Decisions — BTC Trading Bot Update March 16th 2024

Is this correction over, or is it only beginning?

C.W.Morton

Mar 16, 2024

Is this correction over, or is it only beginning?

Source : FlexClip Generated Image. Prompt : Round the Mountain 75k BTC

We were getting sooooo close to $75,000, and my prediction was that this bull run would smack into $80k or $100k. (Not just me, I base that on reading articles and watching various coin news sites like CoinBureau)

Hard to tell if its over yet — but — ALTs are pumping down.

Ever notice how when a bull run puts on the breaks for a backslide, the first thing that happens is that altcoins start dumping little by little?

It’s as if someone is letting the pressure out of a tank with a little squeezable hand pump.

I’ve come to read that as an early signal of the support columns for price level weakening.

Source : FlexClip Generated Image. Prompt : pumping the Litecoin

I am in drawdown and was hoping to wait it out but it looks like a market correction may be underway, so I am primed to stop my bot soon.

Even though I know that eventually the trend will go up again, I don’t want to leave my bot out of action, too much potential profit to be missed if we correct back to 60k or lower and stick around for a while.

As I write this, we are sitting at $67000, and wavering.

I don’t like to stop my bot in heavy drawdown especially when I have $230 captured and waiting, but I am now under that threshold.

I am watching today like a hawk, and primed to stop in the red if we do not trend up back to 70k again by the end of the day.

I will be -$300 or so, but that is ok, because I will still be at $1400 or so for the month, which would leave $1100 net so far on this bot.

We still have a couple weeks left, so hitting my average of $1500-$2000 per month profit is still within reach.

My holding balance that is competing with the bot to see which does better in the Bot vs HODL showdown…. If we never make it to 80k or 100k, there will be no sell executed, and I will just be holding for next time. The race would be over there.

Let’s hope this proves to be a small valley on the way to a new summit.

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