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RE: Bitcoin (BTC) Mid-Day Update: Price Sitting on Top Trend Line as Support
Wow @investingtips. You're really going at it. So can I ask, does this trend line mean that we can expect BTC to be a lot more bearish over this season? I always felt that the bull market would only return in May/June. Never really understood why everyone kept yelling "BULL!!" a few weeks ago..
@kofibeatz we are certainly not Bullish my friend, we have only just broken out of this large daily rising wedge which is a Bearish chart pattern, and I believe we could go down to the long-term support level which would be at about $7,000:
@investingtips and yet, 4 - 3 days ago, on your VERY OWN blog, you were posting bullish stuff and telling anyone willing to read from you that this was an ascending right triangle (and still talking about it on your last blog's 4h chart!), that the main downtrend line had been breached, and so on... and I quote, "It does look like Bitcoin is inevitably going upwards now and it could explode again to all-time-highs". So how can one be so definitive in its analysis from one day to another just because of a long red candle? Are you freaking out actually or something?
So, are you just there for the sake of being talkative and insultant for free towards Haejin? Or do you suffer from some sort of schizophrenia? In both case, and looking at the wonderful (1) next to you nickname, along your no less wonderful "investing tips", let us, Haejin readers, advise you to preach your so called "knowledge" somewhere else, unless you show some politeness.
Don't thank me for the piece of advice, you're welcome.
"It does look like"... "just my opinion"... key phrases buddy. I never said it was 100% going up and in fact I still maintain it was an ascending triangle on the 4-hourly chart but it broke down not up.
"Do remember that even though Ascending Triangles typically break out upwards... they don't break out to the upside 100% of the time! So, in all honesty, if I had seen this pattern first I would not be in a long trade quite yet, but I will remain in it."
You just going to miss out that part as well? Where I literally say that it could go up or down. You are not exposing me if you think that is what you are doing. I always endeavor to be as honest as I can with my followers, Haejin on the other hand is anything but honest. And am I schizophrenic for having the ability to admit that I now have a different opinion than I did the day before? No, it's called adjusting to what the market is telling me, pretty simple shit.
Here's a final quote from the same one post just so that your pea sized brain can get it; "I am excited to see if Bitcoin really takes off once it breaks this pattern (hopefully to the upside)!" <--- hopefully to the upside, not definitely to the upside.
It was a poor try, but try again if you wish.
Any other of Haejin's boyfriends want to try and expose me? I've already put down 2 of you, I could do this all day, because I do not lie so I have nothing to cover up.
That's really low @investingtips. Thanks for the graph stunner, but when would you estimate that these prices will hit?
Could take up to a couple of weeks imo to hit $7,000. Obviously it might not hit $7,000, i'm not psychic :P, just showing my opinion!
I think the same... May to July if we're lucky. We may see the lowest dip yet before that happens - or maybe we continue the uptrend, in which case we'll be at 20k in May - the problem is that with a market totally reliant on psychology, talking about it can turn into a self-fulfilling prophecy. I would propose that we should see haejin's work from the same perspective.