billyjoeallen
Legendary
 Offline
Activity: 1106
Merit: 1007
Hide your women
|
 |
December 03, 2014, 10:49:56 PM |
|
There has been a pattern that has repeated three times in this bear market and is in the process of repeating again, where there is a crash, a bounce, a pause, a spike, a second bounce at a much higher level and then a slow dissipation of all upward momentum leading to the next crash. We are in the dissipation period now. The key thing to watch for is the volume as the price approaches support levels on the way down. Low volume= very bad. Stay in cash even if you close your short positions. High volume means the possibility of a double bottom.
I've lost a few houses worth of money identifying this pattern, so a wise person should learn from my mistakes. The fact that it was money I made on the way up is some consolation. Still, opportunity lost is opportunity lost.
you are short now? For the first time in four years, I am margin short and looking for slightly higher prices just to sell more on margin. I have the ability to sell a lot more. It's gonna have to get worse before it gets much better. Why does it have to get a lot worse? There has been a nearly one year long bear market already. The price is barely a third of the previous high even now. 1w macd about to go green. Good luck shorting! It has to get worse because of us! Good traders buy low and sell high, reducing volatility. We bought too high and increased volatility, scaring away the hedge funds and big money that was supposed to fuel the next rally. Bitcoin is a medium of exchange and a unit of account, but thanks to those of us who sold far too little at the top, it is a piss poor store of value. We didn't have enough profits to re-invest during the bear market. I blame myself among others. |
|
|
|
|
|
|
Advertised sites are not endorsed by the Bitcoin Forum. They may be unsafe, untrustworthy, or illegal in your jurisdiction.
|
|
|
|
|
|
|
inca
Legendary
Offline
Activity: 1176
Merit: 1000
|
|
December 03, 2014, 10:55:34 PM |
|
There has been a pattern that has repeated three times in this bear market and is in the process of repeating again, where there is a crash, a bounce, a pause, a spike, a second bounce at a much higher level and then a slow dissipation of all upward momentum leading to the next crash. We are in the dissipation period now. The key thing to watch for is the volume as the price approaches support levels on the way down. Low volume= very bad. Stay in cash even if you close your short positions. High volume means the possibility of a double bottom.
I've lost a few houses worth of money identifying this pattern, so a wise person should learn from my mistakes. The fact that it was money I made on the way up is some consolation. Still, opportunity lost is opportunity lost.
you are short now? For the first time in four years, I am margin short and looking for slightly higher prices just to sell more on margin. I have the ability to sell a lot more. It's gonna have to get worse before it gets much better. Why does it have to get a lot worse? There has been a nearly one year long bear market already. The price is barely a third of the previous high even now. 1w macd about to go green. Good luck shorting! It has to get worse because of us! Good traders buy low and sell high, reducing volatility. We bought too high and increased volatility, scaring away the hedge funds and big money that was supposed to fuel the next rally. Bitcoin is a medium of exchange and a unit of account, but thanks to those of us who sold far too little at the top, it is a piss poor store of value. We didn't have enough profits to re-invest during the bear market. I blame myself among others. Either the price of btc rises significantly in the next 24 months or it fails. I see no signs of failure so far. |
|
|
|
|
billyjoeallen
Legendary
Offline
Activity: 1106
Merit: 1007
Hide your women
|
|
December 03, 2014, 10:58:04 PM |
|
Either the price of btc rises significantly in the next 24 months or it fails. I see no signs of failure so far.
I agree. I'm still a long term bull, or I'd be dumping my cold storage also and not just my trading stash. 24 months is an eternity in bitcoin time. A lot can happen between now and then. |
|
|
|
|
ChartBuddy
Legendary
 Online
Activity: 2170
Merit: 1776
1CBuddyxy4FerT3hzMmi1Jz48ESzRw1ZzZ
|
 |
December 03, 2014, 11:00:55 PM |
|
|
|
|
|
|
grappa_barricata
Full Member
Offline
Activity: 154
Merit: 100
playing pasta and eating mandolinos
|
|
December 03, 2014, 11:12:59 PM |
|
Either the price of btc rises significantly in the next 24 months or it fails.
Why? The bitcoin network can run on 3 Tibetan monks with abacuses. |
|
|
|
|
|
birr
|
|
December 03, 2014, 11:39:15 PM |
|
Either the price of btc rises significantly in the next 24 months or it fails.
Why? The bitcoin network can run on 3 Tibetan monks with abacuses. Yes, but which three? |
|
|
|
|
grappa_barricata
Full Member
Offline
Activity: 154
Merit: 100
playing pasta and eating mandolinos
|
|
December 03, 2014, 11:43:56 PM |
|
Either the price of btc rises significantly in the next 24 months or it fails.
Why? The bitcoin network can run on 3 Tibetan monks with abacuses. Yes, but which three?  The future bitcoin network, the leftmost is learning SHA-256 by heart. |
|
|
|
|
ChartBuddy
Legendary
Online
Activity: 2170
Merit: 1776
1CBuddyxy4FerT3hzMmi1Jz48ESzRw1ZzZ
|
|
December 04, 2014, 12:00:56 AM |
|
|
|
|
|
|
cbeast
Donator
Legendary
Offline
Activity: 1736
Merit: 1006
Let's talk governance, lipstick, and pigs.
|
|
December 04, 2014, 12:15:03 AM |
|
Either the price of btc rises significantly in the next 24 months or it fails.
Why? The bitcoin network can run on 3 Tibetan monks with abacuses. Yes, but which three? You misunderstand. The monks use a retrovirus to encode the blockchain into their DNA which can hold 700 terabytes per gram. |
|
|
|
|
grappa_barricata
Full Member
Offline
Activity: 154
Merit: 100
playing pasta and eating mandolinos
|
|
December 04, 2014, 12:18:07 AM |
|
Why? The bitcoin network can run on 3 Tibetan monks with abacuses.
Yes, but which three? You misunderstand. The monks use a retrovirus to encode the blockchain into their DNA which can hold 700 terabytes per gram. lol i was thinking about the bandwidth rate for a gong... 0.1 bit/second maybe... or they can use TCP-over-pigeons... |
|
|
|
|
ChartBuddy
Legendary
Online
Activity: 2170
Merit: 1776
1CBuddyxy4FerT3hzMmi1Jz48ESzRw1ZzZ
|
|
December 04, 2014, 01:00:55 AM |
|
|
|
|
|
|
ChartBuddy
Legendary
Online
Activity: 2170
Merit: 1776
1CBuddyxy4FerT3hzMmi1Jz48ESzRw1ZzZ
|
|
December 04, 2014, 02:00:55 AM |
|
|
|
|
|
|
JimboToronto
Legendary
Offline
Activity: 4004
Merit: 4480
You're never too old to think young.
|
|
December 04, 2014, 02:49:45 AM |
|
The bitcoin network can run on 3 Tibetan monks with abacuses.
Yes, but which three?  |
|
|
|
|
ChartBuddy
Legendary
Online
Activity: 2170
Merit: 1776
1CBuddyxy4FerT3hzMmi1Jz48ESzRw1ZzZ
|
|
December 04, 2014, 03:00:56 AM |
|
|
|
|
|
|
Torque
Legendary
Offline
Activity: 3556
Merit: 5041
|
|
December 04, 2014, 03:35:28 AM |
|
Amazing that a worldwide exchange market can just be completely stopped from all trading whatsoever by a few whales.
|
|
|
|
|
BlindMayorBitcorn
Legendary
Offline
Activity: 1260
Merit: 1115
|
|
December 04, 2014, 03:55:30 AM |
|
Amazing that a worldwide exchange market can just be completely stopped from all trading whatsoever by a few whales.
Is that what's happening here? |
|
|
|
|
ChartBuddy
Legendary
Online
Activity: 2170
Merit: 1776
1CBuddyxy4FerT3hzMmi1Jz48ESzRw1ZzZ
|
|
December 04, 2014, 04:00:57 AM |
|
|
|
|
|
|
noobtrader
Legendary
Offline
Activity: 1456
Merit: 1000
|
|
December 04, 2014, 04:06:08 AM |
|
Amazing that a worldwide exchange market can just be completely stopped from all trading whatsoever by a few whales.
Is that what's happening here? this proves that bitcoin is still immature. so few adopter. |
|
|
|
|
Nicholas-Carraway
Member
Offline
Activity: 150
Merit: 10
|
|
December 04, 2014, 04:11:15 AM |
|
Amazing that a worldwide exchange market can just be completely stopped from all trading whatsoever by a few whales.
Is that what's happening here? If so it's a real shame, because it's possible that the people who own almost all of the bitcoins want to own absolutely all of the bitcoins and that would sorta take all the fun away. (stupid humans..) |
|
|
|
|
cryyptc
Member
Offline
Activity: 98
Merit: 10
#BITCOIN4LIFE
|
|
December 04, 2014, 04:16:54 AM |
|
Either the price of btc rises significantly in the next 24 months or it fails.
Why? The bitcoin network can run on 3 Tibetan monks with abacuses. Yes, but which three?  obviously china has a long history of banning bitcoin "miners">> http://en.wikipedia.org/wiki/Persecution_of_Buddhists |
|
|
|
|
|
Poll
