The author did it several times. Trading too much. The opposite also happens: trading too little and missing this or that opportunity.
What is better?
The author believes it is more the question of how often you can do in-depth analyses of the market. Trading without clear understanding (means based on pure emotions) is a bad idea. In crypto we have it constantly. Waves of FOMO (fear of missing out) are plenty and here we are, with loosing position. Pascal Coin marks the latest example of it.. But if you can spend daily few hours of analyzing the markets and collecting the needed sentiment information, then you can also trade daily (the author did it in the summer). Now too little time is left (most of the resources are spent for santiment.net platform) so the author tends to follow the bigger waves of the “crowd sentiment”.
The author generally hopes that with the santiment.net platform the amount of “actionable” crypto market intelligence (be it analyses like the one you read, however not from only one author but from many different, or shared ideas, or anything else) will grow rapidly and it will become possible to make better decisions in a shorter time.
Ok, back to the current market situation and how author sees it.
In general (this article goes a bit deeper on it) there should be pretty strong rise in crypto in the year 2017.
If we take the present moment, then we will see the following two pictures:This shows the trend line for the crypto market in general. It holds pretty nicely for over one year now. One could expect that at some time the price “jumps” off it and this is exactly where we might see strong increase in the whole crypto market valuation.
And here is the separate chart for the so-called alt coins only:Attention: Trying to count the Elliott Waves in the altcoin market is pure experiment at the moment. The author plans to add the sentiment analyses to it as we get more data on this level in the future.
If our count is correct, expect the following to happen: spike above the shown above resistance line. It should come together with some clear wave of crowd excitement. Good news or articles in the established crypto media are expected. May be one of the projects (be it ETH, XMR, FCT or you name it) will might achieve one of the milestones.
Let’s wait and see.
As soon as this top in sentiment will become visible, expect on this pages the words of caution and “possibly time to close some longs”.
For the moment the author stays neutral, it means keeping his positions without adding to or selling part of it.
Have good time and Happy New Year if you are in China now! (the author is)