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Im more optimistic but Im waiting until the exchanges actually lose their bank accounts and the 15th-18th passes nothings really changed in the last few days other than breaking the previous lows. This could easily be retested on any China FUD
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Back down to super low volume. Are we thinking consolidation and up or are we just waiting for the next bit of news.
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Indeed, some exchanges truncate their order book (BTC-E for example).
But the bid/ask sums may not be that meaningless, their scope is just limited to the provided range of orders.
Eventually, accuracy of this metric depends on the distribution of orders in the book.
Perhaps one needs some indicator of order depth that is less sensitive to truncation? E.g., weighted total sum of order size (BTC), where the weight decays exponentially with the difference between order price and current price? With such a formula, one could compute relatively tight upper and lower bounds for the indicator, even from a truncated order book. Its a good idea and one that I've thought of before, its not something I have the time or maybe even the skills for but Im sure there are people who could do this, in fact Im sure some probably already have. |
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Noobs be high as fuck reading the whole wikipedia entry on dinosaurs wondering how it relates to trading patterns.
Just wait till one quotes it  |
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Morning, most peaceful nights sleep in a week or so. Heads a bit sore though As I expected and Tera also alluded to as well the volume drop off coupled with the fact that nothings really changed until we see what really happens when deposits stop and the fact its a weekend leads me to be fairly confident of my short term short from $43X with a target just above $400 ish. Its just a hedge against my main stash and I'd much rather see us going on a mad bull run and breaking all the technicals  Even better would be some nice consolidation in this area only a small drop maybe due to the fact something is guaranteed to happen with China in the next few days before the real lift off. |
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Must confess I wish I bought and kept some coins from yesterday I own a time machine and I will take you back to one time frame. 24 hours it is.....Although, you could have gone back to feb 11 2009  Better yet, go back to 2008, try to get in touch with Satoshi (all the while being ready to start mining the shit out of bitcoin as soon it is released), only to realize after some unsuccesfull attempts.... YOU are Satoshi ! You know, the funny thing is that if people could time travel, I am sure we would all copy the code and go back to like 2008 or 2007 or something and just become satoshi Nah I wouldn't wanna be him just look at what happened to Dorian on the inkling that he was Satoshi. Much rather be someone like Hal who was just there very early. Just as wealthy without the world looking for you. |
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That's because there wasn't an end to the China FUD clearly its still going... Can you answer yes to those two questions and no to the third?
What is your prediction then of the effect that Houbi OKCoin etc actually being unable to be deposited to? Im not saying this is going to happen but Jay asked is it possible we wont see below $400 again.
Honestly i have no clue, market could certainly go full retard dump mode, thats true. I think as long as the China holds powers to control the market they will abuse it to the maximum potential, its too tempting too pass up. Exactly, at least a week till we see the actual effects rather than what the market thinks will be the effect. A week more of Chinese ass raping is a long time and a lot of price movement in Bitcoin land. |
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I've been buying all along, and my latest buying point was around $390. I did NOT go all in at that point b/c I was anticipating that we would get another price drop on saturday or at least sometime between then and early sunday.. then, thereafter, the BTC prices would be heading upwards.
However, if we are heading upwards today, or this is a prolonged upward bull trap, then the saturday price drop may only bring us back to today's prices. It is so difficult to predict exactly if NOW is a good time to buy, or to wait a little. It is possible that we will NOT see below $400 anymore?
Ask yourself, is the China FUD over? Has anything changed from yesterday in regards to what we know? Is it likely that at some point either before or on the 18th there will be some news that sends us straight back into sub $400 territory even if only briefly. Discard the PBoC statement regarding them not banning bitcoin, everyone knew that anyway and certainly the people with the coin or cash to move the market definitely knew that. I dont think this is a very solid approach, if i remember the december china crash correctly, the reversal wasnt based on some "positive news that puts an end to the china fud", its just kinda happened. I doubt we will see the proper "green light" this time either. That's because there wasn't an end to the China FUD clearly its still going... Can you answer yes to those two questions and no to the third? What is your prediction then of the effect on the market that Houbi OKCoin etc actually being unable to be deposited to? Or are we now of the belief that China doesn't matter anymore? Im not saying this is going to happen but Jay asked is it possible we wont see below $400 again. |
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Who here has money in case there is a weekend dip or a retest of $340?? BTC may go to the moon from here and if so, awesome. I'll cash out my trading stash and reload from cold storage. But what if there's another dump? You have to be flexible in case the unexpected happens.
If you want to make money day trading and help the Bitcoin economy at the same time, you don't buy at the top of a 20% rally. Missing the train isn't any more of a risk at this point than missing the next dump. I usually consider Friday to be "idiot with a paycheck day" and do the opposite of what everybody else is doing. I'm looking for an opportunity to partially buy back in and this certainly isn't it.
A push back from $340 is a very good long term sign, but that doesn't mean there isn't $4K coins in sell orders to get us back to where we were two days ago.
Precisely, I actually agree with you for the first time in a week or so I've adjusted my position accordingly and can see it go up another couple hundred dollars till I have to buy back evens on the coins I sold. Thanks go to MagicMexican for convincing me to hold off on my sell order for another $30/BTC extra this morning |
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I've been buying all along, and my latest buying point was around $390. I did NOT go all in at that point b/c I was anticipating that we would get another price drop on saturday or at least sometime between then and early sunday.. then, thereafter, the BTC prices would be heading upwards.
However, if we are heading upwards today, or this is a prolonged upward bull trap, then the saturday price drop may only bring us back to today's prices. It is so difficult to predict exactly if NOW is a good time to buy, or to wait a little. It is possible that we will NOT see below $400 anymore?
Ask yourself, is the China FUD over? Has anything changed from yesterday in regards to what we know? Is it likely that at some point either before or on the 18th there will be some news that sends us straight back into sub $400 territory even if only briefly. Discard the PBoC statement regarding them not banning bitcoin, everyone knew that anyway and certainly the people with the coin or cash to move the market definitely knew that. |
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I dont like when people try to ridicule "buy and hold" approach, nothing wrong with buying btc as longterm investment.
Long term investment is a sensible choice, if the odds are favorable. For company stocks, it is even the "right" strategy. But cutting losses and short-term trading are sensible choices too, in other conditions. So why is it forbidden to express negative opinions that imply "don't buy" or "sell"? When "FUD" means "Facts and Unambiguous Data", any fear, uncertainty, and doubts that may result are good things. C'mon Jorge FUD means fear, uncertainty and doubt. Where have you ever seen it refered to as such in a market situation... |
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Lol so a post from someone on a forum... No offence they could be completely right but you've been here long enough to know you dont make decisions based on someone on a forums postings. Thats rule #1 |
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on the shadow of the latest PBOC released a statement about not banning Bitcoin, There is someone who claims that he have some friends who are in the industry and work with a couple major Chinese Conglomerates, he stated They have all said (his friends) that the Chinese Government employees are loading up on BTC behind the scenes, and working on regulation, meanwhile others are dumping....
Who is this someone ? |
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Quick TA update: - 6H candle color/volume: BREAKING - huge green candle beats the previous reds (highest 6h volume in 30 days), conclusion: this is a clear sign of a reversal - Bid/ask strengh at market: slippage to sell 5k: $57, slippage to buy: $63, conclusion: volatility continues - Trendline comparison: we are now at -0.367 log units. The trendline is at $993 and rising $7 per day, conclusion: rock bottom - Sentiment: getting better, which in this case is a positive thing - Prognosis: anything can really happen, (see my musings in other posts). I did buy, despite being heavy in BTC already. While I am generally positive how do you perceive the next 4-7 days where we will no doubt be subject to more news from China and in all likely hood have a mass migration of BTC from China. Its silly to say that the news is priced in or that yesterday was the worst of it as we can learn from the Gox situation that speculators will speculate until they cant speculate any more...? |
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What's strange to me is that there's really no news here. We already knew China wasn't outright banning BTC...yet.
Yea and bitcoin isn't a very attractive investment if the price isn't constantly rising. Won't happen with the ban on deposits. China has effectively banned bitcoin without banning bitcoin. Lets just see how many coins the Chinese actually have when the deposits stop. Just because you cant deposit YEN into your account doesnt mean that you don't want BTC at all. |
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I guess the $102 guy was a retard after all !
He was a retard either way even if we were sitting at $10 he could have got $1000's more for his coins. |
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By the way, where is that guy who pushed in $50k at MTGox just before it got burned?
Hasnt been on since he came and said how much he lost... so sad |
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There will be a delay between the time when the coins bought on Huobi will be sold on BTC-E again. There will be a lot of chaos and drama until this process is over.
What are you on about, with $0 spread and the fact the price has moved past where you could have bought Huobi coins, just be quiet if you're gonna spout dribble. No thank you, I have told countless times that I won't buy into the rises that are only fueled by the desperation and denial of the fools  Too unstable and unpredictable to be an good gamble. Anyway, it'll be fun to see the drama when the wave breaks. When people are genuinely surprised again on why is this happening. That has nothing to do with your assertion that coins are being bought on Huobi and sent to BTC-e. You do realise the Chinese can withdraw their FIAT still so why would they want USD sitting in an overseas exchange. Thats cool don't buy into the rises but you just missed out on a 20% rise whether it goes back down again or not. In fact it should be an even easier sell for you as your so sure we're doomed. By being a perma bear you missed this train . |
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726 market buy mmmmmm
Edit: closer to 1000BTC
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