Re: Wall Observer BTC/USD - Bitcoin price movement tracking & discussion
Everyone just shut up and trade. Thank the Chinese for all this magnificient volatility and profit making opportunities. It's not like you don't get ample TA indicators to tell to buy and sell when the trend is changing. The candle didn't just go straight down to 700 to 340 or straight up from 340 to 540 or straight down thereafter and then just die at the new level. No. There are ample bounces, indicators, and opportunities. You have hours to realize the 1H MACD is going down and then days to realize the 4H and 1D are going down before most of the damage is gone. But instead of paying attention you sit there in some state of denial complaining about how chinese shouldn't be able to control the trend. You ignore the chart indicators because of your belief, and then complain later and ask why you are losing. "but... but... it's just china fud. the west should control bitcoin". Well that's too bad. You just have to accept reality and roll with the punches.
I do accept reality, including the reality that I'm just not good enough to trade this, T. We're not as skilled at this as you are, at least I'm not. That's why we're not shutting up.
Take your own advice or give us some more help. I have to wait for the market to sink significantly lower or just wave it goodbye as it goes farther out of reach. I feel dumb and it's pissing me off.
I was positioned at $427 before you were by a day, but that head-fake dump to $400 threw me off. How did you know to jump in at the same time I jumped out?? It had nothing to do with the 1 hr, 4 HR or 1 day MACD, and it happened in minutes.
Here was my 425 long entry. It did not coincide with any particular MACD cross at that exact time - I cannot always rely on MACD all the time and sometimes I have to react to sudden unsual breakouts by entering on their retracements. In this case, the 1 hour MACD had gone up at $415 about 6 hours ago, but I did not want to enter then because it looked like 4 hour MACD was going down. I think the candle was even just barely red right before this breakout. Then suddenly there is a huge break upwards on high volume. So I look look for the first retracement to enter on, which was at $425.