Your trendline should really be drawn on a logarithmic scale... that, coupled with the swing high around $300 and 200-dma, a close above $305 on the daily should mark the end of the downtrend if there is follow-through.
Log long term downtrend (330-350) is next target on breaking this one. However no. Daily Sma200 is next (290). Sma200 and log downtrend form a significant resistance levels. Market will need a lot of momentum and time to break them I suppose. I turned a bit optimistic because of: 1. Daily BB collapsed suggesting start of significant short term move. 2. Price went to its positive territory. 3. Daily adx also collapsed pointing to start of something point. 4. Weekly Bb collapses suggesting start of significant midterm move. Yet price is still in negative zone. 5. Daily and weekly macd show some sort of bullish hook last days. So both short and mid term indicators shows some development in final stage, while macd hints it may be bullish. And then price tries to break not a small downtrend line. Another hint? Let's see. In a bullish scenario there are a lot of resistances in 250-350 area: * daily sma200 * weekly sma 10,20 * weekly upper bb * long term log downtrend line And I recognize them as hard. First and last are most hard. Trend may easily reverse on them. So here is my small brainstorm on this situation. much appreciated as always  |
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Interesting quote “The power of friction-free transactions over the Internet will unleash the typical forces of consolidation and globalization, and we will end up with six digital currencies: US Dollar, euro, Yen, Pound, Renminbi and Bitcoin.” -- Charlie Songhurst, Microsoft’s head of corporate strategy Anyone want to make an estimate of BTC value assuming it is widely used as a currency everywhere in the world except those five markets? in that case it would definitely be in the billions/ trillions... but i fail to see how the other currencies were to survive in this case. |
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Oh Lord... this ship will sink even faster than expected now. With this exchange all the hacked and scammed coins can be dumped much faster. Prepare for free fall..
The desperation is strong with this one. |
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I am suspecting a long stabilization periode as a next move unsatisfying bears as well as bulls.
Indeed. The herd is right until they aren't. Stabilization for another few months/ maybe even years lets people know that this is the floor and the psychology around bitcoin being "expensive" will gradually change. When that does... we go up again. There's too much manipulation in Bitcoin. Those people we saw on BTC-E 2 days back won't let it stabilize, unless by that you mean constant trading in the 200-300 range. Yet, people still go out and buy the coin due to fear of missing out.  Thats a constant cycle, since most believe the last 6 years since its launch will have a better year for each prior. But all the manipulation is out of anyones control, instead I`d worry about how to hedge my risk. hedging risk is so 2013. If anything, 2015 is about getting risky. |
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I am suspecting a long stabilization periode as a next move unsatisfying bears as well as bulls.
Indeed. The herd is right until they aren't. Stabilization for another few months/ maybe even years lets people know that this is the floor and the psychology around bitcoin being "expensive" will gradually change. When that does... we go up again. There's too much manipulation in Bitcoin. Those people we saw on BTC-E 2 days back won't let it stabilize, unless by that you mean constant trading in the 200-300 range.That's "Bitcoin Stable" ^^ |
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I am suspecting a long stabilization periode as a next move unsatisfying bears as well as bulls.
Indeed. The herd is right until they aren't. Stabilization for another few months/ maybe even years lets people know that this is the floor and the psychology around bitcoin being "expensive" will gradually change. When that does... we go up again. |
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log chart with some lines on it.
if we do fall to bottom of it that channel it is still unlikely price will drop below $100. However for reasons I've given elsewhere I suspect we already saw the bottom. I give zero chance of seeing $30 bitcoin. Looking forward to bitcoin busting up through top of that channel which could be the start of something huge
what is the basis of your dark green support line? I see it cuts across, but, where does it begin? you can see the support by the times it comes near the line and then bounces off. |
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the russians know something |
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Unfortunately those graphs are not really very useful anymore due to the increasing fragmentation of exchanges as well as the fact that bitstamp was hacked and is continually losing market share. The only way to draw a meaningful conclusion based on volume would be to aggregate the data from all available sources (and somehow be sure that the chinese data is accurate).
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I believe we are going lower as well probably, but the chart that myself uses as reference for correction is (as referred to above) complete bullshit. As Luc says, TA is "unlocked" by fundamental events. It would take a massive amount of fundamentally terrible events for it to go anywhere below 150. Unless that happens, that chart is just bear porn.
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honestly, how many people post in here without even trying to understand the links I posted? No, not those cards. The bitsim card redirects encrypted transactions through the sim cards. Unless the NSA can crack SHA 256, then no they cannot crack those transactions. |
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these rumors are perspective, but I highly doubt it goes wherever further than that
why post if you arent going to even read the links? |
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No effin' way in hell I'm trusting my btc to a proprietary hardware phone wallet that'll be backdoored by the NSA/gov't, and can track every single transaction made.
You dont have to with bitsim. Everything is on the card. |
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Long story short, I'm a long time hodler. I don't look at the past to predict the financial potential of bitcoin. TA, graphs of previous convertion rates against US dollars or even statistics of current longs/shorts are sources i would use to predict the future. Yet, I'm following the story of GBTC with as big and wet eyes as you. Is Wall Street going for it? I think an upward movement in price of bitcoin is extremely relevant for adoption. It's exiting times! I think you mean exciting times... lol. |
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This gives me tingles in my toes. Every cell phone can now be a hardware wallet that uses encrypted sms to broadcast. BitSim is my new favourite thing. It's pretty awesome... On the downside: what about privacy? Seeing as everything is encrypted it should be private even in contract phones. for the paranoid there are always pre paid phones. In any case I dont see that need being terribly relavent for this market. This is the beginning of the killer app era for bitcoin. |
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Grexit seems almost inevitable these days. http://www.theguardian.com/business/2015/apr/16/greece-moves-step-closer-to-grexit-after-imf-snubAfter that all eyes will be on Spain and Podemos. From a bitcoin perspective it seems self serving to cheer for currency crisis, but to my mind it appears to be the lesser of two evils. The Third option that nobody is talking about is a federal European union. I just can't see any member state willing to give up autonomy for "the good? of the union'  I can't help but get giddy thinking of this house of cards so near to falling. |
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That link is dated 5 months ago or am i missing something here? yes, he updated the chart with some further thoughts - hence my post. |
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