Topic: Beginning of the trend reversal (Read 2948 times)

In stock market, 20% is an indication for trade reversal, but in bitcoin trading, maybe 50% or higher is required.

I am not into the daily trading, but having the longer term perspective. From my point of view this recent action is still just a correction, not a trend reversal yet. It takes at least a 20% move to start talking about trend reversals. For now I see the zone $350-400 as a solid support.

Those who are waiting for the price to go down currently, will end up buying at much higher prices because they were waiting for something that doesn't happen. Buy now and enjoy.

Yes it seems nothing gonna pull the price to below 400 within some weeks. better buy at 400 if you see that and hold till 450 or 440 to sell off, nice oppurtunity for day traders.

When the cost of short term trading is lifted from $250 to $400, the price can go up to over $500 easier.

Good luck with your trading Matt

Volatility?

Volatility like this: https://www.tradingview.com/x/7SrPR03D/ ?

Or how about like this:




See, since I decided to actually learn and seek TA advice from people who actually know what the fuck they were talking about, playing this market is becoming increasingly easier, just as it is becoming increasingly easier to spot perpetrators of emotionally based opinion who align any TA they may produce with their personal fantasies of avarice and/or fear (the majority on here), with those who actually have an astute eye for the market (not so many on here, although they do exist).

With my mind set on being a trader of BTC, other than a hapless retard holder, I welcome volatility, but it just so happens, that I think the next major stint of volatility is going to be downside volatilty, just as I think that great big Fork Chart of yours is a croc of shit. I may be wrong, I may even change my mind on what BTC's next major move is. Note that I am currently long BTC, but have already took profits on 50% of my position, and missed on a rebuy lower down the chart by €0.19. For the time being however, whilst I realise that the markets can do anything they want, and that TA simply provides a means of identify probabilities of the future market course, market structure and mom indicators on the 1 day chart speaks for themselves, and they are telling me 'BIG FUCKING CORRECTION PENDING MOTHER FUCKER!'

Mate this is bitcoin get used to it. If you can't handle the volitility go and trade forex or something.

And when ING Bank started this thread, BTC was $460. From the top to present, BTC is down more than 10%. Whether you call that proof that he was right regarding 'trend reversal' or not depends on your time frame. I agree, that on a primary time frame, that Bitcoin is a bull, but Bitcoin could hit $300, and still be considered in a primary bull move. Fuck being on the wrong side of a $470 - $400 move (which we have already seen) and fuck being on the wrong end of a move down to $300. I don't know if BTC will correct that far down, but the $350-$370 area, is looking very likely.

btw...I doubt you are going to 'win friends and influence people' in the Bitcoin trading community with your 'Fork Analysis'.

I dont see much evidence of trend reversal. The price is $420 when only a couple of months ago it was half of that!

Why is your username ING bank ?

If you don't call a correction of over 10%, a substantial downside move then there is no helping you.

P.S. And there is a high probability of more brutal selling pressure to come, pending this consolidation period, which may or may not creep back up as high as $450. If it BTC gets as high as $450, then Pro Traders will start shorting the fuck out of it....that would be like a short RLZ, within a short RLZ of a higher timeframe, within yet another short RLZ of a yet higher timeframe, and then there is that great big fucking dirty bear M visible on 1 day and 4hr charts. $450 BTC would be such a no-brainer short opportunity, that it probs won't happen (although I hope it does!).

The trend reversal i progress is shaken out a lot of weak hands.
When we reach 400 USD, 99% will be out so we could focus on buying bitcoin again and enjoy a 500 usd price.

Correct on what, let's wait to the end of the week, I think it still has a chance of reaching $500. It will come back down after that of course. The weekends are always different. The drop will not continue on Monday and the price will be again around $450. After that I think there would be a quick spike coming that will take the price to $470-480 if not more.

LOL...

The OP was 100% correct, and he is still getting slated for posting a 100% proven correct call.

As for evidence....I have read all manner of utter fucking bullshit on this forum, about the CNY gaining ground against dollar, hence fall, people withdrawing funds for X-Mas, hence fall, there not being 'any reason at all' why Bitcoin should have went down, and therefore the fall was whale manipulation. The latter reason might be closer to the truth, but only if you also accept that there was no 'reason' for Bitcoin to rise up way past $400, except for whale manipulation.

A trader guy I subscribe to (https://twitter.com/CRInvestor), warned us about the BTC 3 Months Futures Contract Expiration on the 25th. He suggested that Bitcoin was being brought up high, and parked in a range up top, until the contract expiration date, after which we could expect a lot of selling pressure to ensue. (https://bitcointalksearch.org/topic/m.13321768). Seems that he was 100% correct. So, there is your 'reason'.

Evidence is the price. Maybe now you can see this for yourself? It all started at December 20th. Not everyone is fast to catch on.

The reversal trend was reversed again.

But like KenR stead, don't let a minor up and down let you believe something is changed. This market is different then other markets and not in a good way.
There are some very active manipulators at work now.

For your information,we started out with $5 and today is $400+ what makes you even think its reversing.By the small ups and downs doesn't mean its not going to come up again.This is the part of the market ,get used to it.

Another waste of time thread. OK trend reversing. On what evidence. OP has nothing. NOTHING  

Anywhere near $500 and a lot will be profit taking

getting above $500 and maintaining that level is gonna be tough

Today it went back to $450, that's just the way bitcoin works. With ups and downs, you can't bring something up without it going down first.
I'm not buying nor selling right now, who knows if bitcoin will reach $500 these days to come.