Bitcoin Forum

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^ Are you charging for lessons on how to be a noob ?
This sample lesson is too good to get for free. :D

Please sell so it will go up

so much for the hodl strategy

You bought in overbought territory on the 4-hour chart. Bad timing.

Here is a chart for you:

http://i60.tinypic.com/2rxb4gi.png

The chart is for my own use so isn't labelled, but unless you like being chopped around in a trending range or just playing a gambling guessing game, you shouldn't have went long yesterday. I am also looking to go long but will do so only when either the resistance line (currently at about $475) is breached or the support line (currently at around $280) is tested and shown to have held. The support and resistance trendlines I was referring to are indicated by the green dotted arrows mapping a potential 5 Wave form. If the resistance line (indicated by green arrows) were to be breached, then I would go long and if the trade were to go well, I would have a close eye on market action around about the uppermost resistance line shown on the chart.

You might notice that there is a rising support trendline coming up from bottom left of the map. This trendline dates back to early 2013 and was tested in Oct 2013 (Silk Road seizure) and again just a few weeks ago in early April 2014. You might also notice that Bitcoin would currently have to breach $425 for this trendline to be breached. If this happens, then that would be a shorting opportunity.....but don't short. If Bitcoin retracing $15 after you bought 0.75 coins today has caused you some grief, then I would suggest that shorting with leverage isn't for you!


Edit: That chart is old. Just looked at the up to date chart and that long term rising support line looks like it is definitely going to be breached at $428. Hold on to your hat!

Your panicking after 1 FUCKING hour. This game is not for you noob. Leave the stock market alone too.

He is right to be concerned.

Long term support line on verge of being breached with 4 hour indicators all pointing down.

Fuck it im selling, rather $13 per bitcoin loss than anything above $13. OP should sell too

I wouldn't go short at the moment either Mat!

Neither would I...

Bitcoin would have to go below $428 and then fail to get back up above the trendline.

If Bitcoin does that, then its a 'short'.

The funny thing about Bitcoin is that it does require a bit of patience to make some profits, but compared to most investments it really requires very little!  Just hold for a year or so and that is all it takes to do pretty well.

Unfortunately we are getting near to the end of a consolidation period so now is the most painful and hardest time to be in Bitcoin.  The Summer will most likely be much more enjoyable, and less painful for those that have a hard time waiting longer than a few minutes for some good gains. ;)

There is no way to know which way the price will go, charts or no.  Own bitcoin if you want to own it.  I'm sorry you seem to have bad luck trading it.

Ahh..grasshopper ..When u can take the pebble from my hand you will have a fucking clue

Now...NO CLUE or CLUELESS or NO FUCKING IDEA or NFI

It's like we've been in an eyewall replacement cycle for the last 6 months
little skill in predicting short term intensity during this phase
-bobbutts

BitChick classing up the place, showing how it's done.  ;D  Can you pls then teach these immature 'boys' on this forum how to hold their wad for more than 5 friggin' minutes?  Lol.  

I'm so glad I'm not part of this stupid "GenY-ADHD-things-aren't-happening-fast-enough-something-gotta-be-happening-every-second-or-life-sucks-oh-snap-something-big-going-down-on-Twitter" generation.  #millenialsaredoomed

Look, the dude made a mistake and took a position in the midst of low volume trending position. Nobody can provide him with any guarantees that Bitcoin will break up, or break down. So he has taken the safe option and pulled his Geld out.

Only a complete fkn prick would encourage a newcomer to Bitcoin to go long on primary downtrend, right in the middle of a choppy low volume no-mans land, and you are surely not a complete fkn prick are you?

Bitcoin actually goes up most of the time. That's how it got from $0.001 to $450.

Right now we're in a downtrend, which is why it tends downwards now. Some people can make money from fighting the market, but it takes some trading skill to do that. Going with the market is a far safer bet, though you don't want to be caught holding the bag in a bubble.

I had a professor in college, and this was over a decade ago, mention that he had to change the way he even taught because students could no longer stay focused for an hour long class.  He had to break it up with stories and other creative teaching tactics.  He was a great teacher and I enjoyed his style, but it was interesting that he noticed a change. Also, most students have difficulty even reading entire books anymore.  So I agree that the younger generation struggles with patience and are generally a bit more ADHD.  This desire for instant gratification should help help spur Bitcoin's longterm success though.  It makes sending money internationally more "instant" for example. ;)

Had 2 teachers who occasional told a few jokes here and there (to break the tension).  People in general want things to happen fast.  When my dad bought some facebook stock ATH (:D) he expected a meteoric rise.  Now he wants to do Alibaba.  Eventually I think everyone will just wait (@btc stock)  I see all the kids on their mobiles and thinking that mobile cash has to be the next step (even if its not btc like m-pesa (african mobile money) or something.)

[By the way, is anyone into alibaba stock?  The financial shows pump it up (mainly because its new in America (to buy the stock) etc]

They just filed for an IPO.  The actual date is a couple months out, I would think.

Try finding a pattern in all of your failed trades, and not repeating it. High volume is generally a good time to take a position.

If he couldn't afford to lose his geld, then his geld shouldn't have been "in" in the first place.

I suppose only "complete fkn prick" would be dollar cost averaging during a downtrend.  ::)

When you stop looking at bitcoin as a get rich quick super volatile trading all or nothing gamble every transaction, and start looking at it as a long term investment that makes up part of your overall investment strategy, you come up with entirely different ideas about what is a good idea and what is a bad idea.

Step back. You're holding the chart too close.

I have the same effect on gold.

The problem is you are just trying to use bitcoin to increase your holdings of an inferior currency. Once you have bitcoin you have money. Your done.

BTC was not conceived of as an investment. The idea was to get it, then spend it on the internet. Of course you can do whatever you want with bitcoin. Unlike dollars these are yours alone. But speculation will lead to more boom & bust cycles. Use as a currency is what leads to real growth. It is a true free market; Which means it is brutal, uncaring, and fair.

That is all very well for those who put a small fraction of their wealth into Bitcoin when it was in single or low double digits. But for anyone coming to Bitcoin now with a level of capital that is meaningful to them, it is tantamount to Assault and Robbery.

I am not holding the chart up too close. I am looking at from a very long distance. I see a massive bull trend from $10 to $1200 and a correction that has still not played out. Going by textbook Fib ratios for Wave 4 corrections, we could expect to see a 76% correction for such a move before the weaker primary Wave 5 commences. If that is to play out, then we could see Bitcoin down in low $300 and perhaps take a dip into the upper $200s.

There is a significant long term support trendline hovering around $425 which if breached, would suggest that what I describe above will turn out to be the case. If it isn't breached, then there is another resistance trendline hovering around $470, which if taken out, would suggest that perhaps wave A, of the primary Wave 4 down cycle is complete, and we could then get a good bit of upside. Or it might mean that Wave 4 has completed altogether, which means we might get enough upside to approach and perhaps breach the ATH over the duration of time.

But right now, we are in no-mans land. Only a halfwit or a cunt would recommend that n00b take a position here.

This thread made my day  ;D

I would give one of my kidneys to be able go back in time to June 2011, and dollar cost average my entire life savings from $30 all the way back down to $2.  And then HOLD all my 1000's of coins all the way to today.  Of course I would have been laughed at by family and friends, and the troll day traders in 2011 would have told me I was a complete fkn idiot.  I would of course kept on buying more coins even at the lowest points because I am stupid, all to the laughter of the bears, naysayers, and trolls.  All would have had pity on me in 2011.  Children would have pointed, laughed and spit on me as I passed them in the streets.   ;)

Based on what has transpired since then, I don't think I'd be alone in my time travel fantasy.  And those that don't think it will happen again in the next 2 years should really get out of bitcoin now and go do something else.

Anyone that started buying when I called the bottom will be 10-15% underwater. I left my call on because, I want to show in the fullness of time, how little it mattered that I got the exact bottom wrong.

If it goes to zero it doesn't matter if you bought at $533 or $424 or $200. You lose. Thats why you don't overcommit.

If bitcoin moon happens, it only matters that you bought and dollar cost averaging is tried and tested way of ensuring just that.

Trying to time the market, catch the knife, wait for confirmation of a reversal? They all come with a significant non-zero chance of you ending up leaving it far far too long, and in the end getting a much higher entry point than people that bought all the way down, took in the bottom, and all the way back up to the point where you finally decide to hop back on board.

I'm looking at having around about exactly the same number of BTC I had in 2012, and being 5 figures fiat the better for it. It might not be life changing, but its certainly helped.

Sell bits on the way up, buy bits on the way down. Never go full fiat.

Just a hobbyist and small world to find you here.  I've read your posts on the weather forums for years.

Bitcoin is not a toy for day traders.  Gox is gone.  Move on to penny stocks or something.  You might as well be buying Google stock at this point.   Its not going to go anywhere major anytime soon, and the true money is going to be made in 20 years.   Not 20 days.   

-B-

For me:
When it goes up HODL.When it goes down buy more.

For you, I would suggest you do like I told my grandkids who gave me money to buy some bitcoins for them. They kept asking me how their investments are doing. I told them not to ask anymore till the end of this year.

I suggest the same for you. Go do something else and forget about Bitcoin. Check on Xmas day for your present.

On Xmas day, you may see the exact same price you see today,  ;D

Goodbye weak hands, we need to see the back of you for this to progress anyway

It's not going down really right now, just hold a ltitle longer.  Also try doing the opposite of what you "think" you should be doing.  For example if you're nervous it's going to go down, buy some.  If you think it's going to the moon (see when it was $1000) then sell some.

Wow.  Guess the 20-50% drops in a day are going to make things interesting for you then.

Given that there are about 3600 new coins mined every day, you're probably correct. A lot of new money has to come into btc everyday just so the price can stay the same.

It will go up, maybe by year end or early next year.

Expecting a slow few months now with the occasional biggish movement in either direction which will make everybody start posting images and memes.

+1 :D

Maybe next year then...

It'll go up the moment you sell.

pls sell

So you sell more pls  ;D

https://www.youtube.com/watch?v=lDUUTv0Sd0w#t=93
 :-*

Please keep selling more, you are like our lucky charm.  It's obvious that the universe doesn't want you involved in bitcoin.

yup, he's gotta sell all of it. Then we can begin the next rally.

we're all counting on you turtlehurricane

Quite fancy that Elizabeth Ploshay

+ I loled

Yes Please liquidate all crypto as i would liek the bubble to start NOW  :D