I am not trading from these charts anyway , I am a fundamentals guy...
A fundamentals guy. Got it. This must be why you're defensive about charts you took such effort to create. I may be in the market for bone divination if you accept Bitcoin.
SO the price was stuck there $817 for around 12 hours (now almost 24 hours)
Except the Bitchslap price *hasn't* been stuck at 817 for 24 hours. It hasn't been anywhere near stuck at any price except during their maintenance period. You'd have been better off telling me it would be stuck at 824.4 during maintenance, but you couldn't even guess that correctly even though they announced the maintenance ahead of time. Unfortunately not only can't you tell the future but you seem to have trouble faking it even when given a leg up. But don't feel bad, no human can see the future with better odds than luck provides.
Added to that I have stated yesterday that we a trading sideways at around $820-$ 825
I thought we were stuck at 817?
Added to that I have stated yesterday that we a trading sideways at around $820-$ 825, I also stated that I see us going up form here , but that there are downside supports, and I have stated the levels going in both directions that I see resistance and psychological resistance and support...
Careful, you're heading toward intellectual honesty. "It could go up, down or sideways."
I am basing the figures on FIBBONANCI RETRACEMENTS VOODOO (a form of TA that I did not invent by the way)
FTFY
and I say that this is only valid if the breakout occurs now, or within the next few weeks.
So you'd like a month for your fortune telling to come to fruition? That's some mad solid skillz you gotz. I would think if you're so into fundamentals plus TA you might be able to narrow the time frame down to some specific times and dates. Silly me.
So basically I posted a scenario and so far it as played out...
Except it didn't. You've deluded yourself into thinking it did. Are you sure you don't believe in this stuff as you claim? You're just posting it for fun, right? You're a fundamentals guy, right?
the "magic price" could have traded to ANYTHING in the last 24 hours but it has not.
The price, which is anything but magical, did trade at various price in the last 24 hours. If you can tell the future you should be able to help Bitcoinity out by providing them with all their charts into next year.
What I was trying to point out is there MAY be some resistance points around fib retracement lines.... so I posted the retracement lines, and their pivot points... out of interest… on this price movement and speculation thread..
What's happening here is that you're human and you think you saw some pattern in the chaos. The intellectual side of you understands it is bullshit, but yet, you saw a pattern and being intellectually curious want to understand why. So you learn a little about TA fortune telling and it seems to make some sense, strengthening the bias toward the patterns you see. Now you see even MORE patterns: confirmation bias.
In an effort to gain some confidence and seek approval from peers you posted your confirmed nonsense "just for fun". A bit concerned about posting your brave new
astrology TA discoveries, you were sure to tell us up front you're just kidding around, you still believe in "fundamentals." Yet you vigorously defend your
star price data even though it is plainly vague and downright wrong approximately 50% of the time. I guess I should say 66% since the price can always go up, down or sideway, making any guess @33% correct.
I have used in the PM market to sucess myelf (sometimes)
And many times not, though I'm sure you don't count the losses.
and seen it used a lot by old timer traders that have been in the game trading for 30/40 years
If these old timers knew the future why have they been trading for an entire career only to retire with less money than Bill Gates? Surely if their voodoo worked they would all be the wealthiest people on the planet solely from trading precognition. They could publish their precognition rules and any human would be able to follow these rules and become the wealthiest people on the planet. Strangely this hasn't happened.
I can just go back to posting pictures of flying trains... choo choo, my kid likes it when I make the noise.. oh how he loves it, maybe I shall get him to post (he would probably be as accurate as most here, myself included ; )
As annoying as that all can be at least it has the honesty of emotion, hopes, dreams, without trying to call it "science" which is what TA proposes (always with a hedge of course). The hedge is necessary because it's all horse pucks. Go ahead, give us another "channel" that might go up, down or sideway within a few weeks.
it was as I say a bit of fun, and I just wanted to use them buzzwords I think.
I haven't even seen you post a lot of this TA gibberish, I've just been watching many folks post this nonsense for so long and you happened to catch me at a bad time I guess. I've watched America be mired in superstition for so long, I just feel like enough is enough even in this international forum. Anyway, onward with your TA and buzzword usage, or CCMF and all that. I'll leave you alone now.
Jeez... ok you are entitled to your opinion : )
I said that we are waiting for breakout, or I am anyway , and on the downside from a starting point of $825 I gave the next support level of $817 - before it got there... and then I stated if you read, that the resistance level above it was $825, and that the next support below it was $800. If you actually look at the chart, using say the 2hr or the 30min or the 4 hr even on Bitstamp and you can clearly see it has
pivoted on and around $817 for considerable amount of time now. Draw a liine at 817 and note the open and close dotted along $817 for the past 24 hours, that $817 was a Fib retracement from the last ATH..
See it or not, that is up to you... it was only a curiosity as I had wondered before it occured if it could be a sticking point, like I have also said, I am not even trying to sell anyone on any form of science, other than, even if it is just because other traders DO use it, then it is a tradable tool? IF it works, and the only way to see if it works in cryptos as it often does in PM's it to look at it
Also actually there is NO indicator that works all of the time, and if there was there would not, could not be a market as we know it...
and the key word here is indicator, it is a tool is all, and if you believe in it, or think others belive in it, it could help give some insight into price movements..
Alo you know if you look and read my posts, I think you should be able to see I am not calling this a science and claiming 100% and that it is going to happen, not even 50% I just made an observation, and actually, you at this point saying it is bs , well yeah it probably is, as I have myself said, but ermm so far it
has actually
pivoted around $817 , draw a line on a 1hr or 30 min Bitstamp graph around $817 and zoom in and scroll back through the actual price action for past 24 hours, and you should see the bars straddling touching and flitting either side of $817 , and if there is a break out of within $3 it seems to attempt to break $825 and does not, and if it falls it make like it might dip out past $810 and not $800 but it does not... so it has traded within the $825 RS level stayed mainly around the $817 pivor level and not broken the $800 SP level, that I stated were
possible and it has done so for the past 24hrs... not amazing, not shabby, and at this point does not mean much....so basically give me a break, or don't it really does not matter.
And yeah I am a fundamentals guy- take me for my word or do not up to you... but I am, I have an interest in TA but I think especially with BTC that fundamentals and news and the tech are key. I am certainly not trying to BS anyone of convince you of anything... like I said
I did not invent fib retracements, nor was I the guy that spotted the golden ratio or phi, so sorry if I come across as anything other than
an enthusiastic poster..
I posted my "predictions/scenario" for fun as I stated- and I am sure you can have a really good laugh, when we do not hit any of the next potential RS/SP and pivot points, they are pretty specific so it is most likely you will get your laughs... so enjoy.. I respect your opinion and your right to one and laughter is good for the soul.
Edit
ps I
have already given the channels and pivot points I see it possibly going to over the next few weeks, thats what the rest of the numbers and pivot points are.
