Seems like a lot of people buying on Huobi (probably wall street), people must be realizing that the downtrend will be reversed soon. Within a few months price will be at 100k $ per bitcoin, I am holding and buying.
Yup that's exactly what the wall street big boys are trained to do - wire money to some strange unregulated chinese exchange that is less than a year old so they can buy a speculative commodity right as it's entering a 1W ema downcross. |
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this is the weakest attempt at getting pigs to panic lol.
Someone was bored. Why is there always a conspiracy theory about the slightest bit of trading volume? Do you really think that everyone who places a trade has some elaborate plot other than adjusting their own position, about how it's going to manipulate the entire market? I guess everyone needs to just stop trading bitcoin right now because we're all manipulating the market somehow. |
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Why is 1,000 btc dump considered an insider move? 1,000btc is nothing. In normal btc trading, there are 10,000 dumps all the time just from regular people trading.
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it's funny i don't even have to look at the charts anymore. i can just look at this thread. i know that if it breaks 460, everyone will be freaking out about it
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Im not calling bitcoin itself a ponzi, but this mentality where you have to convince other speculators to "hold" resembles that of a ponzi. if its really that strong fundamentally, then there should be an elastic support so that sellers cannot drop the price that much until eventually all coins are bought by new buyers. you shouldn't be fearing that if 1% of an asset is sold, it will collapse. let's say you're trading GOOG - you don't give a crap about what other traders are doing and you know it doesn't matter.
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 despite all the news following the first hit, we have spent more time above the low of the first wave. The first wave is where the volume is at, that's where I believe capitulation took place. You believe that capitulation took place with 40k of volume?? lol |
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Didn't they make a post earlier stating that "415 events are rumors to create fear"? Now they state "not affected by 415 events". that is contradictory. They are dishonest!
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Also, a price supported by entirely by holding and not by buyers is very weak - it is unusable by merchants due to the lack of liquidity. It is in effect a ponzi scheme.
You should be ashamed of yourself for being involved. What would your mother think? Go away. I have a history of trading ponzi schemes actually, and then getting out just in time before they collapse. It all started when I was 18 years old and I partipated in a ponzi called "12 daily pro", turning $5,000 into $15,000 in a few weeks. Of course the members insisted that it was not a ponzi at the time. It was.. "the future of advertising and multi level marketing" bla bla. |
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  this is how it was on the night before 700 on stamp. the market can so easily surprise. if this bounces off 400, that's a strong bull signal and could go to 600 easily. No way. 600 is blocked by about 5 different resistances in the 1D, 3D, and 1W charts, and is also blocked by that diagonal line at 540. I don't know what makes you think there would suddenly be a surge to 600 from 455 based on a low volume breakout on daily charts. The breakout from 570 to 700 was backed by a reversal day with 120,000BTC of volume. |
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You don't really have proof of how many people are 'hodling' and how many are dedicated to holding and aren't just waiting for their chance to get out. Also, a price supported by entirely by holding and not by buyers is very weak - it is unusable by merchants due to the lack of liquidity. It is in effect a ponzi scheme. |
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Also note there are no 1,500BTC bid walls accumulating coins this time.
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One reason why the breakout would be weak is because is because it has a very small base beneath it in terms of price appreciation and volume, especially volume. There was only 40K volume done on the day that the bottom was formed, which is nothing for a reversal day. I was surprised it even bottomed there and didn't keep going down.
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Hong Kong will eventually ban bitcoin too and take bitfinex with it.
Every advisor I've spoken to has told me of all the places with bitcoin exchanges (besides China), Hong Kong was the #1 weakest place.
I was opening an account with a brokerage house in the U.S. today and even then I had to sign a "Hong Kong risk disclosure" for when I trade something in Hong Kong.
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Little breakout on daily possibly starting, going to 530 max if longs are lucky but probably more like 500. After that, downtrend resumes and eventually 400 is broken.
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Everyone thinks we're due for a rally now and most people's reasoning includes that there has been a rally every 9 months. "It has happened 4 times, and now it will happen again", right? Well, if you look at a one week candle chart, and you look at the rsi, you will see a divergence in this last rally, indicating that the trend is over. This could be seen all the way back in December.
... It could be that bitcoin is coming to it's end. I think there are two fundamental arguments here. - bearish case bitcoin prices are artificially high (MtGox) and nobody is really interested => the price will fall. If the base infrastructure cant develop fast enough to save it, the speculative weight will kill it for good. This will likely be decided in 6 months time or so. - bullish case. chinese demand drove the market to genuine highs. The ban on third party deposits is thus a very short term problem because it takes insignificant funds to reach fresh ATHs and infrastructure is evidently developing at an exponential rate outside of china. Exchanges and investment vehicles opening in Europe and USA will thus easily support and drive the price to new ATH in the next 6 months. Investors will not allow each other to let the price fall too far in this case. I think the bullish case is true. bears are running out of time quickly before a nice surprise comes along. Why are there only two cases and why do you believe that a downwards move from here is the end of bitcoin? It could very well recover in some years time. |
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Everyone thinks we're due for a rally now and most people's reasoning includes that there has been a rally every 9 months. "It has happened 4 times, and now it will happen again", right? Well, if you look at a one week candle chart, and you look at the rsi, you will see a divergence in this last rally, indicating that the trend is over. This could be seen all the way back in December.
I don't expect the rally of huge proportions yet but it's only China uncertainty that it keeps it to have a nice 15-20% rise. 1 day charts are not bearish at all, they are on the border of a move up. 1 day chart could break out but right off the bat it's blocked by 3 day charts at 490 and 590 and that downtrend line at 550. It's almost not worth the risk to make the trade, especially when Huobi could just shut down at any day. |
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Everyone thinks we're due for a rally now and most people's reasoning includes that there has been a rally every 9 months. "It has happened 4 times, and now it will happen again", right? Well, if you look at a one week candle chart, and you look at the rsi, you will see a divergence in this last rally, indicating that the trend is over. This could be seen all the way back in December.
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Would you give up trying to convince everyone that this is the bottom and the reversal is about to happen to a new ATH you clowns. You know very well from these charts that the odds are we are going down even further, below 400, but you're angry because you're stuck in your stubborn HODL position. I guess HODL isn't so glorious now, is it.
... The market has been flat for 9 days despite 'utter disaster', something I expected.... and I assure you, HODL is better than shotr right now. we are in territory for a reversal. I dont see why the odds are that we are going down. Im not going to put too much faith in your macd. and this is not a trend as such, it is a correction. It's just a dead cat bounce off of a major support level and the fact that it's spent so much time so low against this support level with such low volume is not bullish at all. |
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Would you give up trying to convince everyone that this is the bottom and the reversal is about to happen to a new ATH you clowns. You know very well from these charts that the odds are we are going down even further, below 400, but you're angry because you're stuck in your stubborn HODL position. I guess HODL isn't so glorious now, is it.
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 Look at this chart and tell me how many times a single move on huobi jumps up more than 25%. |
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