Bitcoin Bottomed out ? TA analysis. - page 4.

Wind_FURY

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Quote from: mikeywith on February 24, 2019, 08:10:09 PM

Quote from: toknormal on February 24, 2019, 04:52:39 AM

That's practically the bottom given that the top was $19,500. So you sold at the bottom and bought at the bottom ? Nice ! Wink

5,700$ is the top now, you can only dream to be able to sell it for that price, and based on your comment i can only assume that you don't know shit about trading, shorting btc at 5700$ and taking profit at 3k area is a ton of profit, btc fell almost 50% from that level, if i was to re-buy now i would have 1.5BTC for each 1 BTC sold at 5.7k , let alone buying at 3.2k. if you think that both 5700$ and 3200$ are bottoms then you need a brain check. Wink

Ok, you know a lot of shit about trading. But what would be more profitable if I want to make some money from the Bitcoin market today, your active day trading strategy, or the HODL? Cool

mikeywith

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Quote from: toknormal on February 24, 2019, 04:52:39 AM

That's practically the bottom given that the top was $19,500. So you sold at the bottom and bought at the bottom ? Nice ! Wink

5,700$ is the top now, you can only dream to be able to sell it for that price, and based on your comment i can only assume that you don't know shit about trading, shorting btc at 5700$ and taking profit at 3k area is a ton of profit, btc fell almost 50% from that level, if i was to re-buy now i would have 1.5BTC for each 1 BTC sold at 5.7k , let alone buying at 3.2k. if you think that both 5700$ and 3200$ are bottoms then you need a brain check. Wink

toknormal

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Quote from: mikeywith on February 23, 2019, 09:01:31 PM

Quote from: toknormal on February 23, 2019, 05:19:37 PM

The question is, did you sell your entire stash and re-buy it at the bottom ? That would be the measure of "faith in TA" Wink

sold everything at the break down from 5700$

That's practically the bottom given that the top was $19,500. So you sold at the bottom and bought at the bottom ? Nice ! Wink

exstasie

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Quote from: jozymens7 on February 24, 2019, 03:09:14 AM

Many TAs said the market has not bottomed out yet. The same way happened when the bear market started so IMO, there are no perfect predictions about bullish or bear trends. The trends come at their own comfortable time and sometimes, the activities of some of the TAs kesps the market sinking.

We really don't know if the market bottomed out yet or not. Maybe, maybe not. Top callers and bottom callers get slaughtered by the market, always. Good TA always waits for confirmation.

So the bottom may very well be in, but wise traders will continue betting on the long term bear trend until it's confirmed over. It's the only sensible way to approach the market as a trader. That means selling into the current rally with the expectation of revisiting the $3,000s or lower.

shesheboy

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Quote from: sirohige on February 20, 2019, 03:12:00 AM

Quote from: Capt00 on February 16, 2019, 11:46:17 PM

Why are you guys waiting for the bitcoin to go down? If you can actually go now and invest, learn how to trade and that's enough. Blockchain is booming and these days you will see that it will grow. It seems pretty good TA but I didn't convince that there's a bottomed and I think we already reached that. Good job for the analysis and it is very informative, as well.

many people wait for the price of bitcoin to fall because they want to buy at a cheap price, but for now it will never happen again because in 2020 there will be a halving day event that might make the price to rise very expensive.

Anything can possibly happen because cryptocurrency are still volatile . 2020 is still a long year and no one can guarantee that halving can improve the growth of the coins . its hard to say this but the truth is that there is no bottom price limit for all the cryptos . they can all drop until they hit zero depending on the mood on the investors and hodlers .

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Many TAs said the market has not bottomed out yet. The same way happened when the bear market started so IMO, there are no perfect predictions about bullish or bear trends. The trends come at their own comfortable time and sometimes, the activities of some of the TAs kesps the market sinking.

mikeywith

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Quote from: toknormal on February 23, 2019, 05:19:37 PM

The question is, did you sell your entire stash and re-buy it at the bottom ? That would be the measure of "faith in TA" Wink

sold everything at the break down from 5700$ , but did i go all in at the exact bottom? indeed not, this is not how trading work, you short and long bitcoin to generate more btc whenever the chance presents itself, i do not care where the bottom is, it's irrelevant, i would buy more btc if we go above 6k than if we head to 3k , for a hodler, it's stupid , for a trader it makes sense that you follow the trend. these are two different things that you shouldn't be mixing together.

STT

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I dont think he should have to sell absolutely everything, that sounds like an overally risky gamble based strategy. From what I've seen people only have to be right in general to do very well, trying to time the exact top and bottom is a bit of a fallacy. The reason for that might be that volume is not highest at the peak price, it thins out which is why it looks sharp on the graph as there is not enough buyers there to keep the price.
Once its spiked up then others following recognise and tend to join into the sell, it gathers momentum and so on. On the more positive side, that can happen with the bottom where its not really recognised by many and quite a few are exhausted by the move and got their heads on the desks or hands as literally they gave up.

Its ironic I guess, actually trying to be one of the few at the top or bottom is not a sensible target and I try to learn or recognise that joining into a trend is actually healthy. Forming good instincts is all I hope for really, as I think this will make me far better off then that lucky gamble win scenario imo

toknormal

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Quote from: mikeywith on December 23, 2018, 09:45:15 AM

with no bragging what so ever, i managed to sell before the collapse, re-bought very close to the last low, thanks to TA

Just about everybody sold something "at the top" and bought something "a the bottom".

The question is, did you sell your entire stash and re-buy it at the bottom ? That would be the measure of "faith in TA" Wink

mikeywith

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Quote from: michellee on February 20, 2019, 04:58:59 AM

I think they can wait for a while to buy bitcoin because I think after the price makes the high price, it will go down for a while, so that is the best time to them to buy bitcoin.

this is the likely scenario, what most people don't understand about market shifts is that it has to be slow and it takes time, so the moment they see bitcoin rising 300$ they think this the cheapest it will be, they jump in , prices drop, they sell for loss, rinse and repeat.

or the worse scenario is, they buy now, a few months later, price is back at where they bough or lower, they give up, sell , and then bull run starts.

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Quote from: sirohige on February 20, 2019, 03:12:00 AM

Quote from: Capt00 on February 16, 2019, 11:46:17 PM

Why are you guys waiting for the bitcoin to go down? If you can actually go now and invest, learn how to trade and that's enough. Blockchain is booming and these days you will see that it will grow. It seems pretty good TA but I didn't convince that there's a bottomed and I think we already reached that. Good job for the analysis and it is very informative, as well.

many people wait for the price of bitcoin to fall because they want to buy at a cheap price, but for now it will never happen again because in 2020 there will be a halving day event that might make the price to rise very expensive.

I think they can wait for a while to buy bitcoin because I think after the price makes the high price, it will go down for a while, so that is the best time to them to buy bitcoin. But if they miss that time, then I don't know if they will see a low price again except if there is a flash dump that might happen in anytime.

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Quote from: sirohige on February 20, 2019, 03:12:00 AM

Quote from: Capt00 on February 16, 2019, 11:46:17 PM

Why are you guys waiting for the bitcoin to go down? If you can actually go now and invest, learn how to trade and that's enough. Blockchain is booming and these days you will see that it will grow. It seems pretty good TA but I didn't convince that there's a bottomed and I think we already reached that. Good job for the analysis and it is very informative, as well.

many people wait for the price of bitcoin to fall because they want to buy at a cheap price, but for now it will never happen again because in 2020 there will be a halving day event that might make the price to rise very expensive.

Trying to wait for the bottom will only caused a delayed for your investment to prosper, starting to buy and wait will results to a good position after
some time, as many things can happen after this long bearish trend has been replaced by the new bull market, preparing your mindset to take the
jumped and risk for better results.

sirohige

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Quote from: Capt00 on February 16, 2019, 11:46:17 PM

Why are you guys waiting for the bitcoin to go down? If you can actually go now and invest, learn how to trade and that's enough. Blockchain is booming and these days you will see that it will grow. It seems pretty good TA but I didn't convince that there's a bottomed and I think we already reached that. Good job for the analysis and it is very informative, as well.

many people wait for the price of bitcoin to fall because they want to buy at a cheap price, but for now it will never happen again because in 2020 there will be a halving day event that might make the price to rise very expensive.

Idrisu

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STT

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It cant be called a suckers rally when its risen over 10% like this, thats too much to act like it was just a random blip that reversed back down immediately. Plenty times that will happen but this time its got some legs.
Easy way to avoid that possibility or feeling is not to hold all from bottom to top and always take some profits. Ideally the profits should exceed the original stake so you no longer able to lose anything, keep examining but I think this move is a readjustment of the range heading upto 4500 as a medium term top and then 6000 is just a maybe as a final target for this overall move. Sometimes there is secondary booster rockets to the rally and its acts on some news or buying most werent that aware of but I'm not sure of the news exactly to match. Most of the time it has to go round the block a few times

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Quote from: Capt00 on February 16, 2019, 11:46:17 PM

Why are you guys waiting for the bitcoin to go down? If you can actually go now and invest, learn how to trade and that's enough. Blockchain is booming and these days you will see that it will grow. It seems pretty good TA but I didn't convince that there's a bottomed and I think we already reached that. Good job for the analysis and it is very informative, as well.

Although everyone know that bitcoin is already trading in its lowest price and there are very low chances that bitcoin price will come down any more, but still they feel reluctant for investment and waiting for some more time in fact they are waiting some good news which can surely boost the bitcoin price and I am sure that once bitcoin price will start increasing people will surely join the market and which will give a very good support to the market.

I can see the bitcoin price to bounce back to $10k in next few months.

figmentofmyass

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Quote from: fabiorem on February 18, 2019, 10:02:52 AM

Are we out already? I see the price is going to 4k.

Or is it another suckers rally?

sucker's rally. looks to me like wave C in a typical ABC pattern.

there's still lots of upside left though. we've only just seen the first leg up and will probably pull back soon. anyone looking to exit shorts or open longs should seriously think about doing so on the next pullback.

e-coinomist

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Quote from: STT on February 17, 2019, 05:37:58 PM

Not even about psychology to me, to me it is maths because its about probability not certainties. If you know a bit of maths you could possibly improve your chances on some fairground games, with that understanding. This possibility for TA has been there for centuries if we talk about the commodity futures, this I think predates stock trading.

Closer approaching numbers than opinions, so more math than psychology. Fibonacci was no psychologist, but a mathematician. You can always paint from scratch coming to reproduceable conclusions.

However. What about these Fibonacci Tools that I seldom see used for BTC? What about Fibonacci Arcs? What makes me wounder the most ist why are Fibonacci Arcs never shown anywhere inside this forum.
The situation we got today equals an impact crater surface so how to apply an Arc for this short term recovery?

My mood: Still bearish. Just a spring season recovery seems possible. Overall, that's fundamental analysis ... miners cannot sell below production costs, so have to hodl. This situation cannot last forever.

fabiorem

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Are we out already? I see the price is going to 4k.

Or is it another suckers rally?

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Quote from: Vaskiy on February 18, 2019, 05:41:16 AM

Bitcoin has bottomed the value, and now the travel towards the top has begun. All have been sitting tight for that for over a year now man. It might have officially bottomed out or it might at present take a dive, it'll be hard to know even with the most productive, I've become sick of the btc dramatization and chose to simply give it a chance to move where it needs. I'll simply be adaptable lol.

Looking at bitcoin and eth now, i think the bottomed of the market was already hit and its time now to slowly recover from a big loss. This kind of dramatic trend traumatized many newbies, i hope they will comeback and make good investment.

Topic: Bitcoin Bottomed out ? TA analysis. - page 4. (Read 1763 times)