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This dip right before a bank holiday in Europe with no fresh fiat means the next four days could get ugly. Might have to put my temporary bear hat on.
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I'm surprised how slowly the price is falling. Looks like the bad news had been priced in to some degree.
Its because its not that bad or different to anything else... |
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Mid 400's is fine with me.
Didnt they already announce the closure of their accounts by the 18th thus this is expected?
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Well it is Fear Uncertainty and Doubt ... news causing FUD doesnt have to be fake.
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Why should 470 hold?
Because bulls needs faith its only a retracement, and not a big bull trap.. BTW 200,000 coins back in the market in 2014, thank you Mt Gox for the coming cheap coins.. How do you know those coins will be sold into the market and not to private buyers? I bet theres a fair few interested parties for off exchange coins if Risto sources his coins offline. Cant see big investors wiring money to Stamp. |
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Wish I could trust BTC-e to hold a few coins more, they always go deeper into the swings meaning more money to be made.
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So everyone moans and says we've gone up to fast and then moans when it corrects?
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Huobi caring way less than the western exchanges, no suprise there.
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So its just OKcoin having another account suspended ?
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Could someone just buy 1000 Bitcoin please and end this bullshit
1000 would only raise the price by like $20 |
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Huobi dumping harder now as well.
$500 wall guy adding to it too.
EDIT: wall munched.
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very natural, loads of support @500. was hoping for 485 but I dont think Ill get it. the volume traded at 500 just there has plenty to to back it up.
Lots of support but I think it could disapear for a brief trip into the $400's |
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Its just some healthy profit taking in my opinion, the bids arent drying up so plenty of buyers .
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900 wall straight in at $500
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Hmm, I get opposite impression - very similar price pattern, but even lower volume than in March.
eh? Are you looking at the same chart? In the last box shown on the chart we have seen most days at 7k+ Look back at March and there was a couple of high volume days then the volume was almost non existent for a week or so and then that whale day spiked the price. Much higher and much more consistent volume over the last week or so. |
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I bet a lot of people opened shorts as well expecting a bigger retrace. They will quickly jump back in once/if the rally starts.
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 I was wrong about the 3220 wall, it was broken with more bullish sentiment than expected. But the chart I posted yesterday is still following the same pattern, just at a slightly higher price than expected. we are in a very similar situation to march 4th / 5th at the moment, and the markets are behaving almost exactly the same. Not many interested in buying in this uncertain climate, so the best guess I can form is, the same as what happened in march. I think we will settle at around 490 and go sideways again... until the volume goes very low. All this can change, based on (valid) news or well executed FUD. (possessive or negative). A simplistic way of looking at the market, yet quite often effective. History repeats itself imho. I agree that the charts look similar but from what I can remember the sentiment from then is different to it was now. There was much more unceratinty hanging in the air in March with Gox just closing, also when that rise took place over the space of a few hours it felt very fake with the constant few walls pushing the price up. The rise over the last couple of days does feel different and not orchestrated by a whale or two so much. Just a feeling. |
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I think the longer we stay without really going below $500 the more bullish it becomes, could cement $500 as a base if there is another quick move up.
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Most of the articles are things we already know about.
April 10 - "Bitcoin is not banned in China" - We already knew that.
April 16 - "Huobi's bank account being closed" - We knew that too.
Yet somehow people's sentiments change every time because they were operating under some flawed logic.
Didnt Baidu stop accepting Bitcoin to launch their own payment system? I thought that happened months ago also. Ignore the troll it did happen months ago. Early december http://www.bloomberg.com/news/2013-12-07/baidu-stops-accepting-bitcoins-after-china-ban.html |
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Today's High: $543.32
Reached $544.999 in BTC-E, before someone dumped 4,000+ coins in a few minutes. Still not much affected, as the prices are staying above $500. Really, someone sold 4000 coins at 544? You'd think someone with that many coins would know that 544 is definitely not the highest price we'll see this month. Right and they could have bought them all back just over $500 and made $160,000 not bad for a days work. |
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