BUY YOU CUCKS ITS REVERSING

bull traps are good for shorters though.. Long or short, the opportunity to make money is everpresent

This is a classic BULL TRAP... learn this pattern and trust it.

It is a bull trap, but the bull trap will take BTC over $1000

You should notice also just by reading these comments that perception of the Coiners is "Denial" and "Return to Normal"
Some years ago I made this same mistake with gold... you only make this mistake once in your life and you learn from it; but if you're smart, you'll learn from the mistakes of others.

It will take it to sub $400 first

>I made this same mistake with gold
Silverbug here. I knoe that feel bro

Glad I sold my BTC during the crash a couple of days ago. I'll wait for the bottom before buying back in.
>implying I know where the bottom will be

If you're crazy and think BTC is still rising, then a fair strategy would be to wait until it had closed above $1020 for a few days and the upward trend had returned. (But like I said, you're crazy)
Don't try and catch a falling knife.
Take a look at th 10 year gold chart. Look at the pattern, then look at the "anatomy of a bubble" chart, then look at BTC... and understand.

I'm not crazy, hence waiting for it to bottom out before considering getting back in

There's enough volatility in BTC to at least make some quick money riding the boom and bust wave. I'm not looking for a long term investment here

Return to the mean would mean around 820 in this case (1w MACD is near that value).

already completed my order

enky says 720 would be a decent place to buy back in. do it up.

>mfw this is nothing but a bear trap

>ywn have bots

truth is it could be a bull trap in the short run and a bear trap looking back 30 years from now. but right now anyone that calls it a bear trap is a fukken retard.

A lot of people being retarded here, literally looking at lines and thinking other lines will look like those lines.

What influences bitcoin (and indeed any commodity/currency) is geopolitics, not chart patterns from the past.

And with the dollar set to moon under Trump, you can bet your ass people in China, India, Europe, ... are going to be looking at things like bitcoin to keep their wealth from disappearing as their currencies shit the bed against the dollar.

>people in China, India, Europe, ... are going to be looking at things like bitcoin to keep their wealth from disappearing as their currencies shit the bed against the dollar.
>looking at bitcoin
>to keep your wealth from disappearing
>putting all your wealth on a pump and dump, extremely volatile cryptocurency mostly used by drug dealers
Sure thing, bro.

The Dollar is only getting warmed up, and yet that was enough to make bitcoin shoot up because of Chinks looking to dodge the Yuan as it takes a mild hit against the USD.
What do you think will happen when the dollar starts heating up for real?
Mexico is feeling the heat first, and they're entering full panic mode.

>extremely volatile

Bitcoin is a lot more stable than it has any right to be at this market cap.

The last downtrend lasted about 16 months, and the last uptrend also lasted about 16 months (and is likely still ongoing, despite this dip), with a couple of stable sideways months in between.

We have years of strong USD ahead of us, with the EU, China, India, ... all looking to stagnate or deteriorate.

Choo choo.

It was just a correction, it just seems big since we passed the magic number 1000, but in reality it was just a few percentages.

Should I buy dollars non murican here

we reached this point 3 fucking years ago when there was literally only one exchange

we have mass adoption and a massive bullrun leading up to a psychological barrier and a correction that had to happen but didn't start until yuan went the wrong way and spooked the chinese

bear trap

Yes, if the trading fee is right

t. non-Murikan

Sure looks like it.

But never just take anyone's advice, certainly not some user on a Tierra del Fuego-an sharpened birch branch collection board.
And never bet what you can't afford to lose.

The dollar is the safer bet, but any trust you put into the dollar at this point, is also appropriately put into bitcoin, which has potentially much greater returns.

>bear trap

This.

Also, a lot of people seem to be confused on the terminology "bear trap" vs "bull trap".

A bear trap is a dip in the road UPWARDS, which ensnares bearish traders (i.e. those who think it's going down).

I believe BTC is still going up. Take a look at the long term chart. You can see the chart going parabolic in Nov15 and June16 followed by a sharp correction. My guess is that its the same now and we are still in an uptrend.

No coiner here. When do I put my chips in for bitcoin? If it drops to $700 is that a go?

No one knows where the bottom is. in the medium term to long term though you will make buckets buying at sub $1000 prices so keep stacking

the elites will crash things in march

t. chicken bones, coffee dregs, and fish entrails

>mfw it might actually reverse

There is still weakness in India and China so it can go up but eventually things probably will stabilize

Russians will start dumping BC after sanctions are lifted

You mean go back up?

Dips don't "reverse", trends do.
And so far there has been very little indication that the upward trend from the past 16 months ever reversed.

Yes.

Quit fucking lying there was more than one exchange.

Fucking shills.

>we have mass adoption and a massive bullrun leading up to a psychological barrier
dude by definition there are no bear traps in a bull run only bull traps.

you just outed yourself you kike nigger.

Yes, please invest more, friend.

I'm waiting for that "return to normal" phase to peak, and I think it will make another pass at 1000 before falling again. I bought in at 600, so I've got room to manage if I miscalculate and still sell at a profit.

But that's wrong.

Read the definition again.

bear traps prelude the bull run neger, keep on lying!

Bear traps are dips that fool people into thinking the uptrend is over when it isn't.

>when it isn't.
It's not going back to $1000 anytime soon, lel.

but when a bullrun starts that's long over dude, if we are in a bullrun then it's over and only bull trap left. but like i said in my original reply it can be a matter of perspective. but locally it is what it is.

We're talking about the definition of a bear trap, not bitcoin.

Read the definition. You were wrong.

>Read the definition. You were wrong.
you are an insufferable moron this is a bulltrap pretty clearly and i will fucking laugh my ass off at any fucker that buys into it.

I'm not going to argue over what you think is going on with bitcoin right now.
You said "by definition" but you were simply wrong about that definition.

look at pic related: when the bull run begins, the bear trap is long in the past.

You were wrong. Deal with it.

You even said there were bull traps in bull runs.
Seeing how bull traps by definition only happen during downward trends, that's impossible.

no it's part of the bull rush the end part but when all hope is lost that's when the bull run ends.
when everyone goes crazy and irrational that's when it begins on the steep climb.

You have no business being anywhere near investment trading if you get this emotional over being factually wrong.

but it is you who is wrong you fagget, bear traps don't happen in a bull rush they happen before.

Bear traps happen during uptrends.
Bull traps happen during downtrends.

You literally claimed the opposite.

no i claimed bear traps happen before bull runs and bull runs are ended with bull traps.

For it to be a bull trap, there has to be a prior downtrend. That's the definition.
Therefore, a bull trap cannot occur at the end of an uptrend.

Now get off my lawn.

You buy when it breaks out with volume, retard. Even then it's ideal to wait for a backtest. It could easily fall out the bottom

but the bull run is not a clear cut uptrend you insufferable moron the bull run concludes in the bull trap after that there is only down. the bull run begins when the market loses rationality and ends before it falls to despair. there is uptrend before but not much after.

>but the bull run is not a clear cut uptrend
There's been a clear-cut uptrend for over a year, genius.

Can someone pls explain volume to me?

I'm just watching the bitcoinwisdom chart and it says volume is disabled for BTC

you say that like that means anything in the context.
the bear trap in this rally was under $400, early 2016

You have no idea what a bear trap is.

that was the classic bear trap nigga just look at the fucking price charts and you will see it clear as day.

>This is a classic BULL TRAP... learn this pattern and trust it.

no, mean is around $200. It will drop back to it.

dude what you are saying makes no sense, you say it's not a bull trap but it will drop below everyones wildest expectations.

itt

How do i start with trading? UK, here. What wallet would you recommend?

When will you coiners learn about bull traps and fomo?

Never buy fomo and do not catch falling knives.

You blupilled warriors luv stabbing eachothers backs.

btc-e.com
gdax.com
coinbase.com
kraken.com

Can someone explain the whole bitcoin thing to a newfag? I heard about them many years ago when I was underage and thought the idea was cool, but not yet being independent I wasn't able to even consider jumping into this

someone please give me a tl;dr

is it possible to stay 100% anonymous while using bitcoin?
how do you acquire bitcoin without compromising personal information?
can you cash out/convert it to solid, paper cash anonymously?

Nah, it's a bear trap.

>All those nogs propping it up thinking this is the most it'll dip

Nah, I'll wait until the crash.

>buy at $832.001
>sell at $832.000

Brilliant bot mate, wanker

this is a classic "diving duck" trap

Good job converting the price of that model car to BTC post Q1 2017, you forgot to remove the dollar sign though.

But you see, I don't give a fuck about the dollar.

I have a kraken bot

...

erhm- um yea hi there---
the correct term is dipping duck.
get your terminology correct before you post on this mongolian basket weaving neet circle jerking wallet comparing board.