i expected that we will break the downtrend today  but do you think its a trap or its really going up from now? There's a definite possibility of a trap, but I'm not sure. That's why I'm in a 50% position. Things for a reversal: -We have broken the 1 month downtrend (on a linear chart). -MACD is up. -There are impressive walls on bitstamp. -The length in time of the bear market is consistent with previous ones in 2012 and 2013. Things against a reversal: -The stoch RSI is/was too high. -Low volume. -We are not trending on the log support trendline but significantly above it still. -The 610-660 area is cluttered with resistances on the 3 day and 1 week chart and there is no room for a significant upsurge here. -If you look on a look at a logarithmic chart, we have actually not yet broken the 1 month downtrend. |
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Today I increased my position from 35% to 50%. I will increase it again when 666 breaks.
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 Choo choo and such. |
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Welcome to low volume trading. zzzzz
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The "best thing to do" differs from person to person based on their particular needs, interests, and skills.
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It's impossible for me to take a loss because I've withdrawn the principle. I recommend any new trader do this as soon as possible - withdraw your principal. Then you will be much more confident in your trades.
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what if its a trap and this is just one downtrend within another downtrend. crashception
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It seems some big trades are taking place...
big trades? its the lowest volume day in months |
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This whipsawing is hell. 30 minutes ago I was convinced it was going down. Now because one douchebag made a buy and put up this wall, all the indicators are up again. And this has has happened about 3 times now.
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So about 20,000btc were removed from the 200s and 300s today and 1500btc was added at 570. I'm not sure what to think. The only number that doesn't lie is the volume (on bitstamp).
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1936 coins to go down to 560. What-the-fluff-is-happening?
There must be news somewhere. Either that or gigantic pump.
Really? You're theorizing there's "big news" just because of a 1500btc wall? What kind of logic is that? It's just one guy's order, and the volume today is 7000btc. By the way 1500btc is nothing. When we came out of the bear market in 2013, there were two 10,000btc walls on the order book at the same time pushing the price up and buying all the dumps. There was also volume. Price was also 20x lower?? Can't really compere this. The price doesn't matter. the USD volume doesn't matter. The BTC volume is what moves the market, because there are always the same amount of BTC, so it is the same ratio. Required btc volume might decrease a LITTLE over time due to hoarding, but not in ratio with price. Not 20 times. |
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1936 coins to go down to 560. What-the-fluff-is-happening?
There must be news somewhere. Either that or gigantic pump.
Really? You're theorizing there's "big news" just because of a 1500btc wall? What kind of logic is that? It's just one guy's order, and the volume today is 7000btc. By the way 1500btc is nothing. When we came out of the bear market in 2013, there were two 10,000btc walls on the order book at the same time pushing the price up and buying all the dumps. There was also volume. |
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When the bitcoin market picks up volume, it will include volatility.
You daily market forcast, with TERA.
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...
You are mixing up unpredictable events with an event that had been predicted a year in advance.
Death is inevitable, and everyone is going to die -- most adults know that. Nevertheless, there are often tears at funerals. Go figure. Gox proclaimed dead. Funeral to be arranged shortly:  Invitations going out soon...  |
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Bitcoin phrase of 2014 : "PRICED IN"
lol, agreed It shits me how everything is always 'priced in' China laws? ... no worries, priced in! Russia ban? ... are you kidding, priced in! Russian unban?!! ... told ya mate, priced in! Mt Gox crash? ... too easy! priced in! Mark K detailed at airport with 750K coins in paper wallets ... you guessed it! Im exaggerating obviously but you get the point. You are mixing up unpredictable events with an event that had been predicted a year in advance. |
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I've seen someone get banned for 3000 years at btc-e for using the word "nigger".
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By the way I do also keep a buy and hold position of 20% of my crypto funds at all times in cold storage. This consists of 15 times as many bitcoins as I obtained in my original purchase when I first started. So if bitcoin reaches millions, then, no matter what, I will be enjoying my time with the bulls. The funds that I use for trading... are just extra trading profits which, according to bulls, I shouldn't possibly have anyway.
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Go away with your emotional buy and hold propoganda. I've heard it a million times and I'm not interested in the buy and hold strategy. If all I ever did was buy and hold I'd have 2% of what I have now. I'd have NOTHING.
You've made 50X your original buy-in? So about the same as everyone who's been holding for a year, right? Is it worth all the stress to marginally outperform the market? I mean, you don't seem to be enjoying it, judging from your posts. I'm not marginally outperforming the market. I'm outperforming it by 5,000%. You must have misinterpreted my post. Let me get this straight. Bitcoin is up ~600% since you started trading, so you've made ~300X profit in fiat terms? Is that what you're claiming? That's difficult to believe considering some of the bad calls you've made. That's correct. And yes I've made bad calls. But most of my profit does not come from calling the major reversals in bear markets and bull markets correctly - it actually comes from daytrading during high volume high volatility times when money is flying all over the place and there are literally opportunities to make 1000% profit in a day, especially if you use leverage. Now take someone who doesn't make 'bad calls' and take someone who only makes good calls (a god) - they might be up 1,000,000% by now in the same time that I took to make 30,000%. |
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