People and their charts - as if the Bitcoin market can be predicted. Charts are irrelevant in the face of an in-progress or upcoming "crises".
Once the auction is done, the price will resume normal rise / plateau / rise / plateau pattern.
Are you serious? Most trading even software driven in the market is done based on indicators along with news analysis. On the other hand, MOST people have no idea how to read indicators and instead simply look at the price trend which is quite useless. Entry and exit points are identified using indicators. A simple example is May 19 entry point and June 6th exit point as long as CCD is positive and MACD is above the CCD: Enter as it goes above +100 and exit as it descends below +100. That's the simplest case example and can be made way more accurate by taking into consideration 10 other indicators to identify entry and exit points. On the other hand, this statement below is naive and just an assumption: "Once the auction is done, the price will resume normal rise / plateau / rise / plateau pattern". Yeah, that rise / plateau you are talking about is $$$$$ to a trader. |
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I don't like indicators.
They tell you what you should have done, not what you should do right now.
That just means you don't know what indicators are. |
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Not looking good...  |
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And we will be floating around 500-600 for more then 4 months?
It would be a very boring 4 months, but at the same time many of us would be making profits here anyway in one way or another. My prediction: I think, many people around the world have not understand the power of bitcoin yet and are mostly clueless about it. Once the mainstream is reached, there would be a massive uprise in market price. Adoption generally does not happen at once, but is a process which goes over time. The adoption is only going to grow whether its gradual or quick. Its better to see a stable price and a gradual rise than monkeys throwing crap cakes kind of scenario like it happened with the Chinese fiasco. The fact that its holding in a stable pattern is very good news for long term BTC outlook. |
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I've got around $7500 ready to pump in, just awaiting the "opportune moment"  Not right now...wait a bit! Do it as soon as you see positive divergence... |
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Its a nice deal if it can hang on to the 6xx area for a while. Stability of price always helps support a positive long term outlook...
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Do you think the original post was meant to apply forever? Use your common sense,
If it wasn't applied to "forever", then why the F would I bail out? Bailing out means the ship is sinking, get out before you you do down with it. If the price drop was just temporary, then why the fck are we worried in the first place? I am and have always been positive on long term prospects of BTC. However, I am a trader and my words may have been confusing to long term traders who would have seen it as leaving BTC altogether. I don't think its worth sitting and waiting for BTC to head higher because traders are in the game now and traders enjoy waves and take their slices at they come along. Its worth taking profits as they come though there is always a risk of missing the train if and when it takes off the station. There are always more entry points to come along but taking the exit points is what books in the profits. Hopefully this FBI saga will be over soon and we are back on track climbing over the $1000 wall. |
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What's funny to me about this thread is that even after our huge drop recently.....we are STILL over $100 higher than when this thread was made. LOL. As if 25% PLUS returns were suggesting we "bail the F out". ROFL.
Do you think the original post was meant to apply forever? Use your common sense, the post was made based on information available at that time. This post is for current indicators and meant for traders and not long terms hodlers. |
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Not sure if you are checking the indicators but this so called 'dip' that you are talking about appears to be just beginning. Its diving down with its mouth wide open.
Traders are having a great time though! :-)
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Regardless of how down it will go now.
If in 3 months time it goes up, then I am still not selling now.
I had to get this out of my chest in case whoever is controlling the BTC movement is reading this thread...
it WILL go up eventually...
Regards
Heider
Everyone will just hold their coins indefinitely for the rest of their life. Very nice agile economy. Well, no one is saying "indefinitely", everyone has their target price I guess. |
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Well DustyRah... Volumes are drying up, lines crossed again into the negative and then back out into revive yesterday, don't know why though, could it be that some investors might have had enough and decided to call their BTC off?! Don't know really, but seeing the price hovering around $650 could indicate that it's the true actual value of what it's worth now, which also means that as the time goes by, if no horrible news comes up, then there is no other way than going up. Well, until of course, another exchange decides to take off with the money like MtGOX  Regards Heider Yes, you are correct. This would be expected given the rise in a short time. BTC would have to keep its own into the 6xx level for a couple weeks or more and we are good to go on a long term basis. |
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Looking at the stats,
It was trying to go up now, but there has been a pillar of 1200 BitCoins since early morning (684 BTC remaining now) to be exact placed to sell at $655 which is making it bounce back every time it tries to eat it.
Over the past 3 days I noticed similar activities, I was shocked when I first saw 2400 BTC few days ago.
The volume is increasing at the moment which promises higher value on the run. Again, No one can predict it. But if the the Bid-Sum goes up again, then the price should "in theory" shoot up.
I don't know by saying this, if it would do the exact opposite just because I am posting this (I truly believe it now). I am just explaining what I am seeing, I no longer care about if posting would affect it for future.
I hope this helps.
Cheers,
Heider
I am not sure its going to cut through that, it appears to be running out of momentum. |
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The lines have crossed...blah blabbidy blah...watch your a$$ out there plz!
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Boosters depleted...hopefully the regular engine will continue to take us north...
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Does anyone know how good are the mining contracts that are up at mining.cointerra.com? I mean in terms of the 5% maintenance fee etc?
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 Price broke up out of trend, but it is always easy looking back. What is gonna happen next is unkown, you can not predict it. This line could have been drawn before, but there are always a 100 more 'patterns' that one could find and that contradict this movement. So no way, one could have know. If you base your trades on the news, than you are out of luck too. When the news gets to you, you are already to late. Its difficult to get a reliable idea based on a straight line as shown in your graph. I suggest getting into indicators using a combination of RSI, CCI, MACD, volume etc. That along with different time periods can give way better indication. |
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Yep. It is petering out for sure. The whales have stretched this sucker out as far as it can go for now I reckon. But I will probably be wrong and we will wake up with $720 Bitcoin tomorrow. What I am noticing though is some very fishy trading patterns. Like someone somewhere is rolling Bitcoins back and forward between accounts to try and manipulate the 'indicators' or something. It's all fucking bullshit, and its bad for you. But hey, if you can buy some piece of digital code for $500 one day and reliably sell it for $600 the next, who can complain?
There is nothing fishy mate. The volume you see is based on positive BUY indicators. When the indicators turn SELL, you will see the opposite. Don't be paranoid, there isn't any guy sitting around buying up a whole lot of BTC at his own losses just to sell it lower than he bought it for. Note that BTC did not go anywhere for a full month because it was neither a SELL nor a BUY as per the indicators at that time. Also, we don't have as much sucky news as we used to have thanks to the Chinese squirrels selling out and taking their nuts out of the game. |
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Sorry, bitcoin does solve a problem for the masses! You use bitcoin to easily and securely send money to anyone in the world for very low cost!
Let's examine the competition:
Bank transfer (ACH/wire/SEPA/etc) - 3-4 business days + big fees
Personal check / money orders - mailing time + 3-4 days to clear + small fees (also your mail can be lost by carrier)
Cash - instant + no fee BUT you have to be in the same physical location. or take the risk of losing all by sending cash in mail
Paypal - instant, but expensive fees to receive money (i think like 2-3%). also paypal can freeze your money for whatever reason they want
Western Union / Moneygram - same day transfer + big fees
Bitcoin - instantly received, spendable within 30 minutes to 1 hr. transaction fee of roughly 5 cents
True that, its the most easy way to send money at this time. I just wish supermarkets and grocery stores start to accept BTC. Anyone know of any supermarket or grocery store accepting BTC at this time? Hopefully if Amazon starts accepting it, some supermarkets may follow. |
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Do you think traders will take this as a bullish sign and take this another level up? I tend not to look at lagging indicators as much, preferring leading indicators like RSI and MACD.
You'll see many bots buying if weekly MACD crosses. Bots and traders alike...its already quite positive at this time, we have a live one! |
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