I'll wait for a higher high and higher low.
This is tricky. My own personal rule for day trading is to buy lows and sell highs. Once a higher low and higher high is established, that is the worst time to buy. Case in point, look at the BTC chart below. The second example shows exactly what you describe. The worst thing is the stop has to be below the Lower low, and for a trade, that is far too much given how wide the channel is. If buying around 46k on that higher high, it was essentially the top.
The attitude that you'll buy at any price because you are going to hold anyway makes me wonder what is your objective in buying? Do you ever plan on selling? Or does this asset get passed on to whoever survives you? Or does the asset die with you because no one has your key?
Yes, I would sell for property at one point in my life. The reason for buying at any price is that I don't think anyone can time it. Yes, it may very well go down to 25k, but if I don't get any at 30k and it shoots up to 35k, what do I do now? I know you can say just skip the trade, don't chase, but this isn't a trade for me. I really think it will be a long term hold. If its a crypto winter and I have to watch it drop to 10k and sit there, so be it. I will just accumulate more. And if BTC dies a horrible death, then I think our only chance to save the system has failed, and we have much bigger problems in the world.
One of the key things for me is hashrate. I have watched so many videos on so many passionate people in this space. If the hashrate is consistently strong, it means bitcoin isn't going anywhere. If something better comes along in a few years, then I'm more than willing to re-evaluate. But nothing is like bitcoin, this is what most of the jackasses here don't understand. You simply cannot compare it to any other coin. When you do an honest deep dive on learning about fiat money and gold, and accept the benefits and drawbacks, you learn how well bitcoin fixes all the shortcomings.
Quick example. Lets say your country comes out with a CBDC. The first question is, who will issue it, meaning how does it come into existence? If the country can just print it, its already lost to bitcoin because with bitcoin, you need to put in real work in order to mine it. If there isn't a strict schedule of supply written into the code, then once again, its already lost out on another important variable with reference to bitcoin. If transactions can be changed by central authorities, well, who wants to deal with that shit? Will you really put wealth behind something the government can control? There is simply no competing coin that can be introduced that would come anywhere close to being as special as bitcoin.
The world is so lacking trust right now from our own governments and the media. The legal system is a total mess, and nobody even has any faith in the supreme court I bet given how the judges are appointed. Everything in the world is a total farce right now. But with bitcoin, you can have utmost trust in one of the most important aspects of life. The government wants to steal from you through inflation, to devalue your hard work. This has been a problem for so long actually, but there really was no good way to work outside of the system. When you fully understand bitcoin and the network, you see how this is the first true opportunity to get us to the other side.
