Topic: open your eyes - page 4. (Read 3545 times)

Deeply sorry for your personal bitterness and frustration.

I will continue to accumulate bitcoin at the most rapid feasible pace.

If I had no drawdown tolerance, I would not be buying bitcoin.

The more you warn of the folly of buying now, the more convinced I become.

I refuse to acknowledge any chart that does not feature hand drawn dinosaurs.

I cannot believe I am still hearing people vigorously advocating taking a long position right now and that this is the bottom because their perception of 'previous cycles'.

A blind man could read this chart and tell you that it's not a good time to buy. It's more like... time to gtfo, take a 3 month vacation, and maybe put an alert in with a charting service to alert you when the 1W emas or 1W MACD has crossed back up. Weekly emas have only ever crossed down once in the history of bitcoin, in 2011. All you have to do is open your eyes and see.

All you have to do is stop being deluded with your thoughts of how bitcoin is the holy grail and so great that it is impervious to downtrends and long drawn out bear markets. Even the strongest stocks in the stock market with the best growth fundamentals have these types of bear markets when the economy gets bad and there is trouble overseas. Stop being deluded with logically flawed thoughts and chart readings and log lines of how you're entitled to a 'cycle' with a rally every 9 months. You think you can pick the bottom based on "sentiment" on forums and a time position within a "cycle". This is all based only on infantile pattern recognition and bad math, and people seeing only what they want to see on charts but failing to recognize divergences. One such obvious divergence is the RSI divergence on the weekly chart which indicates that the uptrend with 9 month cycles is over.

Also, stop thinking that "wall street" is suddenly going to "move in" to save a bunch of lucky tech kids and turn them into billionaires. It's like you have some sense of entitlement. "I bought 50,000 bitcoins before bitcoin was cool. Now I am entitled to be a billionaire. It's time for my scheduled 9 month rally. I want it now. Where is my train?" It's not coming... Just open your eyes and look at the weekly chart. The chart tells all. Trade the chart, not the news and what traders are talking about on forums.