Same fundamentals. I was here when Bitcoin hit 19K and told you 13,500 target next. Happened in a few days. I also came here at Bitcoin 16,500 today telling you it's going to hit 20K. There is no magic. This is how markets work. Machines run 90% of all volume in stock market. Who programmed the machines? Humans!! And they programmed them based on technicals. The greater the skill set of the tape and chart reader the greater the profits. The art is when to take profits. I have never mastered that trait. Money flowing out of Ripple and Eth going into Bitcoin now. Bitcoin running hard at 17,500 now. Bitcoin and alt coins work on same principal as stock market. Money rotation, support, resistance....timing tops is very difficult though when you have nothing to measure it by, especially if they are hitting ATH. Bitcoin 20K was natural resistance since it's a number ending in 0. Look at all stocks 10, 20, 30, 100...those are major resistance areas. Ethereum traveled to 1000 like a magnet. It will take some time before that level is breached again. No biggie! Stubborn people who are biased and not open to change will never make it. 20K bitcoin...still 2,500 points upside...grab it
Bitcoin Price Thread
- Thread starter Magna
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Same fundamentals. I was here when Bitcoin hit 19K and told you 13,500 target next. Happened in a few days. I also came here at Bitcoin 16,500 today telling you it's going to hit 20K. There is no magic. This is how markets work. Machines run 90% of all volume in stock market. Who programmed the machines? Humans!! And they programmed them based on technicals. The greater the skill set of the tape and chart reader the greater the profits. The art is when to take profits. I have never mastered that trait. Money flowing out of Ripple and Eth going into Bitcoin now. Bitcoin running hard at 17,500 now. Bitcoin and alt coins work on same principal as stock market. Money rotation, support, resistance....timing tops is very difficult though when you have nothing to measure it by, especially if they are hitting ATH. Bitcoin 20K was natural resistance since it's a number ending in 0. Look at all stocks 10, 20, 30, 100...those are major resistance areas. Ethereum traveled to 1000 like a magnet. It will take some time before that level is breached again. No biggie! Stubborn people who are biased and not open to change will never make it. 20K bitcoin...still 2,500 points upside...grab it
What do you mean "This is how markets works"? Bitcoin futures are 6 weeks old! How can you know what the hell bitcoin futures are going to do?
It's a complete guessing game.....
Aside from that dogecoin which is suppose to be a joke of the cryptocurrency world now has a billion dollar value..yes a billion dollars....the creator of the coin created it as a joke years ago...he has since moved on and hasn't even bothered to release any software updates in years yet people are buying it up which now has given it a billion dollar market cap....can you not see that it's a bubble!!
Why all the demand for the regulators to step in? Just trade it or don't trade it. No need to call on mommy when the market doesn't go in your favor. We're all adults and responsible for our actions.
Cut it!
Retail still hasn't entered the market. Market tops are only created once retail money enters. Net outflows since 2012 were $1 trillion from retail mutual funds. https://www.wsj.com/articles/as-dow...rs-sit-it-out-1515099703?mg=prod/accounts-wsj
We're seeing that in crypto now. We saw it in the housing disaster. Minimum wage workers buying $800,000 homes.
VIX is telling you risk has been off for the last year. David Tepper said market is cheaper this year than last with low inflation in place. I personally think the FEDS control the stock market. The plunge protection team is proof of my theory.
Greenlight's Einhorn Says Issues That Caused the Crisis Are Not Solved
I know nothing. I'm a retail sheep. I'm not going to pretend I know how markets are run. What I do know is playing technicals, upgrades/downgrades/ news is what keeps you out of trouble and into profits. Being open minded and not biased are also up there as top of the list traits to have.
Look at Litcoin shoot up from 250 to 310 depending on what exchange. Money rotation musical chairs continue. This one has been dead money for over a week till today. Bitcoin dancing around 16,500 established it as support. We should see the big spike based on pattern no later than end of day tomorrow to 20K mirroring Litcoin. I hope it holds the 20K, if it hits it, into Monday for my GBTC position. Failure for Bitcoin to hit 20K by Sunday and lose the 16,500 on the daily would be my sell signal. This would be breakout failure. Not all trades are winners. Keeping stop losses tight is what makes you a winner. Big wins and small losses is what we all seek to achieve. I still make bonehead decisions from time to time. Bias is hard to escape 100%. Being stubborn is part of the human dna.
https://www.investing.com/currencies/btc-usd-chart
Jan 5th 16,900 was the first daily close above 16,500. Catching the 16,500 could have been spotted on the 60 minute.
https://www.investing.com/currencies/btc-usd-chart
Jan 5th 16,900 was the first daily close above 16,500. Catching the 16,500 could have been spotted on the 60 minute.
I'm not giving you price points on the parabolic moves in the other alt coins. Those, I agree, are hard to pin because they are the same as penny stock frauds. I'm keeping my studies specifically toward Bitcoin. I gave 2 posts about that. First one was the short. I gave ball park figures where it was heading. Said 19K short and 13,500 cover with potential low of 10K where it would make a violent bounce. It hit a los of 10,700 before ripping 50%. Second one was a long at 16,500 given yesterday. Both were real time. If second one hits 20K then it's far from a guessing game. The top fund guys are in the top 10 yearly not from guesses. They developed superior trading recipes to the others. The best trader on the planet is Jim Simons. He doesn't employ 1 trader. System is run by astrophysics, rocket scientists, NASA members. He trades from a very liquid $5 billion fund that is reset yearly. He hasn't actively managed the fund for 8 years yet makes $2 billion a year. He's never had a losing year. When you say it's a guessing game you are telling me your are stubborn to changing your trading style or are a fundamental trader. Fundamentals mean nothing in stock market or in crytpo. Amazon 500 p/e and Tesla $60 billion market cap is proof of that. Einhorn shorted Amazon on fundamentals at 800...it's hit 1200 since. Obviously he most likely covered or hedged but the trade was a loser because he had the wrong mindset. Same thing with Jim Chanos and his $50 price target of Alibaba. Just because you're a billionaire doesn't make you 100%.