GOES UP A FEW PERCENT - "WE ARE ENTERING A BULL MARKET" LOL

The level of delusion here is unreal. Have you forgot about the 600 dollar pump last week before the downrise? Have you forgot about the downtrend that will continue at the very least for a few months? Jesus, I've been in this game for a long time, but I didn't emotionally attach myself to an investment and short when needed and bull when needed.

Nothing more amusing than people here shit talking about TA, while they consistently hold and lose money. Let me give you a secret.

There are two kinds of whales in this space:

1. HODLers but only if they were holding for a long time. Many of the smart HODLers who have tons of cash (we're talking 10+ millionaires) have now switched to 2.

2. Traders

Since 80% of trades lose money, most people don't even think that they are whales. But for the 20% of day traders who do, believe me, they have more money than you can ever imagine.

Thanks for believing in this failed experiment, thanks for thinking that every new experiment is successful like the web, and keep up the HODL illusion! After all, you guys are the ones we make money off of.

Fuck, I miss the times when this board wasn't infested with betas from circlejerkers from r/cryptocurrency (most of which bought above 15k, and continued to HODL), where people gave a shit about making money full stop. Not just through a bull run.

t. nocoiner

the % of traders who lose money is actually 90, but i do agree with you that too many traders (especially) the ones on biz are what we call "emotional" traders where they only see what they want to happen, not fundamentals.

Kill yourself
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You don't even need fundamentals to trade. The problem here is most people think that traders just look at peaks and bottoms. I can't blame them though. They're most likely 20 year old NEETs who have never studied statistics in their life and repeat mantras.

60x in 12 months. who really cares about a routine post-bull-run dip like this?

always do the opposite of biz
short now
when people start shorting
long

I predict that 90% of this thread will be filled with "kys", "lol you probably sold the bottom", "you're a no coiner".

10% will be filled with reasonable responses from bears this year who were bulls last year. Even looking at the mere difference in the way these responses will be constructed should tell you enough.

what % of your stack is investments vs trading capital

what indicators/meme lines do you use

user I am a hodler and I would say I am kind of emotional attached to my hodls because I believe in the project, is their something wrong with that? Not being smart just assuming you guys might know more then me and want a bit of advice

ok maybe fundamentals was the wrong word. But what i mean by fundamentals is things like fib retracements and how they actually work, rather than what they show you.

>I'm gonna create some really good FUD today
nah.

> Crashes by 70%, calls it a dip

I was at 40X and quadrupled that to 160X by following the market, not circlejerkers. I bet you were at 60X before this month.

yes there is something wrong with that
99% of these shits wont survive, learn fib levels so you know when to sell and when to buy back

by emotional i mean they put a bunch of fucking lines on a chart and think "yes i must be right cause i put those lines there"
Being unable to take a loss and admit you may be wrong in a trade is in fact emotional trading.

answers please

Emotional attachment is what makes you lose money. It can turn your 60X gain into a 5X gain within a few weeks in this market.

For the few that got into this market very early (with sizable investments, not puny ones), this might not matter. But losing 70% of your money whether it's 100 million, 10 million, a million, or 10k is a fool's errand if you're going to emotionally attach yourself to an investment.

As of right now, I have 80% of my money as part of trading capital due to the bear market. I only do short term trades so I don't give a fuck if this continues to be bear or bull. However, this downtrend should continue for a few months atleast.

I am planning to move 100% into my trading capital. My trades are never more than 4-5% of my total capital.

Indicators: Mostly the EMAs following a trend after it's established for quite a while, Stoch RSI, and when the stochastic hits its extremes.

did you call the top before this downturn?

It's going to moon this week. You will see. But keep telling yourself you're not the reddit faggot

I called the downturn, not the top. It's very hard to call the top obviously. I started shorting since 15K when I was sure.

Let me take 5 mins to explain the fundamentals of a FIB retracement and why i think this is still a bear market.

In a Unethical market:
You get a bunch of sellers, price goes down, more people see this (the 10%) and start selling too.

then some of these take their profits and close their trade and the price starts to rally again due to this


When the fib reaches a certain level (normally 50% but i like to look at the 38% levels
All these guys come back and short once more and price begins to fall and more and more traders start shorting.

The SMART money are the people watching these FIB levels, its sort of a tactic so they are all in synergy and somewhat work together to make profits.

These FIB levels fail only when you get a massive amount of sellers exit all at once and buyers (the emotional traders ignoring the trends) start buying thinking the trend has reversed, but the sellers arent falling for it, theyle just wait it out till the buyers get somewhat exhausted or panicky or until the 100% fib level is broken which would signal a change in sentiment (in other words it takes a fuck load of buyers to reverse the trend)

Im not here to destroy your dreams of a bull market or whatever i dont watch this crypto shit cause i dont trade it, but when all i see is THE BULL RUN HAS BEGUN BLA BLA threads coming up in a market thats been in the most intense downtrend ive ever seen and it is following the fib rules i just cant get over how stupid people can be to trade and not understand this common strategy in experienced traders

Looks like my prediction was right: See:

Compared to:

Fib retracement is garbage, if you believe in that shit you are ultra gullible. Probably doesn't even perform better than a coin flip.

I know why it's going to moon this week but I feel it's wasted on an idiot like you. I will give you a hint if you're nice.

This is a copypasta. Don't fall for this whale FUD, he's just trying to make you panic so price goes down. The cuckold probably bottomsold at 6k.

I don't have any opinion on fib retracement actually (never used it), so I don't disagree with you on that. Was just pointing out the difference in responses.

It will only enter a proper bull market if it dips back to 6k.

Apologies, I thought you were the guy thinking he was "smart money" for using a fib chart, kek.

Crypto will hit 8 trillion marketcap minimum so I aint even mad

FIb retracements dont work 100% of the time just like any other indicator you use but feel free to laugh.
Using a fib retracement with a well placed stop loss is something traders do, placing a order without a stop loss in the hopes that the market will just do what you want it to do is emotional trading.

I can draw random lines on a chart and trade based on those lines with as much accuracy as with fib retracement. Do this: open a random chart, go back a couple of days or whatever on it and start drawing a few lines up high, down low, etc. Then go forward and see if the reversals fall on or close to your lines at least as well as with a fib retracement. You might surprise yourself. At the least, prepare to be enlightened.

If you use fib to identify support/resistance you are 100% falling for woo bullshit. Full stop. Feel free to prove me wrong with something empirically verified though (aka rigorous backtesting and forward testing stats)

>I am kind of emotional attached to my hodls because I believe in the project
Most likely it's a problem, yes. There aren't that many projects that are actually good. TA gets a pretty bad name around here, but I think their main advantage is not a superpower to clearly see the future but that TA traders at least go into trades with an exit strategy in mind, this is the opposite of HODL to 0. If you have 5 coins, maybe you're doing OK, but I've seen folios with 25 and that's just insane to me, muh diversification. It's OK to have some long holds, if all your folio is like that I think you're kidding yourself, at least try to mentally order them by how much you believe in each coin even if you believe in all of them, it may give you a chance to drop some actual shitcoin on the next rally. Even selling something at a loss can be productive if you put it into something that gives you a bigger margin, you don't need to make all your trades succesful.

I never said i use fib to identify support and resistance cause i get that information just looking at the candles and price action from previous days?
I Merely use fib levels to keep an eye on what other traders may be looking at, and 80% of the time they work.
The only indicators i go on are volume and maybe the CCI

kindly asking why you think that, good sir

>80% of the time they work.
thanks for playing but I asked for actual empirical data

>Reddit the thread

These guys will get raped. Its going fcking down you retards.

post some brap and stfu

But I bought at 6258...

forgot that..

I already just explained that the fib retracement is just a common level that traders watch? i dont know how i can put it more simply than that, either way i can tell youre getting a bit edgy so im just going to leave it at that.
Tho i would like to ask you why you think bitcoin is going to moon cause i could use the entertainment, but i already know the answer, "because you want it to"

t. Salty poor triggered faggot. Nobody else cares but you

there's more larping goes on in /biz than there does on /pol, and that's really saying something.

>I already just explained that the fib retracement is just a common level that traders watch?
This isn't an actual answer. Just because you say "it's a common level that traders watch" doesn't mean it has any effect on price action. Do you have any actual evidence that buying on fib retracement outperforms buying on randomly spaced intervals? These are the kind of questions you need to ask yourself if you want to trade on something more than your emotions and tea-leaves.

>Tho i would like to ask you why you think bitcoin is going to moon
I'll give you your hint: Something happening soon is going backwards.

I never said it has any effect on the price action?
Where are you getting this?

it is not about "going up few percent" you literal dimwits

it is about trend reversal.

Backpedaling already huh?

Feel free to provide some hard evidence that Fibonacci retracement does anything at all.

I feel very tempted to short run get now after reading this thread which means it’s probably going to shoot to $25k

If I get three you’s I’m going to short BTC and turn this bear market around

Nice post OP. I agree we are not out of the woods yet. Who gives a fuck what biz thinks

Do it faggot.

exactly. who gives a fuck what biz thinks. majority of biztards are desperate cucked bottomseller fags who who realize their meme lines won't bring BTC magically to 5k again for no reason. nothing but "5k meme" spam. too scared to buy in while they already missed the first 50% to 9k.

Fucking hilarious brain damaged biz cucks, chanting 5k like a rain dance
>TFW BTC 13k next week

tl;dr

proof of short or gtfo

I think that if you are a holder you must have some kind of emotional attachement (=believing in the project), especially if it's a long term project.

It mooned and then corrected to more than double the previous market cap.

Thing is, you're thinking in terms of USD value. None of the most successful traders I know do this. It's all about increasing the number of coin you have until the big moon happens.

This. It hasn't even started. If you get in before there are crypto pos machine at your local grocery store, your going to be fine.

Someone got his short liquidated

Then it's useless