Could be, or we may have just topped at 509.
Let's see how this will plat out!
Are you thinking of a C wave analysis? |
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Yes, because I don't know much about buying bitcoin, so I'm trying to learn from people more experienced than I am.
That's dangerous. a day trader and a long term holder may express different trading ideas, and they may both be right. if you take those both of those opinions in the wrong way, you can lose very efficiently. Listen to Rpietila, he is trusty and experienced, and not a day trader. |
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If I am not mistaken, this run will take Bitcoin all the way to 6500-7000 USD (based on how it rose last bull run from 60 to around 1200).
There might be some flashcrashes on the way but the major correction will come when the price is at the range of 6500-7000 USD.
I have been buying coins and even today I made a fiat transfer to Bitstamp so fresh cash is on the way. I still have significiant cash reserves to push the coin higher if it is necessary. Right now I do not recommend to short. The odds are that the price will go pretty high. Who am I to stop BTC running even towards 10 000 USD?
That is one heck of an assumption and the thinking that lies behind every speculative bubble in history. I'm not going to put a ceiling price on bitcoin, but I won't make assumptions like that either! yeah lol.... cant trust fools to buy when it's cheap..... and you cant trust them to stop buying when it's expensive! mania knows no ceilings. |
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 This may be overly forward looking, but this is roughly what I am expecting in the coming days/weeks. 600 may put up a fight. Correction may enter 400s again, but I think that 500 may become support. |
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Will do. Thanks.
Get to learn the hard way that trading is not for me.
there is only one way to learn how to trade. the hard way. also, I think for an asset that has grown 8000% in a year, we should never be surprised when it halves! hold on tight! |
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Right now these markets are like 98% day traders just following each other around in circles. There is no fresh fiat coming in anywhere (and by "no" I mean no substantial bull market fiat).
evidence please. prove there is no fresh fiat. order books are growing every day. windjc and others haven't probably considered the effect that Gox and other exchanges' fall has had on the market landscape: - It has made people wary on sending fiat to exchange, yes (this is the visible effect). - But it has also made them search for and use the alternatives (this is the invisible effect). Lots of trade is happening in services like Bittiraha.fi, who make markets locally (and local = Europe in this case). Judging the volume from exchange data is hilarious. Equally hilarious is the day when the positive balance of the local market-making hits the exchanges. That demand is in the form of market orders. I for one think that the exchanges are a drag on Bitcoin's longer-term health (and have been on this line since $50). Consequently, I think that the development that people don't trust the exchanges any more is good. Why I try to exhort people buy now is that you deserve it (after so much pain and misinformation)! Reading this thread only and following the prevalent mood would have made you buy at $1000 and sell at $400, but the reverse is how you make money. Thanks Risto. so while fresh fiat may not be entering, do you think there may be a surprise shortage of bitcoins to satisfy margin calls? (due to accumulation off exchanges - the invisible effect) |
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My question is what good news has come out of China?
That they haven't completely closed down operations? Is that the good news?
I mean, how easy is it for the normal Chinese investor, much less mom or pop, to get money into a bitcoin exchange in China? Not easy.
Right now these markets are like 98% day traders just following each other around in circles. There is no fresh fiat coming in anywhere (and by "no" I mean no substantial bull market fiat).
evidence please. prove there is no fresh fiat. order books are growing every day. |
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some have said less flattering things about EW analysis, mine being no exception  where to next? up or down we are having a battle at 500. if we take out 500, this breaks the back of the bears for many reasons. I would assume a iii wave interpretation, and expect a rally to 600 in the coming days. |
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lolzzz..yeah... umm.. NOPE !@
DanV is a TA king. He predicted all major bitcoin drops the past few months. So, I doubt he will be wrong this time.  ....TA does not forecast. TA is risk management. |
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 im not a bear but that's a positive reaction the the wedge (hammer). too early to say much more. |
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some serious resistance at houbi ~2990
5k coins traded at 3000  |
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wow there is a nice wall there! who would dare chase the price in this volatility! hope it is genuine, this could go far.
.... very healthy bid side. 2k bitcoins to break 460.
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One thing is certain. it's getting HOT
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You were a good bear TERA. we will miss you |
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 wedge breakout is still valid. |
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the upper wedge has gravity to it. it needs to be tested before the decision point.
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we are talking about a $10 candle, but who saw the bull run coming yesterday? mwa. If you are expecting an unexpected candle, I think you might just get one |
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Wasn't today the end of bitcoin?
yep it's all over. move along folks! nothing to see here...... |
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It's a risky business, but we are looking for edges here. the deadline has come. If deposits are not closed in the next day or two, I dont see why we should expect them to. I do not see a motive. The chinese officials are not accumulating on the exchanges (if that's what you believe...) so why would that help them?
... and if they are, then there IS fiat on the exchanges.
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