Morecoin analysis [bitcoin/USD market observations]

[Morecoin Freeman]

Hi everyone,

I trade bitcoin for a living because I firmly believe that being self sufficient is one of the most important things a person can do.
I will put my opinions about the market here, and I will try to identify the positive and negative developments.


Always remember:
- Plan your trade, and trade your plan. If you fail to plan, you are planning to fail.
- Buy low, sell high.
- Every time you win, someone else loses.
- There is only one bottom line in trading and that bottom line is how much money you make.
- This is one of the most stressful jobs on earth. You have stress every single second. Not everybody can survive.
- Any technical indicator is really just a fancy moving average.
- The moment you start to believe you are invincible is likely the moment before you are about to take a beating.
- The market has a paddle big enough to give anyone a spanking.
- Trading is not supposed to be entertainment.

disclaimer: Use your own discretion to guide your trading decisions.

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[RyNinDaCleM]

Enjoy.

Bottom of what? This push? I'll agree with that

[BTCat]

Agreed! This could be the bottom and startingpoint of a megarally.

[Miz4r]

We're very far from the real bottom, $215 is at best good for a $15-20 dead cat bounce imo. I personally think the real bottom will be reached somewhere within 2 months from now between $80 and $160. $130 looks like a pretty safe bet to me, I am planning to close my short around there and buy a lot of coins (no margin) for the long term.

[WiiD]

There will be no bottom in 2015. BTC is falling and falling and falling.  You were all trapped by bulltards ( except RyNinDaCleM he was bearish all the time and is smart )

[inca]

We're very far from the real bottom, $215 is at best good for a $15-20 dead cat bounce imo. I personally think the real bottom will be reached somewhere within 2 months from now between $80 and $160. $130 looks like a pretty safe bet to me, I am planning to close my short around there and buy a lot of coins (no margin) for the long term.

You can plan to close your short when you want. But if the price rises then you will close it when the market decides

[gentlemand]

Pah. We'll see where we're at in 2020. Until then it's all day to day noise. I'll start to sweat when every last big gun tried and failed to get things rolling and then slunk away.

[ashour]

The bottom is more like in $150. The price will fall in the following days, you should just wait a couple day until the price hits bottom. The price is in downtrend at the moment and will probably go down.

[Mehek]

how much did u bought till now?

[Miz4r]

We're very far from the real bottom, $215 is at best good for a $15-20 dead cat bounce imo. I personally think the real bottom will be reached somewhere within 2 months from now between $80 and $160. $130 looks like a pretty safe bet to me, I am planning to close my short around there and buy a lot of coins (no margin) for the long term.

You can plan to close your short when you want. But if the price rises then you will close it when the market decides

I use proper risk management of course, but the price is very unlikely to rise up to the point where I would close my short. If it does happen I won't complain, as I'm still holding most of my coins untouched in cold storage. My short is working quite well as a hedge for me.

[Anotherthing]

Agreed! This could be the bottom and startingpoint of a megarally.

It could be, but it's not

[inca]

We're very far from the real bottom, $215 is at best good for a $15-20 dead cat bounce imo. I personally think the real bottom will be reached somewhere within 2 months from now between $80 and $160. $130 looks like a pretty safe bet to me, I am planning to close my short around there and buy a lot of coins (no margin) for the long term.

You can plan to close your short when you want. But if the price rises then you will close it when the market decides

I use proper risk management of course, but the price is very unlikely to rise up to the point where I would close my short. If it does happen I won't complain, as I'm still holding most of my coins untouched in cold storage. My short is working quite well as a hedge for me.

Nice one.

[adamstgBit]

we might see some panic selling shortly, if not then this is the bottom.

the next 24 hours really are critical

[Okurkabinladin]

we might see some panic selling shortly, if not then this is the bottom.

the next 24 hours really are critical

Adam, guy with your experience already knows, that bottom (or top) never happens on miniscule volume. So this is not bottom, unless we see massive buy impulse.

[EuroTrash]

we might see some panic selling shortly, if not then this is the bottom.

the next 24 hours really are critical

My stupid chart (based on onchain volume vs exchange rate) says you and OP are spot on (with a possible short dip in the high 100s). Yet the high volume for a bottom isn't there, and our brightest EW chartists are bearish.

 

[samson]

We are nowhere near 'the bottom' 

[Wandererfromthenorth]

Very far from the bottom IMHO  


And by "bottom" I mean a flash crash event that is gonna trigger a short term long opportunity (pumps for a few months, like $340, $275, $150) for the ones inclined, whether it will give rise to a more sustainable rally or crash again after a few months is another story.

This needs to go to 100s or double digits first. My personal target is $75-$85, but we'll know the bottom when we get there  


If by "bottom" you simply mean that it will pump for a few days/one or two weeks before the next plunge, that's possible, but it's not my thing to play these little movements  

we might see some panic selling shortly, if not then this is the bottom.

the next 24 hours really are critical

My stupid chart (based on onchain volume vs exchange rate) says you and OP are spot on (with a possible short dip in the high 100s). Yet the high volume for a bottom isn't there, and our brightest EW chartists are bearish.

 

Can I take a look?  

[waterpile]

Here we are again with the "we reach the bottom"
how many times did we reach the bottom?

[srgkrgkj]

Here we are again with the "we reach the bottom"
how many times did we reach the bottom?

quite a few times but this is it guys the real bottom !!!

[samson]

Here we are again with the "we reach the bottom"
how many times did we reach the bottom?

quite a few times but this is it guys the real bottom !!!

Of course it is