Bitcoin well above 22,6K do is it continuing?

I know the market:

  • Yes, it will grow to the sky's

    Votes: 14 42.4%
  • No, it will bounce and fall to 14,5K or even less

    Votes: 11 33.3%
  • No, it will go below 10K within 8 weeks

    Votes: 4 12.1%
  • Not again!

    Votes: 4 12.1%

  • Total voters
    33
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MiltonStone

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It's already falling 1K since I posted the thread!!
 

Martin Everson

Offshore Retiree
Staff member
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fortunespeculator

BANNED MEMBER
Well it seems at these levels demand and supply reverses hence i have said the above.I dont know Technical Analysis or charts in detail for that matter.
If you remember Jack ,we had that discussion once when Golden Fleece was pointing out patterns in charts and i had said that i dont know charts or TA and you were telling me that i have missed nothing if i didnt know TA astrology.But this part that i have mentioned here is based on observation that between 18k and 24 k is the range for now and demand and supply kind of getting reversed at those points- basically either accumulation or distribution going on but it will be clear only on hindsight which one it is with the breakout on either side.

If i'm right on the above then i want to know how many will invest in my hedge fund that i am opening in cyprus soon :p.

I use simple hypothesis with logical thinking and price action to make money , no mumbo jumbos like the so called experts.If anyone interested then they can join me in my hedge fund endeavor in cyprus.
 
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khinkali

Silver Member
As far as i understand unless it breaks 24 k on the upside or 18k on the downside it is going to ebb and flow in this range.

If the price is between X and Y now and does not exceed Y nor fall below X during some period, then it must have remained in the range between X and Y for the whole period.

I agree that what you wrote is true. I think it will be hard to find a useful application for this. other than labelling the past.
There is no law of physics inherent to these levels like gravity.

Even gravity is a fictitious force. :)
 

fortunespeculator

BANNED MEMBER
It will sky rock the next time !
Yes it will i am sure but not very soon i think

If the price is between X and Y now and does not exceed Y nor fall below X during some period, then it must have remained in the range between X and Y for the whole period.

I agree that what you wrote is true. I think it will be hard to find a useful application for this. other than labelling the past.


Even gravity is a fictitious force. :)
Range traders can trade when its between 18-24 k.But i am more of a breakout trader so i have to wait either to go short or go long in a meaningful way.So instead of waiting for BTC,i am trading other markets for the time being and working on other business opportunities.And as livermore said to just relax and go fishing when there are no good opportunities in the market to fish for.You must know when to double up and when to fold.
 
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khinkali

Silver Member
Range traders can trade when its between 18-24 k.But i am more of a breakout trader so i have to wait either to go short or go long in a meaningful way.

If the price has between X and Y for some amount of time and then either exceeds Y or falls below X, then it must have broken out from the range between X and Y.

I agree that what you wrote is true. I think it will be hard to find a useful application for this. other than labelling the past.

You must know when to double up and when to fold.

I'm not sure that picking numbers such as 18k to 24k and watching for a break out in either direction would tell me the future price direction. But then, I don't believe in price action trading.
 

fortunespeculator

BANNED MEMBER
If the price has between X and Y for some amount of time and then either exceeds Y or falls below X, then it must have broken out from the range between X and Y.

I agree that what you wrote is true. I think it will be hard to find a useful application for this. other than labelling the past.



I'm not sure that picking numbers such as 18k to 24k and watching for a break out in either direction would tell me the future price direction. But then, I don't believe in price action trading.
I think proof is in the pudding ,all of my wealth is made this way.Not much maybe but just about 11 million $.I am looking for a partner to setup a hedgefund in cyprus.I do have other businesses from where i make money.But 80% is from the trading.

I think proof is in the pudding ,all of my wealth is made this way.Not much maybe but just about 11 million $.I am looking for a partner to setup a hedgefund in cyprus.I do have other businesses from where i make money.But 80% is from the trading.
I didnt pick the numbers of 18 k and 24 k from thin air they were real prices from where the turns happened.
 

clemens

Corporate Services
Mentor Group Gold
I didnt pick the numbers of 18 k and 24 k from thin air they were real prices from where the turns happened.
Thank you for advise, everything is to be considered if one want to make money with crypto investments.
 

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