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On an intraday scale, China chart is looking bearish now with a false breakout. It is going to fall again and then take at least another 1-2 days to consolidate before we can really break out (to +$465 on stamp), if nothing bad happens in the meantime.
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Here's why $265 is a likely support level. It is not because of ATH.  |
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You don't need new money to rally, you just need people to stop selling and all the previous seller to want back in, pretty simple really.
That will only cause a recovery somewhere into the previous trading range. That isn't actually going to push it to rally into new highs without any new money coming in, though it could lead to the new money coming in. |
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What if April 15th rolls around and nothing happens just like the last deadlines that have trickled out of China. Its hardly ridiculous to think that while everyone sits around waiting for China news to drop the price again it generally creeps upwards leading to a couple of weeks of super worried bears
Rumour - we go down 100's. Good news - we go up 20 dollars. And in the interim we could easily go up $100 just waiting... Good think I have trading indicators to tell me what to do. |
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It wont break 405 ...toooooo much strength
It is such a different world than were we where 6 months ago
I.E the fundamanetals are soooo much stronger
Have you seen the 1W EMAs, the volume, and the Bitstamp order book? It looks awful. It's the worst orderbook of the major exchange that I've ever seen. All it takes is for someone to market sell 6,000BTC at once and viola your 405 is broken. |
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I know it doesn't look like it's headed to 540 right now but such could be fueled by some big wall-street-related news as always, as well as more anti-china-'FUD' propaganda by exchange owners. Wait for 1D MACD to cross and things get crazy.
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You guys are still calling the China bank situation FUD even after btc38 and another Chinese exchange stopped deposits? Are you just going to continue to shout 'FUD' as they drop one by one around you, until there is only one left and you're still saying FUD because there's still that one... Is it because you're listening to Bobby Lee's statements? Bobby Lee is a pumper and a liar.
no because there is nothing to verify any plans of a ban. they just issued demands for compliance with the policy set out in dec 5. but now people are expecting a jan 31st deadline on april 15th So you acknowledge that the PBOC is demanding that the exchanges stop the banking, and that the exchanges are disobeying. How can this possibly be bullish? Your whole case is that that you believe that no enforcement action will ever happen - The PBOC or the chinese government is never going to enforce the demands of PBOC and actually shut down the accounts. Right? That's pretty weak. That was the same story in the last 3 false recoveries. It's like you're just asking for more punishment now. You know that inevitably it's going to happen, and that any recovery or bounce is false because we haven't actually recovered and moved on from Chinese banking influence. I suppose this one last little denial is perfect for a little bounce to fill in the rest of the triangle before it breaks down. How high will this bounce go TERA? I say no higher than 2800, probably 2750. I have trouble with reading the Chinese charts but, if this evolves into a serious bounce rally, Stamp could go anywhere from $500 to $580 with a most likely target of $540, all depending on how much hype there is. |
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You guys are still calling the China bank situation FUD even after btc38 and another Chinese exchange stopped deposits? Are you just going to continue to shout 'FUD' as they drop one by one around you, until there is only one left and you're still saying FUD because there's still that one... Is it because you're listening to Bobby Lee's statements? Bobby Lee is a pumper and a liar.
no because there is nothing to verify any plans of a ban. they just issued demands for compliance with the policy set out in dec 5. but now people are expecting a jan 31st deadline on april 15th So you acknowledge that the PBOC is demanding that the exchanges stop the banking, and that the exchanges are disobeying. How can this possibly be bullish? Your whole case is that that you believe that no enforcement action will ever happen - The PBOC or the chinese government is never going to enforce the demands of PBOC and actually shut down the accounts. Right? That's pretty weak. That was the same story in the last 3 false recoveries. It's like you're just asking for more punishment now. You know that inevitably it's going to happen, and that any recovery or bounce is false because we haven't actually recovered and moved on from Chinese banking influence. I suppose this one last little denial is perfect for a little bounce to fill in the rest of the triangle before it breaks down. |
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You guys are still calling the China bank situation FUD even after btc38 and another Chinese exchange stopped deposits? Are you just going to continue to shout 'FUD' as they drop one by one around you, until there is only one left and you're still saying FUD because there's still that one... Is it because you're listening to Bobby Lee's statements? Bobby Lee is a pumper and a liar.
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Warning warning, flatlining on low volume again  Why? We had over 1000 on stamp the last hour and at this hour (17min) 250 coins so far? 1000 coins per hour = 24,000 coins per day = low volume. Although it's better than when were in the 600s with 8000 volume per day. Ah ok, so the mean daily volume the past 30 days was about 16 000 and 50% over the mean volume is considered as "low". In january the mean volume was maybe 10k per day. 24 000 would be pretty decent. 1. The volume has always been low on stamp. It symptomatic of a problem, a bubble, or a reliance on other exchanges. In January we had mtgox and all the chinese exchanges leading. Now with the chinese exchanges leaving and bitstamp taking the role of the primary exchange, it's going to need to pick up much more volume. 2. In terms of reversing from a short-term downtrend, reversal days have always had 100K+ volume. |
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On stamp there are 115.98btc order all down the order book. In intervalls of 5$, so 69. I think this is one guy and he is biding for around 8000btc. Can somebody explain this to me.Why does he use always the same amount. So that people know that it is from one guy?
Maybe for accounting purposes... easier to keep track.. ? I am with you that on the face it would seem better to disguise it.. but maybe it is too much work to attempt such disguising and then to keep track.. and also maybe it is NOT his/her own money? I do the same thing when I'm staggering bids. Maybe he doesn't believe that it's neccessary to be stealthy or that his bids will actually affect people's decisions, especially with China. If China is still leading then it doesn't matter what traders think about the bids on stamp. |
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There is actually a chance for bitcoin to fail and it is not guaranteed to rally again. Just because something happens 5th times doesn't mean it happens a 6th. The 1 week chart and volume are ugly also.
Out of curiosity: when the indicators start giving positive signals again, will you get back into 'the game'? Or will you remain permabearing on these boards ^^. (No, I"m not out of touch with reality: Bitcoin can fail of course) I tend to advise trading with the trend, so when the trend is upwards, I will be trading upwards. I do not know why people assume I am a "perma bear". Is it just because I don't drink kool aid and believe bitcoin is destined to reach $10,000,000+ no matter what? |
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What I think whenever someone talks about China waking up:  |
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There is actually a chance for bitcoin to fail and it is not guaranteed to rally again. Just because something happens 5th times doesn't mean it happens a 6th. The 1 week chart and volume are ugly also.
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Warning warning, flatlining on low volume again Why? We had over 1000 on stamp the last hour and at this hour (17min) 250 coins so far? 1000 coins per hour = 24,000 coins per day = low volume. Although it's better than when were in the 600s with 8000 volume per day. |
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thats what kinda pisses me off
china has been banning bitcoin for months now, can we just get over it already....
Lets hope that western exchanges decouple from china and take the lead before (if) this becomes an issue Where are these "western" exchanges? |
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Guys, nobody would be happier if I am wrong than I would be. It's extremely likely we'll either go sideways for a long time or down. If we go down, $400 support will be tested and may or may not hold. 3600 coins mined per day on top of Chinese arbitragers constantly buying on Huobi, and selling on Stamp. There's simply too much liquidity to soak up without a strategic retreat in price.
It's a great time to buy if you don't mind waiting months or years to see a significant profit, but a rocket ride up past $500 before April 15 is delusional, unless there's possibly a spike that immediately crashes back down. Bitfinex walls keep moving, but the Bitstamp wall is staying solid and immovable at $400.
I know opinions change and this isn't a low blow particularly but you really must be taking your forced liquidation badly. Two days ago it was choo choo and now your saying that anyone buying coins here would have to wait years for a profit. What's changed in a day or so? I wasn't force liquidated although I might have been close by now if I had held. I saved thousands by wimping out at $478. Cutting your losses when the market turns against you is an essential part of trading. Just reading this forum, it is obvious that all of the weak hands have not been shaken out. Most people here don't really know anything about trading. All they know is that, they think, they have to buy in at some point before the next rally which is supposedly guaranteed to occur every 9 months, and that it's impossible for them to lose because bitcoin is majestic and infallable and will uptrend forever. |
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Market already reacted to these news in a positive way hours ago
+1 it's almost 9pm in China  No it was reaction to 1 hour MACD. So why is the time identical ? 6pm in China It's a coin cidence >_> I was watching that macd inch it's way up all day at a constant speed until finally it crossed. |
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Market already reacted to these news in a positive way hours ago
+1 it's almost 9pm in China No it was reaction to 1 hour MACD. |
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