Is there any TA to back up your statement?

Because they are

Bad Traders

Not because

Trading is bad

There's nothing significant about 2800. Breaking 3200 would be significant.

Daily chart breakout plus a couple news items. My question is why has it NOT risen 20% like the previous breakout. Pretty weak.

Here's how I came up with $510. I'm not sure if we'll even get there though.



Look at daily chart stoch RSI also.

Based on the giant orderbook on finex and nonexistant orderbook on stamp I'd say a short squeeze is occuring on finex.

What makes you think you can use the population of the world in a calculation like that?  Most human beings are either too dumb or too poor to even operate a computer let alone operate something like bitcoin.

My inner bear only grew stronger when the 1 week chart was dealt the knock out punch this week. For me to become bullish again, I would need to see signs of reversal on 3D and 1W charts. Here are some events that might help too:

1. Chinese situation is put to bed, one way or the other.
2. New regulated exchanges open in U.S. (even more bullish if you can buy real bitcoins and not just derivatives)
3. Federal government (not just new york) comes out and endorses bitcoin.
4. Plans to have the ability to upgrade from EC and SHA256 are begun.

I also bought when you were buying. I bought at 400 remember? Since your 448 purchase, I have also bought at 520, bought at 570, sold at 710, sold at 630, made several successful shorts on the way down to 340, covered at 340, made a couple successful long trades on the way up, and am now long from 425.

I suspect another one of these cycles could occur, which will go up when nothing happens on April 15th, then go down again when there is another chinese government action (or rumor) for a new kind of enforcement.

Or maybe this one, but this would mean we aren't even rallying right now.

My new favorite chart:

Listen to "mooncake" - he has your best interests at heart.

:/

I'm not shorting right now  (I actually took long on the 425 retracement); I'm just not expecting much. I'd caution against shorting until some TA indicators actually go back down, just in case.

This breakout is weaksauce.

Everything is happening in proportion to the last breakout in March relative to volume.  It should be over when Stamp hits 30,000 volume.

What a sad state of affairs we are in that we call actually using bitcoin as an electronic payment network and a currency "ideology" - as if these things are second hand to price speculation and pumping. It's as if bitcoin has been swallowed up by a commercial borg of greedy people who want to use it as an advertising slogan just to get as much 'investor' money in, perform speculation, and profit off of other speculators, without neccessarily doing what is actually good for bitcoin and increasing its adoption. All these investment derivatives are just a construct surrounding bitcoin that doesn't really have anything to do with Bitcoin itself.

Any news relating to Chinese bans and exchange deposit methods is sufficient for this purpose. We don't need to have the debate about whether there is an actual ban.