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Here comes another shot at buying low. might go far. I just hope his isnt goint to turn into a break down of the wedge.
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Huobi is clawing onto those buy walls like a distressed cat being forced to take a bath.
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If you use the logic that buying should result in additional buying, then you create an infinite snowball of buying that goes on forever. Obviously this is not logical.
although margin calls are both finite and logical. |
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well I think it was all panic buying..... this came after a large sell order. If the market can absorb a large sell order easy then the path of least resistance is probably up, and up it goes.
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hdbuck, EW is the study of how large forces naturally behave in a liquid market. it doesnt work on it's own, it needs fundamental drive and sentiment to be accurate, so this is not some kind of superficial witch craft. it works bloody well.
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just crossed on the 6 hr moving average.
I don't really know what that means. It crossed the 4hr MA earlier and the 12h MA will be crossed maybe in 2-3 days. So? all averages give an edge, the bigger ones give a bigger edge. why not use a 6.37 hour average? because there is not one available to us. |
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so three wave up from 400 lows, three weak waves down from 700........ the next three (third(!) wave) could take us up to 800 easily from an EW perspective. Sounds steep but it has the room to swing for sure!
......and hey, if it does well tonight it will break the almighty wedge! reason enough for 800!
So i'm guessing you've bought back in fully based on your recent posts. I bought back at 562 on leverage, though I have never sold more than half of my position. |
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so three wave up from 400 lows, three weak waves down from 700........ the next three (third(!) wave) could take us up to 800 easily from an EW perspective. Sounds steep but it has the room to swing for sure!
......and hey, if it does well tonight it will break the almighty wedge! reason enough for 800!
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wow big money swinging on BFX. Ill step aside from moving the market now  and there she goes! BFX broke resistance @590! into orbit! |
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ya know what, I reckon the money is on LTCUSD tonight, but never mind, BFX liquidity SUCKS on LTC.
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LOL I love manipulating the price on BFX. I only need to buy .01 BTC and the price goes up from 575 to 579. looks strong at 579 doesnt it! whales must be pumping!  |
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a large order came up on BFX, but it disappeared just before prices jumped. wonder where it went?? lol
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huobi showing great signs of continuation upwards.
the three wave rally has terminated on high volume, the downward pressure has been exhausted.
we will likely now test 3580, and if we break through, things may get hot.
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And here I thought you were just some silly dude who tried to ban twitter by blocking DNS, but I really like the way you put that. I will now steal it for my signature. Thanks Erdogan  Actually, "Virtual currency" is pretty correct for Bitcoin. There are no bitcoins, only the transfer of bitcoins. How can you transfer something that does not exist? Makes no sense. Well bitcoins dont exist..... essentially one doesnt receive or send bitcoins, one just changes their identity in the block chain. but we just use the term transfer because that's what it's like. |
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Most people who trade bitcoin have profits, not losses.
Hm, how do you know that? Every dollar that one client withdraws from an exchange was deposited by some other client. If one client has profit (withdraws more USD than he deposited), some other client will eventually have a loss (withdraw less than he deposited). So the sum of all profits and losses is zero; actually a bit negative because of fees. Are you counting profit in BTC, or discounting BTC holdings as investments? That makes things more complicated, but in the end trading does not create dollars nor BTCs, so if one wins, someone else must lose, no? That still doesn't say how many traders make a profit or loss; it could be that only a few smart traders make huge profits and everybody else loses, or vice-versa. you could say that bitcoin traders have net profit, and that dollar traders have net loss. |
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I see a three waves down terminated on high volume =D
I think we go up from here the consolidation is over for the day. p
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it would probably take pretty poor money management skills to make that much money actually.
lol nice. I'm going to save this quote. It's a classic. I'm glad I'm not a banker or something. lol it's nothing personal, I said probably. I would never keep more than 20% of my bitcoins at an exchange, I cant make 400x returns like that. If I used 2.5 leverage, I would be risking a margin call most of the time. I would have lost a lot of money getting caught up in all those spikes. or made money. my point, 400x returns are not in your control. Im glad you're not my banker, because you would be risking more than 50% of my money most of the time  |
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400x profits are not unheard of nor uncommon in bitcoin land.
I know that, but there's a difference between 400X profits and outperforming the market by 400X. You can get 400X profits just by buying and holding long enough. Beating the market by 40,000% is a different thing entirely. Did TERA say he made 400xby only playing the markets? because most of us have made more than 10x just holding. If I traded the swings from 2012, with a bit of luck and leverage I would have made 400x. 10x quickly becomes 20x, 40x..... not something I would try to do myself however. it would probably take pretty poor money management skills to make that much money actually. |
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400x profits are not unheard of nor uncommon in bitcoin land.
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