Traders Paradise I underestimated the power behind the last rally, what i thought was the top turned out to be the bottom (300). I envisioned the market taking a breath before busting above 300, but the FBI auction was only days away, market was bullish and pumpers were pumping! at about 390 I was thinking "wtf is going on?" price was really going parabolic, and so i started selling, then i found out the FBI auction was tomorrow and it all made sense, I sold more. I did pretty good! hope you did too. As i said in the "Bulls on the run" update, trading based on resistance / support lines isn't nearly as good as buy the rumor sell the news type of strategy. rumor has it the bear market is history and the bull market is in full swing.   Look at that, what a year! 300 has been strong resistance ever since the final capitulation to ~155 in Jan. now we have broken through and on high volume, record breaking volume. volume had been picking up for a few months before this breakout which i think gives validity to this move, i poked around and looked at volume on other exchanges (virtex kraken okcoin..) all of them paint a similar story in terms of volume. and the the number of TX happening on the block chain is also clearly growing ( they would be growing exponentially if it wasn't for the 1MB block limit, IMO) there can be no doubt bitcoin is doing well, of course we get Mr Manipulator taking advantage of this fact and pushing price to 500$!!! which is unsettling for some, but hey this is bitcoin, if you can't stand a free market going bananas in a state of growth, GTFO now. I maintain my earlier speculation that trading above 300 will be relatively easy, My forecast calls for more volatile, a wider spread, and tones of confusion. I think the trading range is pretty clearly spelled out, 300 is bottom 500 is top. i see this thing bouncing around like a cheep hooker on ecstasy so all you'd have to do is be true to your trade ( whether it be buying at 390 or selling at 350+ ) and you will eventually be in profit. Adam's prediction: >420 soon Adam's Cheap Coins Target: 310 |
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I wouldn't be surprised to see 1000X more TX on the network by the time the mine completely runs dry, at which point 1/10thof a cent / TX would probably be enough...
the big question is can the main chain scale 100-1000X and allow for nearly free ultra secure TX. I believe it can.
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i didn't expect 500 but it happened, my speculations was it would form a local top the day of the auction, correct, and then keep fucking choo chooing along. we can clearly see the correction and a solid attempt at catching the bottom, pretty sure it's time to keep choo chooing along. poeple seem preoccupied with the question will it correct all the way back down into the high 200's??, pretty irrelevant question in the long term. the inevitable return to choo choo treading is set to go past 500, regardless of how deep the correction was. IMO buy now or die get left behind.
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is crypto done??   no but you seem to be. bye bye! |
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>340 after lunch.   >500 is no longer a sell signal
Correction, those who didn't sell in 300s/400s are so very very sorry now. Guaranteed to dump if we ever hit 350 again. For sure  everyone that didn't sell is going to pat themselves on the back pretty soon... |
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Xmas 2015: 700$
Xmas 2016: 32,000$
Xmas 2017: 9,000$
...
Xmas 2020: 964,365 Big macs
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>340 after lunch. |
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once we've established a clear upward trend, coin-scarcity will go up exponentially, we are at the very beginnings of this happening.
>500 is no longer a sell signal
are full blocks, higher xaction fees and six hour confirmations a sell signal? no the implementation of the solution to these self imposed limitation and subsequent market reaction (32,000$), is the sell signal. the implementation is the buy signal and we haven't gotten it yet...if ever. Imagine if confirmation time slows to a crawl, kind of like the delay in fiat withdrawals at Gox. With the BTC exit blocked instead of the fiat exit, we get a gox bubble in reverse. It's just too big of a risk to take. I already bought a lottery ticket this week. Waiting for a miracle to happen is not a sound investment strategy. i know it's confusing but it's true, when the hot potato gets wrapped in bacon and then infused with blue cheese, its relative hottest becomes 100 times hotter then the regular potato we have going around today. |
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bitcoin is a hot potato, if you want to win you HODL till you hands are on fire, then you HODL some more, at one point your hands have disintegrated and you drop the potato.
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once we've established a clear upward trend, coin-scarcity will go up exponentially, we are at the very beginnings of this happening.
>500 is no longer a sell signal
are full blocks, higher xaction fees and six hour confirmations a sell signal? no the implementation of the solution to these self imposed limitation and subsequent market reaction (32,000$), is the sell signal. |
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once we've established a clear upward trend, coin-scarcity will go up exponentially, we are at the very beginnings of this happening.
>500 is no longer a sell signal
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volume will die down and price will melt up.
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Wait... we broke that amazing two day trend line?
All in All in BTC or all in national currency? Quite confused here. 300$ is looking very good support right now. did you not catch the sarcasm? i believe in my lines they have never failed me, nope! not once. |
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not one exchange followed stamps on this move.
wait no btc-e also cracked below 300.
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snap up them cheap coins! or contribute to coin cheapness wtv. i start up bitcoinity and its like " NOOOOOOOOOOOOOooooooooooooooooooooooooooooo"   |
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we have not closed below 300 even with 15min candles, this is noise...
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