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Merged Bitcoin - Part 3

psionl0 said:
Proof that you are right 50% of the time.
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I don't know why you make these statements, bitcoin is a very technical market, and everyone should profit from it, though I cerainly don't want to encourage the nonsense.
That rally has expired as expected and at 8070 now an outstanding short.
 
Samson said:
I don't know why you make these statements, bitcoin is a very technical market, and everyone should profit from it, though I cerainly don't want to encourage the nonsense.
That rally has expired as expected and at 8070 now an outstanding short.
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I guess that I shouldn't say "50%". Your language is so vague that it could literally mean anything.

That "substantial rally" doesn't even register when you draw the price chart to the same scale that saw a moderate (20%) price drop on 24 September.

All I know for certain is that everybody who has ever predicted a terminal (or "structural") price decline has wound up with egg on their faces. Since you employ the same debating technique as the author of the money thread, you are likely to be permanently eggy despite your constant attempts to reinterpret your past statements.
 
psionl0 said:
I guess that I shouldn't say "50%". Your language is so vague that it could literally mean anything.
That "substantial rally" doesn't even register when you draw the price chart to the same scale that saw a moderate (20%) price drop on 24 September.

All I know for certain is that everybody who has ever predicted a terminal (or "structural") price decline has wound up with egg on their faces. Since you employ the same debating technique as the author of the money thread, you are likely to be permanently eggy despite your constant attempts to reinterpret your past statements.
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Exactly. Unless Bitcoin is at an all time high or has set a new benchmark low, Samson's "Bitcoin will go up/down" style "predictions" will eventually be right.

I realise this is an argument from incredulity but if I had an effective TA algorithm, I'd either keep very quiet about it and make millions or billions trading or sell it to a major financial institution for a huge sum. If I wasn't interested in personal enrichment, I'd donate most or all of the proceeds to charity.

I wouldn't be spending my time boasting about it on a minor internet forum.
 
The Don said:
Exactly. Unless Bitcoin is at an all time high or has set a new benchmark low, Samson's "Bitcoin will go up/down" style "predictions" will eventually be right.

I realise this is an argument from incredulity but if I had an effective TA algorithm, I'd either keep very quiet about it and make millions or billions trading or sell it to a major financial institution for a huge sum. If I wasn't interested in personal enrichment, I'd donate most or all of the proceeds to charity.

I wouldn't be spending my time boasting about it on a minor internet forum.
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The fate of the bitcoin scenic route is independant of my aspirations or aims for self enrichment. I am simply telling the thread where I would buy in real time, and where I would sell.
The thread is the record, and bitcoin affords candy from many babies.
 
plague311 said:
I know it's not entirely relevant to the thread, but if it makes any difference my Ripple hasn't made me rich. If Sam has something that will work for Ripple I'd be all ears.
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Ripple was about 0.29 when I posted BC was a great short at 8070, and now seems to be 0.267, they all move roughly together.
I guess I will continue to post on bitcoin. As I keep trying to explain, the cryptos are very technical markets because no one has any idea of intrinsic value.
Of course I think that value is zero.
 
Bitcoin Price En Route to Descending Triangle Target of $5,000
After a 45% Drop, Bitcoin Price Has a Lot More Room to Fall

Bitcoin price is currently trading below $7,500, an over 45% drop from the high of the 2019 parabolic rally that took the price of the leading crypto asset to $14,000 before being rejected... The powerful drop confirmed the chart pattern as valid and took the price of the first-ever cryptocurrency to $7,700 where it bounced and consolidated for a few weeks in what appeared to be a textbook bear flag. But the bear flag was formed along the way to what a prominent crypto analyst says is the eventual target of $5,000, according to a measurement taken from the height of the triangle to its base...

If for some reason $5,000 does breakdown further, Bitcoin would be at risk of potentially setting a new bear market low – suggesting that a bottom wasn’t actually in, and it could cause widespread fear and panic across the cryptocurrency market.
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But...

A strong bounce at $5,000 or any of the aforementioned support levels would result in a successful retest and confirmation of resistance turned support, and could give bulls enough confidence to be able to push Bitcoin back into a bull market, and out of the claws of bearish traders.
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Is Bitcoin finished, or can it break free from the bear's claws and live to see another day? Tune in to next week's exciting episode!
 
psionl0 said:
Who'd have thought that you could find an article that was negative on bitcoin? And on the internet of all places! I salute your extraordinary detective skills! :thumbsup:

OTOH, with its talk about "triangles" (and other TA terms), lack of a time table and no failure of prediction definitions, you might as well just quote Samson.
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Interestingly the logarithmic triangle target is 6 thousand, I also noticed Roger's article.
But let us not quibble, I will post an idea to buy these cursed cryptos when appropriate simply because I can get it right.
 
Xi Ping says embrace blockchain, without mentioning cryptos, but btc rallied 40 %
One mother of a short squeeze.
 
Samson said:
Interestingly the logarithmic triangle target is 6 thousand, I also noticed Roger's article.
But let us not quibble, I will post an idea to buy these cursed cryptos when appropriate simply because I can get it right.
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Based on Coindesk figures, Bitcoin started today at $7,452, jumped as high as $10,332 and is now $9,551 as I type. You must have a remarkable ability to be able to develop a program capable of predicting this sort of freak event.



Norm
 
fromdownunder said:
Based on Coindesk figures, Bitcoin started today at $7,452, jumped as high as $10,332 and is now $9,551 as I type. You must have a remarkable ability to be able to develop a program capable of predicting this sort of freak event.



Norm
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Fair question.
The algorithm is very simple, as required by minimal optimisation.
I last said short at 8070, and the market got to about 7350, a decline of 8.2%

There is no point me saying what I would have done at that point. No one suggests they predict everything, but frequently there is a high probability of a particular direction, and success is about going further into the money than out of the money after placing the bet. A simple Turing tape will give a winning strategy.
 
So you make it all your real or theoretical profits based on predictions made after the actual event. Got it.


Norm
 
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