Topic: rpietila Wall Observer - the Quality TA Thread ;) - page 241. (Read 907227 times)
Wall on stamp pulled. Down we go.
400 breached, going down :3
The 400 wall hasn't been breached on bitstamp. Edit: ah there it goes.
400 breached, going down :3
Hello all. I've been reading every post here (well, except some of AnonyMint's as they are pretty difficult to absorb) and now decided to finally reveal some TA I'm doing.
Currently studying Elliott waves analysis. There are lots of rules and guides regarding correct reading of waves so I did my best to follow them. Although I'm still pretty confused about some of them so I ask for advice on how to improve what I did and on how to fill the gaps. Here is the chart I am working on: https://www.tradingview.com/e/1QcTgU9a/
Any hint would be useful. Thanks.
Currently studying Elliott waves analysis. There are lots of rules and guides regarding correct reading of waves so I did my best to follow them. Although I'm still pretty confused about some of them so I ask for advice on how to improve what I did and on how to fill the gaps. Here is the chart I am working on: https://www.tradingview.com/e/1QcTgU9a/
Any hint would be useful. Thanks.
Your words are like water to a parched tongue. Thanks Risto for keeping me encouraged when it gets a bit depressing.
I can do research, and draft scenarios, and give probabilities, and make forecasts, but one thing I should not do:
HOPE that the price would go to this or that direction. For hope is the root of all bad trades.
This is exactly what i follow rpietila, a lot of people keep hoping even when their hopes materialize they keep hoping some more.
It's all about doing the right research, having the right info on the right time and calculated trades.
Hope more people can learn from this thread
Some of us need some "hope" so we don't do anything stupid like sell when we are depressed.
But yes, it is best to be as unemotional as possible with these sorts of things. I am not really a trader so it is more about holding until we decide to take some profits eventually.How can you hodl when bitcoin is going down gradually for >4 months? We started January and until now there are no positive bigger changes. I shorted few times already and waiting for the bottom ... which i believe will be 100-250$. Everybody are really bullish now and i'm feeling so bad about all these people who're losing money because we're low for so long. ;/
How can I hold? I held through last Summer and that was far more painful that it is now!
Your words are like water to a parched tongue. Thanks Risto for keeping me encouraged when it gets a bit depressing.
I can do research, and draft scenarios, and give probabilities, and make forecasts, but one thing I should not do:
HOPE that the price would go to this or that direction. For hope is the root of all bad trades.
This is exactly what i follow rpietila, a lot of people keep hoping even when their hopes materialize they keep hoping some more.
It's all about doing the right research, having the right info on the right time and calculated trades.
Hope more people can learn from this thread
Some of us need some "hope" so we don't do anything stupid like sell when we are depressed.
But yes, it is best to be as unemotional as possible with these sorts of things. I am not really a trader so it is more about holding until we decide to take some profits eventually.How can you hodl when bitcoin is going down gradually for >4 months? We started January and until now there are no positive bigger changes. I shorted few times already and waiting for the bottom ... which i believe will be 100-250$. Everybody are really bullish now and i'm feeling so bad about all these people who're losing money because we're low for so long. ;/
Your words are like water to a parched tongue. Thanks Risto for keeping me encouraged when it gets a bit depressing.
I can do research, and draft scenarios, and give probabilities, and make forecasts, but one thing I should not do:
HOPE that the price would go to this or that direction. For hope is the root of all bad trades.
This is exactly what i follow rpietila, a lot of people keep hoping even when their hopes materialize they keep hoping some more.
It's all about doing the right research, having the right info on the right time and calculated trades.
Hope more people can learn from this thread
Some of us need some "hope" so we don't do anything stupid like sell when we are depressed.
But yes, it is best to be as unemotional as possible with these sorts of things. I am not really a trader so it is more about holding until we decide to take some profits eventually. 
Your words are like water to a parched tongue. Thanks Risto for keeping me encouraged when it gets a bit depressing.
I can do research, and draft scenarios, and give probabilities, and make forecasts, but one thing I should not do:
HOPE that the price would go to this or that direction. For hope is the root of all bad trades.
This is exactly what i follow rpietila, a lot of people keep hoping even when their hopes materialize they keep hoping some more.
It's all about doing the right research, having the right info on the right time and calculated trades.
Hope more people can learn from this thread
Your words are like water to a parched tongue. Thanks Risto for keeping me encouraged when it gets a bit depressing.
I can do research, and draft scenarios, and give probabilities, and make forecasts, but one thing I should not do:
HOPE that the price would go to this or that direction. For hope is the root of all bad trades.
An question for rpietilä, but others can provide insight.
If 400 is really the bottom even with these new China news, how fast do you think the recovery will start to begin?
If 400 is really the bottom even with these new China news, how fast do you think the recovery will start to begin?
He already provided his insight about this and said that if 400 is not breached, we should be above 500 by the 15 April or so and on our gradual move up, with a new all time high during the summer. Most of the gains towards the all time high happening in a very short timeframe.
Yes, except that I promised 500+ by the end of the month (not 15th). Otherwise correct and despite that we touched 400, my view has not changed. Failure to breach it will signal to everyone that the capitulation phase is over and we move on to the next phase, building a launchpad for the assault of the ATH.
Your words are like water to a parched tongue. Thanks Risto for keeping me encouraged when it gets a bit depressing.
^
I dont know about that, market is retarded, it reacts to every piece of news from China. So far its been like 1 Huobi bank and "not sure about the rest". If any more banks will follow - i think people would dump without thinking too much
I dont know about that, market is retarded, it reacts to every piece of news from China. So far its been like 1 Huobi bank and "not sure about the rest". If any more banks will follow - i think people would dump without thinking too much
I think at least as far as China affects the price, this was probably the bottom.
I'm certainly no expert, but it looks like the Chinese government is trying to close off all uses of bitcoin to circumvent their capital controls. However, people in China can and do circumvent those controls in other ways. So it remains to be seen how bitcoin fairs in comparison to those other ways. If you are a Chinese citizen who wishes to get capital out of the country, it certainly is much easier to use bitcoin, if you can manage to buy it in sufficient quantity.
The government may make it so hard to buy bitcoin that there are better circumvention methods, or it may remain one of the viable methods for quite some time.
Personally I don't think the Chinese government will allow bitcoin to be an easy method to avoid capital control. They will continue to crack down until it's no easier than any other method. China will never really be "out", but the frenzy there is over and it will never return. I think the market has priced that in. I actually think the 10% dip last night was an overreaction.
I'm certainly no expert, but it looks like the Chinese government is trying to close off all uses of bitcoin to circumvent their capital controls. However, people in China can and do circumvent those controls in other ways. So it remains to be seen how bitcoin fairs in comparison to those other ways. If you are a Chinese citizen who wishes to get capital out of the country, it certainly is much easier to use bitcoin, if you can manage to buy it in sufficient quantity.
The government may make it so hard to buy bitcoin that there are better circumvention methods, or it may remain one of the viable methods for quite some time.
Personally I don't think the Chinese government will allow bitcoin to be an easy method to avoid capital control. They will continue to crack down until it's no easier than any other method. China will never really be "out", but the frenzy there is over and it will never return. I think the market has priced that in. I actually think the 10% dip last night was an overreaction.
An question for rpietilä, but others can provide insight.
If 400 is really the bottom even with these new China news, how fast do you think the recovery will start to begin?
If 400 is really the bottom even with these new China news, how fast do you think the recovery will start to begin?
He already provided his insight about this and said that if 400 is not breached, we should be above 500 by the 15 April or so and on our gradual move up, with a new all time high during the summer. Most of the gains towards the all time high happening in a very short timeframe.
Yes, except that I promised 500+ by the end of the month (not 15th). Otherwise correct and despite that we touched 400, my view has not changed. Failure to breach it will signal to everyone that the capitulation phase is over and we move on to the next phase, building a launchpad for the assault of the ATH.
An question for rpietilä, but others can provide insight.
If 400 is really the bottom even with these new China news, how fast do you think the recovery will start to begin?
If 400 is really the bottom even with these new China news, how fast do you think the recovery will start to begin?
He already provided his insight about this and said that if 400 is not breached, we should be above 500 by the 15 April or so and on our gradual move up, with a new all time high during the summer. Most of the gains towards the all time high happening in a very short timeframe.
An question for rpietilä, but others can provide insight.
If 400 is really the bottom even with these new China news, how fast do you think the recovery will start to begin?
If 400 is really the bottom even with these new China news, how fast do you think the recovery will start to begin?
The low volume is encouraging, panic should have arrived by now. Maybe there are no more nuts to be shaken off the tree?
What's clear is that any whale has already had several opportunities over several weeks to sell at minimum slippage but hasn't.
What's clear is that any whale has already had several opportunities over several weeks to sell at minimum slippage but hasn't.
400 does not look like it will hold. We broke 300 EUR by the same occasion.
Cheap coins !
EDIT : so far so good, impressively held strong momentum
As anticipated yesterday, we had our "news" : http://www.coindesk.com/bitcoin-price-crashes-chinese-exchanges-stop-bank-deposits/
Are we done with it now ?
Reddit r/Bitcoin has less than 50 new users per day. That used to be over 1000 new ones per day for weeks.
Bitcointalk had 45800 new members last month though and that was a record so growth is still happening.
I think it does seem like the press spurs new interest and it has been fairly quiet this past week or so.
The low volume is encouraging, panic should have arrived by now. Maybe there are no more nuts to be shaken off the tree?
What's clear is that any whale has already had several opportunities over several weeks to sell at minimum slippage but hasn't.
What's clear is that any whale has already had several opportunities over several weeks to sell at minimum slippage but hasn't.
Low 2400's double (and longterm tripple) bottom on huobi would be nice, but i got a feeling that we did not see the bottom yet.
This feels like a good selling spot ~459 for a quickish trade. I will buy back at ~421 or so within 72hrs.
God damn, risto is a dangerous jungle beast
However, despite all this bearish sentiment we are still going down. Why
Sorry.. That was a misquote when I was deleting nested quotes. Risto has NOT been suggesting selling. In fact he chided me for being reckless in this case. I got lucky though.
LOL. Good call.
I prefer not selling in these situations, because - you will soon see why
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