lol, this is coming from 2nd Market CEO, not reliable.
Why? This is just an advertisement / press release on behalf of his platform, published on what looks like a source that is not reputable. |
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Yep, to the moon and all that. News is everything!  |
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Technical indicators like RSI, Stoch RSI and Money Flow Index can help to indicate overbought levels, strong/weak buying pressure and momentum, and divergences from security price that can indicate an incoming reversal. MACD indicator looks at momentum and trend -- divergences from price can indicate incoming reversal, and crossover signals indicate when a trend is broken. Average true range looks at volatility, which can indicate the strength of current price movement. Aroon Oscillator can also indicate trend strength. There are other indicators, but those are what I find most useful.
You could research Eliot Wave Theory, but it takes much time to master. Also, look into chart formations/patterns -- ending diagonals, head and shoulders, flags and pennants, etc.
And remember that whatever tools you use -- there is no guarantee. This is purely in the realm of probability.
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Hmm, perhaps a bit of a bounce here. Let's keep it under 968, please!  |
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Look for support between 822 down to 764. If we break down below that then it's pretty bearish in my book. If we stabilize there and the start backup then the 970 area would be an area of resistance. Judging by the recent BTC action, a bounce should be eminent.
What exchange? Based on Gox Numbers, but all exchanges should have the same relative price action. Don't look to Gox man, I'm warning every bear here. This shit is gonna blow up in your face. Everyone is following either China or Gox, depending on which leads at the time. As far as I can tell, anyway. And China's chart formation is nearly identical to Gox. |
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Let's see what my next move is.... I'll hold fiat with a "lower than sell" buy order for a couple of days (yeah, I know, boring).
You say that now, but you are gonna buy back in before the day is over  Seriously, though, its a good strategy. IMO its going down now; you just have to be patient. How low? very difficult to say of course, but 700 is easy, maybe even 600, 500 if panic grips. If we break the previous low, lower than 500, I'd say. But it's too early to get a good feeling. We haven't yet firmly established the downtrend. |
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lmao... didn't you start this thread with the intent of mocking day traders? That's not insulting?
Come on, if you're willing to dish it out you've got to be prepared to handle the blow back.
Are you illiterate? I never stated his comments bothered me, they made me lol, they certainly didn't bother me. I ignored him as he resorted to vulgarity, vulgarity is the refuge of the poorly educated. I have no desire to waste my time reading such dribble. Calling us "low intelligence" and "fools" was vulgar, no? Perhaps just ridiculous... |
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No one's been paid since he last paid, right? Like Nov 30 I think? Any updates on the investor/bettor payout situation? I will finish this term through, but this is feeling pretty dicey right now.
Bit365, I think your customers (first and foremost) and advertisers deserve some communication.
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So I ate a fortune cookie last night, and another this mourning..both fortunes said, "People will be talking about your success." Clearly this means too the moon.
Panic buying and panic selling are both poor decisions. If your position is sound, commit to it until it is time to reassess -- not the second the market moves against you. I quite like to get away from the charts for a few hours after making a trade. (when not day trading I mean)
sound advice. but this is infact day trading. day trading doesn't mean you buy and sell the same day... I recommend HOLDING BTC like an african would HOLD USD back in 1987 day trading is a fun way to lose money. I suppose I meant day trading to mean anything on a minute-to-minute to day-to-day basis. When trading on perceived mid-term trends, I don't like to watch the market move against me so I get away for a while.... |
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Panic buying and panic selling are both poor decisions. If your position is sound, commit to it until it is time to reassess -- not the second the market moves against you. I quite like to get away from the charts for a few hours after making a trade. (when not day trading I mean)
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I could never be in the position I am without day trading. Not even close. Granted, day trading alt coins has been most profitable for me, but BTC/USD has been good to me as well. I'm sure I have gotten some great luck, too.
This is as someone who entered the market in April with almost nothing to put in -- paycheck to paycheck stylee. If I bought and held back then, I'd have >28x less value in my portfolio.
(Though I was around in 2012 for poker, but did not speculate, and never opted to hold more BTC than my bankroll required -- too fucking bad!)
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This is funny stuff.
These day traders claim they are locking in their profits.
If you are day trading in U.S. dollars you are a fool.
Anybody who knows the U.S. financial situation,
knows our debt is a hill that keeps getting steeper,
eventually the U.S. will no longer be able to climb the hill of debt.
I don't envy the day traders with lots of U.S. dollars,
BTC day traders and stock market players, victims of the great depression 2.0.
Thanks, Ron Paul. My bills are payable in USD, thank you. |
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gox is so shit, wow.
I can't even withdraw my bit coins.
What, you don't want Gox bucks?  |
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This thread is the biggest contrarian indicator I have seen to date. Think about it.
Indeed. Brought a smile to my face to see it. It was pretty good timing. |
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"Easily misinterpreted" characterises this whole "crash". The China news was easily misinterpreted as China outlawing Bitcoin completely, and the 10-year-old JPM patent, completely unrelated to anything Bitcoin does, is being easily misinterpeted on purpose by maxkeiser as JPM preparing to sue all Bitcoin exchanges. Bitcoin holders are the most jumpy creatures ever.
Monument to the "news doesn't matter" argument. Sentiment is king. |
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Anyone know what is causing the sell off again ?
just whales bringing down the price so they could buy more coins . Just like they pushed the price up to buy more dollars. |
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WEEEEEEEEEE |
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I don't get why the price is dropping !!! any bad news or just someone decided to cash out ?
No news necessary. |
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Latest thoughts, grain of salt advised:  Not dismissing these charts, but: A. A lot of these charts just confirm each other. B. We have not yet broken original trendline. C. Why does it have to be $400 or $2000? Is it not possible we could range trade between $800-$1100 for a few weeks, months, etc.? D. Have you seen the news outlets recently? http://edition.cnn.com/2013/12/10/business/will-bitcoin-replace-paypal/It's a nice article. I'm not too concerned about news at this point in the cycle. Maybe that's my mistake. I figure, I've got enough in storage if I turn out to be epically wrong -- the alt coin boom was very kind to me and there was so much money on the table. I could still panic buy at a profit now if I want to. But I just don't believe this rally. |
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Latest thoughts, grain of salt advised: Not dismissing these charts, but: A. A lot of these charts just confirm each other. B. We have not yet broken original trendline. C. Why does it have to be $400 or $2000? Is it not possible we could range trade between $800-$1100 for a few weeks, months, etc.? a. I wouldn't say that. For instance, MFI is looking at price and volume, ATR is measuring volatility. MACD is looking at the [broken] trend. Aroon Up and Down bring another element of time into the equation, and help to confirm trend on MACD. b. Depends how you like to draw it. What is the "original" trend line? c. This is bitcoin. I don't see it range trading for even a few weeks given recent price movements. We just took it like 13x from the bottom of the SR crash in what, like 2.5 months. (Excuse my fuzzy math) Also, understand that I'm just "drawing on charts"... my bearish intuition comes first and foremost. |
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