Bitcoin Forum

https://www.tradingview.com/i/Roe07qrZ

Is anyone else feeling a breakout soon? Market volume is very low but with recent mining difficulty increases (25%!), stock market instability (Nikkei especially) and Liberty reserve shutdown that we are overdue for money moving away from the above and into Bitcoin?

Considering the large amount of bad news in May and that Bitcoin did not crash and correct further gives me faith that we will see a price rally fairly soon on undervalued coins.

Thoughts?

I think a big factor is heavy duty, professional currency exchanges. Once we see an exchange that can handle huge volumes and also has a high powered legal team, bitcoin will start going up fast. Could take a while.

not yet. volume is too low.

Also your lines are kind of arbitrary since they are not drawn from the candle wicks but from the bodies which do not pose any significance when it comes to trends. If you want to draw trendlines based not on price extrema you should look for volume spikes.

LR money is not moving into bitcoin, I remember someone posting a screenshot from a forum where they said that they want nothing to do with bitcoin as it is too volatile. Also exchanges want to guard themeselves against LR action and are requiring more verification. Breakout is materialising right now, to get back to 130 level we need a 3M dollars buy, similar sell puts us into 105$ area. Breakout materialised already and it seems to be going down.

Nice to see you have decided what millions of dollars of LR money is doing because of a screenshot someone posted on a forum. You must be very intelligent.  8)

(For the record, I agree that LR money isn't moving to bitcoin - at this point in time. But everything is a cost/benefit analysis - even volatility. Eventually, the criminals won't have much other choice than bitcoin.)

http://bitcoincharts.com/charts/chart.png?width=940&m=mtgoxUSD&SubmitButton=Draw&r=90&i=Daily&c=0&s=&e=&Prev=&Next=&t=O&b=D&a1=&m1=2&a2=SMA&m2=100&x=0&i1=&i2=&i3=&i4=&v=1&cv=0&ps=1&l=0&p=0&
Here, lower breakout if it crosses 100day sma upper if it reaches daily donchian channel.
parabolic sar already points downwards but you never should use that alone.

It's not based on screenshot, It is my own opinion and screenshot was a nice confirmation of the sentiment.

Thanks for the link, looks promising.


Also @ OP: I feel a breakout coming as well.

my analist predict today under 110$

Your analist..... I'm not sure I want to know what their job entails

 :D

well, he might have got insight...never mind.

Tell her or him not to quit their day job.    ;-)

I bloody hope so. I am mostly bought in at $128-129 a coin and my hand is like the iron grip of Soviet Russia. $112 is a good price for me to increase my holdings. Lower than $100 will cause panic.

I wouldn't rate it as likely, but if I thought I would panic under $100, I would reconsider my positioning.

Much like all the integers of 10, 100 or 3 digit prices are such a large psychological barrier that I believe there will be a long and bloody fight for this position.

A good prediction which was 100% correct as the low so far today has been $106.15

I notice the derisory comments when someone suggests the price might go down. This reminds me of early April in some ways.

Did you perhaps mean "multiples of 10 up to but not including 100"?  ;D

Check out how many times we have bounced in this price region. I'm feeling it will find good support in this region. Even with larger whale dumps, there are still those who buy in. Harpoons primed at $100 a coin?  :D

Those who buy in within these ranges are day traders. They will trade it all day every day within it's range whatever the value.

I don't expect a breakout until there is more good news. June-August are vacation months in USA. There really isn't anything exciting going on in Bitcoin, so maybe getting outdoors and forgetting about it is a good thing. Bitcoin cannot die. Repeat after me. "Bitcoin will always bubble."

I knew it. Now to withdraw the damn 401k and dump to bitcoins  :D