Fight the Capitulator's Urge

Folks- While I cannot confirm this is it, we are starting to see signs of capitulation in the market. Really this is just a natural follow on to the 'waterfall' post two days ago. We're seeing only anemic rise into resistance and extension to the downside. I keep saying 'relief rally expected' and the market says sorry not this time. You have two choices. If you are in financial stress or duress, certainly selling may be warranted. As I warned in the waterfall post, the fractal BTC sometimes bottoms can take direct to $3000 quite easily. And, if that wil stress you out, than you have to consider selling. 

But personally, I have made the most money in my trading life while buying when everyone was selling  Buying the Stockmarket bottoms 2003 and 2009, besides buying gold in 2001 were the best moves I ever made. Multifold returns inthe stockmarket are rare, but I got them buying there.  I will not be with you in selling except for the short selling I'm doing to manage my own financial pain. I will use profit from short selling to buy a larger long term position in this area if we really do slide hard. 

So, while I wouldn't dream of telling you to buy or sell here. They are both options. But I do think it is important to not fill your mind with untruths, or to follow your emotions.. Capitulations do end, and they usually leave a market with so few holding, and only the strong hands, who won't sell, that it is hard for the market to not rise. Just because the market is down hard this week, doesn't mean it is logically down hard next week or the week after. If you want to step away and come back later that is reasonable. But make sure your acting on necessity not fear. 

Ryan Wilday hosts the Cryptocurrency Trading service on ElliottWaveTrader.net.