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Bitcoin / Cryptocurrency Discussion (And Predictions)

Discussion in 'Investing/Trading/Cryptocurrency/Altcoins' started by James Fend, Nov 8, 2017.

  1. LifeTransformer
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    LifeTransformer Silver Contributor Read Millionaire Fastlane Speedway Pass

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    What's this based on?
     
  2. James Fend
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    James Fend Gold Contributor Speedway Pass

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    How most major corrections usually trend out from a big long bear. But crypto proved me very wrong this time. I do think a major sell-off is still in the sights from bag holders who bought in at the $10k "bottom", but again, I've been really off so I'll prob just trade solo in-house for a few weeks.
     
    Last edited: Feb 12, 2018
  3. MMatt
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    MMatt Bronze Contributor Read Millionaire Fastlane FASTLANE INSIDER Speedway Pass

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    I have been following crypto obsessively for the last two months.

    I am following multiple well known crypto traders, and long-term investors on various social media outlets.

    What i have learned is that crypto has yet to follow any short-term technical analysis or predictions from anyone I follow, regardless of their amount of knowledge or experience in the markets.

    Moral of the story is buy low sell high, or hold long term. Keep it simple unless you are trading successfully over, and over, and over.

    I personally sold a bit early when bitcoin was recovering from the bottom. Waiting on the sidelines for another dip before locking in all of my long holds. Or should I say I am sitting on the sidelines "hoping" for another dip.
     
  4. ljb7
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    ljb7 Bronze Contributor Read Millionaire Fastlane Speedway Pass

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    @TinyTim

    I made an interesting VEN discovery yesterday. I know you're filling your bags so thought you'd find this interesting:

    I went back on the charts and located 4 big news announcements. I wanted to get a TA perspective on 'Buy the rumour, sell the news'. Well what I found was really interesting.

    After each big announcement was made, price action ALWAYS retraced back to the 61.8 fibonacci level before continuing its uptrend. Check it out.

    Granted, we can't say for sure it'll happen again, but it sure as hell gives me a better idea of where to reenter as opposed to just winging it!
     

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    AgainstAllOdds, windchaser and Yoda like this.
  5. James Fend
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    James Fend Gold Contributor Speedway Pass

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    @farmer79 - at the summit? What ya wearing today? Im here scanning everybody for somebody that might be into farming lol
     
  6. bringitnow28329
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    bringitnow28329 Bronze Contributor

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    Lol this is not a big discovery... Fibs work in all asset classes and on all time frames from stocks, bonds, options, forex, futures and cryptos.

     
  7. ljb7
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    Oh really? I thought fib levels were made just for Vechain...
     
  8. farmer79
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    farmer79 Bronze Contributor Read Millionaire Fastlane I've Read UNSCRIPTED FASTLANE INSIDER Speedway Pass Summit Attendee

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    No unfortunatley not, had a ticket but I had something come up on Monday on the farm that made it impossible to get away. Very sorry to miss. Sounds like I missed a great event.
     
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  9. baltais
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    Made a YouTube animation video about TOP 5 Scam coins. Cracking them down one by one and analyzing how the scammers behind these coins try to fraud money out of naive investors.

    There are no affiliate or sales links in the video, it's just for enjoyment so enjoy! :)))))

     
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  10. LifeTransformer
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    LifeTransformer Silver Contributor Read Millionaire Fastlane Speedway Pass

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    Wassa wassa wassa wassa wassa wassup! @baltais
     
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  11. MJ DeMarco
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    MJ DeMarco Raving Lunatic Staff Member Read Millionaire Fastlane I've Read UNSCRIPTED FASTLANE INSIDER Speedway Pass LEGENDARY CONTRIBUTOR Summit Attendee

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    Admin Post
    Ether < 600 BTC < 8000
     
  12. steelandchrome
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    steelandchrome Author of The Retail Leader Book. Read Millionaire Fastlane I've Read UNSCRIPTED FASTLANE INSIDER Speedway Pass

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    Yikes! Great buying opportunity, or the start of a further slide ... Maybe I should put the rest of my money I brought to Vegas into some ETH instead

    Sent from my SM-G935V using Tapatalk
     
  13. Lucky Chevy
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    Yep, I got out of all of my crypto positions with a bit of a haircut and bought some Bitcoin @ $8k with thoughts of dumping it at $11k. Looks like we are in for a rough ride.

    Volatility spiked when big money entered the game. Large firms are content to pump and dump constantly with small profits on each transaction. I can't dedicate quite that much time to it so I'm limited to playing the general trends.

    It's tough to take losses of any kind when the broader market is posting record gains. It's starting to feel like a balloon. I'm thinking about transferring all of my holdings into more stable securities but greed is a terrible thing. Of course, I was thinking the market was unsustainable since Obama's re-election and here we are.
     
  14. James Fend
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    James Fend Gold Contributor Speedway Pass

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    Skimming through this thread.. I cringe at myself & amazed at myself at the same time. WTF... Right af. Wrong af. Right and wrong at the same time.

    I think overall; my gut feelings were right.. timing was HORRIBLY wrong.

    I know I haven't posted in awhile.. but just FYI; I am still in crypto. Have matured a crap ton as a trader.. I'm still eye'ing that really big obnoxious goal. So much to update on...

    I might turn it into a progress thread as I plan to re-guritate my backup speech for the summit onto the forum here very soon. Maybe even in video format :wideyed:.. on the flip side; as I was gaining some public following for my crypto stuff, I learned a crap ton on there too. And had to do a major pivot recently but... yeah. More on that later..

    When I do that; I will still update this thread with fundamental analysis of my opinion on the market. :smile:
     
  15. MMatt
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    MMatt Bronze Contributor Read Millionaire Fastlane FASTLANE INSIDER Speedway Pass

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    How are all you guys doing during the current rebound? My portfolio is up 100+% percent in the last few weeks, so anyone hodling solid projects should be pretty happy right now.
     
  16. JScott
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    Still well off my highs, but pretty much back to where I was before the big slide...
     
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  17. steelandchrome
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    steelandchrome Author of The Retail Leader Book. Read Millionaire Fastlane I've Read UNSCRIPTED FASTLANE INSIDER Speedway Pass

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    I'm up over 120% from initial investment but 50% off of my highest point when BTC was at $19k+, ETH at $1400+, and LTC at $400+.... If I would have doubled down at the dip I'd be really happy, but doing ok either way.

    Sent from my SM-G935V using Tapatalk
     
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  18. Unknown
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    I'm still down about 30% from ATH.
     
  19. nitrousflame
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    nitrousflame Bronze Contributor Read Millionaire Fastlane I've Read UNSCRIPTED FASTLANE INSIDER Speedway Pass

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    Up about ~1000% on cost basis, but still down ~40% from ATH. Portfolio is ~66% BTC.
     
  20. MMatt
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    MMatt Bronze Contributor Read Millionaire Fastlane FASTLANE INSIDER Speedway Pass

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    What is everyone's take of the current market?

    Double down while prices are low or prepare for more downward movement?

    I have considered adding to my portfolio but am sitting on the sidelites for now.
     
  21. topherea
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    topherea Silver Contributor Read Millionaire Fastlane I've Read UNSCRIPTED Speedway Pass

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    Dead cat bounce.
    To me it looks like BTC seems to be the leader that the majority follows so with using the BTCUSD/Bitfinex chart, I'd be watching for the 6000-6300 range. Not saying it will get there because who really knows, but that area is where the support is right now and if I wanted to average down (on this one or any of the other flavors), that's probably a point where I would strongly consider, provided that it holds support. If it doesn't get there, and moves up, I'd be watching for a breakout above the February highs as that would be a very strong indication of a trend change from the last 5 months. I would definitely add there.
     
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  22. GoGetter24
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  23. Seniorpreneur
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    The market is consolidating around $7,500 US for Bitcoin. There is still downward pressure for now anyways. I`m sitting on the sidelines to see which direction the market will be taking either another steep upside or a bearish slow decline. Don`t hold your breath.
     
  24. topherea
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    topherea Silver Contributor Read Millionaire Fastlane I've Read UNSCRIPTED Speedway Pass

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    Alright, this thing's hitting support. I'm keeping an eye on the 5300-5500ish level. Who knows if it'll go there, but if it does, I would think that there would be a higher than average probability of it bouncing back to support.
     

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  25. MarekvBeek
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    MarekvBeek Do more Read Millionaire Fastlane FASTLANE INSIDER Speedway Pass

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    Yeah! Support levels are being tested right now.
    Still Bitfinex holds a 800+ BTC buy wall at $6.000.
    It's been the 2nd time this month that it is testing support. Seen the sharp decline, downtrend, and weak rebound, I believe it will soon go under the $6.000. But I will only put my money on the line when it hits $6.000. It will be an obvious short for me.
     

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