|
Lucif,
So, the symmetrical triangle breaks down in 1.5 or so weeks? Well, the problem with this type of forecasting, is that we are living in a world where currencies are collapsing, wars are in the wings, gold is being suppressed (paper naked shorts, "leasing" of reserves by Bullion banks,etc. ), and just a lot of uncertainty in general.
Now, I'm not saying you are wrong. But, the reason BTC is even where it is at is because of the global uncertainty. And yes, I use TA as well, but if we put too much reliance on it, then when news hits, BOOM - one way or the other. If another Cypress like event happens (and it will, just a matter of time, weeks, maybe months) then the price of BTC will break through past highs (which was probably driven by Cypress in large part).
Again, I'm not knocking the chart analysis, but just want to point out that anything longer than extremely short term predictions in this market is risky.
I almost feel like we need to have a strong hold of BTC that we just don't touch and then another "flexible hold" that we can try to trade with, with the intention of increasing.
But, I will keep an eye on that triangle! Thx,
IAS
|
|
|
|
That's a good point about the frequency issue. Without counting, .10 donations are probably the single largest number, with .01 and .02 being close seconds. Maybe that should be the ask - .1 per month (8 shows) - I'm really curious to see how the donation thing develops - looks very promising. I really think the Bitcoin ID concept is a huge deal, I've started helping organize the open source project along with Joe - We're going to use the Let's Talk Bitcoin! forum as a proof-of-concept and then roll it into a few very important projects within the bitcoin decision-making world. If you know any User Interface/User Experience guys please send them my way. Enjoyed the show. A comment about the donations issue. I expect that many people like me will think "I'd like to donate. But I don't want to do it every week" so that's why people are donating in the .1-1BTC range rather than the 0.01 x hundreds of people version you were hoping for. Like, for myself, I donated 0.1 thinking of it as ~$15 USD and thinking "that's my contribution for the next month or two, let's see how this goes". And then if I think you're providing me a really valuable service and I enjoy the show, I can do the same again later. Of course, once automated payment systems are up and running, that would be a great option for micropayments  Comment on the content: the ID-tied-to-BTC-address concept is excellent. There seems to be a connection with the Namecoin concept and what Julian Assange was saying to Eric Schmidt in that transcript. Your concerns about tying monetary value to speech are valid, and I am worried about that too, but I believe/hope they will be addressed by the free market. That is to say, just as now people can interact via facebook if they want to, or on an open forum with anonymous login if they want to, so in the future fora will form based on BTC identities for those who see value in that (avoidance of spam and fraud or anything else), and other fora will form with other user groups in mind. There is no need to try and regulate anything away. At a deeper level, I think the "ID in BTC" concept, like the "smart property" concept has great philosophical significance for the way society develops from here. I have an idea in my mind based around reification, Platonic ideals and entropy but that's for another time... Enjoying the shows Adam. I tend to agree with "waxing". I donated .1 as a "subscription" of sorts. I listen to maybe 5 - 10 podcasts fairly regularly and donating $15X(5-10) a month is just too steep for me (and probably many of us). But, I guess it is supply and demand. Also, we will have to see where BTC goes to and stabilizes at ( a long ways away...) I think we all appreciate the show and what is more alarming to me is that so few people donate at all. As you said on the show it would be nice to see more .01 donations and less larger donations, as the few shouldn't carry the many. Then again, it is a "free" show, so we'll have to see where things settle down to. If you have over a 1000 listeners, donations and supporting the show shouldn't be a problem. Looking forward to listening to #4. Thx again, IAS |
|
|
|
I agree, BTC can do nothing but help to destroy Paypal. The CEO said it could be a funding mechanism for Paypal??? Is it really a problem to fun Paypal accounts?
You are confusing something. Bitcoin may destroy the current business model of PP. But why PP itself? I think Bitcoin is a dream come true for hedge funds, investment banks, and yes, payment processors. After reading this article: http://www.forbes.com/sites/jonmatonis/2013/05/04/bitcoin-on-the-paypal-network/ I tend to now agree with you, at least I'm a bit mixed. There were some points brought up that were obvious but I had never thought of. I strongly recommend people to have a look at the article. A key section imo (my bold): Phil Archer writing at The Genesis Block categorized the four areas of likely impact — online wallets, escrow services, merchant processing, and exchange services. PayPal account funding alone is not exactly bitcoin sitting on the PayPal payments network, so that use case is not included in the analysis. Archer concludes that PayPal’s immediate advantage would be in the first two areas with eventual game-changing impact probable in the latter two.
While I tend to agree with the category choices, the analysis overlooks what the PayPal-Bitcoin world would not be getting (or, what it would be losing).
Firstly for the consumers, the new PayPal paradigm would look like a Coinbase on steroids with massive connectivity into your bank accounts and even more intrusive data collection. As a fully-regulated money services business (MSB) and licensed money transmitter, PayPal would be the undisputed gorilla in the U.S. marketplace with online wallets and fast exchange services. Of course, escrow services would be welcomed because this model is almost always needed in a free market and banks could look to provide this functionality as well. It is not all rosy, but Paypal might help to direct more funds and eyes towards BTC. |
|
|
|
I didn't notice that part you quoted but it stood out to me in the argument. WOW!!! This is so huge it makes Cypress seem, like well, Cypress.  I wonder why the Government would be behind it and my first reaction/feeling is that they are probably sick and tired of the USD and the bond issue that comes with it. In a way, other governments embracing BTC (and other crypto-currencies) is a way of combating American Hegemony. Think about that... China is sort of like another MtGox volume influence, maybe at the least. Have to ponder this one, oh my... I am pretty leery now of selling based on just TA in light of this news. You never know what will happen... Thanks for posting that reddit link, I will have to read the thread there. IAS |
|
|
|
That is a bit scary. It had to be that 30 minute CCTV spot. Now, a few of those people are probably going to be buying BTC's in the near future. In a way, it could be like the Cypress event, in that sudden buying pressure may come... Great news, IAS |
|
|
|
Looks like resistance at 110 - 115 is waning. Time for 120?
I think the wall at 120 and the strong previous support - now resistance at 121 prevent any crossing of this line for now. A retracement to 105-6 is in order when the assault to 120 fails. This would be my original prediction from several hours ago. True, there is resistance at 120-124 (that big volume hammer on the downside) but we broke through it on the rally or bounce out. I think that makes that resistance weaker, no? |
|
|
|
|
You guys that are into focusing on "the Wall" - can someone give some input about this area please?
The way I see it is that you are looking for a "wall" of buyers or sellers at a certain price. Both to see price direction but also to look for manipulation of the market? Is that right?
Are you observing this wall as individual (and not grouped by $5) prices or is it the grouped version? Details please,
Thanks,
IAS
|
|
|
|
|
The volume numbers for today (It is Saturday, isn't it?!) are looking VERY VERY good.
The buy numbers for $70 are up solid and the sell numbers for $300 are dropping hard (currently at 155k).
The sell price on 100k volume is rising very well to $195. This is GREAT imo.
Things are looking great. I'm short term Bull now but will keep an eye on things.
Thanks bitcoinchannel.com guy for your education!
Its About Sharing
|
|
|
|
|
Things are looking better. Viewing Clarkmoody's Market Depth the overall sells are decreasing and the value of the $300 sales rising. The overall volume numbers on the buy and sell side are promising again. (Bids are rising at $70 and sells are dropping at $300. I am following the bicoinchannel.com's "method" of looking into market depth and thus far has been an EXCELLENT indicator, at least short term.
|
|
|
|
Donator to your Channel. Great great videos! I'm an ex trader but have still learned a bit from your "market" talk. Would love to see periodic updates here in the thread. Please? Its About Sharing... |
|
|
|
|
I agree, BTC can do nothing but help to destroy Paypal. The CEO said it could be a funding mechanism for Paypal??? Is it really a problem to fun Paypal accounts?
The only problem I see is funding BTC accounts and that is being worked on. Paypal's fee's are just too high to be a longterm funding mechanism for BTC accounts.
Now, maybe they try to alter their business model to adapt to BTC's for a bit of business is better than going out of business. Anything is possible, but I say the CEO was talking out his...
|
|
|
|
|
It is interesting to see larger orders going through as we approach 120. I guess quite a few people want to pick them up cheaper down low.
|
|
|
|
Looks like the $120 wall is shrinking pretty rapidly. It was 2.5M when I checked around an hour ago. Now it's at 1.25M...
What are you using to get this please? |
|
|
|
|
It might just take the next Cypress. But I don't think it will matter. We are still in the Black Swan phase here, the public is mostly in the black.
More VC's are directing money into it. It is just a matter of time right now.
IAS
|
|
|
|
Break downwards, looks like $120 will be tested soon.  Big sell just smashed through $125. Part of the bid wall @ $120 was removed.  Can someone tell me where to get this chart? Also, is it essentially the same as the MtGox Live? Thx, IAS |
|
|
|
|
arepo - I see your point with the triangles, but I don't understand how you can't take volume into play?
|
|
|
|
I enjoy following the bitcoinchannel.com buy. I can read candlesticks fairly well but was never much into looking at the market strength (buys and sells) as a whole - I know, bad, partial picture but the candlesticks and a few indicators always did me well. Anyway, looking at the market on clarkmoody's site: Looking for that 100k volume on the buy and sell side - It just moved off $70 on the buy to $65 (a bit bearish). The sell side is on $220 at 100k - keep an eye on that. Total sales have been creeping up since post crash (I don't have the exact dates as have been following it only a couple of times a week.) Some key figures on the buy and sell side ($70 buy and $300 sell) show that more sellers are coming in at those levels and the buyers are dropping. It is not a huge number so I tend to agree with the bitcoinchannel.com guy that short term things look bearish. Nothing that would make me sell my long term stash. Can anyone add anything here as it's the part I'm still learning...  IAS |
|
|
|
|
The sell orders on clarkmoody are still creeping up. The buys are still creeping down. I am holding my base BTC's and sold some bought at higher levels as I don't want to take a chance should we retest the 50-70 range. I am hoping we do go back down there so I can double up what I sold off. If not, live and learn...
IAS
|
|
|
|
we are consolidating very bullishly, and are nearing an upwards breakout: -===- *10-day 1-hour scale*  -===- notes: (1) price following strong (3-pt) moving support (2) Accumulation/Distribution confirms this trend (3) CCI also confirms this trend (4) Bullish midline crossover in the Stochastic RSI (5) Bullish midline bounce in the Slow Stochastic Osc. here's some direct price analysis: -===-  -===- top marked by high volume, consolidation marked by low volume, anticipating a spike in volume with the upwards breakout to confirm "trend continuation". --arepo I tend to agree with you that we are nearing a breakout. Judging by past activity, I've seen too many of these upward and steady climbs on relatively low volume, followed by a breakout to think it will be a breakdown. Now, if it had happened shortly after the fall down, and been shorter in duration, I would say it's a toss up. But, considering our normal volatility, what we are seeing with the slow climb is promising. (again, as usual) As that guy from the bitcoin channel said, the thing that stands out is how we broke through the two high volume days, where we formed those hammer like candlestick patterns after the "crash" down. Those big red candles those first two days were on half the volume as the "hammers" were. We are basically sitting at the top of that first hammer and what appears like a support level that was formed before we exploded up. The market, again as the bitcoin channel guy has explained, looks like it is weakening to me, if I am interpreting it correctly. The sell side is slowly creeping up and the buy side is slowly creeping down. All the while we are maintaining price. It is not a good sign but hard to interpret. Any ideas about the market? Enjoying, IAS |
|
|
|
Banking systems are collapsing. The world financial systems are not doing at all well and this guy is talking "trendlines" |
|
|
|
|
Show Posts
