newfag to memelines here. Does this mean 7880 is being rejected and we'll see a slight uptrend?
Newfag to memelines here. Does this mean 7880 is being rejected and we'll see a slight uptrend?
it does not mean anything
it does, for a while at least, but it doesnt matter, people on this board will tell you were going to 3k no matter what they see, alot are tethered up
YEAH THE FUCKING THING IS GOING UP
THEN WALK TO THE FUCKING SIDE FOR A WHILE
THEN FALL LOWER THEN WHEN IT STARTED
LIKE IT HAS BEEN DOING FOR ALMOST A MONTH NOW
FUCK THIS IS WHAT THE FUCK FUCKING THING FUCK
there's a wall there, nothing else, it might break it might not.
I mean it could eventually find it's way to 3k, but why not make money on the way?
I THINK IT IS LITERALLY GETTING WITHERED AWAY BUY BOTS
THEN A MASSIVE FUCKING WHALE ASSHOLE BUYS IN
LIKE A REPEATING CYCLE
It just keeps going lower and lower.
Drawing lines means nothing. How are you this fucking stupid
>using heiken ashi candles in 2033 - 15
btw OP that's a great example of why the fuck MAs literally mean nothing besides the 50/200 daily's for possible resistence/support.
The 3 ema crossed over in your pic before that big downward movement. Any idea who thought the 3 crossing was bullish got fucked
it means zoom out faggot
What do you think a 'slight uptrend' means you fucking idiot?
basically this. It means trading has slowed to a crawl and arbitrage bots are using the opportunity to settle margin calls.
absolutely nothing if you zoom out
the absolute state of Veeky Forumstards...
Bears are relentless right now. Don't assume they can't dump thousands more BTC, because they can.
Volume is really low. I think it more just people are disappointed in it not moving at all and not trading.
depends if mtgox is done dumping
They have tons left. They are just waiting for retards to pump it back to 10k
...erm, you might want to check that.
(1) It means some stupid leveraged late-to-the-party shorts got rekt for quick bucks
(2) It means no-one is buying BTC at these prices, so we are going down
Are you allergic to money or something?
>hurr durr I'll just watch it dumb instead of playing the slight pumps
Up 60$ from my OP. Could've longed retard
rejected you say?
>babby's first bear flag
Wow! It almost looks like a slight uptrend.
And yes I'm aware there's a bigger channel down so no need to post it.
I would go long from here, but honestly anything can happen.
Please take a shotgun like that r9k faggot and an hero already.
pretty much ... its like riding a dead horse - keep kicking it
yes, keep trading on fucking 3 minute timeframe so you can stay deluded
You want me to day trade with 8 hour candles you fucking mong?
skimpskomp award of the day: the OP
look, while it is nice to feel like you are making money and the numbers are moving on a short term basis, the downward movement is large enough and sell pressure great enough that you will make a lot more money buy trying to capture the big moves instead of trying to skim some profit off of every little bounce and dip.
this is because you can't take size and really move your average price around on such short moves. start stacking in short positions whenever you see relative peaks. don't close positions. simply continue to scale into your position at the best price possible. if this means bringing your average price down somewhat, that is okay as long as there is still room to move down. this way, you can use leverage to scale in some very large and very profitable positions.
just like with fomo when the price is rising, it is okay to chase the price down once there is some distance between the current price and your stop loss or liquidation price. just make sure you know when to cut and run, which is honestly easier to identify in a panic drop than a fomo run-up
I had something like 30k of 5x margin positions that I closed after seeing 1.5k profit, and thought we would see a small bounce. I am now working on getting that size back as we did not see the bounce, and if I had left them open I'd currently be another 30% or so up.
take a sizable position with a decent price, and learn to be patient and go do some other productive thing with your time.
step away from the charts, and if you feel the need, you can check the price on your phone every couple of hours, but step away from the computer after taking position, and let it ride. if you start feeling anxious, reduce your position size by at least 1/3rd, and step away again
funny you say that because Veeky Forums is like 65% perma bull 20% retards, and 15% bear.
No it's when the 55 EMA (yellow) is below those other 3 that it's a buy signal. Combine that with oscillators and context of the market and you have a pretty solid buy/sell signal.
On the higher time frames it's very accurate and almost never gives fakeouts. For reference we haven't had the 55 EMA below the others since 19k I think. That's on the daily.
i've opened my short at 599 and i'm riding it all the ways down to 500
>buying dips in downtrend
top fucking kek
fuck I closed my short at 77% ROE. I'm trying to develop a more disciplined approach to trading. I'm pretty SURE we're going to 7.2, but I wanted to lock in profits after a losing streak. Now I'm feeling huge fomo. AGGHH.
>cut you profits, let the losses run
anyway, try positional trading. i wrote a strategy using ichimoku and i simply follow the buy/sell signals without second guessing. it's hard at first but it's definitely possible
use major support/resistance and learn how people react to the charts through your own self reflection.
the most recent low was 5800, and we don't have very solid support. we have a few big moving averages and some other miscellaneous stuff, but when we break a previous low, the market enters a panic, and then bounces.
shorting in the panic is a very bad risk/reward profile, but if you have a short from before the panic, let it ride, and if you want to take profit, take 1/3rd of your current positions size.
so if you short 3 btc, first profit is 1 btc, so your position is now 2 btc, next profit is .66 btc so you have 1.33 btc etc.
that way you continue making gains and decrease your exposure to the market as risk increases
but when you see a big panic/big bounce, it's a good idea to get out, and start to look for longs
same principle applies for riding the big moves up
take position and if you get that nervous sweaty palms "i need to close now" feeling, sell 1/3rd and let the rest ride until you see signs of a larger reversal of trend at which point close positions and start opening positions on the other side. this goes for leveraged or unleveraged trades. maximum risk comes from trying to trade with the trend in times of panic or fomo. as unbelievable as the gains are, this is where you need to be scaling back your positions and taking profit
No get a job
textbook bear flag. It may go up a little(consolidation) then another few big red dildos