Quote from: rudius on May 20, 2014, 10:54:30 PM

Quote from: ampere9765 on May 20, 2014, 10:23:55 PM

Quote from: rudius on May 20, 2014, 09:56:47 PM

Quote from: ampere9765 on May 20, 2014, 09:49:33 PM

Quote from: rudius on May 20, 2014, 09:45:12 PM

Quote from: ampere9765 on May 20, 2014, 09:37:57 PM

Quote from: rudius on May 20, 2014, 09:33:05 PM

Quote from: ampere9765 on May 20, 2014, 09:25:23 PM

Quote from: Wandererfromthenorth on May 20, 2014, 08:07:33 PM

how can you say that line cross was a coincidence? what are the odds?

I don't think it was a coincidence. Bulls have reason to point out the break of the down trend line. But are we looking at a $50 move? Or a $500 move? Bigger? The breakout alone is not so comforting looking at indicators. RSI is riding very high 4H. Hard to see a strong up move from here.

Could you be more specific? You want a new ATH in a week so that you could say for sure it was a strong move?

Seeing reversals before others is how you trade, not the other way around!

Yes, so is it a reversal or a retracement? I am implying it is a retracement.

What do you want me to be more specific about? As I said in another thread, a break of $530 for me indicates that this rally has legs.

?? the bear market was already a retracement! How many retracements of bear market do you see in the history of Bitcoin?
You make no sense. Sure, you could look for new higher high, but even if we pass 530, that wouldn t say that this is not a retracement. Just for you maybe. ANd as you are not george soros, i don t know why i will take this seriously.

I don't think you understand the terms.

Sure, the bear market was a retracement of a larger move. So? Do you know what a retracement is? It is a corrective move that "retraces" part (or sometimes all) of an impulsive move. You can have many, many retracements. And until we see an impulse that breaks outside of that range, that's what we are working with.

Yes, a break of $530 would not indicate an impulse. In fact, if it happens, I plan to exit in the $700s.

Don't take it seriously. You think I take *you* seriously?

lol yes my english is very bad. I know very well what a retracement is. So you are saying that this new up trend is a retracement until it breaks the ATH of november. Technically, you are right. But that still make no sense.

What i meant is that you dont have the financial power of george Soros so you can peak what ever price you want, it won t have any effect. 530 is the best you can safely do right now. But you could have watched higher low instead and bought at a much lower price.

I only trade a sub-wave, or a wave, at a time. I'm not worried about the 340 low or the 420 low. That's over and I've made many trades since. What I'm saying is that $530 is a good level to watch -- to short on failure, not only go long on breakout.

i wouldn t short BTC right now, nor swing trades small waves. Forex is more your style. Did you demo it?

Nah I only trade BTC. Only have experience with that. And some alts here and there. I think I would get killed in forex. I agree, short is risky -- I'd have to see a clear failure. Since ~2 months ago, I don't take any *large* positions on BTC anyway. Moves are too small right now to risk much. Waiting for very clear bullish reversal. Don't mind missing the bottom either, I've profited enough in coins during this bear market. Long term position is probably prudent to just go long now if you don't care about the day to day.