Topic: Don't get your asses handed to you BTC n00bs! This is a Bear. (Read 2402 times)

Check out the volume on that chart!

To be honest there's no point in trading. Unless you have a genuine advantage you will be up 6 days and then in the 7th you WILL lose AT LEAST everything from days 1-6.  (and don't be stupid enough to return after day 7 thinking you can still win because of days 1-6).

Believe me don't bother wasting the first 6 days of your life. (that could be weeks/months/years). Unless you are bill gates big manipulator or an advanced mathematician, you cannot win.

Any of these guys on forums who say they use "strategies" are either just lying bastards who want your cash or they haven't yet have day 7 in their trading "career".

If you really are still interested in trading and can't get away from it then start an exchange. The more leverage you offer the more suckers you will bring in and the more money you will make. (the only thing you can say about offering more leverage is there will always be an idiot out there who will deposit '000s of dollars if you offer more leverage than the existing exchange).

My advice for you guys: Do something else with your life. This "speculation", "trading" is not investing. It is nothing better than professional roulette. And at least in a casino you get to have fun through meeting people.

The problem is that yes you can grind out a little money here and there, but you can lose a years worth of trading in one rip your face off rally.  With halving approaching I am expecting many more wild spikes that will absolutely kill shorts. 

I could see another test launch in January - February breaking all of the supports, resistance, rsi, Bollinger bands, and all that shit.

Don't get me wrong, there is money to be made off of TA, even with bitcoin but I'm telling the real money will be made with HODL.

It's a trap!

It is hazardous and dangerous for those who don't know what they are doing, which most certainly described me until relatively recently and somehow, actually describes the majority of people who invest....which is pretty mad in itself, because after I have had my arse handed to me a good few times, the penny drops that either I get the fuck away from trading, or, I actually learn how to trade.

I have subscribed to a small trading community, and there are guys on there who consistently clean up, Forex, Stocks, and especially Cryptos, so those who say that TA don't apply to Bitcoin, need to wake the fuck up. I am far from 'expert', but even applying the few setups, rules, principles, etc that I have thus far learned, my wins are easily outweighing my losses, and performance is improving all the time.......and on that note...if/when Bitcoin gets to $450, I will most likely be looking to short the fuck out of it.

Here is a Gann analysis done on 1 Day Huobi chart, which perhaps demonstrates the futility of those who would like to deny that this market could possibly correct further:

https://www.tradingview.com/x/mBGWwzuj/

I mean, come on folks, get the rose tinted BTC spectacles off! Going by past market behaviour in any market you care to name, what is the 80% likely outcome here?


I like a correction down to around the 2400 CNY area (about $340).

It's a prediction, it doesn't matter if correct or not.


Has a bit of a truth in it, but in reality capital is flowing unto the BlockChain tech, which is in a way is directly related to BTCBTCBTC.

I'd say hold, 2016 should be the year for BTCBTCBTC

Totally wrong prediction. Do more research

if you had sold a lot of coins from 500-1200 and then bought back <300 and then sold again at >450
you wouldnt think "Trading bitcoin is fucking silly"

 

but i do agree catching those ups and downs is hard and dangerous,  everyone should have long term holdings which are at least half of your trading satch.

i wouldn't sell ALL my coins even if we had a parabolic rise to 32,000 in 2 years time. half sure, maybe more... probably more. and every single one of these coins would be sold with intent to buy back of course.

point is trading bitcoin is fun and lucrative, if your sitting on XXX.xxBTC from 2012, why not play buy and sell with XX.xx coins, worst that will happen is you'll get dirty fiat out of it. 

LOL, you're retarded.  You're going to lose a lot of money

Trading bitcoin is fucking silly in my opinion.  Trying to scarf up peanuts in a small super hard to predict market.  The trade for BTC in my opinion is LONG ONLY.  Shorting is way too dangerous with small market cap and bitcoins tendency to rage higher uncontrollably at a moments notice.

Long is the only way to go make real money here.  Bitcoin is a once in a generation investment opportunity.  It has 10000X possibility.  You guys all know it.  Don't fuck up and lose your ass trying to make $10 per coin short when this rocket takes off.,

Way to stressful and hazardous to your health and wallet to try to game every move.

Nah, I call bull 

You realize bitcoins fundamentals are utterly shit right?

It isn't anonymous.
It doesn't scale.
It's mostly used for criminal activities.
It's no longer being  actively developed.
Big capital is no longer flowing into bitcoin, big companies realize it has no future.

Fundamentals are much more powerful than charts/TA and the low supply of Bitcoins will eventually lead to a massive rally.
This is a time to buy not sell.

Indeed.

Trend since Jan 2014 has been up...however, I do notice a little blip on the BTC chart, in the form of a FUCKING RAGING $500 - $300 CORRECTION IN EARLY NOV 2015!!!

If you think it is cool to hodl through shit like that, then 'happy hodling'!

Trend is your friend, correct.  The trend since January is up.  Short term there may be some losses, but shorting this close to halving could be disastrous.  Good luck!!!

i have to agree with Mat, this is a rather obvious sell signal, i think the only question is how low will it go, and how long it will stay low.
I'm thinking 390-360 is a buy and > 400 is a sell, for now anyway...
I wouldn't be surprised to see 333$ again, my lines say 333$ is the floor of this bull trend, but i won't hold my breath waiting to hit the floor. ( i fully expect the trend to hold )

i'll also point out a bearish pattern in the short term.

my guess is we're ready for another drop right about now.


and here is how i come to 333$ for my floor.

haha...

"confirmed"

Look at the even longer term picture and you can clearly see a new bull market has started.

i like how are you sure that the 450 is the top, well then the bottom can be easily be 400, so if we remain stuck there for a while, then fine, that value will be more rock solid in the future

Soon as you think you know what the fuck is going on with a market is about the time the market kicks your ass. Like I said, I wish you luck trading the next few months.

Ok...but I made a week's wage shorting that 'blip' (15% correction!), and have just received an 'employee of the month' bonus payment on a long trade on this consolidation formation, which I have just exited.

It feels good, finally getting to grips with what the fuck is going on in this market.....but that's 'edumacation' for ya.

Yes I think we will be stuck in the $400 level for a few weeks, if rate increases then good for everyone who still holds their coins.
Not sure if it's still possible to break at $470 for this month since we have a few days left.
Looking at last years rate, I hope it will be same, $400 level works fine with me.

$450 to a brief low of $407 then right back to $420s is not a crash, not even remotely so. It's a minor dip, and if you sold everything in the $420s waiting for $3xx or $2xx like I said, glwt. 
It's holding strong above $400, get some perspective - this is hugely bullish for 2016.

You said that the last time dude!

 

I suspect we will be stuck in a range between the bottom and $450 for a good few sessions yet.....but when that breaks.........I like DOWN, way more than UP.

If you're waiting for a crash from here, glwt.

Bull fork still in play. I grant you price may fall a bit further in short term but the trend is still up my friend.

Matt matt matt I keep telling you sooner you turn bullish more you will profit

This short term bear phase will be short lived, I'm thinking bear trap

Erm...I am currently in a long dude, but the trade is running 'swimmingly' so far, thanks:

Hey Matt, thanks, I feel better now. If you're bearish, things should probably turn out fine

Do they?

I most certainly fucking don't and neither will the panic sellers down at $360, $300, $280 etc.

bear is short term but bull is long term, everyone knows bitcoin will go above 1000$

Latest Trade:

https://www.tradingview.com/x/ihaZ2Lpk/

Yep, I am long, but that don't mean I am bullish, but what comes crashing down, must bounce back up.....a little.

The thing people here  don't like is when it breaks $500 it will likely keep going northwards....

-- oh? Why?

The adoption is increasing, like it or not( because numbers can't lie)

-- what numbers?  Nobody is adopting bitcoin, regular people really couldn't care less about it.


The halving is coming too, like it or not

-- this has already been calculated into current price levels for for a long time.


There will be scarce supply and increased demand

-- in a fantasy world... sure...


That can only lead to higher prices based on the history of the world's resources.....

-- bitcoin is not a resource. It's a useless piece of computer code with more flaws than functions.
-- so many new, revolutionary future proof c systems have been a de made since. Bitcoin is technologically dead. The only thing still somewhat alive is the hype.

Everyone wants to buy it cheaper... Hence the doorm and gloom threads but they are weaklings as far as the btc economy is concerned.....

-- sure everyone wants to buy cheaper. That's why everyone is selling....
 

History repeats itself all the time.... Let them dump at $4xx and pity them when $10,000  is the norm.....Smiley

-- the delusion is strong in this one

The thing people here  don't like is when it breaks $500 it will likely keep going northwards....
The adoption is increasing, like it or not( because numbers can't lie)
The halving is coming too, like it or not
There will be scarce supply and increased demand
That can only lead to higher prices based on the history of the world's resources.....

Everyone wants to buy it cheaper... Hence the doorm and gloom threads but they are weaklings as far as the btc economy is concerned.....

Power will shift from the get rich kids to the strong hands

.. Like everything else

History repeats itself all the time.... Let them dump at $4xx and pity them when $10,000  is the norm.....

Thank you I feel better about it now.

Expecting the price to recover within a week, should break 500 in January.

Read my post dude. I aint saying the primary trend is a bear. But the current trend we are in right now, is bearish. You can say "tchoh, just a correction in the grander scheme of things" and it may well be, but a correction down to $400?, $360? or what about $280?

Any of the above could hit, without Bitcoin being in a 'bear' market.

Jesus do any of you know what a bear market is?   It seems everyone here is mistaking a short downward trend with a full blown bear market.  The long term trend is up, 2013 be damned.

It is not some general currency pair or commodity which depends on trends and news it  is emotion driven commodity of valued for the long term and as the users of bitcoin increase so will its potential. Of you ever traded bitcoin you would have known that fact. And the correction 2016 will be a bull market for bitcoin at least the first two quarters.

MattheCat may or may not be a troll, but he speaks truth in this thread. Bear market confirmed.

Strictly speaking, that isn't my prediction, although I have already profited from a cracking short trade (https://www.tradingview.com/x/7SrPR03D/) after having heeded warnings about the 3 Months Future Contract expiration on the 25th.

Out the short for now, but will hunt another setup for sure when BTC makes 61.8% retrace....IF it makes a 61.8% retrace.

It doesn't work like this man... that's why most of your predictions are wrong.

https://www.tradingview.com/x/pIS9jUMv/





See that big massive purple M. That is a big massive confirmed bear M, and if you like, also a double top to the $502 high. Such bearish market structure is not to be ignored. Don't allowed yourself to buy into any of the retarded bull talk on this forum. This is not a buying opportunity, unless you are an ace day trader who knows precisely when you are gonna dump your BTC. Trend is your Friend. Weekly Chart is still a bull, but fuck trading of the weekly trend. come in a bit closer and things looking a bit less rosy, and certainly the 4Hr trend is firmly bear.

Trend is bear, Daily mom are (were) maxed out, and will now be looking to give the floor some more attention, and that Big M is a very strong market signal telling you all you need to know about what lies ahead for this market.

When/If BTC hits the Red Box, then start looking for shorts......this will be easier said than done, as I imagine when/if BTC gets up there, Pro Traders will be over it like a rash, and shorting the fuck out of BTC. and more cautious/less skilled traders will be unlikely to get the market structure that we like, in the trade location that we like.