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.

Bull is so desperate that he switches to 5min candles

“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.”

Bear wants to build a short position in the current range, aiming for another 2x drop

“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.”