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Author Topic: Lose all your capital fast, with MatTheCat and his TA 101A!  (Read 85742 times)
MatTheCat
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April 24, 2016, 10:09:51 PM
 #81

I absolutely agree with your point. That is why I took a position before the ending of the very big triangle. From a day-trading point of view, it sucks to enter after such a violent rise(with low volume). On the other hand, the triangle broke to the upside.

But it gives high confidence in your decisions and also in the strength of your hands if you have a concrete perspective for bitcoin in the near future. I expect bitcoin to be in the next years in a price region of 3-8k$. (The halvening is a part of the puzzle, that makes these regions available) This makes it easier to hold even if the market turns to the downside of a trade. (and ease of mind)

I dunno...

Whenever I have put concrete faith in Bitcoin in the past, I have ended up getting slapped in the face by whale dick.

Kraken Account, Robbed/Emptied. Kraken say "Fuck you, its your loss": https://bitcointalk.org/index.php?topic=1559553.msg15656643#msg15656643

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April 25, 2016, 12:04:36 AM
 #82

I absolutely agree with your point. That is why I took a position before the ending of the very big triangle. From a day-trading point of view, it sucks to enter after such a violent rise(with low volume). On the other hand, the triangle broke to the upside.

But it gives high confidence in your decisions and also in the strength of your hands if you have a concrete perspective for bitcoin in the near future. I expect bitcoin to be in the next years in a price region of 3-8k$. (The halvening is a part of the puzzle, that makes these regions available) This makes it easier to hold even if the market turns to the downside of a trade. (and ease of mind)

I dunno...

Whenever I have put concrete faith in Bitcoin in the past, I have ended up getting slapped in the face by whale dick.

Because you have literally the weakest hands on earth, even for a fidgety day trader.

Rule 1)  Never buy anything that you can't hold for at least a week if something goes wrong

Rule 2)  Never buy anything without envisioning an entry and exit point date, and realistic low-ball price estimate of start and finish of those dates (which you never seem to do and just play it by 4hr charts constantly panicing)

*If you're already in the black, you can use Bitcoin as a store of value and disregard rule #2 since the alternative stores of value aren't very good anyway.

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MatTheCat
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April 25, 2016, 12:25:03 AM
 #83

Because you have literally the weakest hands on earth, even for a fidgety day trader.

Rule 1)  Never buy anything that you can't hold for at least a week if something goes wrong

Rule 2)  Never buy anything without envisioning an entry and exit point date, and realistic low-ball price estimate of start and finish of those dates (which you never seem to do and just play it by 4hr charts constantly panicing)

*If you're already in the black, you can use Bitcoin as a store of value and disregard rule #2 since the alternative stores of value aren't very good anyway.

Yep...cos I don't really believe in Bitcoin at the end of the day.

I bought gold and silver years ago, watched them double in value, and then watched the gains get totally wiped out, and then some. But I am still holding the entire lot. Obviously, with them being physical metals that I hold in my hand, I just can't buy/sell at the click of a button, and that helps with the perpetual holding, but, I believe in them. I believe that these coins have intrinsic value, and always will do.


Kraken Account, Robbed/Emptied. Kraken say "Fuck you, its your loss": https://bitcointalk.org/index.php?topic=1559553.msg15656643#msg15656643

Bitfinex victims. DO NOT TOUCH THE BFX TOKEN! Start moving it around, or trading it, and you will be construed as having accepted it as an alternative means of payment to your USD, BTC, etc.
MatTheCat
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April 25, 2016, 12:25:15 AM
 #84


Kraken Account, Robbed/Emptied. Kraken say "Fuck you, its your loss": https://bitcointalk.org/index.php?topic=1559553.msg15656643#msg15656643

Bitfinex victims. DO NOT TOUCH THE BFX TOKEN! Start moving it around, or trading it, and you will be construed as having accepted it as an alternative means of payment to your USD, BTC, etc.
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April 25, 2016, 01:45:14 AM
 #85

You're still using invalid TA.  The price was around $420 and there was a coordinated shakeout that dropped price to $408 or whatever with the goal of triggering some stoploss to buy lower.  This was the beginning of the halving rise bull run.  You keep pulling up TA from like 6 months ago trying to link that to now, which is completely useless and you'll continue to lose yourself money if you try to trade that ancient TA.

The fundamentals are vastly different now due to block size halving very soon, and there was also a very strong floor at $420 before the coordinated shakeout which instantly rebounded.  When I see you posting charts from half a year ago when the price was $380, it's like looking at some student's first attempt at charting in freshmen year at college because that data is worthless.  There are times when you cannot build valid charts because the data doesn't exist yet, and this is one of them.

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April 25, 2016, 02:07:56 AM
 #86

http://postimg.org/image/sud3nswl3/

http://s31.postimg.org/dfnpvjeuz/long_term_resistance_broken.png

These two patterns are ones I've found very interesting - I'm not a chart guy but the wedge pattern pattern is too perfect and the fact that the current rise correlates very well with the closure of the wedge, to me, seems very bullish. The fact that this multi-month wedge resulted from an initial run-up in price suggested that the wedge, when it finally broke, would break up and not down.

Also looking at the longer-term resistance line from the ATH on a log chart, it lines up extremely well with many of the peaks within the wedge pattern, finally breaking above at the same breakout point we see from 420-470. Not sure what, if anything, this implies but it all seems very bullish to me and the recent price action has supported my thoughts on it. Went long an additional coin on the 15th just to add to my stash, but I'm a holder and not a trader so I don't intend to sell any of my coins anytime soon.

EDIT: I'm clearly retarded and don't know how to post images directly Sad
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April 25, 2016, 02:26:52 AM
 #87


I love it.  Grin

MatTheCat
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April 25, 2016, 08:27:29 AM
 #88





These two patterns are ones I've found very interesting - I'm not a chart guy but the wedge pattern pattern is too perfect and the fact that the current rise correlates very well with the closure of the wedge, to me, seems very bullish. The fact that this multi-month wedge resulted from an initial run-up in price suggested that the wedge, when it finally broke, would break up and not down.

Also looking at the longer-term resistance line from the ATH on a log chart, it lines up extremely well with many of the peaks within the wedge pattern, finally breaking above at the same breakout point we see from 420-470. Not sure what, if anything, this implies but it all seems very bullish to me and the recent price action has supported my thoughts on it. Went long an additional coin on the 15th just to add to my stash, but I'm a holder and not a trader so I don't intend to sell any of my coins anytime soon.

EDIT: I'm clearly retarded and don't know how to post images directly Sad

Yep she is a bull alright.

But it would also be entirely textbook stuff for BTC to now go and retest the trend line which it just breached, and if it doesn't happen.....then that is tough titties for all the doubters like me.

80% chance that she does, 20% chance that she doesn't, although these odds may be lessened somewhat by the fact we have been in a range for the past 5 months (not out of range until $475 is breached, and arguably also not until $500 is breached.

Kraken Account, Robbed/Emptied. Kraken say "Fuck you, its your loss": https://bitcointalk.org/index.php?topic=1559553.msg15656643#msg15656643

Bitfinex victims. DO NOT TOUCH THE BFX TOKEN! Start moving it around, or trading it, and you will be construed as having accepted it as an alternative means of payment to your USD, BTC, etc.
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April 25, 2016, 11:58:03 AM
 #89

then that is tough titties for all the doubters like me.

That's the problem with your thinking.  Everybody knows there's going to be systematic, global financial collapse in the near future.  It could happen at any time.  Whether you believe Bitcoin will exist or not 100 years from now doesn't matter.  All that does matter is, it's definitely going to exist when JP Morgan, Citibank, BoA, Deutsche Bank, and everything else all implode.  The price of Bitcoin will go through the roof and likely outdo gold gains by a few orders of magnitude.  

No matter what happens, Bitcoin will play a large role in the transition process of whatever is to come.  There's nothing much to doubt.  It's already existed for 7 years and the financial system will implode before another 7 happens.  There's my playbook of the financial implosion explained:

https://bitcointalk.org/index.php?topic=1413819.msg14624054#msg14624054

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MatTheCat
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April 25, 2016, 07:09:02 PM
 #90

then that is tough titties for all the doubters like me.

That's the problem with your thinking.  Everybody knows there's going to be systematic, global financial collapse in the near future.  It could happen at any time.  Whether you believe Bitcoin will exist or not 100 years from now doesn't matter.  All that does matter is, it's definitely going to exist when JP Morgan, Citibank, BoA, Deutsche Bank, and everything else all implode.  The price of Bitcoin will go through the roof and likely outdo gold gains by a few orders of magnitude.  

No matter what happens, Bitcoin will play a large role in the transition process of whatever is to come.  There's nothing much to doubt.  It's already existed for 7 years and the financial system will implode before another 7 happens.  There's my playbook of the financial implosion explained:

https://bitcointalk.org/index.php?topic=1413819.msg14624054#msg14624054


Bitcoin is far too risky an asset to be seen as a 'safe haven' in the event of a global economic collapse, and by global economic collapse, I am assuming you mean the outright death of the US dollar, to be replaced at some point in the future by fuck knows what.

Bitcoin could however have a lot of appeal, to those in stricken economies seeking to get their wealth out of the country, and into USD, or at least USD denominated assets. Any serious amount of capital flight from China for example, would make Bitcoin pump a lot, but then there all the attendant hazards that have bitten Bitcoin in the past. For example, if the Chinese authorities consider that capital flight via Bitcoin is getting out of hand, they could just ban it outright overnight. They could make it a punishable offense to own it, and order all the Bitcoin miners to cease operations. The fear, uncertainty, and doubt, not to mention the glut of Chinese held Bitcoins likely to hit the market, would cause Bitcoin to tank. This is just one hypothetical scenario of many that rules Bitcoin out as a 'safe haven' asset.

In my view, Bitcoin's worth relies upüon, and is defined by it's convertability into fiat currencies, primarily, the USD. If such a global crash were to occur, I would assume it would occur in stages, and during the capital flight from vulnerable economies stage, I could see Bitcoin shooting up a lot, but if the market ultimately losses faith in the credit worthiness of the US government, and the entire Petrodollar system goes down, then humanity will be back towards looking at things of real tangible value. Wealth will be derived from those holding what real wealth actually is. Land, resources upon or within that land, the means of production, and pretty much all commodities, a very important one of which is gold.

Chinese government are the largest importer of physical gold, and China is also the largest producer of gold, yet they don't export any of it. I think it is pretty clear that Chinese see gold as a vital strategic asset, in preparation for what is to come and unlike Bitcoin, the Chinese encourage their citizens to buy precious metals.

Kraken Account, Robbed/Emptied. Kraken say "Fuck you, its your loss": https://bitcointalk.org/index.php?topic=1559553.msg15656643#msg15656643

Bitfinex victims. DO NOT TOUCH THE BFX TOKEN! Start moving it around, or trading it, and you will be construed as having accepted it as an alternative means of payment to your USD, BTC, etc.
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April 25, 2016, 11:47:43 PM
 #91



Kraken Account, Robbed/Emptied. Kraken say "Fuck you, its your loss": https://bitcointalk.org/index.php?topic=1559553.msg15656643#msg15656643

Bitfinex victims. DO NOT TOUCH THE BFX TOKEN! Start moving it around, or trading it, and you will be construed as having accepted it as an alternative means of payment to your USD, BTC, etc.
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April 26, 2016, 01:25:41 AM
 #92

So, when it hits $500, do you just make a new chart and pretend the last one doesn't exist?  Also, Bitcoin as a physical currency is going to be yuge.  All technically unsavy people will be using this stuff like crazy in place of $100 bills:  https://opendime.com/

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April 26, 2016, 01:55:25 AM
 #93

So, when it hits $500, do you just make a new chart and pretend the last one doesn't exist?  Also, Bitcoin as a physical currency is going to be yuge.  All technically unsavy people will be using this stuff like crazy in place of $100 bills:  https://opendime.com/

You are fucking delusional. Nobody is going to give a flying fuck about some crypto bullshit monopoly play money if the dollar collapses. If that happens, you better run for your life to the hills. Do you honestly believe bitcoin is going to save the world from societal collapse following economic collapse? if so, you should really see a shrink. The ONLY thing bitcoin does well is serve as a betting tool, nobody in the real world uses it or gives a shit about it. The fact there is no way to reverse a charge or appeal to somebody in the event you get scammed is reason enough it will never be a major currency - let's not even get into the issues of scaling to any real usage vs transaction time.
Btw, this uptrend is very low on volume, I seriously doubt it will continue without a correction.
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April 26, 2016, 02:03:09 AM
 #94

So, when it hits $500, do you just make a new chart and pretend the last one doesn't exist?  Also, Bitcoin as a physical currency is going to be yuge.  All technically unsavy people will be using this stuff like crazy in place of $100 bills:  https://opendime.com/

You are fucking delusional. Nobody is going to give a flying fuck about some crypto bullshit monopoly play money if the dollar collapses. If that happens, you better run for your life to the hills. Do you honestly believe bitcoin is going to save the world from societal collapse following economic collapse? if so, you should really see a shrink. The ONLY thing bitcoin does well is serve as a betting tool, nobody in the real world uses it or gives a shit about it. The fact there is no way to reverse a charge or appeal to somebody in the event you get scammed is reason enough it will never be a major currency - let's not even get into the issues of scaling to any real usage vs transaction time.
Btw, this uptrend is very low on volume, I seriously doubt it will continue without a correction.

All of your posts are the same garbage saying the price is going to collapse to 0 any second.  Clearly a bought account.  Probably the same guy as "Talks_Cheap".  Please short with your entire life savings banker shills, you'll be doing us a favor when you have to cover at a loss.  Do it, put your money where your mouth is.  You won't?  Didn't think so.  Mat is basically a banker shill that's off the payroll and we already saw what happened to him.  After his shorts, he now wakes up in the middle of the night sweating, having nightmares about losing more money.

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April 26, 2016, 02:28:41 AM
 #95

So, when it hits $500, do you just make a new chart and pretend the last one doesn't exist?  Also, Bitcoin as a physical currency is going to be yuge.  All technically unsavy people will be using this stuff like crazy in place of $100 bills:  https://opendime.com/

You are fucking delusional. Nobody is going to give a flying fuck about some crypto bullshit monopoly play money if the dollar collapses. If that happens, you better run for your life to the hills. Do you honestly believe bitcoin is going to save the world from societal collapse following economic collapse? if so, you should really see a shrink. The ONLY thing bitcoin does well is serve as a betting tool, nobody in the real world uses it or gives a shit about it. The fact there is no way to reverse a charge or appeal to somebody in the event you get scammed is reason enough it will never be a major currency - let's not even get into the issues of scaling to any real usage vs transaction time.
Btw, this uptrend is very low on volume, I seriously doubt it will continue without a correction.

All of your posts are the same garbage saying the price is going to collapse to 0 any second.  Clearly a bought account.  Probably the same guy as "Talks_Cheap".  Please short with your entire life savings banker shills, you'll be doing us a favor when you have to cover at a loss.  Do it, put your money where your mouth is.  You won't?  Didn't think so.  Mat is basically a banker shill that's off the payroll and we already saw what happened to him.  After his shorts, he now wakes up in the middle of the night sweating, having nightmares about losing more money.

I'm the same person who started this account, retard.
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April 26, 2016, 02:33:56 AM
Last edit: April 26, 2016, 04:34:57 AM by marcus_of_augustus
 #96

So, when it hits $500, do you just make a new chart and pretend the last one doesn't exist?  Also, Bitcoin as a physical currency is going to be yuge.  All technically unsavy people will be using this stuff like crazy in place of $100 bills:  https://opendime.com/

You are fucking delusional. Nobody is going to give a flying fuck about some crypto bullshit monopoly play money if the dollar collapses. If that happens, you better run for your life to the hills. Do you honestly believe bitcoin is going to save the world from societal collapse following economic collapse? if so, you should really see a shrink. The ONLY thing bitcoin does well is serve as a betting tool, nobody in the real world uses it or gives a shit about it. The fact there is no way to reverse a charge or appeal to somebody in the event you get scammed is reason enough it will never be a major currency - let's not even get into the issues of scaling to any real usage vs transaction time.
Btw, this uptrend is very low on volume, I seriously doubt it will continue without a correction.

Who said anything about a dollar collapse ... think about a systemic monetary lock-up scenario where SWIFT gets hacked in a retaliatory cyber-strike by Iran/China/Russia for being shut out by bully-boy USA/UK/Israel axis.

Which system are you going to use for global bank settlement transfers on the day SWIFT can  no longer be trusted?

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April 26, 2016, 02:45:43 AM
Last edit: April 26, 2016, 03:57:32 AM by r0ach
 #97

The system I described was cascading defaults of digital fiat USD.  Since all banks are fractional reserve, the money supply vastly decreases in a liquidity crunch during this scenario.  People who are all in on digital USD would get a massive haircut because money is literally destroyed in such a process.  It could be 30%, 50%, 90%, or maybe the cogs would just cease to continue turning with permanent bank holiday.  In a scenario like this, the paper money circulating would continue to have value (at least for a while), while the digital USD would probably just cease being traded.  So, no, I did not describe a situation where the USD goes to 0, just the only way a deflationary collapse can play out in a system that utilizes fractional reserve fiat currency.

Due to Gresham's law, the paper money would still be everywhere, but the digital USD would not be trusted.  People will trust digital BTC a hell of a lot more in such a situation.  There's no bank holiday in Bitcoin.  There's no "woops, we destroyed 90% of the money supply because you were literally trading debt and the debts were all defaulted".

The Bernanke solution to prevent deflationary death spiral, "helicopter money", was just an unfunded tax cut.  This would do absolutely nothing to stop it.  You would need to literally give away free money in the form of "basic income" to everyone in an effort to try and cause inflation.  The act of doing this would provide short term relief, but would likely rubberband into hyperinflation, or completely kill all confidence in the currency where people just abandon it.  If you've gotten to this point, the fiat game is already over.  You have to switch to another currency.  Instead of an instant collapse, you *might* be able to turn it into a long drawn out process of collapse with people just constantly fleeing to some other more sound money over the course of a few years.

After people lose their entire life savings, hundreds of thousands of dollars, you're not going to be able to force them back into an identical fiat currency, even at the end of a gun.  There's really nowhere for anyone to go besides land, metals, and Bitcoin.  In a monetary collapse like this, assuming society still functions at some level, which it likely will, you can still buy things like food, you just can't trade land for food at the grocery store.  The most valuable thing will be liquid currency.  This is the point where you buy land, houses, cars, and everything else for pennies on the dollar with Bitcoin and gold, but Bitcoin will see higher returns than gold due to being a much smaller market.  That and gold doesn't actually function as currency in any modern civilization due to lack of granularity and high friction in use.

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April 26, 2016, 04:21:24 AM
 #98

...
Which system are you going to use for global bank settlement transfers on the day SWIFT can longer be trusted?

-Mr. President, our financial system is lying in smoldering ruins, the streets run red with the blood of Fortune 500 execs, WHAT DO WE DO?!!
-Calm down, Janet! We're prepared for such contingencies. Quick, log into your eBay account! Time for  Plan B: BTCeanie BTCabies!! And also Ethers!
Ethers will be the silver to BTCeanie BTCaby gold!
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April 26, 2016, 04:42:58 AM
Last edit: April 26, 2016, 05:23:53 AM by r0ach
 #99

...
Which system are you going to use for global bank settlement transfers on the day SWIFT can longer be trusted?

-Mr. President, our financial system is lying in smoldering ruins, the streets run red with the blood of Fortune 500 execs, WHAT DO WE DO?!!
-Calm down, Janet! We're prepared for such contingencies. Quick, log into your eBay account! Time for  Plan B: BTCeanie BTCabies!! And also Ethers!
Ethers will be the silver to BTCeanie BTCaby gold!

Due to the fact that there's no Bitcoin "bank holidays", and it's immune to cascading default, deflationary collapse, unlike fractional reserve fiat is, it would likely play out more like this:



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April 26, 2016, 04:53:57 AM
 #100

^^Fancy that, a cockroach posting pictures on the internet Shocked
What will they think of next?
Stock up on BTCeanies and ethers, household insect. You'll thank me later!
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