Barely back above $500, on low-ish volume, right after a sharp drop following a long period of stagnation, still no signs of fresh fiat, but the hodlers (not the same as holders, got no problem with the latter) and cultists are back in force, talking about a new ATH this year, etc. Don't know if we'll make a new low anymore, but don't see any signs for a real trend reversal yet either.
Anyway...
Happy to see you posting again, billyjoe. Don't always agree with you, but your posts are always entertaining.
Anyway...
Um, yeah. If there is someone smarter than you with substantially more money, then he's probably going to take it from you. Listen up, people: there are two things that we are doing here to provide value to the Bitcoin economy: We are either reducing volatility and making money, or we are contributing volatility and paying off the good traders and hopefully learning something in the process. WE are the decentral bankers of Bitcoin. We are the liquidity providers and we are also here to take away the punch bowl when things get too frothy. We are trying to do what central bankers would try to do if bitcoin had a central bank. Now bitcoin is too volatile which means we are needed. The goal for most people here is to learn what the hell you are doing before you go broke. It's hard, but there is great opportunity for those with skill and a high risk tolerance.
Pay attention to the moving averages. until the four hour cross, there is no real momentum at all and we can assume a bias to the down side. I missed the train on the shot up to $687 so I'm not risking all cash, but here we are back in the four hundreds, so all I really lost was three months and I still have the same money as if I rode the market up and back down. Make your money on the overshoots up and down, and have enough coin and fiat to profit if either happens.
Pay attention to the moving averages. until the four hour cross, there is no real momentum at all and we can assume a bias to the down side. I missed the train on the shot up to $687 so I'm not risking all cash, but here we are back in the four hundreds, so all I really lost was three months and I still have the same money as if I rode the market up and back down. Make your money on the overshoots up and down, and have enough coin and fiat to profit if either happens.
Happy to see you posting again, billyjoe. Don't always agree with you, but your posts are always entertaining.
the lowest we've touched since the last ATH was $339.79 (stamp), if you zoom out the 3d/1w chart and take a close look, you will notice how ugly that MACD is looking like, considering the fact that MACD is a lagging indicator and cant be considered a 100% signal for trades, but with momentum it is still a good indicator for possible directions.
We went up from $480 to $510 on low volume and the chart is still looking ugly, the thing about the 1w/3d charts is that you have to be sure and confident when others are jumping around and yelling reversal and ATH, and by looking at Bitstamp's book order I can tell that this push wasn't mostly from new fresh money coming to the exchange, so my suggestion is that the group of " sell low and buy high" that is cheering and getting over excited are on action again.
billyjoeallen, see you leave for 3 months and you come back to a lower price, people should learn something from you.
Maybe reading comprehension is NOT your specialty, MMITECH? BJA left b/c he had shorted the last run up.. in other words, he was betting against it and lost. He came back and posted in the $490 area, and lectured that we should short... Same kind of stupid stuff that you are saying. I guess, two peas in a pod, you and him, no?
