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Are you guys talking about LTC? Lol
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Let the dumping fest beginnnn
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You guys think we'll make a short term top around $260?
I was thinking that many people seem to be eager to pick up at sub 200 so if we make new lows, I feel like it should be shortlived and it'll be obvious that it is a bottom. But bottoms are rarely easy to tell which is why I think that we may not see new lows.
A short term top may already be in place but a move towards 260 is not unlikely. After some consolidation between here and 1400 yuan we might take another leg up higher towards 1800, but it is equally likely at this point that we will begin the last greater leg towards new lows to conclude the bear market around $100. That was pretty close at $258. In your last count, you calculated the distance of breakout from its preceding triangle. Does it land between $255-260? Don't you think once we enter sub 220s again from here, it would be very likely to head downwards? Yes, I think if we pass 220 we will be on our way to new yearly lows. we could consolidate above that possibly before another leg up also, but I prefer the bearish take. It seems like this impulse in over, we have clearly had a fifth wave erupt from a iv wave triangle on the smaller time frames which concludes two degrees of impulse. we will likely head down to 240 from here. We didn't. 1680 CNY seems to be very close to be broken from here. What's your take now? |
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You guys think we'll make a short term top around $260?
I was thinking that many people seem to be eager to pick up at sub 200 so if we make new lows, I feel like it should be shortlived and it'll be obvious that it is a bottom. But bottoms are rarely easy to tell which is why I think that we may not see new lows.
A short term top may already be in place but a move towards 260 is not unlikely. After some consolidation between here and 1400 yuan we might take another leg up higher towards 1800, but it is equally likely at this point that we will begin the last greater leg towards new lows to conclude the bear market around $100. That was pretty close at $258. In your last count, you calculated the distance of breakout from its preceding triangle. Does it land between $255-260? Don't you think once we enter sub 220s again from here, it would be very likely to head downwards? Yes, I think if we pass 220 we will be on our way to new yearly lows. we could consolidate above that possibly before another leg up also, but I prefer the bearish take. It seems like this impulse in over, we have clearly had a fifth wave erupt from a iv wave triangle on the smaller time frames which concludes two degrees of impulse. we will likely head down to 240 from here. Can you please post a chart with your counts if you don't mind? Also, almost 20% in 2 days.. this alone is a very bearish signal. FOMO is the other side of panic. Both are extremely strong in this market. This market is heavily reactionary due to inexperience amongst traders. Whale moves price->traders follow (usually too late)->whale pushes back->sheep... You know. Eventually, we hit a point of exhaustion, and it cools off. But the overshooting is usually immense first. Wouldn't it be fair to assume that Bitcoin also has now a minority of experienced traders? The crazy spikes must be really profitable for them. What's your opinion on this overshooting, btw? Do you agree with chessnut's opinion on finding a bedrock at $100? |
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You guys think we'll make a short term top around $260?
I was thinking that many people seem to be eager to pick up at sub 200 so if we make new lows, I feel like it should be shortlived and it'll be obvious that it is a bottom. But bottoms are rarely easy to tell which is why I think that we may not see new lows.
A short term top may already be in place but a move towards 260 is not unlikely. After some consolidation between here and 1400 yuan we might take another leg up higher towards 1800, but it is equally likely at this point that we will begin the last greater leg towards new lows to conclude the bear market around $100. That was pretty close at $258. In your last count, you calculated the distance of breakout from its preceding triangle. Does it land between $255-260? Don't you think once we enter sub 220s again from here, it would be very likely to head downwards? Yes, I think if we pass 220 we will be on our way to new yearly lows. we could consolidate above that possibly before another leg up also, but I prefer the bearish take. It seems like this impulse in over, we have clearly had a fifth wave erupt from a iv wave triangle on the smaller time frames which concludes two degrees of impulse. we will likely head down to 240 from here. Can you please post a chart with your counts if you don't mind? Also, almost 20% in 2 days.. this alone is a very bearish signal. |
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You guys think we'll make a short term top around $260?
I was thinking that many people seem to be eager to pick up at sub 200 so if we make new lows, I feel like it should be shortlived and it'll be obvious that it is a bottom. But bottoms are rarely easy to tell which is why I think that we may not see new lows.
A short term top may already be in place but a move towards 260 is not unlikely. After some consolidation between here and 1400 yuan we might take another leg up higher towards 1800, but it is equally likely at this point that we will begin the last greater leg towards new lows to conclude the bear market around $100. That was pretty close at $258. In your last count, you calculated the distance of breakout from its preceding triangle. Does it land between $255-260? Don't you think once we enter sub 220s again from here, it would be very likely to head downwards? |
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There you go.  |
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...Still bearish, huh?
There's a chance that we go to 360 to complete an even larger ABC off the 152 low. Still bearish? Absolutely! Don't go getting out your moons and trains just yet!  Yep. This doesn't seem like a moon moment yet, heh. |
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Very accurate, Chessnut. We hit $238 on Bitfinex rather very quickly. Still bearish, huh?
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short squeeze to 255 then consolidate.
edit: please, thank you.
bullshit. If we're going to $255 then we're going to $350, but I think we might be going down first. Time will tell. Fake breakout? It's a real breakout, but we don't know yet if it has legs. Just like that little bump to $$248 on Feb 3rd, there's money to be made trading these little swings, but I don't have the balls to do it for fear I'll miss out on the short squeeze to $350 that's coming. The CB pump and dump to $315 was a no-brainer. I trade the no-brainers and leave the smaller swings to people smarter/luckier/more ballsy than me. As I said weeks ago, I buy a little every day until the short squeeze or for three months, whichever happens first. Gotmilk was right. MACD is a trailing indicator. It is not useless but its utility is limited. There is no crystal ball. The closest thing we have is the Four Punch Pattern, market momentum and the order book. Oh, there's definitely money to be made if you don't let your emotions guide you. Everyone was expecting a move outside the triangle so here it is. This mini rally could have been orchestrated before the actual breakout. Yet there are no shorts available at a decent rate. |
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Strange hunch that this is going back in the 220s. Got out at $235.
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short squeeze to 255 then consolidate.
edit: please, thank you.
bullshit. If we're going to $255 then we're going to $350, but I think we might be going down first. Time will tell. Fake breakout? |
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I hate to admit it but this has gone badly, I was one of the few lucky ones who did snap up the $20.06 on offer through pay base, however I was stupid enough to reinvest. I am closing out the position and will still get an average price of $15. However I am now seeing this for what it is and that is just another alt coin, everything you can do in Pay Base once on line I can already do in one format or another here in Australia with BTC.
As for the hash stakers all of mine were converted hashlets as there was no point in keeping an investment that was never going to win, the premier account doesn't do anything for me as I am in Australia and most of the features will be US based, as Josh is trying to ensure everything he does is within the law only US citizens will be able to get a debit card.
Hashstakers are already a dead investment, if you bought a staker you have no chance of a ROI at $9.00 per coin. The converted ones will only miss the opportunity to sell their coins as the market is dying.
With only 1.4 million dollars in trade yesterday Josh should of been able to keep a $20 floor in place but chose not to, in fact had of Josh put and kept a $20 floor in place the markets would now be trading at around the same level.
So I now find myself asking what has happened to the supposed 100 million fiat, and the 10 million in BTC mined (as stated in the WJS article), the 10 million in BTC alone should have held a floor price.
I have been a semi supporter of GAW but now find the lies are to far fetched for me, I actually think LTC gear has more chance of paying me this week then I have in seeing the $20 floor price again.
So I must say I now think that most people here are right and I was probably wrong.
It's never too late. But I'm sorry for your loss. It has been quite a ride for everyone involved. |
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Oh boy. Although I can't verify the accuracy of the said tale, but damn the OP has solid storytelling skills. It kept me hooked till the end.
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Times are changing. The male gender is going through some obscure transitional phase. It is fuckin weird to be honest.
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