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your autistic friend better be right or Im gonna smash him! lol jk
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Tonight Huobi is moving the market and is key to the next move/fall.
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We'll be trading sideways for sometime and maybe a slight dip in there, somewhere. I see us ramp up June or July and we'll play this cycle all over again. The same old trolls will come out again and say bitcoin is dead and we'll do this dance again.  +1 but where will the dip be ?? thats the last trade we will have to make for the next 6 months. |
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I hate to think that we could sit at around 630 for about a month, and false break-outs either side eating away at your funds. nope. no more trading for me.
You might appreciate this chart then:  Thanks for the chart. very true. On a smaller scale though, I dont know what to think. Huobi is threatening fresh lows today, but BTCe and Bitstamp are looking quite bullish. that why Im stepping back. I think all eyes on Huobi tonight, it may pave the way into the 500s. If not, Im not going to assume anything. |
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I am a day trader. I prefer to only trade larger scale trends and high risk investments with strong fundamental drive. I consider a measure of sentiment the sole most important edge to my trading.
I bought at $120, purely speculative, held, and sold at 750 after the AHT, bought at 450 - 500, and I am day trading the volatility now. soon I will return to hibernation as a long term trader and wait for the moon.
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I hate to think that we could sit at around 630 for about a month, and false break-outs either side eating away at your funds. nope. no more trading for me.
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got out of my shorts this morning at 627. the support has lasted too long.... and now the bulls are testing.
I still have a small portion of my long open from 3/10 that didn't stop out. I'm trying to close it in the 650s if I can. The last breach of 660 looked primed for takeoff; it was a false breakout and we declined. This will be the third attempt at cracking this resistance if we can get there. There were some short term bullish divergences after we broke down through 630, but I see a lot of resistance here, and won't be chasing price.  BFX longs are also at > 3:1 to shorts currently (based on price of 640), with ~ 16 million USD swapped, which is always good to keep in mind if we fail to breach this upside resistance. I am thinking mid-term (1-2 months) bullish but I think we see some downside movement first. This move from 400 has not been characteristic of an impulsive one that would indicate to me the start of a new up trend. But the February down trend was much more predictable, so while I was fully leveraged short on several occasions then, I will not be now. Light and tight -- if at all. We are near the end of this bear market I think, but with sentiment so uber bullish (I don't know what rpietila was talking about with that one) despite a very congested and stagnated move upwards, I don't think we have seen the end of it. I also think we haven't seen the end of it, we should test 550 again, but the chart is behaving strange to me. Every trade I took before the 400 low came at my command, but now the market is just wondering around and is not responding very accurately. Im not prepared to sit out a strategy so robust as yours, I want a quick trade to reduce exchange risk and sovereign risk. I was lucky to get back on the train at 560 a few weeks ago, and it went straight to 690. Im not a news trader but BTC is vulnerable to good news at the moment such as the opening of exchanges in America. Im just gonna hold some LTC until the 19th and hope those chines shell out for a few. |
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got out of my shorts this morning at 627. the support has lasted too long.... and now the bulls are testing.
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with no more major bad news, I have a hard time seeing BTC go much below 600 in the near future.
News doesnt move the market, speculators do. if the news was the be all and end all, it would all make sense and you would be rich, but this is a game of strategy. there are players ahead of you, and you will see the price fall now even if there is good news. |
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IMO, something like this still possible-- Bounces aside, I'm looking for a downside target that overshoots the 50% retracement (710->400). Hopefully find entry near 539-557. This would keep us outside of February's down channel. But if it does play out anything like this, it means we aren't out of the woods yet, and a strong snap back from the 610 level (or below) could indicate a return to sub-500s.   MAbtc, always I like your charts... |
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I have heard that some whales are moving from bitcoin to litecoin because they are afraid that the stolen coins from Mt.Gox will be sold.
better then to have to some fiat as well, to buy the back nice and cheap. |
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Bitstamp and Huobi have clearly terminated a three wave a,b,c upwards, and BTCe is breaking down out of an a,b,c wedge. no sign of bulls, Imma cash out a bit for good luck. Wave C should take us down to 560 maybe less in the coming days, hopefully, though I wish the holders best of luck and peace of mind  |
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No harm in cashing a few out, it's not going anywhere in a hurry.
setting buys at $550?
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we hit the bottom at 400. the following wave has never taken more than 6 months to take of to new ATH's and the moon. we will see $1000 BTC and $10000 BTC in the same year - this year.
Would YOU like to make a bet? I'll betcha my entire stash that Bitcoin stays below $10,000 Bitstamp for the rest of 2014. hmm no Ill pass thanks, cos 10,000 is actually a very strong resistance. what about 7k? id make a small bet. but it would hurt you more than me to fork over bitcoin at that price! |
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we hit the bottom at 400. the following wave has never taken more than 6 months to take of to new ATH's and the moon. we will see $1000 BTC and $10000 BTC in the same year - this year.
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Unless you can explain your speculation with some formula, it's all bs.
My simple speculation of gut feeling is about $2000/BTC around Dec 2016.
the market cannot be explained by a formula, because people are irrational. all one needs is a measure of sentiment, basic fundamental knowledge, and chart reading for entry and exit. |
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if robots are the foundation of society, then we should all benefit equally from them.
Says who? We didn't all benefit equally from the domestication of cows. Some people are lactose intolerant. I really don't understand this obsession with equality that is unheard of in nature. It's completely subjective. Equality in outcomes or equality in opportunity? Equal rewards for effort or for productivity? The former produce what economists call "perverse incentives". http://en.wikipedia.org/wiki/Perverse_incentiveYou really should read this: http://www.tnellen.com/cybereng/harrison.htmlok, personally I dont like the word 'should' either. but you are proposing a system that must both destroy work (innovation) and create work (capitalism) at the same time. that is not an answer. either we share work and hoard money, or we share money and hoard work. they work equally. what doesnt work is when you hoard work and money - then the french revolution happens all over again and the skilled and educated lose. Technology doesn't destroy work! Displaced autoworkers become robot builders and technicians and the pool boys at the gated communities of the wealthier GM executives and stockholders! That extra margin that automakers gain by automation is spent back into the economy. That provides jobs for service industry workers, etc. Would you rather be an assembly line worker with repetitive stress injuries or a golf caddy? I honestly don't think that you've thought this through. ..... technologies sole purpose is to destroy work. I do NOT agree that technology is a sole purpose to destroy work. We should NOT necessarily be hostile to technology. One of the central problems with technology, though is that frequently it is used to distract labor from unionization and solidarity and thereby the capitalists frequently become able to use and abuse technology in such a way that they extract nearly all of the surplus for themselves and use technology to divide and conquer, workers, labor and community. In the end, workers become more and more exploited by this b/c frequently if there are NOT strong governments and/or strong unions, they are NOT allowed to reap(enjoy) the benefits of the technological innovations. People who believe in no government and/or no unions also seem to believe in trickle down economics, as if giving the money to the capitalists and the rich, that some how, miraculously, that money will trickle down to the people and somehow suggesting that the capitalists deserve to take all the surplus value.. so they can be rainmakers. Frequently, however, we have seen that trickle down does NOT work and there are failures to invest in infrastructure, and running away with the capital and even capitalists who engage in behavior to accumulate much more capital than they need or want... and the situation with these filthy rich is NO longer about the accumulation of capital but a form of keeping the capital away from the masses b/c they want to control and exploit the masses and they want to insist that capital is NOT distributed to regular people... b/c of desires to keep an exploitable group willing to work for anything.. Billy, look it up in the dictionary, that is the definition of technology. technology makes things easier, it saves us work. But I am not at all hostile to technology or innovation, I think they are both brilliant and absolutely necessary. There no good reason why someone should be doing a job that a machine can do better. we should all celebrate that our jobs have been taken from us by robots and machines. but when there are fewer and fewer jobs, why should this entail that the unemployed should suffer? we should recieve credit from the machines that displace us. |
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Im from South Africa, I know if try and tell a guy on the street that, he will kill you take your every belonging to buy food and survive another day. there is no money there, there is no work, they are all slaves to capitalism. and I love those people, they are good people.
and killing and stealing is another free market system that really works.....
Brilliant point. Very reality based. Not really. Market, by definition, is based on voluntary exchange. If you broad it's definition to include involuntary exchanges, it will include all human activity and therefore will lose any useful meaning. What you can say about "thing" if everything is a "thing"? I meant the first part, about the lovable guy who will kill you as necessary to survive. I resemble that remark. The other part I just write off as rhetoric. dont be obsurd. killing is a part of our nature, so is love. you have it in you, but your character has never been tested so much. |
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actually it was capitalism before Mandela, in a democracy where black people couldnt vote.
you see, capitalism is vulnerable to psychopathic traits, it's not a strawman argument.
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Im from South Africa, I know if try and tell a guy on the street that, he will kill you take your every belonging to buy food and survive another day. there is no money there, there is no work, they are all slaves to capitalism. and I love those people, they are good people.
and killing and stealing is another free market system that really works.....
Killing and stealing only works until the productive people stop producing, and then everybody starves. The productive people started leaving South Africa in droves when the anti-capitalist Nelson Mendela took over. There's no place on earth with more natural resources per acre than South Africa. If people are starving there, then it's because the government killers and thieves created an environment hostile to peaceful trade. of coarse Nelson Mandela was anti capitalistic, look how it ruined the country. 'The roads of the british empire are paved with the gold from Africa.' "all the productive people" includes only rich white boys such as myself. I cant say that I was nearly as productive as those people on the street who have to break any number of laws and endure terrible fighting to gather those natural resources. they wouldn't call it capitalism them selves. The reason why SA is very unproductive is because when the capitalists in America (that own most of the mining shares) hear complaints about wages in the coal and gold mines, they dont mind if the workers get shot when they protest. and that is the biggest export of SA. those miners earn something like $1 per hour, and the mining debree is killing them. |
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