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"the 400 bottom is in" - sounds like a news presentation. And I made this call the day it happened.
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My original plan was to hodl but the spike was so ridiculous that I had to make a couple quick shotrs from 710 to 670 and 700 to 650. Now I am hodling again. Quick shotrs are the best ones - the ones where I can get in and out in 15 minutes without trying to guess the trend and hold fiat for an extended amount of time. For example I know I might be able able to short again and prices might even reach as low as 610 but I'm not bothering right now.
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This is kind of old news.
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What happened today is wires hit Bitstamp. It's been 5 business days since the reversal from 400 was first sighted and called, and now the wires are finally hitting. It's really that simple.
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Finally, trading is easy again. I am having a lot of fun today! Already there are enough trading opportunities to make up for someone who has completely missed the bottom. I think next time there is a bear market I will just withdraw the fiat to bank and then wire it back in once the reversal is in, and not bother with attempting to trade during the bear market.
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My calculations were messed up because of the differences of bitstamp and huobi. huobi perfectly met the 3 day ema as resistance as i had projected but bitstamp went way above its 3 day ema.
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 Haven't seen this one in a while. |
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You guys have a delusional perception of what a bear is. I told you a week ago that the reversal was in and I had gone bull. But now if I don't support the mission of going to all the way to ATH in one day, then I am being "bearish"...
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Predicting 3 day emas would serve as resistance is not being bearish...
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Just shorted my coins 710 to 670 and back in.
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My $666 resistance came into play perfectly. ($660)
That's probably all for a couple weeks now.
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I feel bad for the people who lost money on gox too. However... I don't understand why the hell they still had money on gox. Idiots! The warning signs were there for an entire year - gox was the biggest running joke in the whole community. It's kind of like how I feel bad for a chain smoker who died of cancer.
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 This could actually be a bearish formation, if taken out of context. Of course it's bearish. You still haven't your coins and probably will have to buy in with a loss. Impossible. I am 60% coins now and have more coins than I sold in December (with a large profit too). I've already turned a big profit on coins. Now I'm deciding whether it's really necessary to reinvest the other 40% of house money back into bitcoin or if I should use it to diversify into other things. |
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this could be bearish if I Tera post about it.
I don't think we're going to the moon or mars, ( in relation to your other response ) past performance doesn't really dictate how the market re-acts today.
I am pretty sure demand is what carried us from 1xx.xx to 12xx.xx, I am not saying this recent buy was all the demand taking over..it just the beginning of it filtering back in after being goxxed.
The trendline is a general model of the average rate that the demand is increasing over time. I understand the specific drivers on a short term vary and are unpredictable, good news happens, bad news happens, you get goxxed, etc. However, the average rate of change over a long period remains relatively constant due to the networking effect, how many people are aware of bitcoin, how any people have told their friends about it, and the underlying merchant adoption going on. Also, whales follow this trendline very closely. |
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This could actually be a bearish formation, if taken out of context. |
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I do not understand this mindset that people get in when they see a rising price or a reversal, that all the sudden it has to reach an even higher level on the same day, and then an even higher level tomorrow, breaking every known resistance on the chart. "It's going to go all the way $XXX!!!". Why? They think that once the reversal is in, all the work is done and we might as well go to ATH right away and skip the whole recovery part. People get caught up in this emotional exuberance that has nothing to do with actual trading trends.
cause that is what happens when demand takes over... False. It takes weeks of sideways trading and gradual uptrending to break the major resistance levels. They don't just go down because everyone suddenly decides the party is on. Look at bitcoin's history and you'll see. |
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I do not understand this mindset that people get in when they see a rising price or a reversal, that all the sudden it has to reach an even higher level on the same day, and then an even higher level tomorrow, breaking every known resistance on the chart. "It's going to go all the way $XXX!!!". Why? They think that once the reversal is in, all the work is done and we might as well go to ATH right away and skip the whole recovery part. Like everyone was just waiting for the go signal and now they're ready to buy back every coin on the book at any price. People get caught up in this emotional exuberance that has nothing to do with actual trading trends.
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Bear traps are gonna happen, but I feel today we'll be near 700.
There's no way it'll reach 700 because the 3 day emas are are $615 and $666. This will be a congestion zone which will not be broken until 3 day MACD is up. Until then $666 will be this evil resistance. It could go sideways for weeks. |
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I guess I should have just listened to Risto when he was shouting BUY BUY BUY at me at $480 and went all in, and went in cold storage, and been finished with trading. Why do I overcomplicate everything.
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