Topic: Lose all your capital fast, with MatTheCat and his TA 101A! - page 11. (Read 85769 times)

For the love of God I hope he doesn't listen to you and just hodls.... for like 3 years. 

If he really needs to make another $150 worth of bitcoin on a risky trade, he has more pressing problems and needs to go get a better job, side job or something.

Depends what you mean by bearish.

I drew that chart for a mate, who has been holding since $830, and who failed to take profits all the way up tp $1140, and failed to take profits again in all the zig zagging of price between $900 - $1040. Now, as I had previously advised him, he will get another chance to leave this trade with more USD in his account than he entered it with. The three green hearts represent target areas, based on notches in the Volume Profile. The upper most notch, is also right around the 61.8% retracement level and also right at the level where the market failed to bounce right back up after the initial correction, and took another almighty fall.

So my upside target here is around $980. If u want to call that bearish, then fair enough.

*price goes up $50*

Mat: BEARISH!

I didn't lose a cent on Bitfinex.  The market had turned flat and I knew their exchange was likely insolvent due to the all the irregular activity I saw during Brexit so I got my money out of there on this sideways plateau like a week before they goxed.  There was no reason to even have money on the exchange at that point since there was no volatility.  The only people who got goxed were the type of people who always leave all their cash on exchange 24/7 really.  

Hell, I get nervous having money on Poloniex to trade for even 24 hours, so there's no way I'm going to let money just sit on BitFinex for no reason.

Picked the top once again r0ach, eh?  

Maybe these wins will make up for the devastating losses (that you denied) you incurred on the Great Bitfinex Scam of 2016?


Bitcoin market cap is tiny compared to gold and Bitcoin price is also driven overwhelmingly by speculation and also on very low trade volume (ignoring Chinese volume which is all fakery). Bitcoin and precious metals are totally different investment classes. The only thing that might be said, is that Bitcoin stole away a lot of the internet 'End the Fed' freedom warrior retail investors, who would otherwise have put money into precious metals.......but still, in the grander scheme of things, we are talking peanuts here.



btw, did you know that all the original Austrian economists were Jüde?

As usual, r0ach lives to see another day and was unloading for silver and gold at $1100's.  TPTB allow Bitcoin to rise because they don't want people in the metals market.  I wonder how far they will let it rise once they figure Bitcoin is flooded with Austrian economists who are either selling a large portion, or at least hedging some gains with metals driving the price of those up.

Hey Ibian. I notced that Bitcoin is now back down below your net buy-in level..

shame eh?

The real question is why you keep putting yourself out there.

Stopped trading Bitcoin after both Finex and Kraken robbed my account.

This thread is essentially defunct as far as Bitcoin TA goes, but it is still used by some of my long time 'fans' as a means of taunting me.

is this technical analysis of bitcoin or matthecat's psychological makeup? let's have some bitcoin too.

Bah! All I got is pizza!

and what make you believe that bitcoin can be made worthless by a single government of the world? if you think that if china seize all their bitcoin farm bitcoin will die?

no just plain wrong, it will only created an awesome opportunity for the remaining miners around the world to mine more coins, you can't kill a decentralized project by destroying a single centralized portion of it

Nobody knows how long Bitcoin will be around and how well it will do in the future. Not me, not you, nobody, we are all just making our own silly predictions based on our personal beliefs. One thing is for sure and that is that this is the most exciting and promising market I've been involved in and there's no way I will be sitting at the sidelines being all cynical and predicting doom upon everyone for holding Bitcoin. That's just sad, sorry. If Bitcoin goes bust I will not be sorry one bit for investing the time and money I have so far, I have learned a lot about so many things due to Bitcoin and that's worth much more to me than the price ever going to $1,000,000 or whatever. I have invested $0 in gold and silver as I can't be bothered to store and carry that boring crap around, but good luck to you if you believe that's what will carry you through the hard times. Not my cup of tea, it's Bitcoin all the way baby.

Mat suspect you are right eventually it will bust.

However the question is how long will it survive?

The longer bitcoin stays around the more credibility it gets , simply for surviving and not being broken.  The price follows credibility.

Eventually it will collapse that's for sure, the only question is how long will it be around for.  Until it crashes it seems likely the price will only increase

I suspect it will not be around longer than 10-15 more years. But in that time it could go much higher as more people buy in.  That is why its so interesting to many investors.

I have three times the coins I originally set out for thanks to those years of accumulation.

indeed,and finally, after all those months/years of being deep in red, you are the one making money.....

......until one day Bitcoin just goes 'Puff@, that is.

And yet you are the one losing money.

Bullish over the longer term, NOT over the short term.....if I were holding BTC from before or just after breakout (~$800), I would be looking to cash out on any move back up towards the $1000 area, with of course no guarantee that it will even get up that high again before the POC at 700 is retested. I actually know someone who rebought Bitcoin at $830, and who has held right up until now. My advice to him was to sell some at $960, which was the completion of an AB=CD Harmonic, and if he was going to hold onto any Bitcoin beyond this point on this same nosebleed parabolic move up, then ultimate sell point was up at $1080, which is also a AB=CD (green) on much higher timeframe and a 1.618 Fib Ext on the breakout from previous high:



......of course, Bitcoin went up to $1140, and during a telephone call with him, I congratulated him on not listening to me, and admitting that I had no fkn idea how high they were going to pump this piece of shit.......but just a few days later.....whack!

It isn't about being right, it is about getting paid. Even if he had cashed out fully at my first target of $960 (which is what I would have likely done), then he still woulda got paid, providing he could withstand temptation to FOMO buy as Bitcoin soared higher and higher.

Going forward from here, I see profit taking (and arse covering) whenever Bitcoin reapproaches recent key levels up above, followed by a deeper cut back into $600-$700 area, before consolidating in prep for next move up.

If what I say turns out to be 100% accurate, and bitcoin drops to $700 and eventually breaks out and pops up to $1500, then that is still only 100% move up (for the sharpest of traders that is) in what must be one of the highest risk markets, with the most crooked, incompetent, and untrustworthy exchanges of any commodity or stock, anywhere in the world. Returns to be had in Bitcoin now are just not worth all that.......my mate however, like many of you in here, thinks Bitcoin is going to take over the world. Anyone who thinks like that may as well kiss goodbye to their wealth right now.