Topic: rpietila Wall Observer - the Quality TA Thread ;) - page 318. (Read 907212 times)

Isn't trading fun!

Ah good. Your active. I was looking for advice from a trader on here (who isn't a complete halfwit).

What is your view on the next 12 hours in Bitcoin? To me, 750 looks a sure bet, and beyond that lies 780 which will prove a very strong resistance level due to the vast level of liquidity that the 10K whale tricked the automated bot traders into buying into. I have been long since $490, and soon I go to my kip. Now, I am of the opinion that we definitely will see a retracement possibly right back into the $400's before we get out the $500s. Question is, is there enough strength in the market to get up to this $779 level (many people might not know exactly why this is likely to prove a very strong resistance level) or will the retracement kick in at a lower price level?

Having a better idea of how this might play out will make the difference between me going to bed with an open position, or closing at best opportunity before I get my head down. The simple indicators that I use are in no way suggesting great rising strength in this market, although the 4hr MACD is moving towards the crossover point.

What your take?

P.S. I said that bottom would not happen with a flash and a bang, but with a whimper, and I cautiously stand by that.

EDIT: I sold at $548. Either those gargantuan Ask walls on Stamp largely consist of liar walls or this market reverses here, as it would require a level of buying power in the market that I am just not feeling to eat through those.....still interested in your (or anyone else who isn't a half-wit) take though.

EDIT 2: I am being proven totally wrong just 2 minutes later.

Hey wasn't it rpetelia or someone in here who said "the recovery can't just happen with a flash and a bang"? That looked like a flash and a bang to me. Probably a short squeeze. I can't imagine that the entire 32% range of 400-525 is just going to be hit once for 12 hours and then never seen again. That would be like if in 2013 it went from 66 straight to 86 but this actually took a week.

That didn't smell like capitulation but I know nothing.

drinks on me, just tell me when to come. you'll always have a place to stay in New Orleans, Louisiana, U.S. during Mardi Gras season, i can show ya a god time

well it kinda does make it look more like a castle (to play counts and knights in).

Hey, I never said it didn't exist, I was just pointing out that it didn't exist in the form you presented it.

I would like to hear these other methods, but it will be a while before my bitcoin holdings will allow me to visit - especially since the last coins I bought just disappeared via Gox.

Your gonna destroy the beautiful lawn with that pavement up to the gate.

I suggest having the road some 50m near the gate and then a red carpet, having guests to walk barefoot on it.

Building definitely exists and it was on the market for 960 000 EUR, I posted a link to that sale earlier.

I want an invite! If I bring several rare bottles of whiskey would that get me in?

What exactly are you trying to accomplish? Get an invite?  I could suggest better methods....

Of course I had it photoshoped right away, how else could the craftsmen know how to repair it?

That the building exists, you can easily find from wikipedia and google maps "Malla, Estonia".

True... just pointing out that the building is really crumbling and a dingy grey color. The yellow and all those colors were added by Photoshop. 

yet they havent said anything clearly about it

Gox removing their site is not exactly the rumour. There's nothing worse that could come from their statement, only eventually something positive - like them being bought or so.

+1 for the movie and that 60% chance

i also think further dip to come when Gox will officially confirm their issue. As in december, the first leg down was in reaction to some unverified rumour about some secret meeting between govs officials and chinese banks. The second leg down was when the chinese government officially declared its position toward BTC. (*although im not a fan of that news affects price thing).. so watch out people, the party has just begun

I guess he took his time to make a trip to nearby Estonia and checked it up, you don't pay 1 mil. eur for an image 

It surely might need some restoration, it's pretty cheap.

That place is a total dump... None of what you see in that image is real - the image has been manipulated. Look at the side wall and you can see how bad of shape it really is. Look at the driveway... does that look like anything but a 2D color gradient?

Either rpietila was joking or he is buying a fixer upper.

I give it a 60% chance that we haven't seen the bottom yet. Volume was good today and the bounce as well, so it could be a bottom, but there are still uncertain factors and the market could take a serious dive again if the 750k BTC that supposedly got stolen becomes official or something like that. I do believe we're very close to a reversal though, I can almost see the light at the end of the tunnel but we still have some ways to go. I only made like a 1 BTC gain out of all of this so my trades aren't really great either, but I have to say that following this whole story is mighty mighty interesting. Someone should write a book or make a movie out of it.

As I said, that's your problem. You want GBP, you get your GBP. Once big rally starts you have less Bitcoin and thus make less gain on price rise.

What I am talking about is that my crypto USD net worth currently is about the same, and probably even bit more, like it was when Bitcoin was 800$. But I approx. doubled my Bitcoin count in that period so the drop to this level haven't made any difference. As long as I maintain to rise my Bitcoin count similarly to the percent of Bitcoin price drop, and so far is relatively good, I am not too worried about Bitcoin price. I just have to wait for next rally for that net worth to become much bigger.

That's a difference between two of us. You trade and short to gain USD, I trade and short to gain BTC. So far people that did what I am doing got much more than people who did what you are doing. We'll see if that will change but I don't think so. I don't expect you to change your trading philosophy though 

Here's a small tidbit of advice:  if your math comes out on the far side of a round number or other psychological support, put at least some of your bid on the near side of that support... because your math does not take into account human psychology.