see you guys at 300?
so you are leaving us forever? good luck then. Maybe if China were to put a flat out ban on bitcoins and shut down all the exchanges tomorrow that could happen during a flashcrash. |
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There are just too many negative indicators on the daily chart and eerily familiar trap patterns for me to go full btc now. I went 40% btc just so I could chill out and not "miss the train".
I know from experience the best thing I can do when I'm frustrated with the market direction is to take a position with it and then it'll probably reverse,
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 There's so many battles to fight now it makes long seem like a riskier position than not long. |
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I'm going to wait a little bit more. If it breaks 950, it might go even further up.
it broke 950 already but there was some medium dump half an hour ago. 5500 - 5620 on btcchina has been met with about 30K of resistance so far and now it's at 5555. |
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Meanwhile the 4 hour trend has reversed upwards at $950... What is happening? Do you guys still expect these drops to the 6/700s?
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Good evening bears. What do you think of this?  |
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This is like the bounce from 120 to 145 in april, after the drop from 165 and before the drop to 80. The symmetry. |
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Gox is just a bot system that reflects the price on other exchanges. Since the other exchanges are trading sideways, the bots are not active.
You think the mtgox buying pressure is low? There is actually NO real buying or selling pressure on mtgox these days, except occasional arbitrage traders.
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China looks for the 8th time like it might break the trend, but the latest move is on no volume.
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The technical level on the chart where a bottom should have been was 400-450 but it didn't happen because Chinese volume suddenly came back and saved the day. It would be interesting to see where we would go if China truly dropped out. This is why I am not comfortable to he long right now - it recovered for all the wrong reasons.
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Gotta say, it's sure looking like we may see a serious bull OR bear TKO pretty soon.
On the one hand, there's plenty of reason for folks to sell off ahead of a large deepening decline, and the news is just recursive ditherings. *points to chart and news*
On the other, the chart reminds me a WHOLE LOT of the beginning of November, after coming off the ATH and coiling up for an upsurge. *points to chart and news*
Either way, next year we are going to see more massive ATH's. Might I suggest, that before that time (spring '14), many of us consider cold storage, for the sake of Baby Jesus (ahem, I meant the sake of getting some sleep, and reducing stress and BTC LOSS-- no offense to the Believers of Baby Jesus Magick).
I've had no problem sleeping since I missed my chance to sell at 1000-1100 before we found support at 540-630 depending where you traded. Sad I missed out but I'll keep my eyes open, just don't see that happening so close together especially since that drop was helped to go as low as it did. I doubt we break out of 1000 again this week though, I however enjoy being wrong at times. I can't help but remain optimistic. When my exchange has a constant back log of verifications, 40-100 processed a day with 60 new coming in a day has kept cavirtex with about 1400 people pending verification. I remember right before April crash mtgox had 12,000 pending verifications and was doing 1500 per day. |
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16,642.82 BTC sent on the last block. These are constant and a lot bigger than the average amount of TX.
Just saying be ready if the shit hits the fan.
Single digits by Friday   Shouldn't that be "double digits" now or are you going to stick with single digits forever? |
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The question is will china's next leg down find support above or below its previous bottom of 3800 and if it is below, how low will it drag the other markets? At what point do gox and stamp declare themselves independent of china and set their own support?
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I bought at 120
sold at 230
bought at 180
sold at 380
bought at 300
sold at 800
bought at 500
sold at 1100
bought at 900
sold at 1000
bought at 580
sold at 1000
but ok go ahead and laugh at me
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I used to think that bubbles could be defined by charts that hadn't had corrections to the daily ema to support the price in a while, and the price was just kind of floating up too fast without any support. At $1250 I thought we were definitel'y NOT in the bubble phase yet and that I was home free because there had already been a strong correction (on Dec 1) and the price was now supported. Then the whole China thing happened. Due to a lack of support by Chinese buyers, and fear, and exact replication of a bubble pop occurred. It took me completely by surprise. So now I am clueless and back to the drawing board.
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In addition to the weak/broken trend on the chart, all of the order books look like total crap, to confirm a fall is imminent. What happened? The books looked good when I looked at them earlier. Are people pulling orders?
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