Topic: Wall Observer BTC/USD - Bitcoin price movement tracking & discussion - page 26182. (Read 26711027 times)

wrong, bitcoin is dropping to $485 very soon

Agreed,
$600 here we come.

time to kiss $500 goodbye

Imagine this scenario:

10 men are locked in a room. They are given different quantities of 2 assets each. They start exchanging those 2 assets among them, effectively creating a 'market' and determining a 'price' of asset A measured in asset B and viceversa.
This price is recorded day by day, and a graph drawn on the wall of the room.

Now, as times goes on, 9 of these 10 men start seeing things in the graph. They seems to fool themselves into thinking that somewhat future prices are determined by previous ones. They take rules and compasses and start identifying 'trends' and 'patterns' in the graph. They think: "price has gone up for the last 3 days, it is more probable that it will go up today, instead of going down". They completely forgot the base mechanics, as you recall correctly: trades and trades alone determine price.

The 10th man, more wise, don't believe this mumbo jumbo. He understand the mechanics. He also know, now, that another mechanic has been added to the game: beliefs.

So at the start of the day he buy a bit of B, fooling the others into thinking: "see? what did i told you? trend is up". And they buy, and buy...
It is at that point that our trading hero sell.

So, while these 9 men think they are smart because they can see 2 moving averages cross, the other one fool them. A lot.

After a year the room is unlocked. Every pieces of A and B are in the pockets of our hero. The others pockets are empty.

Here endeth the lesson.

ltc to 2.65 and btc to 350.. can this wave be it? cmon

Absolutely false on its face.

All trade is by definition positive sum, and a market is merely the aggregation of all trades. This arises because the preferences of individual participants are not monolithic.

The whole anti-TA strain I can understand is very compelling from a sense of misguided skepticism and not wanting to be made a fool, but all of these knee jerk non-criticisms transparently come out of a lack of understanding of what TA even is in the first place.

true, and 4hr chart actually makes it look like it could just be getting started. OR this is just a huge fakeout. whatever you do, don't leverage with LTC. the volatility/no liquidity is insane. BTC is volatile enough for me for now.

Short much?

It was also down ~90% from it´s last ATH. It could easily go up to 15-20$ within 10 days.

It was up 90% from $3.30 though ??

If it touches 6 again it will retrace to 4.

LTC shorts almost doubled in the last 36h. They are going to get squeezed pretty fucking hard, again.

Lmfao

Back above 500! Yay!

it's looking good to me!  504 and the order book on stamp looks healthy, 4hr MACD about to cross just crossed

That is flawed logic.
 
Over 90% of golf players use golf clubs too... does not mean they are ever going to be able to play like Tiger woods or Rory McIlroy or Arnold Palmer or Greg Norman or Seve Ballesteros or any of the many many awesome professional players... and that is just one example in many many fields, of people using the same tools... but different performance/outcomes/results/wins...  

 

T&A is better than TA, and more fun.

Oh, that's fine with me. You did however note that the post I quoted claims TA doesn't work because it didn't make him rich. Which, as per your own argument, makes it an invalid conclusion as well, right?

Anyway, this discussion is moot of course. TA works, and it's not really a big secret. Doesn't mean 80% of the "TA" posts in here aren't bullshit, of course.

You didn't get richer because you used TA. You got richer despite using it. Correlation doesn't equal causation.