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Cue one hastily-removed sell order above that channel! I might miss a swing trade but I've been burnt not holding in a rally before.
Let's see where this one goes, hell even if we move that channel up a few dollars...
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A quick trip to reddit.
Most people think the price stabilized.
They are in for a surprise...
Most of the twats on Reddit are in for a surprise when they leave school. |
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It's interesting that news isn't affecting the price much anymore. I mean just today, http://www.gyft.com is pretty huge news. I can go to almost every retail store I normally shop at in the U.S, and pay with bitcoins through them. Fundamentals are improving as fast as ever, regardless of what the price is doing. Now we just need some of these new exchanges to be successful. Not affecting it immediately and clearly perhaps but you can be sure it does affect it. As dull as it is, we need a period of nothing, calm, stability, no panics. If we manage that for a week or so we can skip the whole slow demise we saw in 2011. |
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If the guys making the charts could actually predict the market movements, they'd be rich and they wouldn't be on here making charts trying to convince people. People make charts to convince themselves, and if people agree that's all the better.
Ah diddums. Did we lose some money? In what parallel universe do you live where rich people don't want to get richer? |
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Oi. You. Yeah you! Wake up - fingertips over the 12 hour channel  |
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Apologies for the paraphrasing, but:
"It says here that a bolt of lightning is going to strike the clock tower at precisely 10:04 p.m. next Friday night! If... If we could somehow harness this lightning... channel it into the flux capacitor... it just might work. Next Friday night, we're sending you back to the future!"
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your charts have too many lines. labels? explanation? you should only draw indicators that are important to your analysis.
Seconded. LOL then how you deal whit something like this I don't. It's not necessary Most indicators are derivative of a few, fairly simple competing or compounding movements anyway. It's about ignoring what's irrelevant for the decision you need to make right now. Simplify? |
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Well, Bitcoin had a good run. Ultimately, big government stands in the way of self-governance and that comes in the form of regulating ingenuity to death. The majority of people are indoctrinated and cannot see the value in this evolved payment system.
Who can disagree? Bitcoin is fucked.
You disappoint me. Noob account, doom and gloom post subject but you failed on point 3: all caps. Try again. |
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Yes it certainly has dropped off but the fact the price is settling just about in 3 figures is broadly positive as I see it.
A slow fall from here on in would not spell disaster but would certainly expedite the next wave of speculation.
Take a look at the big picture, here on the all-time weekly chart (close prices, log scale).
(snip)
A few things to note about 2013 with 2011: the run-up was less steep, the sell-off was less intense, and we've settled into a mid-term price quicker at a point relatively higher.
Thank you for the chart, and for sharing your opinion. Personally, I think your spot on the money. I cant help but be excited by the prospects of btc. Might just keep growing and change the world. I think btc have become my hoby You're welcome, it's certainly stolen a lot of my time but it's been profitable and fun! Congrats on owning your first share of the pie |
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I have a sure-fire way to make money day-trading. I go onto a public Internet forum and ask other people for their strategies, because if it works really well I'm sure they'll give the knowledge away for free! The other thing I like to do is when I'm about to put millions of dollars into a stock or Bitcoins, I tell everyone that in a few hours I'm going to spend millions of dollars to drive up stock XYZ (or BTC), and then I wait for everyone else to buy first so that I can buy at a higher price. Then, just before I sell, I do the same thing so that I can make sure to redistribute the wealth. In other words, I'm pretty sure that 99% of the people on the speculation forum are like me: no clue whatsoever as to what we're doing. We guess, we lose money, sometimes we get lucky and make money and then pat ourselves on the back. And most of us are long Bitcoin, so the only time people are saying the price is going to crash is when they've sold (shorted) and want to buy in lower. Welcome to the Internet! All the bad free advice you could want -- unless someone is making money off of advertising, in which case they have a reason to try to be useful. Or if they're egotistical and want to show others how smart they are. Good luck spotting the difference!  Have you read any Nicholas Nassim Taleb? If not, do so, seems like you'd enjoy it! And despite personal evidence to the contrary I agree with him quite a lot But seriously, I gave up on luck a long time ago. |
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Next spike may be a long time coming.
Quoted for posterity  Fair enough Shall I define that as a 100% spike in say a month? And say late summer? I'm digging myself deeper aren't I? I'll continue to be vague. Worked well for Nostradamus  Rampion: yes with regards to BTC volume it's WAY down but I personally think it's more relevant to look as currency volume now that there are a lot of new hands on board. |
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Yes it certainly has dropped off but the fact the price is settling just about in 3 figures is broadly positive as I see it. A slow fall from here on in would not spell disaster but would certainly expedite the next wave of speculation. Take a look at the big picture, here on the all-time weekly chart (close prices, log scale).  A few things to note about 2013 with 2011: the run-up was less steep, the sell-off was less intense, and we've settled into a mid-term price quicker at a point relatively higher. |
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I'd hesitantly offer that we are in the region of BTC's true value. And it just about has 3 figures.
Let's build a base for some long, slow but steady growth through the summer.
Next spike may be a long time coming.
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Didn't check the data, but I'm the only one feeling this is the Wednesday with lowest volume in 2013? We had many weekends with more volume than this.
Update: And the results are in:  6th highest US dollar volume for a Wednesday but only just tops the first couple of Wednesdays in the 5% daily rush we had. Oh and sorry if I'm getting in the way of the action here zzzz.... |
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Hey, why did GBP get buried? It might not be traded much but they are some of us who at least like to keep an eye on it You did it. Thanks! |
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Dunno. Anyone ever tried to smoke a Satoshi?
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I saw the list of friendly/unfriendly banks. Can someone explain how they are unfriendly to individuals? I haven't bought or traded BTC so I don't really know the process. Are some of the sites where you trade BTC blacklisted?
What are you guys using for BTC trading? Bank transfers, wires? I only ever used a credit card or paypal on online purchase.
Thanks
You know you might get a reply if you ask this very question in that thread! Look at blockchain.info - see which currencies (y) you can buy BTC in! I bought in GBP through them before they stopped it. |
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I was in the Dow-Jones building in London yesterday meeting a friend for lunch. She asked what Bitcoin was and I told her to read the WSJ which her company publishes!
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How often do you buy/sell?
There is no regularity, the time has to be right AND I have the time or state of mind to fully commit until the round trip is done. Do you use one sized chunks (e.g. 100 BTC) or various sizes? How you decide on the amount?
I generally go with as much as I have in my trading account. For how long do you wait before admitting bad decision and buying/selling back with loss?
Only when the market is clearly heading in the opposite direction and I want to minimise that loss. Are you using market orders?
No, never. Do you use API (bot/script) or web interface?
No, never. Do you use stop-loss orders?
No, never. What's your % gain since the 266 crash?
That would be telling. I'm happy |
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What does it say when everyone already thinks that it's going to go up?
sorry to dig out an old post, but this is interesting... People tend to make themselves believe it's going to go "their way" (wishful thinking). So this might mean that many have bought and are now waiting (predicting) and upward move. If many have bought already, not many more can buy, but many can sell.... go figure. Of course, I have yesterday and today sold a little bit, so this post itself might well be wishful thinking eh..nice remark. perhaps i should stop reading about technical analysis and start with crowd psychology. It's difficult to trade with one alone |
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