Topic: Lose all your capital fast, with MatTheCat and his TA 101A! - page 30. (Read 85774 times)

The time to sell is already passed.  Selling now is like putting on a seat belt after a car crash.  You're far more likely to gain than lose now.

Should I get in or out? Please tell me

I'm not in a bad position.  I got out at $763 and dollar cost averaged buys as it went lower. 

The bigger question, will Mat throw the poll and vote yes so he can be a slave to unaccountable bureaucrats:

"The most recent YouGov poll, for the Times newspaper on Monday, showed 44 percent of Britons would vote to leave the EU and 42 percent would vote to remain"

Had the Sell Off been slightly less dramatic...I might be inclined to start hunting setups around here...with BTC getting down to just $8 above the level I had my eye on.....but as things are....whole lot of despair in this market right now. A whole bunch of holders who are at the very edge of implosion, are hoping and praying with each rebound, that the market comes back to them (this category of Bitcoin holder are most likely to throw towel at VERY bottom), and then there are those who mistimed their buy-ins (a bit like yourself), who would welcome the opportunity to get out with thier shirts on their backs..

Key Whale levels and targets for me, or go home!

$566 on Stamp would be a start towards piqueing my interest.

Not sure how you talk about "they" all the time and didn't notice "they" had the catcher's mit out at $590.  So it will probably rebound up from here.

Dear Matthew,

My feline friend, here is your buying opportunity at 600 bucks.
I hope that you remain strong this time.

Best wishes,

Teddy - blockchain specialist

$566 is the 61.8% level on the 'clean exchange' (Stamp). After such a shit storm, hard to see how that level won't be hit now, and it will only rebound from here IF the Market Makers decide that enough is enough, and that they would like to start reloading the lorries with all the BTC they dumped way up top.

My magic 8 ball just told me that we will bottom out at 575-585 and then the real bubble to ~4.5K will happen during the next 2 months.

Welp, bought more at $600.  Dollar cost averaging saves the day.

If I had a definitive answer to that, I would be betting the house on it.

I dismissed the idea of the $645 bottom giving way so soon, and actually attempted a long, from $652, which I abandoned at $644. That break down where I opted to bet on the bounce (tchoh....it seems I just have a penchant for dem counter trend trades), was the last time that Bitcoin would have offered an acceptable short trade for me. If Bitcoin wants to put in a bottom here and hold this level, then fine, I will try and go with whatever I see. But for me, there is no real support in this area. Next real strong support going by previous market structure, is basically down at $580. That is the next level that I will be really looking at before I try another knife catcher trade.


Yellow faded dotted lines are recent supports taken from 4Hr RSI peaks. The blue faded dotted lines are taken from old Daily RSI peaks. That clutch of RSI lines (mostly daily) sitting in the green 61.8% RLZ, are support levels from some very volatile action back in 2014:

Is it going back up anytime soon?  These red candles are killing me.

I already posted my last trade selling at $763 and buying back at $656.  I bought more in this dip to dollar cost average the $656 buy.  I'm still way the fuck up so it doesn't really matter.  My dollar cost average per bitcoin is like $40.  Even the Winklevoss dollar cost average is higher than that at over $100 per coin.

Bwahahahahahaha!

Whatever r0ach.....you had better go n prepare some cut n paste Buy High - Sell Low Finex trades, showing how you actually sold up at $750, and never bought back until $580.

Yeah...$580, cos that is where Bitcoin is going.

There is fuck all support at this current price level. This is Dump City. Hearts gonna be broken (even more) around here.

P.S. regarding your Finex 'fake sell walls'...whatever m8. Both Finex and OkCoin 3 Month Futures got down to their support levels, and started to bounce hard...that was the trade signal for me to enter the long....however, Huobi wouldn't budge, and just kept selling, and selling......I was watching it all on 1 minute charts, for each exchange. After that 'bottom' was breached', as I said, it was a case of 'look out below'....there was no support for about $70 of price action beneath those bottoms, and there still isn't.


@Zimmah.

I use.

Market Structure....i.e. reversal candle patterns and/or M or W market structure, depending on direction of the trade.
Fib Retrace Levels.
Volume Profiling (the bars on the right of the screen, which show trade volume for each price level)
Horizontal Support/Resistance levels (check those faint lines on the screens, and notice how spot has a habit of bouncing of them, or ranging in between them. Notice how there are no more of these lines until around $580 (Finex)
Harmonic AB=CD targets....markets don't move in straight lines, they zig-zag.....AB=CDs are a good way of picking out targets the market is likely to hit.

does anyone actually follow the advice in mats charts?

does anyone even understand his charts, assuming they even make sense?

i am pretty good with charts, but i dont understand any of his charts to be honest.

I'm just here for the fun discussion.

When it dumped, the sell side walls on Finex were fake all the way up to like $650.  It was the same quantity and size of walls that were used during the entire rally that are always pulled.  It was just an orchestrated pre-halving china shakeout.  There was actually 0 resistance all the way back up to pre-dump price, which is why it's about to shoot back up again.

I never took the following trade, but I am in the process of building up a trade setup to allow me to get into trend continuation trades. I did consider it, but balked at it. Perhaps due to my opinion of BTC needing to bounce more, before it went down more.

The system is very simple.

Identify a trend, in this case a bear trend, identified as such by MAs on multiple time frames being in bearish territory, as seen by this chart here:



Then you are looking for a narrowing consolidation pattern. In this case, u are wanting to see bearish resolution of all MAs, right down to 5 min TF, and are looking to enter trade on the break of supports, as shown here:



Now, obviously this trade is taken with the benefit of hindsight and it is a hard trade to take, as it flies totally in the face of 'common sense' (I balked at taking this trade when Bitcoin was breaking out, and I dismissed it right there, as Bitcoin is on it's inevitable path down. But according to the parameters used in this trade setup, despite Bitcoin having bounced considerably from around $630 on the 3 Month Futures, it has stopped in 'No Man's Land'. If previous market observations hold true, this correction has further to go, and needs to hit at least the purple AB=CD target, which also lines up with a 4hr RSI line, and perhaps even the cyan AB=CD, which also just so happens to align with a 4Hr RSI line, and is also in the 61.8% retrace range for the entirety of the whole fucking bullshit manufactured pump.


I mean seriously!? What does the very fact that Bitcoin can cover hundreds of USD worth of price action in both directions, within just 2-3 weeks, tell all you, who place so much faith in this bullshit fucking scam, about the condition of this market? Who knows, Bitcoin may well go on to hit $3K (I don't believe that), but whatever it does and whereever it goes, it shall do so leaving a big long trail of bullshit in it's path, with the distant echo of Chinese Bitcoin Cowboys laughing their fkn arses off at gullible the gullible whitey's.

Have just hit this as per my market plan as above. Perhaps pretty risky given how bearish the LTF MAs are, but I favour more bounce, before I do more down:



I shall re-analyse later and may adjust targets/stops.


Edit: Scrapped Already....In at $651, out at $644. Huobi is leading the selling pressure here...other exchanges are trying to bounce..Huobi is having none of it....will see how this pans out. Most likely, once again, I am going to thoroughly regret not sticking to my plan.


Update: Well. One of those times when I am glad that I scrapped my setup. The Bottom is popped. Look out down below! Targetting $580.

In summation, I am currently looking for a retest of the recent lows, from where I think I would like to hunt a long entry, targetting low $700s. Will be on constant guard however, as that $580 level way down below looks to me like it is screaming out to be tagged at some point down the line.

There are already enough paid shills like Kwukduck, Lambchop, and Talks_Cheep spamming "Bitcoin will crash to -$3 any second!" where there's really no point in me posting when I sell because those bearish posts are already oversupplied by paid government agents and banking shills.  I don't try to induce fear in the market to buy lower like some people.  People that do that are usually sociopaths.  I do tell people Eth will crash to 0 because it's an actual scamcoin, and I don't want to see blatant scammers operating in cryptocurrency.


The value of my position is higher than yesterday, but I sent some of the gains out to buy some Monero (the coin).  BTC + Monero is the only thing I currently hold.  Monero wallet comes out soon and it will break it's old 0.004 highs afterwards, so you can kinda throw a few BTC at it and if you can restrain yourself to not look at it for a while, will come back to see some gains eventually.