Another MatTheCat Near Term Price Prediction.

[MatTheCat]

Why do you think we will go below 750 again?
Sorry for my nooby question. I'm really interested in understanding all those movements.

Thx
W

Look at the charts. Take note of the parabolic rise, the double top, the crashes, followed by the slow recovery (market memory) right up to the $1000 resistance level. Then notice the descending triangle formation from the 6th Jan, until the break down on the 28th Jan.

In 9/10 text book examples, and by text book I mean actual real world examples, such a chart history would spell out lower lows.

But for now, we are pushing higher as I type, as I suspected we would. $835 is next important resistance level. I will be looking to short around about there.

[wendel]

Why do you think we will go below 750 again?
Sorry for my nooby question. I'm really interested in understanding all those movements.

Thx
W

Look at the charts. Take note of the parabolic rise, the double top, the crashes, followed by the slow recovery (market memory) right up to the $1000 resistance level. Then notice the descending triangle formation from the 6th Jan, until the break down on the 28th Jan.

In 9/10 text book examples, and by text book I mean actual real world examples, such a chart history would spell out lower lows.

But for now, we are pushing higher as I type, as I suspected we would. $835 is next important resistance level. I will be looking to short around about there.

Tyvm for your answer.
Atm it looks like some forces don't want to go lower pumping lots of cash into the market to prevent it from crashing.
Or they are just playing tricks.
Another 1k coins just bought on stamp while I'm typing.

[MatTheCat]

Why do you think we will go below 750 again?
Sorry for my nooby question. I'm really interested in understanding all those movements.

Thx
W

Look at the charts. Take note of the parabolic rise, the double top, the crashes, followed by the slow recovery (market memory) right up to the $1000 resistance level. Then notice the descending triangle formation from the 6th Jan, until the break down on the 28th Jan.

In 9/10 text book examples, and by text book I mean actual real world examples, such a chart history would spell out lower lows.

But for now, we are pushing higher as I type, as I suspected we would. $835 is next important resistance level. I will be looking to short around about there.

Tyvm for your answer.
Atm it looks like some forces don't want to go lower pumping lots of cash into the market to prevent it from crashing.
Or they are just playing tricks.
Another 1k coins just bought on stamp while I'm typing.

Yep, so far it is happening like I predicted it would. I don't believe for a minute this is the great public chomping at the bit to pick up bargain $800 Bitcoins. This is rampers at their tricks. Doubt it is a pump n dump attempt though. I reckon it is more like Bitcoin 'supporters' trying to support the price. It is the rampers who will lose out financially here, not Joe Public.

Still a bit annoyed that I never got my long bet in as this would have paid of sweet by now, but when a man gets spooked out of his sleep whenever he is long Bitcoin, perhaps he shouldn't do it until such a point that he is no longer spooked by being long Bitcoin.

[damnek]

does anybody even listen to this?

[MatTheCat]

does anybody even listen to this?

If you listened when I posted it, you could have cashed in on a $25 rise u fkn dickwad.

[seleme]

You see Mat, when you predict long, you make it 

[damnek]

You see Mat, when you predict long, you make it 

lol

[Miz4r]

You see Mat, when you predict long, you make it 

But then he fails to actually go long himself because his buy-in price is too low.

[spiderbrain]

Matt, you went long for a second there, I'm so proud of you!

[MrHindsight]

Based on basic data such as historical price movement and moving averages I've my own 'short term' prediction on:
- February (slightly bullish): could go as high as $850-900
- March (bearish): could go as low as $500
- April (bullish): back to around $900 and we'll remain on that level for a few months.

Just rough estimates, my focus is on larger trends rather than minor (in BTC world) 10% or $20 movements here and there.

Also these estimates are based on a 'no significant news' scenario (either positive or negative). I regard the chance of receiving significant negative news to be high. E.g. Chinese trading halts completely, Chinese exchange goes bust, large selling volume from seized coins or simply a whale-galore.

Disclaimer: I've no speculative-trading track record other than simply investing in BTC, so don't place your bets based on this.

[Dalmar]

Oh wise guru MatTheCat, followed your advice (even though bear). Thanks for the profit. 

[Miz4r]

Maybe a good piece of advice for next time: go long first, and only after you have bought in start a topic saying that the price is going up.

Or vice versa ofcourse when you think the price is going down.

[MatTheCat]

Hehe, I know nothing mr Fawlty.

This is just me having a punt. It's about the limit of my 'day trading' speculation

Actually, bet is off u shady lucker!

As u well know, if BTC goes to $1000, I pay you $100. If it goes to $500, u pay me $50.

Dishonourable contract null n void.

unless u want to bet for equivalent amount in real money. (GBP, USD, EUR)

[fluidjax]

If Mat's rampers hold the price in a channel until we are ready for the next rally, (based on the next chunk of very good news) the bears are screwed.
If they ensure we never get cheaper coins, bears will have no choice but to re buy at a loss.
It really depends on how deep the pockets of these rampers are, and if they are deep, now that they are committed to this course of action, they can't let the price fail and give the bears a chance to avoid their capitulation.
Several million dollars is probably enough to hold this price, they support a level, say $780, and on days like today offload some of those cheaper buys for a little profit. Thus holding the price in a channel. They are probably even making money.

[sgbett]

Hehe, I know nothing mr Fawlty.

This is just me having a punt. It's about the limit of my 'day trading' speculation

Actually, bet is off u shady lucker!

As u well know, if BTC goes to $1000, I pay you $100. If it goes to $500, u pay me $50.

Dishonourable contract null n void.

unless u want to bet for equivalent amount in real money. (GBP, USD, EUR)

Dishonourable!? lol. What's honour got to do with 'owt. I'm not sure you have thought this through fully

Flipping it to a fiat bet is just as 'dishonourable', say we bet $100USD.

If it goes to $500 I have to pay you 0.2BTC
If it goes to $1000 You only have to pay me 0.1BTC

Why not hedge? i.e. if you are worried that you will lose then buy the 0.1BTC now for $80 then even if it went to $10000, you'd still only be down the $80 you paid.

Equally I could sell my 0.1BTC for $80 now then if it went to $500 I could buy back 0.16BTC and only be down 0.4BTC.

Of course I would never get the benefit of any further move past $750 as I expect you would be knocking on my door the instant it hit $749.99 hehe

Still, as I am confident I would not lose I was prepared to accept that!

[sgbett]

UH OH!

[HeliKopterBen]

Hehe, I know nothing mr Fawlty.

This is just me having a punt. It's about the limit of my 'day trading' speculation

Actually, bet is off u shady lucker!

As u well know, if BTC goes to $1000, I pay you $100. If it goes to $500, u pay me $50.

Dishonourable contract null n void.

unless u want to bet for equivalent amount in real money. (GBP, USD, EUR)

In other words, you saw the spike in price and now want to call off the bet.

[MatTheCat]

In other words, you saw the spike in price and now want to call off the bet.

What?

I saw the spike in price that I predicted in this thread, the thread which I started predicting a spike to 825-835 range, which has now happened....

.....and now that my prediction has come to pass, I am running scared, is that what you are saying  

Spastic!

[proudyuan]

mi nombre es proudyuan, i come to post of dos Latin Americas. in dos Latin Americas, much fear was spread by FUD y rumor of China ban on 31-Jan. Now es clear no such bad events will occur, so price rise es happening because average emotion based traders are jumping back in as they see las ship sailing and price rising. es not big whales causing price rise but many small fish swimming together, es good hombres. gracias

[MatTheCat]

UH OH!

Christ on a Bike.

How many times on this descending triangle could a bulltard have drawn these arbitrary trend lines only for them to be broken on bullshit nothing volume only for the market to then sink back down to the $765 support?



And how many times have we breached that all important $765 high volume support and what does it mean 9/10 times when such a scenario arises?

Doesn't mean there isn't going to be upside opportunities and I hope there is upside opportunities because since Bitfinex have stopped allowing orders to be routed through Bitstamp, I have no place that I trust to make short trades, therefore, I am now a part time bull, or rather, a bear looking for bullish opportunities, but I know two things.

I wake up from my sleep when I have long Bitcoin trades on, due to spooked out Bitcoin dreams.

The prevailing technicals are all pointing down the way.