Pretty soon, I believe,” answered Bear. “But meanwhile, the risk-reward ratio is good enough for my shorts. Time to make some money.”
Next episode: The Breakdown
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