10/21 EMA has crossed! Weekly MACD set to cross up! Full Moon in 7 days!

[MatTheCat]

10/21 EMA has crossed! Weekly MACD set to cross up! Full Moon in 7 days! You think Full Moon is irrelevant? Go and look at the Bitcoin chart history and see what Bitcoin generally does around the time of a Full Moon!

Bitcoin is wildy overextended at the moment, yet their are participants in the market who seem intent to keep Bitcoin supported within the 23% Fib retracement zone from the foot of the $420-$680 rise. Fearing a strong correction, I have been dipping in and out of the market since the $680 top, sometimes winning, but mostly just pissing all over my leg and my shoes. Therefore, I have taken what I have left in my Bitstamp account, turned it into Bitcoin @$660, and transferred it to an offline wallet where I can't do anything rash or stupid first time I see any signs of a negative indicator or divergence on the chart.

I speculate that with the alignment of the above long term indicators, that deep pocketed whales are going to ensure that Bitcoin receives a hefty ramp, perhaps instigating another manic rush into Bitcoin. The history is there. Everyone has seen what has happened 3 times before. When they see it happening again, what kind of gains are going to be in peoples imaginations? $2K? $5K? $10K?

MatTheCat has just went from cautiously bullish (which meant taking profits and trying to catch pull backs and invariably being left chasing the market), to full on bullish. I am a shit trader, so it wouldn't surprise me that now that my patience has broke and I have went long term long at $660, if Bitcoin pulled back to the $580 range where I had my buy-ins lined up, however, longer term, the only way is up here, and up a whole damn lot..............or will I prove to be the ultimate contrarian indicator when I turn bullish?

[blatchcorn]

10/21 EMA has crossed! Weekly MACD set to cross up! Full Moon in 7 days! You think Full Moon is irrelevant? Go and look at the Bitcoin chart history and see what Bitcoin generally does around the time of a Full Moon!

Bitcoin is wildy overextended at the moment, yet their are participants in the market who seem intent to keep Bitcoin supported within the 23% Fib retracement zone from the foot of the $420-$680 rise. Fearing a strong correction, I have been dipping in and out of the market since the $680 top, sometimes winning, but mostly just pissing all over my leg and my shoes. Therefore, I have taken what I have left in my Bitstamp account, turned it into Bitcoin @$660, and transferred it to an offline wallet where I can't do anything rash or stupid first time I see any signs of a negative indicator or divergence on the chart.

I speculate that with the alignment of the above long term indicators, that deep pocketed whales are going to ensure that Bitcoin receives a hefty ramp, perhaps instigating another manic rush into Bitcoin. The history is there. Everyone has seen what has happened 3 times before. When they see it happening again, what kind of gains are going to be in peoples imaginations? $2K? $5K? $10K?

MatTheCat has just went from cautiously bullish (which meant taking profits and trying to catch pull backs and invariably being left chasing the market), to full on bullish. I am a shit trader, so it wouldn't surprise me that now that my patience has broke and I have went long term long at $660, if Bitcoin pulled back to the $580 range where I had my buy-ins lined up, however, longer term, the only way is up here, and up a whole damn lot..............or am I the ultimate contrarian indicator when I turn bullish?

We will either have a big rally soon or a small one that will act as a launch platform for the biggest rally we have ever seen later this year.  Either way, now is not a time to be selling or shorting

[piramida]

I have taken what I have left in my Bitstamp account, turned it into Bitcoin @$660, and transferred it to an offline wallet where I can't do anything rash or stupid first time I see any signs of a negative indicator or divergence on the chart.

Wising up now are you, congratulations. About the thing I did two years ago moved most to the paper wallet to keep it safe from myself.

Leave some 5% on the exchanges though, in case you need to vent...

[N12]

I have taken what I have left in my Bitstamp account, turned it into Bitcoin @$660, and transferred it to an offline wallet where I can't do anything rash or stupid first time I see any signs of a negative indicator or divergence on the chart.

Wising up now are you, congratulations. About the thing I did two years ago moved most to the paper wallet to keep it safe from myself.

Leave some 5% on the exchanges though, in case you need to vent...

This is good advice. If it takes you effort and time to transfer the Bitcoin to the exchange, it's much harder to be guided by emotions.

[sgbett]

10/21 EMA has crossed! Weekly MACD set to cross up! Full Moon in 7 days! You think Full Moon is irrelevant? Go and look at the Bitcoin chart history and see what Bitcoin generally does around the time of a Full Moon!

Bitcoin is wildy overextended at the moment, yet their are participants in the market who seem intent to keep Bitcoin supported within the 23% Fib retracement zone from the foot of the $420-$680 rise. Fearing a strong correction, I have been dipping in and out of the market since the $680 top, sometimes winning, but mostly just pissing all over my leg and my shoes. Therefore, I have taken what I have left in my Bitstamp account, turned it into Bitcoin @$660, and transferred it to an offline wallet where I can't do anything rash or stupid first time I see any signs of a negative indicator or divergence on the chart.

I speculate that with the alignment of the above long term indicators, that deep pocketed whales are going to ensure that Bitcoin receives a hefty ramp, perhaps instigating another manic rush into Bitcoin. The history is there. Everyone has seen what has happened 3 times before. When they see it happening again, what kind of gains are going to be in peoples imaginations? $2K? $5K? $10K?

MatTheCat has just went from cautiously bullish (which meant taking profits and trying to catch pull backs and invariably being left chasing the market), to full on bullish. I am a shit trader, so it wouldn't surprise me that now that my patience has broke and I have went long term long at $660, if Bitcoin pulled back to the $580 range where I had my buy-ins lined up, however, longer term, the only way is up here, and up a whole damn lot..............or will I prove to be the ultimate contrarian indicator when I turn bullish?

I fully approve of this post! Especially moon + weekly EMA cross based TA.

Good luck!

[Miz4r]

Yeah I expected more of a retracement too, good thing I have forbidden myself from trading when Bitcoin is in an uptrend as I wasted lots of time and energy trying to trade during the November rally and only lost coins in the process. I will resume trading when the trend reverses again.

[MatTheCat]

Yeah I expected more of a retracement too, good thing I have forbidden myself from trading when Bitcoin is in an uptrend as I wasted lots of time and energy trying to trade during the November rally and only lost coins in the process. I will resume trading when the trend reverses again.

If you look at the reversal for each leg up, they have always stopped around the 23% Fib retracement zone and hit it within the first 2-3 15 minute candles almost. I am sure a bigger 30%-50% retracement will come, but when? Been waiting on it since the mid/upper $500s!

A good strategy for trading Bitcoin would be to move your buy-ins up in line with a 23% retracement as measured from bottom ($420) to the top. If someone has been doing that in the past 2 weeks, then they would have done very well for themselves, but having said that, now that this strategy has become obvious, it probably won't work that way anymore.

Shorting Bitcoin right now would be suicidal, unless you happen to be an insider of the whale entities who are deciding when and where to let pressure out the market. Only then could any trader expect to capitalise on any of the flash crashes which are mostly bottomed out within 30 minutes.

[MOB]

Perhaps all of the margin kiddies are still sleeping (6:28AM PST), but bitfinex swap offers are staying low and inactive.  I would have thought they would be surging up along with this break past that 640 barrier.

I am right there with you Mat!

[alexeft]

10/21 EMA has crossed! Weekly MACD set to cross up! Full Moon in 7 days! You think Full Moon is irrelevant? Go and look at the Bitcoin chart history and see what Bitcoin generally does around the time of a Full Moon!

Bitcoin is wildy overextended at the moment, yet their are participants in the market who seem intent to keep Bitcoin supported within the 23% Fib retracement zone from the foot of the $420-$680 rise. Fearing a strong correction, I have been dipping in and out of the market since the $680 top, sometimes winning, but mostly just pissing all over my leg and my shoes. Therefore, I have taken what I have left in my Bitstamp account, turned it into Bitcoin @$660, and transferred it to an offline wallet where I can't do anything rash or stupid first time I see any signs of a negative indicator or divergence on the chart.

I speculate that with the alignment of the above long term indicators, that deep pocketed whales are going to ensure that Bitcoin receives a hefty ramp, perhaps instigating another manic rush into Bitcoin. The history is there. Everyone has seen what has happened 3 times before. When they see it happening again, what kind of gains are going to be in peoples imaginations? $2K? $5K? $10K?

MatTheCat has just went from cautiously bullish (which meant taking profits and trying to catch pull backs and invariably being left chasing the market), to full on bullish. I am a shit trader, so it wouldn't surprise me that now that my patience has broke and I have went long term long at $660, if Bitcoin pulled back to the $580 range where I had my buy-ins lined up, however, longer term, the only way is up here, and up a whole damn lot..............or will I prove to be the ultimate contrarian indicator when I turn bullish?

I see gains right there in your post. You decided that hodl is the best strategy  .

[oda.krell]

10/21 EMA has crossed! Weekly MACD set to cross up! Full Moon in 7 days! You think Full Moon is irrelevant? Go and look at the Bitcoin chart history and see what Bitcoin generally does around the time of a Full Moon!

Bitcoin is wildy overextended at the moment, yet their are participants in the market who seem intent to keep Bitcoin supported within the 23% Fib retracement zone from the foot of the $420-$680 rise. Fearing a strong correction, I have been dipping in and out of the market since the $680 top, sometimes winning, but mostly just pissing all over my leg and my shoes. Therefore, I have taken what I have left in my Bitstamp account, turned it into Bitcoin @$660, and transferred it to an offline wallet where I can't do anything rash or stupid first time I see any signs of a negative indicator or divergence on the chart.

I speculate that with the alignment of the above long term indicators, that deep pocketed whales are going to ensure that Bitcoin receives a hefty ramp, perhaps instigating another manic rush into Bitcoin. The history is there. Everyone has seen what has happened 3 times before. When they see it happening again, what kind of gains are going to be in peoples imaginations? $2K? $5K? $10K?

MatTheCat has just went from cautiously bullish (which meant taking profits and trying to catch pull backs and invariably being left chasing the market), to full on bullish. I am a shit trader, so it wouldn't surprise me that now that my patience has broke and I have went long term long at $660, if Bitcoin pulled back to the $580 range where I had my buy-ins lined up, however, longer term, the only way is up here, and up a whole damn lot..............or will I prove to be the ultimate contrarian indicator when I turn bullish?

The last bear (kinda) has turned bull... This can only mean one thing :/

[spiderbrain]

I was super bullish, but now MtC has turned bullish I am more afraid than I was expecting, despite TA, fundamentals and a good degree of base nieve optimism. Matt, I hope your bad luck has switched, because for the first time I am agreeing with you, god help me.

[Dalmar]

MatTheCat will probably lose his shirt and sell out in the pre-bubble shake out (a la Silk Road). I foresee a China related bear trap soonish.

[oda.krell]

Snark aside though: good choice, I'd say, especially if you think your impulses get in your way.

I'm planning to continue trading, but I'm extremely cautious, if in doubt, erring on the side of being long. I briefly went short briefly after the first 680 peak, but bought back in again a day and a half later net neutral because I didn't feel comfortable anymore betting on another drop.

Which might still come, by the way. Retesting the first retracement level at ~530 is still a possibility, but that's more a thought in the back of my mind rather than a likely scenario right now.

[djangocoin]

Am agreeing with matthecat for once... 

[bitcoinsrus]

Finally nice to hear you turned around (completely). You made some great points (cross overs etc) Lets see what happens.

[Ultros]

My face when I realized the OP was actually MatTheCat:

[seleme]

I have been dipping in and out of the market since the $680 top, sometimes winning, but mostly just pissing all over my leg and my shoes.

In same shoes really, should have just buy and hold.

[Wexlike]

i bought in at 378$,438$,450$ and 495$ - as much as i could. this will be my first bitcoin rally that i experience from the beginning. i m so excited ! it s nice to see mat turning into a bull

[MOB]

We need some whale blubber to light this fire!

[bitrider]

Matt you are one entertaining guy. I do appreciate your honesty with how bad a trader you are - you've never hid your constant failures from us. The truth is most everybody here is a shitty trader - myself included. It just takes some of us longer and more losses (lesson fees) to admit it to ourselves (it took me many, many years and lots of $  ).

It does make me a little nervous that you are on board this train, but I think btc fundamentals and technicals are strong enough to handle even that. 
Good luck, brother...