So how many of you missed the perfect "cup and handle" movement late November?

RyNinDaCleM

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Legen -wait for it- dary

Quote from: BitcoinDistributor on January 13, 2015, 08:06:57 PM

This is what I mean. Sorry - I'm not good with drawing / editing photos. I've specified where the buy point would've been if you saw the cup and handle at the time.

[img]

My chart was bitstamp but I see yours is a little guy in the bottom of mine

podyx

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I didn't miss it.
I went long at $375 and made $4-5k in 2 days
Thought a new bullrun had begun so I held on to it and lost all the profit though Sad

Morecoin Freeman

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Quote from: BitcoinDistributor on January 13, 2015, 08:06:57 PM

Sorry - I'm not good with drawing / editing photos.

You don't say.

BitcoinDistributor

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This is what I mean. Sorry - I'm not good with drawing / editing photos. I've specified where the buy point would've been if you saw the cup and handle at the time.

BitcoinDistributor

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Merit: 250

Quote from: RyNinDaCleM on January 13, 2015, 05:22:54 PM

Quote from: podyx on January 13, 2015, 05:12:58 PM

Quote from: BitcoinDistributor on January 13, 2015, 04:58:02 PM

Quote from: podyx on January 13, 2015, 04:51:01 PM

img]https://i.imgur.com/uT4fv9x.png[/img]

Seriously though, what the fuck are you talking about? Grin

Look at bitstamp 3 month chart and you'll see what I'm talking about.

nop, links or pics could help

I can only imagine OP is talking about this

The problem is, that cup & handle should have followed the orange line because the "handle" (the small bull flag looking shit on the right) should have been only a correction when in fact it was the beginnings of this here 5th wave to hell.

That handle is too large of a fallout from the price reaching its original high. A typical handle will only drop 10-20% at most, anything more and theres a much greater chance of it not taking off and the price dropping lower and failing (which it did). I would not consider your example to be one I would invest in. If bitstamp comes back (its offline) I could show what I am a talking about. This is just going off the bitstamp price chart for past 3 months, not preev or another market.

RyNinDaCleM

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Legen -wait for it- dary

Quote from: podyx on January 13, 2015, 05:12:58 PM

Quote from: BitcoinDistributor on January 13, 2015, 04:58:02 PM

Quote from: podyx on January 13, 2015, 04:51:01 PM

img]https://i.imgur.com/uT4fv9x.png[/img]

Seriously though, what the fuck are you talking about? Grin

Look at bitstamp 3 month chart and you'll see what I'm talking about.

nop, links or pics could help

I can only imagine OP is talking about this

The problem is, that cup & handle should have followed the orange line because the "handle" (the small bull flag looking shit on the right) should have been only a correction when in fact it was the beginnings of this here 5th wave to hell.

podyx

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Quote from: BitcoinDistributor on January 13, 2015, 04:58:02 PM

Quote from: podyx on January 13, 2015, 04:51:01 PM

img]https://i.imgur.com/uT4fv9x.png[/img]

Seriously though, what the fuck are you talking about? Grin

Look at bitstamp 3 month chart and you'll see what I'm talking about.

nop, links or pics could help

poncho32

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I expect he's describing a trading term. I'm not a trader so I don't know any of the terms except dead cat bounce.

BitcoinDistributor

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Quote from: podyx on January 13, 2015, 04:51:01 PM

Seriously though, what the fuck are you talking about? Grin

Look at bitstamp 3 month chart and you'll see what I'm talking about.

podyx

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Seriously though, what the fuck are you talking about? Grin

BitcoinDistributor

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Back in late november bitcoin did what chart analysts know as a cup and handle movement. The drop and slow curve as more people buy, but less people sell. Then when it reaches its high again, it causes the weak to sellout thinking they are just glad to make their money back.

You look at the chart and see it dips a little after from the fallout of weak investors after making high again but the buy point was around $350 or so. Well within 3 weeks later, it hit $425, netting some a nice profit of ~20% on their investment.

Curious how many took advantage of this? I don't look at bitcoin charts often anymore because I've believe BTC has been long overhyped and overpriced past $125 but mad I missed this one.

Topic: So how many of you missed the perfect "cup and handle" movement late November? (Read 851 times)