open your eyes

[TERA]

I cannot believe I am still hearing people vigorously advocating taking a long position right now and that this is the bottom because their perception of 'previous cycles'.

A blind man could read this chart and tell you that it's not a good time to buy. It's more like... time to gtfo, take a 3 month vacation, and maybe put an alert in with a charting service to alert you when the 1W emas or 1W MACD has crossed back up. Weekly emas have only ever crossed down once in the history of bitcoin, in 2011. All you have to do is open your eyes and see.

All you have to do is stop being deluded with your thoughts of how bitcoin is the holy grail and so great that it is impervious to downtrends and long drawn out bear markets. Even the strongest stocks in the stock market with the best growth fundamentals have these types of bear markets when the economy gets bad and there is trouble overseas. Stop being deluded with logically flawed thoughts and chart readings and log lines of how you're entitled to a 'cycle' with a rally every 9 months. You think you can pick the bottom based on "sentiment" on forums and a time position within a "cycle". This is all based only on infantile pattern recognition and bad math, and people seeing only what they want to see on charts but failing to recognize divergences. One such obvious divergence is the RSI divergence on the weekly chart which indicates that the uptrend with 9 month cycles is over.

Also, stop thinking that "wall street" is suddenly going to "move in" to save a bunch of lucky tech kids and turn them into billionaires. It's like you have some sense of entitlement. "I bought 50,000 bitcoins before bitcoin was cool. Now I am entitled to be a billionaire. It's time for my scheduled 9 month rally. I want it now. Where is my train?" It's not coming... Just open your eyes and look at the weekly chart. The chart tells all. Trade the chart, not the news and what traders are talking about on forums.

[Walsoraj]

I refuse to acknowledge any chart that does not feature hand drawn dinosaurs.

[aminorex]

Deeply sorry for your personal bitterness and frustration.

I will continue to accumulate bitcoin at the most rapid feasible pace.

If I had no drawdown tolerance, I would not be buying bitcoin.

The more you warn of the folly of buying now, the more convinced I become.

[dropt]

Why are you so emotionally invested in this?  Let people sink or swim, no one's going to say "Oh thank-you, oh wise TERA.  Thank-you for showing me the light that I cannot find on my own".

Let it go.

[fonzie]

Thank you TERA!, for providin solid TA over the last months!

[TeeBone]

C'mon bagholders sell your stash, you'll get in much cheaper. Pay no mind to the bulltards who got you in this deep shit  

[Walsoraj]

Why are you so emotionally invested in this?  Let people sink or swim, no one's going to say "Oh thank-you, oh wise TERA.  Thank-you for showing me the light that I cannot find on my own".

Let it go.

Raw emotion propelled us to new heights. It's only fitting that the same force should bring us crashing down.

[adamstgBit]

everyone on this sub forum is trying to convince everyone else to sell... hmmm

[dropt]

Raw emotion propelled us to new heights. It's only fitting that the same force should bring us crashing down.

Isn't it?  Sometimes I sit here and wonder how much of a self-fulfilling prophecy this subforum is.

[dropt]

everyone on this sub forum is trying to convince everyone else to sell... hmmm

I miss the days when you were permabull on 8$.  Better times then.

[damiano]

TERA is right, but 3 months? not sure bout that, but we will see on that.

[TERA]

Why are you so emotionally invested in this?  Let people sink or swim, no one's going to say "Oh thank-you, oh wise TERA.  Thank-you for showing me the light that I cannot find on my own".

Let it go.

When I see irrational statements, I am compelled to refute them. Rather than constantly refuting the same thing in 100 places, eventually I start a thread and give it an 'emotional' spin so hopefully i can catch attention draw all of the discussion here and do it in one place to solve the debate or spread the idea once and for all. I guess it's a futile effort though.

[aminorex]

Why are you so emotionally invested in this?  Let people sink or swim, no one's going to say "Oh thank-you, oh wise TERA.  Thank-you for showing me the light that I cannot find on my own".

Let it go.

When I see irrational statements, I am compelled to refute them. Rather than constantly refuting the same thing in 100 places, eventually I start a thread and give it an 'emotional' spin so hopefully i can catch attention draw all of the discussion here and do it in one place to solve the debate once and for all. I guess it's a futile effort though.

How can your "emotional spin" possibly improve rationality?  What, in your post, had the logical or factual basis to form a refutation of anything?  I'm not seeing it.

[dropt]

When I see irrational statements, I am compelled to refute them. Rather than constantly refuting the same thing in 100 places, eventually I start a thread and give it an 'emotional' spin so hopefully i can catch attention draw all of the discussion here and do it in one place to solve the debate once and for all. I guess it's a futile effort though.

Why? This place is a disaster full of trolls and people screwing noobs to play into their hands.

The people who actually want to talk TA and have meaningful discussion should really start their own self-moderated threads and keeps the idiots and trolls out.  Simple as that.  The fact the Blitz has no intention of keeping this place in any sort of order coupled with Theymos (?) removing the Newbie Jail has sent this whole place in a downwards spiral.  No amount of rational thought or logically structured argument is going to win against the trolls and book talkers.  

[Edward50]

I'm also a big bitcoin bear.

I don't look at charts but following the price and volume of bitcoin sold it is looking really bad at the moment.

Bitcoin is ready to take a fall below $400 soon. Buying demand has all but dried up. Every rally has failed. All the rallies are stopped by people dumping.

A lot of people want to GTFO, as Terra would put it. They are just doing it in the rallies to either get a better price or not to push the price down even further.

The forum is full of people trying to find hope in a higher price, like the Chinese going to the Hong Kong Exchange.

To me it all looks like one big Ponzi scheme and everybody is looking for ways to how it will continue.

My advice would also be to GTFO right now. If you want to buy in later than do so at a more sustainable level.

[Ibian]

The upcoming Blood Moon is a clear bullish sign due to the confirmed fact that it turns otherwise perfectly sensible traders into weresharks. Only a few days left to go!

[TERA]

Thank you TERA!, for providin solid TA over the last months!

My TA hasn't always been perfect. I am off on a lot of targets, have posted charts with cycles and log lines, was a bull once, and even posted pictures of trains.

[chriswilmer]

*shrugs*

I just think that Bitcoin is enormously undervalued and that awareness is spreading very quickly. I think the "ticking bomb" model best describes the price of Bitcoin (in its early years)... it's very quiet and then a large investment dramatically moves the price upwards.

[iluvpie60]

I cannot believe I am still hearing people vigorously advocating taking a long position right now and that this is the bottom because their perception of 'previous cycles'.

A blind man could read this chart and tell you that it's not a good time to buy. It's more like... time to gtfo, take a 3 month vacation, and maybe put an alert in with a charting service to alert you when the 1W emas or 1W MACD has crossed back up. Weekly emas have only ever crossed down once in the history of bitcoin, in 2011. All you have to do is open your eyes and see.

All you have to do is stop being deluded with your thoughts of how bitcoin is the holy grail and so great that it is impervious to downtrends and long drawn out bear markets. Even the strongest stocks in the stock market with the best growth fundamentals have these types of bear markets when the economy gets bad and there is trouble overseas. Stop being deluded with logically flawed thoughts and chart readings and log lines of how you're entitled to a 'cycle' with a rally every 9 months. You think you can pick the bottom based on "sentiment" on forums and a time position within a "cycle". This is all based only on infantile pattern recognition and bad math, and people seeing only what they want to see on charts but failing to recognize divergences. One such obvious divergence is the RSI divergence on the weekly chart which indicates that the uptrend with 9 month cycles is over.

Also, stop thinking that "wall street" is suddenly going to "move in" to save a bunch of lucky tech kids and turn them into billionaires. It's like you have some sense of entitlement. "I bought 50,000 bitcoins before bitcoin was cool. Now I am entitled to be a billionaire. It's time for my scheduled 9 month rally. I want it now. Where is my train?" It's not coming... Just open your eyes and look at the weekly chart. The chart tells all. Trade the chart, not the news and what traders are talking about on forums.

But But BUTTTT.

History = causation! <- idiots say that a lot.

In fact, History != causation.

Good to see someone with some sense.

[Bit_Happy]

I cannot believe I am still hearing people vigorously advocating taking a long position right now....

BTC is down ~67% and you "cannot believe" smart money is buying? (and some dumb money too)
If it goes lower, buy even more.

Most important:
By the time your charts tell you to buy, BTC will already be up ~33% (or more) from the bottom.