MPDTT Posted June 20, 2019 Author Share Posted June 20, 2019 4 minutes ago, David said: Again, I don't know what kind of logic is being used to claim that the "bottom is now in" when it comes to Bitcoin? What would make anyone think that? Based on the technical analysis provided by Professional Traders. I'm personally a fan of NicTrades Quote Link to comment Share on other sites More sharing options...
David Posted June 20, 2019 Share Posted June 20, 2019 Just now, MPDTT said: Based on the technical analysis provided by Professional Traders. I'm personally a fan of NicTrades So where do they see the "bottom" being then? Saying that it's in is a bit vague... Quote Link to comment Share on other sites More sharing options...
UK Kat Von D Posted June 20, 2019 Share Posted June 20, 2019 I’ve been told to get on something called Cardano. Not put in anything I’m not willing to lose but looks promising Quote Link to comment Share on other sites More sharing options...
David Posted June 20, 2019 Share Posted June 20, 2019 (edited) 3 minutes ago, UK Kat Von D said: I’ve been told to get on something called Cardano. Not put in anything I’m not willing to lose but looks promising It's due a pretty good bump over the next month after its TestNet release, but I'd be wary of hanging around too long. If you see a level of profit you're happy with over the next month or so, just grab it and cash out is my advice. EDIT: In fact, don't cash out entirely. Shift some of your profits to Bitcoin (see my post above) Edited June 20, 2019 by David Quote Link to comment Share on other sites More sharing options...
UK Kat Von D Posted June 20, 2019 Share Posted June 20, 2019 That’s ideal for me because I have literally zero self control and will withdraw rather quick Quote Link to comment Share on other sites More sharing options...
David Posted June 20, 2019 Share Posted June 20, 2019 Just now, UK Kat Von D said: That’s ideal for me because I have literally zero self control and will withdraw rather quick That's actually a good thing. Too many people get greedy, waiting on more and more profits before it eventually hits a resistance level and drops a bit. Like I said, grab some of the profits in cash money, and chuck some of it into Bitcoin then hold on until early next year. Quote Link to comment Share on other sites More sharing options...
Undefeated Steak Posted June 20, 2019 Share Posted June 20, 2019 I'm optimistic about the future of Bitcoin and think it should be seen as more than something to win some money on. It could genuinely help millions of people in places in Asia and Africa who don't have the same access to everyday financial services as we do. The real talking point in this thread should be whether or not Facebook should be allowed to launch its own cryptocurrency. Of course the answer is no, so it negates any need for any discussion on it tbh. Quote Link to comment Share on other sites More sharing options...
David Posted June 20, 2019 Share Posted June 20, 2019 1 minute ago, Undefeated Steak said: I'm optimistic about the future of Bitcoin and think it should be seen as more than something to win some money on. It could genuinely help millions of people in places in Asia and Africa who don't have the same access to everyday financial services as we do. I don't think Bitcoin will be the answer to those problems, unfortunately. It's more like Gold than anything else, and is always going to be looked at as a tradable commodity, especially as time passes and more of the limited number of coins are uncovered. The technology it runs on though? That's where the financial world could be turned on its head, especially in places like those you've mentioned. Quote Link to comment Share on other sites More sharing options...
MPDTT Posted June 20, 2019 Author Share Posted June 20, 2019 3 hours ago, UK Kat Von D said: I’ve been told to get on something called Cardano. Not put in anything I’m not willing to lose but looks promising Cardana (known as ADA) has had a rough few weeks. Look at the price action on tradingview. ADABTC. If really needs to bounce from here or we are heading much lower. Currently on support Quote Link to comment Share on other sites More sharing options...
MPDTT Posted June 20, 2019 Author Share Posted June 20, 2019 I've got all eyes on BTC. Currently at 9300. If it gets over 10k again, I expect new money to pile in as people FOMO. Quote Link to comment Share on other sites More sharing options...
David Posted June 21, 2019 Share Posted June 21, 2019 (edited) 16 hours ago, MPDTT said: Cardana (known as ADA) has had a rough few weeks. Look at the price action on tradingview. ADABTC. If really needs to bounce from here or we are heading much lower. Currently on support It's Cardano, not Cardana, and whoever has told @UK Kat Von D to jump on it now is most likely right. You say that it really needs to bounce from here, or we're heading much lower? Do you have any idea why people would choose to jump on it now? It's easy to look at the history of the chart, anyone can do that. But why should it bounce? There has to be a catalyst behind the movement in the first place. The problem with relying entirely on the charts is that by the time you see the commodity start to climb you're already too late and will be jumping in after the fact. Sure, you may enjoy the last of the fumes of the ride on occasion and make a slight profit, but the chances are you've gotten in just as those who know why it was going to rise in the first place are preparing to offload and take their profits. That's probably why you lost thousands of dollars last year. What your "price action" and charts aren't telling you is that the much-anticipated release of its TestNet could be a bit of a game changer. The price over the coming months has a very good chance of rising as people catch onto this, and then the casuals will jump on when they see the uptick on their charts as well, leading to a nice final pump in price for those who got in nice and early (which includes our very own @UK Kat Von D on this occasion.) Edited June 21, 2019 by David Quote Link to comment Share on other sites More sharing options...
MPDTT Posted June 22, 2019 Author Share Posted June 22, 2019 On 6/21/2019 at 4:24 PM, David said: It's Cardano, not Cardana, and whoever has told @UK Kat Von D to jump on it now is most likely right. You say that it really needs to bounce from here, or we're heading much lower? Do you have any idea why people would choose to jump on it now? It's easy to look at the history of the chart, anyone can do that. But why should it bounce? There has to be a catalyst behind the movement in the first place. The problem with relying entirely on the charts is that by the time you see the commodity start to climb you're already too late and will be jumping in after the fact. Sure, you may enjoy the last of the fumes of the ride on occasion and make a slight profit, but the chances are you've gotten in just as those who know why it was going to rise in the first place are preparing to offload and take their profits. That's probably why you lost thousands of dollars last year. What your "price action" and charts aren't telling you is that the much-anticipated release of its TestNet could be a bit of a game changer. The price over the coming months has a very good chance of rising as people catch onto this, and then the casuals will jump on when they see the uptick on their charts as well, leading to a nice final pump in price for those who got in nice and early (which includes our very own @UK Kat Von D on this occasion.) Lots to comment on....sorry for the delay in responding- it's been an amazing 24 hours in BTC, which I'm 95% in, rest in BNB. Sorry for the typo in cardamo. ADA and BNB have been my most successful coins in the past. ADA continues to collapse in BTC value as big daddy is on the rampage. This is not the time to be in alts - but a good alt season will arrive soon. ADA is at its worst level against BTC since Decemher and is under the 20, 50 and 200 moving average on the 4 hour chart, not to mention the CCI is negative. If we can get a bounce here, come back and retest it and get above the 20 MA on the 4 hour chart, I'd buy a bag, but that means seeing it get above 0.00000914, which should then be resistance. ADA looks terrible right now and isn't a buy: https://uk.tradingview.com/chart/ The question you ask is how can you predict wherr a coin goes next. It's not coin toss - technical analysis of charts can predict to varying degrees of accuracy which coins will go up and which will go down using measures of volume, fibonnaci and moving averages. This is what I pay attention to. I know little to nothing of what the project is behind each coin - I trade the technicals. If you want to get insight into this without paying a bean, go to Facebook and search for the Nictrades group. The paid group costs £25 @ month, but the free group has a live video review of every major coin every Monday night, where Nic talks through the technicals on each coin - which ones are buys and which are sells. I pay and get a twice daily update and trade based on the analysis. Nic also provides regular lessons and there are training modules provided to learn the strategy. Pays for itself in droves.   Quote Link to comment Share on other sites More sharing options...
Undefeated Steak Posted June 22, 2019 Share Posted June 22, 2019 (edited) 1 hour ago, MPDTT said: The question you ask is how can you predict wherr a coin goes next. It's not coin toss - technical analysis of charts can predict to varying degrees of accuracy which coins will go up and which will go down Here's the thing though - it is a coin toss. There's only ever a 50% chance of which way it will go next. And that's not accounting for the fees you pay on an exchange. So you're always going to be starting against the odds. Trying to make money from quick trades on any currency is nothing more than a glorified version of playing red or black on a slot machine, unless you're one of the less than 1% who really know their stuff. And really, the few experts who do know what they're doing will be investing in more legitimate places. I'm not saying it's not possible to make money on Bitcoin - of course it is - you can give a chimpanzee a coin to flip and one person can go with its coin toss result and the other against it - one of the two people will win money. People can try and analyse and look into data and the latest news and do as much research as they like, but at the end of the day, if it was as easy as that then everybody would be doing it. Investing (and I use the word extremely loosely), on cryptocurrencies should be seen as nothing more than a bit of fun and something to talk about with your mates. The days of making big bank on Bitcoin are over, unless you're willing to risk an insane amount of money, or hold onto it in the hope that it will someday reach $100K per Bitcoin or something mad. There are a few things you can look at to give you a sense of knowledge on your next trade, but for every article saying that Bitcoin will rise, there'll be an equal amount saying it's going to fall. Again, I'm not saying to not get into it and that you can't make money but it is just a glorified coin toss at the end of the day. If you're looking to try your hand in Bitcoin, the best thing to do is to stick whatever you can afford to lose into it and ignore any charts or news updates for a year - and see whether you've made anything after 12 months. If you're looking to make money by investing, you should be looking 20+ years and be putting your money in something like a lifetime ISA or tracking a fund. Edited June 22, 2019 by Undefeated Steak Quote Link to comment Share on other sites More sharing options...
MPDTT Posted June 22, 2019 Author Share Posted June 22, 2019 17 minutes ago, Undefeated Steak said: Here's the thing though - it is a coin toss. There's only ever a 50% chance of which way it will go next. And that's not accounting for the fees you pay on an exchange. So you're always going to be starting against the odds. Trying to make money from quick trades on any currency is nothing more than a glorified version of playing red or black on a slot machine, unless you're one of the less than 1% who really know their stuff. And really, the few experts who do know what they're doing will be investing in more legitimate places. I'm not saying it's not possible to make money on Bitcoin - of course it is - you can give a chimpanzee a coin to flip and one person can go with its coin toss result and the other against it - one of the two people will win money. People can try and analyse and look into data and the latest news and do as much research as they like, but at the end of the day, if it was as easy as that then everybody would be doing it. Investing (and I use the word extremely loosely), on cryptocurrencies should be seen as nothing more than a bit of fun and something to talk about with your mates. The days of making big bank on Bitcoin are over, unless you're willing to risk an insane amount of money, or hold onto it in the hope that it will someday reach $100K per Bitcoin or something mad. There are a few things you can look at to give you a sense of knowledge on your next trade, but for every article saying that Bitcoin will rise, there'll be an equal amount saying it's going to fall. Again, I'm not saying to not get into it and that you can't make money but it is just a glorified coin toss at the end of the day. If you're looking to try your hand in Bitcoin, the best thing to do is to stick whatever you can afford to lose into it and ignore any charts or news updates for a year - and see whether you've made anything after 12 months. If you're looking to make money by investing, you should be looking 20+ years and be putting your money in something like a lifetime ISA or tracking a fund. So you discard the technical analysis that predicts which way a coin is going? Technical analysis, in the simplest form, trading the moving averages, means it isn't a coin toss Quote Link to comment Share on other sites More sharing options...
MPDTT Posted June 22, 2019 Author Share Posted June 22, 2019 25 minutes ago, Undefeated Steak said: Here's the thing though - it is a coin toss. There's only ever a 50% chance of which way it will go next. And that's not accounting for the fees you pay on an exchange. So you're always going to be starting against the odds. Trying to make money from quick trades on any currency is nothing more than a glorified version of playing red or black on a slot machine, unless you're one of the less than 1% who really know their stuff. And really, the few experts who do know what they're doing will be investing in more legitimate places. I'm not saying it's not possible to make money on Bitcoin - of course it is - you can give a chimpanzee a coin to flip and one person can go with its coin toss result and the other against it - one of the two people will win money. People can try and analyse and look into data and the latest news and do as much research as they like, but at the end of the day, if it was as easy as that then everybody would be doing it. Investing (and I use the word extremely loosely), on cryptocurrencies should be seen as nothing more than a bit of fun and something to talk about with your mates. The days of making big bank on Bitcoin are over, unless you're willing to risk an insane amount of money, or hold onto it in the hope that it will someday reach $100K per Bitcoin or something mad. There are a few things you can look at to give you a sense of knowledge on your next trade, but for every article saying that Bitcoin will rise, there'll be an equal amount saying it's going to fall. Again, I'm not saying to not get into it and that you can't make money but it is just a glorified coin toss at the end of the day. If you're looking to try your hand in Bitcoin, the best thing to do is to stick whatever you can afford to lose into it and ignore any charts or news updates for a year - and see whether you've made anything after 12 months. If you're looking to make money by investing, you should be looking 20+ years and be putting your money in something like a lifetime ISA or tracking a fund. If your interested, I suggest you follow the Nictrades group on Facebook for free and or watch the weekly free crypto analysis. This was from Monday gone: I think after 5 minutes you'll appreciate the value of technical analysis Quote Link to comment Share on other sites More sharing options...
Recommended Posts
Join the conversation
You can post now and register later. If you have an account, sign in now to post with your account.