Topic: Nights Watch by Afrikoin - page 108. (Read 303329 times)

Ahah sorry didn't want to be mean.

I got the same strategy as you do, look for a local top to unload part of my position, and get in back again for a long awaited "historical" bull run.

just reading about that guy speaking of bitcoin as a mere IOU that got me mad.

Freudian slip

hey

dont be mad

the silver chart shows you can't have an infinite bull trend and it has to correct at some point.

My assessment is we are nearing a terminal point - $1400 and after that we will correct.

Some say to $1000

some say to $900

I say to $700 -$800

possibly $512

Wont happen overnight, we'll be here for months.

If you think this is a new cycle, by all mean, go ahead and keep holding. Im not here to stop you. Why do you care about my 'bearish' EW charts??

I dont get it.

What is with you people.

Im here sharing on my thread. Cant a guy have an opinion? Jeeez!

Quoting a guy that first call bitcoin an IOU, when the biggest technological shift of the blockchain technology is that you own the value, not any kind of debt or IOU or whatever.

Second, comparing Silver bust when it went parabolyc in a much mature market has nothing to see with our actual bull market (I could kinf of agree fractal are here with 2013 boom/bust).

EW has a huge problem : that massive bearish biais, that can only get bigger when you sell your coin at 900ish dollars.

Ok, suit yourself!
At the time i wrote it, that was the information you presented. (How was I to know it was a typo, afterall, there it was in black and white, i just took it at face value)

That doesn't change what i wrote below there, though. I don't see the correlation he is talking about.

in bold.

was a typo.

which kinda makes me not want to read what you say after (bold) because its based on an assumption

Ha ha.

You troll!

It was a typo, i was in between writing an article.

If you keep this up I'mma have to block you from this thread

I don't see any correlation at all between Silver and Bitcoin!!    

Thats not to say it isn't there.. I wasn't around & trading silver or bitcoin back then.. but just looking at the two charts.. i don't see any similarities.  

(My first thought was: If you look hard enough for what you want to find, you will find it sooner rather than later, and eventually you will find it everywhere you look.
Confirmation bias. You have admitted bearish long term bias, so its natural you seek bearish opinions to confirm your own.)

He compared them on backwardation (really? futures markets have such an impact on btc??)
Hype.. totally subjective.. I could spend all day reading hype articles and sense that there was a 'hype building' around a topic.. or i could ignore them.. and not sense ANY hype at all.
That's just totally subjective and whatever he is sensitive too perceiving.

TSI? Currently well above 0  @~35-40...

So, having look at and compared the charts and the statements.. i just don't get it. IMO, what he's talking about (the guy who replied) is opinion.. or perhaps he just wants to agree with someone he admires, i really don't know.

You'd be better off absorbing what Mr. Lignham has to say, and also if you watch the vid i posted, Mr. Jozza.. he talks about the long-term uptrend that we're in.

Draw a line on your chart, tracing this trend (since around Oct'16) - The area near this line is an entry point if we see a drop. It won't break $900 imo and that's in the worst case scenario.

You finally admitted it. Why don't you change the thread title to 'BTC will fail?'

Bearish as in "Bitcoin as a technology will ultimately fail"? Care to elaborate?

I am looking through Silver charts on google tagged with Elliot wave

This is one chart i came across

What i am trying to communicate is how a reversal would look like and that it is possible to reverse from an astronomical high.

There's talk of a $1400 top in the making. And that's fine.

But my concern is what comes after and i am trying to anticipate how far down it would go for - buying back!

i am long term bearish BULLISH bitcoin. Always been.

Silver chart

this one goes out to the noobs

new indicator

Peter Brandt indicator

see his recent tweets and comments on BTC being oversold and reminiscent of Silver here

source: https://twitter.com/PeterLBrandt/status/835559905658470400

first comment responded saying

Robert Harmon‏ @ColoradoHarmon  Feb 26
More
 @PeterLBrandt exactly! I traded $SLV from $17 - $48ish. $BTC from $680 - $1180. The backwardation, hype, and TSI indicators look familiar.

Also he said


ANNOUNCEMENT: Not an enemy of $BTC. Owned them from sub-$400, exited on Friday. Just saying - even a computerized IOU is subject to a bubble

 

Fine. Quoted for posterity.

My sentiments exactly. There's preference and then there's reality. The reality is the market cap is just far too small for there not to be a bubble. It's not question of if but when and we'll just have to deal with the fallout and keep moving forward.

You people need to calm down.. Anyone who doesn't think bitcoin will be $1,000,000.00 in two days we attack with pitch forks.. could we not do that?

Shouldn't fear the boom/bust cycles. They are innevitable for a new technology when gaining adoption. We have already had several boom/busts in bitcoins life and we are still here. Yes it sucks right after the bubble bursts but that's how it is. No point in having such fear for it.

Asking for the price of bitcoin to appreciate to several thousands of dollars but at the same time not wanting any bubbles is asking for too much imo

And yes of course it's better for bitcoins store of value function and potential medium of exchange function if the price is more stable but bitcoin is still just WAY to small to ask this now.