Topic: Wall Observer BTC/USD - Bitcoin price movement tracking & discussion - page 26690. (Read 26611032 times)

Yay!!! I set off a s--- storm before going to sleep. What a delightful thing to wake up to. Anyhow, them graphs and lines (technical analysis) don't work for s---. No, it isn't because I haven't learned how to use and appreciate the inner-beauty of graphs and lines. Part of me just wants to say it is simply because the s--- is useless and akin to interpretive dance on paper. But, I suppose in some markets it will tee you off trend... Here, however, with the volume fluctuations, the sensitivity (and recently changing sensitivity) of the market to outside forces and news, and other non-traditional behaviors of niche market v. established market participants... the f---ing lines are meaningless. Got it. You peeps keep posting groovy looking graphs and sometimes two people will say a graph says the price is going to $5000 and another two people will say that the graph says the price is going to zero and low and behold the price stays the exact f---ing same. It's funny, but Jesus.

+1 to BTC and DMT

Amen

I have all the best gifs  

It is funny in more ways than one indeed-  it was an actual quote from the late Terence McKenna (the gentleman in the gif) - it fits so well in this situation !

The actual quote should be in here somewhere-


http://www.billyvegas.us/terence-mckenna-nobody-knows-jack-shit-about-what-is-going-on/    Bitchick this is for you too.  

I had hoped to meet Terence one day but he fucking died before I had the chance.

That DMT - just wow- now if you want to talk to me about religion (please no) I can handle it if you want to take a nice big hit on a DMT pipe
and then when you return- we can talk    

Without sounding too mental- I have seen shit man! ha ha I remember when I first tired DMT - it was 18 years ago- I was working for a very slick offshore co, and anyways I did a whole bunch of the stuff one night at a party- I was the guinea pig ha ha- anyways I went to a pyramid.... on my mothers life- crazy it was- then about a year later I wa online and I found out that hundreds- of people have been to the "same" place.... oh my oh my... I was even describing my story to a total stanger once- and basically he interrupted and told me and the room of peopl eI was with how it finished and he was 100% right- to this day one of the most astonishing experiences in my life....(more so the books written and 10s of thousands of people that have shared this journey/group hallucination whatever you want to call it)  mad stuff- this is not a recreational drug - fuck no , makes "drugs"  look like a toddlers toy- same ingredients as in ayahuasca.   DMT is a religious experience like no other I am sure- I am not suggesting you try it- but  try it ha ha ha (if you are brave, sound of mind, do not have a massive and frail ego and have large balls)

Explanation

Lol 1BTC, he just needs to secure a private key. Unfortunately it'll have the same effect as heroin, and he sees what happens once you secure Bitcoin you become a zealot. It alters your brain chemistry 

Anybody remembers when the 3d bins are closed on Bitcoinwisdom? Currently, 3d MACD bars are red for the first time on Stamp, Finex and BTC-e and for the third time on Huobi .

Explanation

Thankfully I am on holiday, and I cannot be arsed to log in and dig out the older charts, or the updated ones... but you get the picture that was a solid range... if you would have day traded it, with a good strategy, it would have been profitable.

Anyways who cares tbh- as I say I am not a day trader with BTC, all I am interested in at the moment in the narrowing channel we are in.....
everything points to it going sideways until it does not- how is that for some intellectual honesty.

All I really care about is 0 or 1 - so maybe I sould duck out of this TA conversation tbh...  I am sure there are people far better than I to fight its corner or not.

I am going to go and have a large alcohol and something now.

Let me know when we break out

Peace

ps I have a ton of charts, and a ton of tables I often overload them with info- I have down trends plotted on the same chart along with up trends  I like to overlap timeframes and up trends and down trends and fib levels forks and their trigger lines, from different moves etc...and  all sorts - they are a bit of a mess to look at if you are not the person that made the charts, I do not post them like that- I clean them up/seperate them out so others can hopefully make sense of them... and it all depends on which timescales you look at the charts, hence the several different charts above I have the same chart but form july 1st-4th and the one from the 8th (I did post one with the fib levels on the 8th) not the matching one I see- knocking about - will dig it out when I get back from hols and update it (with the recent bars) ... and if I remember maybe post it along with  table and notes- it has the fork from the down trend on it too.. which makes quite interesting viewing -  Anyways I hardly post charts- or fib levels - I do not really like people to see them in case they decide to trade off them (I had an incident many years ago with a twat on a gold forum- what a plonker)

pps -Anyways- since Timmy D got his stash =  Sideways - until it is not...  at this stage I do not care which direction it breaks out- (I still think up, but down before a up would not surprise me too much either, and even if I did have a strong indication I would be reticent to post it here- I prefer to be as ambiguous as possible and if I do post a chart or levels to let people draw their on conclusions tied in with their own view, ainly becaue I am bullish, and I do not want anyone crying or moaning at me one way or the other)

ppps- Eitherway I may have to go and pee in the sea from excitment or something.

pppps- I need to get a life- this is simply not what one does on holiday.

Thanks for indulging me in discussion for a few seconds. 

they work just fine if you know how and what to use, beside, I was talking for the last couple of months about how the price is going to be somehow stable and not move that much ... I really don't get your frustration.

I think when using TA with Bitcoin one must use the most basic stuff like trend lines, past support/resistance levels, volume, instead of the most sophisticated indicators which can be helpful for experts but can become not so efficient predictors and they don't create the self-phulphilling prophecy scenarios of the more basic stuff like trend lines.

I am not talking religion- my mistake I was not preaching.

Good luck and much love to you all- not my bag thanks.

Peace.

There might be "more spirits" but are they the spirit of truth or lies?  That takes discernment.   Not everything that sounds "good" or seems "good" is.  So I agree with Bob Marley's lyrics at some level (the lyric It's not all that glitters is gold has much truth in it).  All religions and beliefs have truth woven into them, otherwise no one would follow them.  The question then is what the real truth really is.  

But he hailed Haile Selassie. A tyrant is ok, as long as he is a black tyrant. Yeah, right.

Maybe you should --- more spirit in his words than in any religion on the face of this green and blue home of ours. imho

As an indicator in BTC they work well to aid in decision making... did you notice that weeks ago BEFORE it happened I posted sp and rs levels , and note that I had been absent for almost half a year, but then I decided to post just as it stabalised and I noted that sp levels 609 was important as far as I saw it... and I would be paying attention if we went to it or past it, or bounced off it..we did, and I also posted fib levels 601 below it, 609 , 614, then 929- ans since I posted that (not a prediciton but tools I was using to see what is happening) we have bounced MAINLY literally inbewteen
614-629 - If I was one of those day traders/dumpers that you hate so much I could have had a field day past 3 weeks... really and that is the fact of it...  we have not gone lower that 601- and we have touched 629 and bounced off it in a very clear fashion...  if I was of the mind to swing trade and buy and sell at 614- 629 on leverage I could have had a field day -and I had a pretty good idea, this was going to be the case and that we were going to start to consolidate and swing between those ranges...  now if it is not good enough that I posted these levels BEFORE it happened then fine...  it is not as if I posted those levels AFTER it happened , which you seem in infer is the only way TA "works"  now, I am aware and very much expecting a break out , and soon one way or another- note I am not predicitng which way- but I do have a visualisation of how low we have probability to go , or how high- and from there if I so choose I can then dial that in with my risk assessment, and banking strategy and start to make desicions... if that was my bag- which it is not (I do not day trade,short or go margin BTC)  but if it were I would almost always come out better
by using TA to access probable, and that is a key word probable entry and exit points - only coupled with risk and banking strategy...
The alternative is to point and guess...gut feeling  which I know from testing over the years does not work too well.

That being said nothign works all of the time... at all, and some may say it does not give any edge at all- for me TA along with risk and banking strategy is tool to help make decisions and visualise the market, and make trading decisions without EMOTION especially when the market moves quickly.  

Also if you accept that many many traders use TA, and fib levels etc and many robots and algos too- then there is an edge to be had because there is a certain amount of the market that 100% DO use these tools in almost a self fulfilling prophecy- that if you are LESS greedy than te other using the same tools , there are consistent profits to be made.

Once again, this is not prediction- it is a tool, and used in the right manner- it is effective in my humble opinion.

Thanks TMcK was the man.  
 

It's funny because it's true!

"They don't work. As the last 6 weeks clearly showed."
Why do you say that? What in the past 6 weeks was that unexpected?
All the past months showed that the BTC market is really predictable (at least for the major most profitables trades).

Absolutely not. I predicted (and others did the same) the confirmation of the trend reversal with the sudden jump from $450-$680 before it happened with almost perfect accuracy. Nothing hard really.
I did the same thing with the $340 bottom which was very predictable looking at these types of trend lines (but didn't post it here, I wasn't posting much back then):