Don't get your asses handed to you BTC n00bs! This is a Bear.

[MatTheCat]

https://www.tradingview.com/x/pIS9jUMv/





See that big massive purple M. That is a big massive confirmed bear M, and if you like, also a double top to the $502 high. Such bearish market structure is not to be ignored. Don't allowed yourself to buy into any of the retarded bull talk on this forum. This is not a buying opportunity, unless you are an ace day trader who knows precisely when you are gonna dump your BTC. Trend is your Friend. Weekly Chart is still a bull, but fuck trading of the weekly trend. come in a bit closer and things looking a bit less rosy, and certainly the 4Hr trend is firmly bear.

Trend is bear, Daily mom are (were) maxed out, and will now be looking to give the floor some more attention, and that Big M is a very strong market signal telling you all you need to know about what lies ahead for this market.

When/If BTC hits the Red Box, then start looking for shorts......this will be easier said than done, as I imagine when/if BTC gets up there, Pro Traders will be over it like a rash, and shorting the fuck out of BTC. and more cautious/less skilled traders will be unlikely to get the market structure that we like, in the trade location that we like.

[thms]

It doesn't work like this man... that's why most of your predictions are wrong.

[MatTheCat]

It doesn't work like this man... that's why most of your predictions are wrong.

Strictly speaking, that isn't my prediction, although I have already profited from a cracking short trade (https://www.tradingview.com/x/7SrPR03D/) after having heeded warnings about the 3 Months Future Contract expiration on the 25th.

Out the short for now, but will hunt another setup for sure when BTC makes 61.8% retrace....IF it makes a 61.8% retrace.

[Enjorlas]

MattheCat may or may not be a troll, but he speaks truth in this thread. Bear market confirmed.

[Adam1395]

It is not some general currency pair or commodity which depends on trends and news it  is emotion driven commodity of valued for the long term and as the users of bitcoin increase so will its potential. Of you ever traded bitcoin you would have known that fact. And the correction 2016 will be a bull market for bitcoin at least the first two quarters.

[The Sceptical Chymist]

Jesus do any of you know what a bear market is?   It seems everyone here is mistaking a short downward trend with a full blown bear market.  The long term trend is up, 2013 be damned.

[MatTheCat]

Jesus do any of you know what a bear market is?   It seems everyone here is mistaking a short downward trend with a full blown bear market.  The long term trend is up, 2013 be damned.

Read my post dude. I aint saying the primary trend is a bear. But the current trend we are in right now, is bearish. You can say "tchoh, just a correction in the grander scheme of things" and it may well be, but a correction down to $400?, $360? or what about $280?

Any of the above could hit, without Bitcoin being in a 'bear' market.

[brg444]

Thank you I feel better about it now.

Expecting the price to recover within a week, should break 500 in January.

[CoinCidental]

Thank you I feel better about it now.

Expecting the price to recover within a week, should break 500 in January.

The thing people here  don't like is when it breaks $500 it will likely keep going northwards....
The adoption is increasing, like it or not( because numbers can't lie)
The halving is coming too, like it or not
There will be scarce supply and increased demand
That can only lead to higher prices based on the history of the world's resources.....

Everyone wants to buy it cheaper... Hence the doorm and gloom threads but they are weaklings as far as the btc economy is concerned.....

Power will shift from the get rich kids to the strong hands

.. Like everything else

History repeats itself all the time.... Let them dump at $4xx and pity them when $10,000  is the norm.....

[kwukduck]

The thing people here  don't like is when it breaks $500 it will likely keep going northwards....

-- oh? Why?

The adoption is increasing, like it or not( because numbers can't lie)

-- what numbers?  Nobody is adopting bitcoin, regular people really couldn't care less about it.


The halving is coming too, like it or not

-- this has already been calculated into current price levels for for a long time.


There will be scarce supply and increased demand

-- in a fantasy world... sure...


That can only lead to higher prices based on the history of the world's resources.....

-- bitcoin is not a resource. It's a useless piece of computer code with more flaws than functions.
-- so many new, revolutionary future proof c systems have been a de made since. Bitcoin is technologically dead. The only thing still somewhat alive is the hype.

Everyone wants to buy it cheaper... Hence the doorm and gloom threads but they are weaklings as far as the btc economy is concerned.....

-- sure everyone wants to buy cheaper. That's why everyone is selling....
 

History repeats itself all the time.... Let them dump at $4xx and pity them when $10,000  is the norm.....Smiley

-- the delusion is strong in this one

[MatTheCat]

Latest Trade:

https://www.tradingview.com/x/ihaZ2Lpk/

Yep, I am long, but that don't mean I am bullish, but what comes crashing down, must bounce back up.....a little.

[Scorpian]

bear is short term but bull is long term, everyone knows bitcoin will go above 1000$

[MatTheCat]

bear is short term but bull is long term, everyone knows bitcoin will go above 1000$

Do they?

I most certainly fucking don't and neither will the panic sellers down at $360, $300, $280 etc.

[spiderbrain]

Hey Matt, thanks, I feel better now. If you're bearish, things should probably turn out fine

[MatTheCat]

Hey Matt, thanks, I feel better now. If you're bearish, things should probably turn out fine

Erm...I am currently in a long dude, but the trade is running 'swimmingly' so far, thanks:

[afbitcoins]

Matt matt matt I keep telling you sooner you turn bullish more you will profit

This short term bear phase will be short lived, I'm thinking bear trap

[afbitcoins]

Bull fork still in play. I grant you price may fall a bit further in short term but the trend is still up my friend.

[chesthing]

If you're waiting for a crash from here, glwt.

[MatTheCat]

If you're waiting for a crash from here, glwt.

You said that the last time dude!

 

I suspect we will be stuck in a range between the bottom and $450 for a good few sessions yet.....but when that breaks.........I like DOWN, way more than UP.

[chesthing]

If you're waiting for a crash from here, glwt.

You said that the last time dude!

 

I suspect we will be stuck in a range between the bottom and $450 for a good few sessions yet.....but when that breaks.........I like DOWN, way more than UP.

$450 to a brief low of $407 then right back to $420s is not a crash, not even remotely so. It's a minor dip, and if you sold everything in the $420s waiting for $3xx or $2xx like I said, glwt. 
It's holding strong above $400, get some perspective - this is hugely bullish for 2016.