Bitcoin Forum

and this is why:

https://www.tradingview.com/x/FfBuNe72/

https://www.tradingview.com/x/mMHXgyHf/

Brace yourselves to take your short positions now!

Edit: https://www.tradingview.com/x/OL2g9hO2/

I decided to go short earlier but it changed and now strongly decided to go long.

Are you really understand the chart you shown?

Well much better if you put some analyzation to discuss.

My advice to you would be to get the fuck out of that long dude......

Wait for retrace back up towards $370 (if it comes), and hunt market structure for shorts.


*this is just my 'advice'...ultimately you have to make your own decisions to the best of your knowledge.

Thanks but no worries even if I go long I set my price low at <355. Im on profit now anyways but decided to make more lol. Alarms are ready now. My bot says go short too but this time I wont listen to them lol.

Thanks for this, but I'll take my chances for now.

Even if it goes back down I'll still hold on to my coins.

Yes definitely thats why I decided to go long.

@OP
Checking the 3 days volume might help. Didn't you noticed that massive buy @ 350 although it's not the best time to buy or should I say there are speculation of sudden price decrease but still many bought at that rate that cause the 24 hours pump. I suggest using BBAND as your indicator.

OP is probably right....  There is a massive shake out coming.

This is why I don't care about the short-term price movements! Thread some this, analysis like this, all of this is here just to blow your mind.

Get some coins guys, stick them into a cold storage and forget about them. You will save yourself a lot of nerves, trust me!

You will get fucked up less when you realize TA doesn't work with Bitcoin.

It's always good to read a right answer to a silly statement made by OP. I also don't care about the short-term price movements because I do care about my nerves

Bring it. Hodlers not affected.

if you could scalp that way, go short.

I'm not trading myself but I hold my coin for the rest of the days

Doesn't really look like a H&S to me but I agree, if we do go below $350 again, we're probably headin lower.

Indeed, I'm not really losing anything if this were to be true

I really don't mind the price dropping

We are not fucked we are happy that it can go down so t hat I can buy more bitcoins.

Maybe is going down now, but  I just bet later in the future it will increase.

Great news! I'll get some fiat ready :).

Should've left my short open!

https://media.giphy.com/media/qr7dWYeTpZAWs/giphy.gif

Mat, I thought you're not touching your coins till the halving?

Efit: I hope you don't orchestrate your post with all these sudden doom trolls. :)

330-340 is possible but I dont see a reason to go down lower, workshop will be at the weekend and we will see some solutions how bitcoin can scale, with a testnet and testdata of different approaches.

Only with bad news we can go down lower, its more likely we go down a bit during the weekend and then go up for another try to break though 2500cny resistance.

Proper fucked?

 :D

Shut up Mat the Cat

Ups-Down AND hIGHS-LOWS ARE PART OF LIFE , ACCEPT IT , BTC is no exception.
Even it goes below 100$ i will still hold it , i might think when it will go far below 50$ , i mean then i will buy much more :D

He is clearly talking to the day traders..... I don't know why you're all freaking out.

If it goes below $100 briefly, then I will hold it and buy some. If it stays below $100 for a few weeks, I will sell all my coin as bitcoin could die.

Not doom trolling...calling it how I see it.

Long term, I am bullish on Bitcoin, but resolute support is a long way down from here. Fuck bag holding through that.

As a trader, I'm a big believer in the usefulness of TA to identify short term trends and patterns in Bitcoin Price.  However, I am also a big believer that TA is pretty useless in identifying mid-long term trends in price.  The mid-long term price is influenced far too much by the fundamentals, namely news and whatever else is happening in the world involving bitcoin, to be able to make predictions like this.  You can have all the bearish pendants, heads and shoulders, and cups/handles that your heart desires and one little news article could send the price skyrocketing.   

Fuck your shitty TA, you noob.  Good traders would never claim anyone is fucked as if they know what the market is going to do.   The market can change direction at any moment....and probably will go sideways for a while.

Yes. That is correct. Bitcoin will go sideyways for a while, and then probably up. Now is a buying opportunity. Infact, now is time to go 20x leveraged long on OKCoin Futures.

fuck ya

the halfing
scaling conference
Xmas

time's up!

then why'd you start a thread saying short?

ahh why do i even bother

Halving is over 7 months away my friend. If 'everyone knows' that BTC is going up to at least the $700s in the run up to the halving, why the fuck did everyone dump their coins at $500. A good price compared to $700 odd.

$330 is also a better price than $360. And $280 is a better price still than $330, wouldn't you agree?

All the smart money already bought into Bitcoin ya think? If not, where do you think they will be buying?

But seriously, it is good to still see plenty bullish sentiment around....afterall, I need someone to buy all those BTC standing in between me and my preferred Short RLZ.

http://www.coindesk.com/goldman-sachs-report/

Sir, your TA is shit.

Indeed:

https://www.tradingview.com/x/Uj9wg3qF/

If you sell planning to buy in cheaper but then market goes up instead, then you are fucked another way. No pattern is guaranteed. And for me the overarching trend is bullish, safest play is hodl at least until after the halving mania next year. If you day trade you might get lucky or you might end up with a smaller stack. There is risk in betting too much on a potential head n shoulders pattern.

If Bitcoin goes up, I am cool with that. The market will still be there, more opportunities will arise.......

btw...I care far more about my balances of $, €, and £, than I do ฿.

This market is not like it once was, where you could either buy, or sell, with 1% MtGox fees each and everytime that you did so. Now there is margin, shorting, and up to 40x leverage on the likes of OKcoin. I am bullish in the longer term, but there will be no more easy paths up in Bitcoin. Sharks have entered into the lagoon. Beware!

It is quite probable that we break $350, but we shouldn't go much lower than low $300s. We are currently range-bounded around $350 that is the middle line. The last spark up was about $30 to the upper band of the channel. I would expect the similar to be tested below $350. But that is only important if you day-trade. I am not interested in the short-term price movement.

I really trying my best to understand why we are f*cked, but I can't find a single chart that is not bullish over the last year:

https://blockchain.info/charts

its a funny guess though im afraid it might be true what would mean a loss for me

Oh damn we're done again?!
Really? When?
Because today the price seems to be pretty stable!!
And even if this baby should go down...I will buy!!!!Cheap coins are always welcome ;)

I also lean towards the head and shoulders scenario, and believe it will be confirmed (or not) about 6 to 8 hours from now.
Since at that time I am usually deep asleep, I'll have to set my alarm clock to wake me up and wait for it to resolve... :(
 

All the best entries come when I am in my sleep as well....fucking Chinese cunts......For those in euro time zones, if we want to take a trade, then we basically just need to fkn gamble and keep fingers crossed that the 'Yellow Peril' don't take a different view on the market.

Agreed......... time to buy then  ;D

Thanks for the reverse indicator.

This type of TA makes 0 sense because you make the assumption that it's bearish for people to buy coins and spike the market after the initial rise, whereas if they didn't buy and let it go sideways in a straight line, your analysis would be something like, "looks like we reached the floor, time to buy!"

TA only works to predict what will happen when you average the inputs of a massive amount of market participants.  The big rises and big dumps are always done by a small amount of participants.  There is no chart on earth that would have predicted the initial rise from $319ish.  People choose to manipulate the market in times like this to force shorters to pump the market for them.  If you load up a bunch of shorts right now, the same thing will probably happen again.

hehe...

it doesn't work that way (as you probably know).

You can't just take the opposite stance of a bad trader.
Everything works some of the time.  Its mostly in
how you manage the trade.  Risk/reward etc.

Why is this? I am hoping BTC goes down to low $200's.  I would be happy.

How is that $800 net cost per BTC 'investment' doing Ibian?

Hey man, u may even get out with just a 5%-10% loss if you sell at the very peak of the ramp up to $700s!


I am not shorting, yet.

A) Shite trade entry position atm.

B) I leverage trade on Kraken, and the Euro is going apeshit at the moment resulting in similar volatility in BTC/EUR. Not touching any EUR related trade at the moment with a fucking bargepole...just had a face rip that makes crypto look stable, likely to go much higher yet...but it is what may happen in between that concerns me.

What I am not doing, is holding any Bitcoin.

Taking my troll hat off for a moment, I am 80% sure on this move...whether I catch a good short trade on it or not, remains to be seen....what I won't be caught doing is caught holding BTC...I will be buying back lower down.

I wouldn't put too much stock in OP's pronouncement, just yet. MatTheCat is, admitted by himself, a bad day-trader. He can't trade even if his life depended on it. So, no worries. Nothing to see here, move along.

Yes. Very emotional and twitchy...but working hard on that.

No emotions or twitchiness on the go at the moment though.....

....just saying how I see it.....little move up.....then CRASSSSSSSSSHHHHHHHHHHHHHHH!

LOL

No disrepect meant with my last post. I have nothing but respect for MTC, he's an old chum from the bad ole days. At least to me.

i think we're about to find out if MTC is right, i figure chances are 50/50 either way, but it FEELS like something big is about to unfold.

Up......without touching or even getting close to $385 high....then DOWN!

It will all happen when I am in my bed (as fucking usual), so I won't be in any short trade and I can't trade leverage at the moment anyhow cos of the fucking Euro going apeshit (I margin trade on Kraken).....do have buy-ins down in $330s though.

That'll do me for now.

I just remembered the last time all you guys were fucked.  Sell now before it goes to $420.

https://i.imgur.com/L1aEr1P.png

i was thinking, more along the lines of, it would go down first and then recover pause at 380 knocking on resistance, then spike to 420+. I couldn't take waiting for 333 any longer, seems less and less likely to me as time goes on, so i bought back at a small loss.

that not  2 head and sholders in a row

its headless shoulders, a bear got decapitated there, implying we will never ever ever see 320's again.  :D

Yea im going on FIAT it's dumping on fiat right now

Low 300s.....

So can you actually explain what is going on here? Because I have read some contradictory responses in this thread. Some say it is time to buy, some say we are fucked.
So how it is exactly? Should I be worried or it is just a FUD news?

At triangle convergence soon, you will either see a drop to $350-355, or another instant +$10-20 per coin.

Its official we are FUCKED!

I've been saying to get your money out of this thing for ages now. Development has pretty much stopped,  with that any chance for success went down the drain. This is it,  don't lose it all guys. This thing is coming down hard.

^By far the biggest child on the forum constantly spamming any lie possible to try and make his short position work.  Just going to post this picture any time this scumbag posts.  He shorted all year and made a little bit of money then lost everything when it went to 500, now he's back doing the same thing spamming garbage with his bought account all over again.

https://ip.bitcointalk.org/?u=http%3A%2F%2Fi.imgur.com%2FaNX0p5Y.png&t=558&c=PqOfhoAn7qogHQ

So how you doing with those short losses?

What a tard, shorting on the way up to 500 XD

Holy fuck you have been here since 2010, you have been bearish for almost more then 5 years and still in these forums, I joined 3 months ago.

You need to see a therapist holy shit. Oh god I feel so sorry for you for what you have been through, *THIS THING IS GOING TO CRASH BACK TO 0$ SELL THOSE 1 DOLLAR BITCOINS ITS JUMPING TO 5$s  TRUST ME BOISS.

Im sorry but we all have to play a role somewhere and fill in those spots that are not taken, people will lose and people will win.

I dunno man, I think technical analysis of this sort is bullshit. Sure trends and supports and channels and shit is common sense and real but like "oh look its tracing out the mother marys left tit that means it'll drop 20% by the end of the week" is just cloud watching bs.

The whales are playing games squeezing people out and then buying back more and below that noise is a steady increase in value. If you think you can whale watch and predict when they're going to dump, then go ahead.

I agree.  If you're a good technical trader, there's much better markets to trade. Bitcoin is too many big fish in a small pond and that kills your edge. 

I don't trade BTC.  I hodl.

TA is kinda bullish, but it's also useful, yes "tracing out the mother marys left tit" is bearish as fuck. doesn't necessarily mean it will drop 20% or even 5%, it just means that more often then not marys left tit formation completes with a drop. if you simply ignore marys left tit, and Buy / Sell purely on your gut feelings your not going to do as well as the other guy that knows and trades these setups.

to effectively trade you need to know the TA everyone uses.

imagine this, we appear to be panting an inverse head and shoulders, and then at what you think the bottom of the right shoulder, supersize! bullish news comes out, now you have TA saying UP and the recent news is bullish too, you can buy with more confidence... and if you act fast enough you'll buy below the neckline.

Yes, TA is essentially a psuedoscience, but what makes it sorta real is that it's a self-fulfilling pseudoscience.

Mother Mary's left tit itself doesn't cause the price to drop, but if everyone thinks that's what it means, then they will sell... and thus the price does indeed fall. See how it works? The lemmings are all predicting what the other lemmings are gonna do, so it's the ones that know how the other lemmings think that can break in the correct direction first and win.

So if you're a good trader, you don't use TA because you believe it, you use it because someone else does.

Anyway, about the main topic, yes that does look like a classic head and shoulders at the moment. Like all pseudoscience, TA doesn't always hold, but if it does in this case, the price probably will drop a little bit, likely in the low 300s. I don't even see why that's a bad thing.

So are we all FUCKED? No. OP resorted to attention-grabbing and fearmongering rather than using a reasonable, accurate title such as "I see a bearish head and shoulders pattern forming". I don't blame him; that sounds like a boring thread that not many people would've clicked on.

The support at the neckline is making me dizzy

Well, have you sold all your bitcoins yet?

I can't agree with you, doesn't matter how low bitcoin gets, I still believe that this is the future

I believe it will bounce back up

Well the bitcoin price seems to be stable still

I will take my chances as well with bitcoin

You are partially right.

Much of trading (especially shorter time frame) is trading against other traders rather than speculating on the true value of the underlying asset.

However, I wouldn't call it pseudosciene.  More like "art and science".   And there are also real reasons why TA works to identify what traders are doing and are likely to do
,not simply what they believe.  People are entering and exiting positions in the market for a million different reasons.  

you r an absolute tit, nobody believes this shit anymore, away and do one....... ;)

I'm still doubting about the direction this is going to go. Sure may look like a head and shoulders forming, but the shoulder may also start pointing upwards, completely wiping the formation.
Seems like 350 is definately strong for now, I'm leaning towards it staying above there for now.

This is about as right as gets. When theres no fundamental beliefs, traders gon' trade TA. Then when a wave of fundamentalism hits, TA gonna get washed away.

Trustorybro.

Even if the price goes down i will never sell my coins.
We don't know the fluctuate of the price or what happen next but for me i still holding it until the price reach $500.
This december if the price not reach $500 this following year should be jump to $500.
Just trust and be patience..

I was expecting the bid sum to go down, in preparation of the classic weekend dumps.
But this is not the case on Huobi and BTCChina, in fact during the last couple of hours it grew significantly.
So in case of a bullish TA development it could provide the needed fuel.

we still fucked?

The next 24 hours will be critical!   ;D

If BTC can get above $370, than that would actually be a signal to go hunting longs............but even if another drive higher comes, then after that, you guys will still all be fucked.

We will always be fucked.

Who's the bitch now!!!!! ;D ;D ;D :D :D :D

Some thought this was a head and shoulders pattern but it actually turned out to be the less well known but perfectly valid "Zeus thunder cock" pattern, an upward sloping lightening shaped shaft that rounds out toward the top of the head and finding support at the urethra. Upward trend will increase until next tuesday so long as a bigfoot's nut doesn't develop and eat away any gains.

One more good push before it goes full parabolic.

I doubt that's going to happen.  Much more likely is it will channel up for a bit.

Lulz. You are in the euphoric stage, Jonald. Good luck with those longs. ;)

euphoric?  Youre the one who said its going to go full parabolic.

oh you meant parabolic and then crash.

i dont think that's gonna happen either... i think it will go sideways as i said.

With that shelf being built we have a bit higher to climb. I don't think we will go sideways, too many weekenders. We shall see though! Weekends are 50/50 crash or sideways (vise versa).

I think there won't be a crash in BTC price this time at least for a while, BTC price is growing this time with increased adoption and publicity and under allot of funding from new investors and I doubt the selling will match or exceed the buying soon but you never know with BTC.

H&S right out the window.....

BTC ramped once again on Huobi...is their volume even real, or is it just a means of ramping BTC for dumps on USD exchanges and some rather lucrative capital flight gains?

Who knows how much further this will pop......but clearly...only a fucking idiot or Stop Hunter with access to exchange order books would be buying Bitcoin here........

....look for long setups now on correction which must surely be in the post.

Why do people keep saying this  ::)

War nur ein Scherz!

Which also turned turned out to be absolutely true!

Such predictions. Many fails. Liquidated MatTheCat shorts. Wow!

Ive been waiting patiantly for this crash so i can buy some coins, Expected anytime soon?

Not at all...

MatTheCat has only just entered his shorts......but I am no longer near term bearish.....

U guys are still all fucked.....but I now reckon we will see >$400 first........

Correction incoming!

I thought you said you wouldn't be buying in until later?




 :P

MatTheCat is the type of dude that cleverly say that the price will go up, down and sideways all at the same time without anybody realizing so that he can later say that he was right. 8)

don't wait for the price to go down. you could have bought at lower levels if you bought a few days back. now the price went over $380 and it will most likely go even higher the comming days. buy whatever amount you want, just make sure you don't end up buying at the peaks.

Don't see why you think we're all fucked because of something that you've seen on the internet.

I'd rather watch the charts and the price of the bitcoin, I don't get scared just because someone says we're fucked or that we all need to sell and get rid of our bitcoins

Current thoughts...buy-ins at $360-$370...

Charts don't take into account it's time to fvcking buy. Seriously, everyone. In a year there is a high possibility, higher than the last two years, that we will see at minimum, a doubling in price if not an all time high. I don't care about this minor fluctuations up and down. Just buy. Buy every week, buy a little every day, who cares, just buy.

thats some clear nonsence in my opinion the price should rise after a few more weeks in my opinion also the new year is coming so i believe we can expect a decent increase in price because of that lets hope my predictions are correct :D

 ;D LOL!  That made my day... thanks for the smile!

This market is a mother fucker my friend, and it will empty the pennies out of the pockets of a great deal of unsuspecting participants.

When Bitcoin gets up to the $420s, everyone will be rejoicing. $500 will soon be in the rear view mirror, right? But rule this sort of scenario happening at your own peril!

https://www.tradingview.com/x/OL2g9hO2/

But for now, China sleeps, and the rally has cooled, and Bitcoin will likely trend back down to at least the 38.2% Fib retracement, if not right back to the Long RLZ and/or trendline. Near term, a correction/ consolidation periods is likely on the cards, but followed by a break out of 'ascending triangle' formation as depcited:

https://www.tradingview.com/x/UB1dQWon/

Mind you, seeing how my last spot of TA and the H&S turned out, perhaps this is the contrariant indicator that all the bears out there were waiting on.......I am currently short, but only looking for a $15-$20 move down from top.....mid term, I am now thinking long is good until $420 area before the next period of major reckoning.

You really are some sort of special Mat.

China will be waking up to pwn your short momentarily.


3:00 PM Saturday, Central Time (CT) is
5:00 AM Sunday, Hong Kong Time (HKT)

that should go over well  ::)

Time in Beijing is 3am, if I am not mistaken. Notice, How Bitcoin stopped moving just after midnight, China Time.....for now, it is basically just bots trading the CNY exchanges......the real action will reveal itself in about 6 hours time.....just like the pump kicked off late last night (for me) at 9am, China Time.



My stop is €2 above my Trade Entry point......If that gets called, then I switch immediately to long (If I am awake and available to do so).

We are knocking right at a significant resitance point....most typically, a kind of ascending triangle would form (so a little push down from here b4 break out)......but when this resitance is breached.....a pretty bullish signal indeed.

We are not fucked yet, because I am saying that bitcoin is kinda increasing for now.

Why fucked? If the price goes low I can buy more right?

I guess we are fucked because OP went short and therefore he needs a low price to not make a loss.
Don't worry about that.That is just some mental psychologically gaming.
If price should go down just buy.Awesome opportunity!Halving is coming closer and closer!

The problem is that back in November it crashed hard from $390 to $300, so there is massive supply at this level.

If it closes above $385-390 then it will probably go all the way to $500 but there is massive resistance in this current area. Lets see if it can break $385 and close above it soon.,

i dont think so.  the last run was just follow through momentum -- miners not selling till the top was in.
If it gets to $400 it wont necessarily go to $500. the market isnt moving fast.

Next major turning point, around $420...or 61.8% of retrace from crash. I think that after a bit of a cooldown period and a correction, this 38.2% resistance zone is likely to be punched through on the next approach.

i dont think that the price will fall anytime soon it might still even rise right now and we are not fuc*ed in my opinion lets hope the price will start rising as soon as possible

From $385 to $500 there is no resistance or supply. Fibs don't apply to BTC trading.

Here's a fib for ya: BTC is dead.

Fuck Matt, you dumped again? holy shits man how many times is your ass going to be kicked this year?

Been in and out m8.....been doing much better recently...but played a fuckign stinker these past couple of days.

I think it may dump in January, but I think this month looks strong. Not based on any TA, just gut.

61.8% retrace from $500 in the $420 region m8....it will dump hard their for sure.

Well don't go all out no matter what, with China back in the game ANYTHING can happen.

I know....all of this is happening on CNY exchanges....is their volume even real?

The market movements here are fkn bananas.....maxed out mom indicators.....at the end of a move which hit and matched the previous high.....all the smart TA said correction.....Harmonic PRZs....Double Gartleys....

Ramping BTC in CNY....USD follow suits.....Dump on Stamp at inflated prices....Wealthy Chinaman makes a fast buck and moves capital out of country and into USD.

Oh boy, why did you come back Mat? Correct me if I'm wrong, but your trades in the past failed horribly didn't they?
It might be in your interest to stop wasting your money in this trading game.

MTC I thought you gave up on the day tarding? Good to see you back for our entertainment, keep on posting your sentiments please!

Big fucking Shooting Star on 4hr Huobi Candle Chart!


(and by default, the USD exchanges also who Huobi has left in rear view mirror)


Crash helmets at the ready!

Head and shoulder patterns are only 'valid' when the neckline is tested and broken. Not the case here. But thanks for giving me some money.

Matt I think you need to re-assess, bitcoin has turned bullish, sooner you realise this the more you will profit.

IN any case this thread has lost credibility when the head n shoulders pattern failed to work out

Been long term bullish for months now....still doesnät stop me losing money...

$360 BTC is in the pipelines however.

This was definitely a fail.
Turn back now if you have bulls blood.
I do see $360 coming in the next crushing wave.