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Magicpoopcannon

BTC Volume Gap and 4k consolidation: What's next?Well, as u might see on my related Idea, I was expecting a symmetrical bottom triangle breaking downwards, but seems like I was too early on the diagnose. As the market continued to develop it's structure, we appreciate an ascending triangle, pushing price above the 4k big resistance. This give us a consolidation level, and at the gate of a HUGE volume gap. And mkt depth give us the idea of an increase in volume on the last 2 months. Image: imgur.com Disclaimer: This is not a investing advice. The black forecast I draw is just one (1) of many possibilities, it all depends on the money flow, specially fresh money flow. At this moment I'm trading this idea, so it might be subjective. You must do due diligence.
BITSTAMP:BTCUSD
by BiO-618
2
Another Bull trap? Until i see the 3630 area broke and close on at least a 4 hour candle this is still bearish. Be careful in this area! Currently my eye is on the 3k level looking for a support at about 2850 approximately. My true target call for BTC at this moment is 1228. YES 1228! Give or take whatever but here are the facts this is a Bear Market and until the last person sells from panic or despair purely giving up then This is not over. IMHO I dont do alot of chart reading of others but i do check in on magicpoopcannon and Botjei and they both couldnt be more correct in the given time! Stealing a quote from magics recent post "Dont catch a falling knife"
COINBASE:BTCUSDShort
by 2Legit
2
Clear proof you should avoid shorting and HODL LTCI've followed a few posts of MagicPoopCannon and it's painful to read. This is probably going to be a lot of writing. In early posts, he states "past success is not indicative of future success" and HODLing is for idiots. He says BTC/LTC doesn't pay dividends and shorting is for people who want to make money. He then talks about his ego and whatnot. After numerous people started following his style of things (shorting), he's now made a post about how the market is basically doomed. People also talk about intrinsic value and whatnot. 1. There is not a single Bitcoin multi-billionaire through shorting. You can argue it's because they entered the market early, but the price dropped in the past and there's been shorters in the past. 2. To short, you have to have your coin on an exchange, this is not only insecure (the exchange can be hacked & some don't offer insurance), but you potentially miss out on a fork. 3. A fork is the closest thing we have to dividends. There's no real reason to be discussing dividends anyway, as cryptocurrencies are, by their very name, a currency. However, if you want to draw parallels to stocks, I'd argue a fork is a better payout than what the GBP gave with the brexit crash. 4. Forks are why it is logically impossible for Bitcoin to go to 0. You see, if Bitcoin drops to 0, I will buy all of them. Then when someone thinks of a better currency based on Bitcoin, I'll be the worlds most wealthy person. 5. Intrinsic value doesn't really exist. We have no worth. What we make has no real worth. The world will go on without us. A phone has no worth if no one else uses it. The internet has no worth if no one else connects. A car has no worth if you have no destination to go to. Paper cash has no worth if tomorrow the government says it's banned. The only value to something is belief. If you believe something is valuable, it becomes valuable. 6. When traders trade, they look for patterns i.e. they use past success and failure, to indicate future success and failure (yes, I know, MPC said past success isn't indicative of future success, shocker, he was wrong). If people think the value is going to increase and then stop at point X, they will sell just before point X. When this creates waves, the waves get smaller over the same time scale because people stop slightly before each time, to make sure they make the sale. When the waves flattern out or at the end of the wedge, their belief changes which is why the price suddenly changes more. This creates instability. 7. Whether you chart 1min, 5min, 15min, 1hr, 4hr, 1day, 1week, 1month, 1year, doesn't matter. By believing the price will change and following the same patterns as others, you instigate the price changing. It is a self-fulfilling prophecy. 8. MPC's calls were most accurate when he had the most viewers. He had 1 million viewers in 1 month. Imagine 1 million people all betting $10k on LTC at a resistance level. That is more than enough to influence the price. In other words, it's an elaborate pump and dump group, a self-fulfilling prophecy at best. He's not the only trader to do this. There are millions of traders influencing people to buy and sell. 9. Millions of people buying and selling on cue != Whales pumping/dumping. 10. If everyone holds, the price rises. The price can ONLY rise if people don't sell. You can argue that if you hold, the price drops and you lose money, but that ONLY works if people are shorting. HODLing works, but don't criticise the strategy if it's not being followed. 11. HODLing forever is bad because you don't want exponential increase all the time. However, things are very new still. Companies like amazon, ebay, etc. haven't got aboard, but while the price is jumping around and mostly going down, they're going to be less interested. If you HODL, you help stabilise the market or at least help it look positive. 12. Lasers, microwaves, cars, the internet, books, phones, television, smartphones, etc. were all hated. Tech prevails
COINBASE:LTCUSD
by choppp
2
Move Over MagicPoop, the Real Wizard is Here. ETHEREUM!@MagicPoopCannon is a legend here on trading view... but the time has come my friends, for him to be replaced by the apprentice he didn't know he had, CoreyAvery! One week ago, my friends, I posted a chart on Etherium, appropriately titled "Beartherium". Within that master of a chart breakdown, I predicted a head and shoulders target of $598. At this very moment, we are consolidating and possibly moving PAST ... exactly at my target... WOW! If you have been following, you'll see that I post a chart, and the market adheres to my predictions... what a beautiful thing! If you're not following, make sure to do so because my profile is where the REAL MAGIC happens. This is not an analysis, I've been posting them left and right, but this is me staking my claim as one of the greatest trading view traders of all time! @MagicPoopCannon, thanks for all you've taught me, but it is time for you to step down as I am here to take the reigns! Follow me for more masterful charts and predictions. Wow!
BITFINEX:ETHUSD
by CoreyAvery
1
Possible Gartley PatternThe lengths of some of the triangles a little wonky but traced Fib levels relatively accurately to validate this Gartley Pattern(Bat i think??) Still learning! Potential buy with a tight stop loss set. Volume seems to be mostly sell side but hopefully we close the daily above the 200. Starting to show a twinkle of life. I think the people who sold their Mt. Gox funds knew it would cause a downturn in the market and they will be buying back in soon. (Just my opinion) Let me know your thoughts. I have a long ways to go in terms of TA. Thanks all. @magicpoopcannon... your my inspiration hahaaha
BITSTAMP:BTCUSD
by Sniklefritz