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The last two bitcoin breakouts have occured on a full moon. Both times I looked up in the sky at the moon and decided to throw in the towel as a bear and buy (or place a stop order). Could the full moon have something to do with bitcoin breakouts? Are we to expect now a consolidation until another breakout on the next full moon?
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one bitcoin please  Don't you mean satoshi? |
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If the Chinese really wanted to scare us and milk as many coins as possible then why is it that they never went to the point of saying that exchanges would actually be shut down?
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One thing I'm learning with forex trading that I'm getting into now is that candlestick patterns and lines on simple plain price charts are much more effective tools than complex mathematical indicators, which are ultimately derived from the same data.
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You don't need a MACD. The first indicator was when it finally broke the $380 support and then proceeded to fall only to $340 and then immediately bounce all the way back up, never establishing a new lower trading range.
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It's bad enough that it's such a lagging indicator - you should not pre-empt it on top of that. 'I believe the lagging indicator is going to do THIS in 2 candles from now so I should act immediately' - at least wait until it actually happens and is confirmed. Do not forget all the traps that occured previously involving the 1D MACD and even once or twice with the 3D MACD where it went up but wasn't confirmed or was up for 1 candle and went back down.
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Train: check
Rocket: check
To-do:
Moon:
Bear:
You should change your name to Teara... or Terror  |
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You could possibly attribute this entire chart to the advancement of tumblers.
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Train: check
Rocket: check
To-do:
Moon:
Bear:
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Anyone got an idea how long we going to keep this angle up?
Not long. I think some shooting stars are about to form, which people have been gawking at in amazement and wishing upon. |
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ching chung ku fung piff paff wing wang i suppose soon we will all be hitting ourselves after huobi shuts down for real and btc is back down, because we neglected these obvious signs including this pathetic rally volume on stamp which is 1/4 of the volume as the volume that the various crashes earlier in the year had. just another day getting goxxed by china and we fell for it yet again. ill order the general tzo's chicken with two spring rolls and a side of crispy duck.
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Damn. I thought "the lines have crossed" was legit TA. :p
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I believe it is ridiculous to think that in 3 years bitcoin will be
-As big in market cap as the U.S. dollar.
-Fully intergrated with all merchants and all consumers
-Full integrated into wall street
-The currency of choice in the mainstream with all consumers clearly choosing bitcoin over fiat
-All employees salaries are paid in btc, all bills are paid in btc, you pay your rent and taxes in btc, etc.
This is the type of thing that the $1,000,000 mark would imply, and I think it would take a lot longer than 3 years. I think it would take it 10 years at least.
That would mean that the 'trendline' needs some serious adjustment - perhaps it is a different shape altogether than a simple exponential increase.
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I think this matter would be up to the employer, not the employee...
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It is a bad thing if people use the emotion of short term action to adjust their long term projections. The theory behind all of these long term projections are that they are calculated in such a way that they occur regardless of the current short term action.
Isn't that a good thing for you as a day trader, though? If people wouldn't react emotionally while participating in markets, you probably wouldn't have made as much money as you did. "Don't tap the glass" say the poker players. You will scare away the fish  My posting is only directed at the participants of this thread who have been posting models of 'the trendline' going to $1,000,000 such as rpetelia. It is not about the market as a whole. |
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bahahaa.. nice one oda.. TERA barely follows his/her own words... i have a feeling he/she does exactly opposite of his/her own analysis.. brief spike to 700 and 3 months of flatness at 550
Sold, to the bear in the front row. "bear": Someone who believes of a possible scenario in which the price temporarily drops 8% before recovering, instead of having an immediate 1000% rally. - bitcoiner dictionary. No room for subtleties. Pick a team and stick with it for your entire life! In trading, you only have to be right about the direction 30% of the time in order to win as long as you cut losses, let winners run, and are ready to accept defeat and reverse your position at a moments notice if you discover that the analysis is wrong. So I often make an analysis and then cancel out of it later. For example I have been long since my stop loss order was triggered at $460 but before that, I was expecting a drop. |
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Looking at the past couple bubbles, the lowest point is always higher than the previous ATH. Since current ATH is around 1200, that's the lowest it will go to next time. Which means the high must be considerably higher. 5k is my conservative estimate, but with an ever increasing amount of attention from big money there really is no telling how high it could go this time.
That's true. But markets can often be self-defeating prophecies. If "everybody knows" this is what's going to happen, chances are much higher that it won't. Just like nature abhors a vacuum, markets abhor predictability. I remember last year as we broke out of the downtrend, much of the forum was still in denial, thinking that it was a big bull trap, even at $140. Now this year everyone has bitcoin trading 'down pat' and seems to know that we're back in a bull market heading towards the next big rally - perhaps this actually means we're heading for impending doom instead. |
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agreed 800 is the short term target.
If you're referring to that little cursor dot, I didn't place that intentionally. |
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