People, four months ago, this was exactly the game plan!! and some of you are letting it go by, or making a loss!
What was the gameplan? I missed it. buy on the dip to cerca 500. this playing out as a wedge, just like five other bubbles have done, with uncanny resemblance. This is not like the other rallies at all:  |
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damn that was crazy. half of my standing short orders got hit. i was down at one point and thought the bulls had gotten one by me but now im up 4%.
I'm curious as to where you are going to close those shorts on the way down. This is what some people don't understand. Bears actually help to prevent crashes when they take their profits and close short positions. It's bulls with leverage getting margin calls that really make it tank. I already chickened out and closed at 490 to take the 4% profit that was on the table  . I will reopen new ones based on 15m, 1h, and 4h charts. |
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damn that was crazy. half of my standing short orders got hit. i was down at one point and thought the bulls had gotten one by me but now im up 4%.
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What's with the muppets on wisdom?
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My projection:  |
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There is a trendline you can draw on the logarithmic chart based on an average of all prices, in which the price is increasing at a rate of approximately 10x per year. This clearly means that you can extend this line into the future and that bitcoin will continue to appreciate at an average of 10x per year. That means that prices will likely be at $5,000 in one year, $50,000 in two years, $500,000 in three years, $5,000,000 in four years, and $50,000,000 in five years, etc. Prices will continue to go up like this forever and ever. This is the logic of bitcoin bulls and it is undeniable. How could you not buy?
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People who sold at the bottom, when will you learn. Bears who sold at $450ish when will you buy back ?
I think we just saw all those bears get squeezed just now. |
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In this case, to go long I reccomend using at least the 1 day MACD and to use leverage, I reccommend using at least 3 day MACD. Otherwise, the only trading you should be doing is shorting, while using the smaller indicators for entries and exits. I have gotten burnt too many times now using the 4 hour MACD to enter a long and then it whipsaws.
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Be careful not to post any train pics.
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Huobi and bitfinex and leading. There is a short squeeze in bitfinex from everyone who was shorting when 465 was broken expecting a huge drop. There is more volume on bitfinex in that spike than on bitstamp, which means all of it could be coming from bitfinex.
the squeeze was on stamp and BFX, but china put the pressure on, its been nudging up consistently all day. can one short on huobi? dont think so. Yeah I guess exchanges are still following Huobi like a zombie. As long as China is still leading I am bearish because China is doomed to fail and what happens then? |
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Huobi and bitfinex and leading. There is a short squeeze in bitfinex from everyone who was shorting when 465 was broken expecting a huge drop. There is more volume on bitfinex in that spike than on bitstamp, which means all of it could be coming from bitfinex.
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Buys like this mean someone knows something...
1000 coin buys are nothing. We used to see 5000-10,000 coin buys all the time and it took 40,000 coin buys to reverse a trend. |
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...here we are, rallying, 466 and climbing.
this is consolidation, not a rally... you should take off those bull-colored glasses  ... not long before Huobi passes 2900. thats where it was at before the devastating news came out. would you not agree if it passes that point, the significance of the move is nullified and we are in fact rallying? EDIT; WOW 2k buy on BFX I thought it was 3600... |
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Nice little wall at 350-450 has formed. This might give us another 1-4 weeks before 400 is broken, and maybe even a bulltrap to 550 or so where the next shorting opportunity will be.
I think that those orders are from new market meat. Like a friend of mine who called me a fool at 100, and yet he is now patiently waiting for his chance to become my greater fool. Their logic is quite simple: "it looks like it's going to go up but it is crashing now. 1000 is too much, 300 is right, let me put a bid at 350-450." I think there are many of them this time. This month we'll see them fighting with the butthurt fools who want out of bitcoin. Yeah... I see those kind of people saying $1000 is too much and then they want lower... then it goes lower and then they want lower.. and then it goes lower and they say, "shit, I cannot buy when prices are this low, b/c it may go down lower" They say, let me think about it... then they buy when it is going up and then they sell when it goes back down.. and blame you for getting them into it. One of the biggest mistakes made by new traders is not incorporating TIME into their calculations. |
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If things keep changing, TERA, then things could change again and make you bullish.
Correct. |
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The Chinese do have a large impact on the price, however I think the U.S. is more important because most bitcoin innovation and commerce is coming out of the U.S. If the U.S. we're to ban bitcoin, but not China, it is likely the Chinese would sell too, and prices would be below 100.
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Nice little wall at 350-450 has formed. This might give us another 1-4 weeks before 400 is broken, and maybe even a bulltrap to 550 or so where the next shorting opportunity will be.
Didn't you say you would stop posting once you got your cheap coins. Wasn't that around 600 or so? Considering how low we are i'm pretty sure you got all the cheap coins you could afford already. Right? That was a long long time ago with a different chart and different TA. These coins were cheap 2 months ago, but they are no longer cheap because more time has passed, the long term indicators on the chart have changed, and the volume is dwindling. We are clearly in a different pattern than the previous cycles. The 1 week EMAs are about to cross down. I would have been all over these coins 2 months ago but not now. Ooooh right. I didn't see that coming. Basically you will be crying about bull traps and how we will go down because you want cheaper coins till the end of times. Well, in that case, time to put you on ignore. Buh bye. The thing is, there is not a such thing as a 'cheap coin'. 'Cheap coin' is a cult term. Coin cheapness is only something that's relative to the past, and relative to a potential future. If price suddenly drops 50% from what it was yesterday, then yes it's a cheap coin because you'll probably get a huge bounce out of it and make a great trade. And, if you think that according to TA this is the last chance to get a certain price before a huge rally in the near future, then that is a cheap coin also. However, this projection changes with time based on TA and world events. Here was the situation 2 months ago: 1. Price had suddenly dropped from 800 to 400, with high volume. 2. The chart resembled very closely the conditions in 2013 before the reversal. Both conditions of coin cheapness were fulfilled. There was both recent high prices and a probably rally in the future. I expected a great bounce/trade with a likely rally play. Therefore, coins were 'cheap' and a bought in. However, I later had to sell when technical indicators reversed and a rally clearly wasn't happening. Now here are the conditions today: 1. Price has diwndled down from 700 to 460 on LOW volume. 2. The chart no longer resembles conditions from previous cycles, and the 1 week emas are about to cross down. I am no longer expecting a rally any time in the near future, and possibly even a further decline. Neither condition of coin cheapness is fulfilled. Therefore, coins are no longer 'cheap'. You have to realize that things change. time changes things. TA changes. News changes. The only constant in the universe in change. nothing is set in stone. Almost everything I say is based on my stance as a trader based on the current TA and the current news. 2 months ago I honestly thought there could be another rally soon and today I honestly think there is not. If there was another rally, right now we should be at 800 and not 460. I wrote a whole other thread all about how I don't talk my book. Please read it. Right now my biggest concern is the 1 week ema and the low volume. The price just keeps going down and down without any volume. Without any volume, the trend cannot reverse. It takes high volume to cause a reversal. |
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What parameters are you using for EMA? 1 week EMA has crossed down 4-5 weeks ago on my Wisdom.
Default wisdom parameters: 7/30. The bottom ema was first breached 6 weeks ago but it did not cross down and still hasn't. |
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Nice little wall at 350-450 has formed. This might give us another 1-4 weeks before 400 is broken, and maybe even a bulltrap to 550 or so where the next shorting opportunity will be.
Didn't you say you would stop posting once you got your cheap coins. Wasn't that around 600 or so? Considering how low we are i'm pretty sure you got all the cheap coins you could afford already. Right? That was a long long time ago with a different chart and different TA. These coins were cheap 2 months ago, but they are no longer cheap because more time has passed, the long term indicators on the chart have changed, and the volume is dwindling. We are clearly in a different pattern than the previous cycles. The 1 week EMAs are about to cross down. I would have been all over these coins 2 months ago but not now. |
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I thought it was high frequency trading.
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