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I don't buy that one - why the triangle is going throught the point at Apr 29 and not Apr 23? The triangle involving the 266 hight was already broken, but now we can have another one starting at the low point and then Apr 29 high and resting on Apr 23.
The way I see it the 266 crash is the dominent trend. Everything we have seen since then has been consolidation from that crash. TLDR It has more weight. |
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It will take a long time for bitcoin to gain enough traction in China to become "dangerous to their interests". This is major news because it will rock the market until that happens (which will rock the market again  ) Also if they didn't crack down that'd be cool too. |
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Should we close this thread and make a new one again? It's getting too many pages again.....
Bear propaganda. They want the value of this thread at 1 |
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He might have one, but something I've learned (and read/recognized from J. Krishnamurti) is that we need to "See the truth in the false". In other words, everyone has something to say and there are true words coming from everyone - and quite often wise due to different lives, circumstances, experiences, etc. I'm not saying he is all truth or all false, but clearly he adds a lot to the talk. I listen to what everyone has to say. Sometimes we look for just a "professional" perspective with big words and all that, and then we miss the teacher on the street that goes under the radar. I'm not coming down on you either, just being slightly contrarian. +1 |
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Let's not forget that a major bubble popped less than 30 days ago. It took one year for the price to return to $30 after the 2011 bubble. For me the only thing holding us back from the strong downward pressure from the last crash is the Chinese news. People have been squabbling over what this news means in the short-range. What are the implications of this for the months to come? This is MAJOR progress for bitcoin. The Chinese government is most certainly backing bitcoin as we have had multiple media leaks endorsing it. It cannot be an isolated event.
Buy the rumour, sell the news. They (CCP) are now loaded, and may be ready to cash out short term. Long term china will be a major playa. Yes, it will go back sub-100 briefly, goat is right. When do you see this happening? I would think the influx of investors on Tuesday would necessitate it happening before then. |
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If the CCP's Propaganda Ministry is hyping BTC you can bet your ass you're amidst a pump. It's not some noble endorsement of new technology by the Party's "broad minded" leaders, it's a play. Nothing that comes out of that regime should be taken at face value. It's not a normal government and not a normal society.
Pump or not the price is going up at least for the near-term (that being the pump phase). |
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Let's not forget that a major bubble popped less than 30 days ago. It took one year for the price to return to $30 after the 2011 bubble. For me the only thing holding us back from the strong downward pressure from the last crash is the Chinese news. People have been squabbling over what this news means in the short-range. What are the implications of this for the months to come? This is MAJOR progress for bitcoin. The Chinese government is most certainly backing bitcoin as we have had multiple media leaks endorsing it. It cannot be an isolated event. The investors will probably be pretty bad until the bad ones lose capital. Therefore I expect a lot of volatility in the coming weeks.  We're actually riding this upper wall. I believe the reason we have not crashed (and appear to be rallying) after we smashed the 120 wall and wallzilla jumped ship is because the market is deciding how it is going to react to the China news. The market WILL react to this positively, it is simply too big to ignore. I see a steady rise upwards that gets refueled on Tuesday when the new money is released (the new investors will be happy to jump on the upswing, and actually, this is quite good IMO. This will act as a catching net and widen the base of initial investors from China. Only good things ahead for BTC |
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And we are under 120, maybe wallzilla was the only one pushing this up, now free fall?
I want 70$ coins!
yeah, that sure seemed like heavy-handed manipulation -- the wall disappeared moments after we broke $120 to see a short selloff (M's coins?). the funny thing, though, is that it completed the bearish wedge shape... it makes me wonder about the relationship between large players and standard methods of TA. I think they know that others are going to follow these patterns and take advantage of it. Having the power to make the formations is pretty much awesome control. And we are under 120, maybe wallzilla was the only one pushing this up, now free fall?
I want 70$ coins!
70 seems ambitious We will see, I'm willing to wait months. But then again if I'm wrong, oh well  We only hit $79 during the last capitulation. I can't see us going any lower than that this time. |
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And we are under 120, maybe wallzilla was the only one pushing this up, now free fall?
I want 70$ coins!
70 seems ambitious |
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waiting for his new wall at $115  The hero bitcoin needs... But probably isn't going to get, lol.  That wall existed to create a false sense of security. He wanted to sell. Yeah I'm bearish with you Namelessone |
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waiting for his new wall at $115 The hero bitcoin needs... |
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I agree it is hard to say what exactly is happening with the wall but manipulation fits occam's razor for me. MANIPULATION?! On Bitcoin?! You must be crazy!  |
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Well I was wrong. We broke 120 before breaking 105.
This was clearly however cuz of godzillia but all is good.
When I have money on the line I seem to be wrong about 80%of the time. But when I don't I'm right 80% of the time.
Greed must really mess with my head.
The bears aren't extinct yet. I'm not convinced we don't dip again until 125. |
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Any of the big Bitcoin businesses would be interested in stability, including of course MtGox.
Why now? Gox has been taking $ hand over fist during these last few days and I didn't see any mystery walls then. There's also a number of people who have 50k-300k coins who probably have cashed out 1-5M. If I owned that many coins, I'd keep a nice chunk of cash on MtGox to prop up Bitcoin as needed. If I owned that many coins I would use them to manipulate the market and turn them into more coins while BTC is still in the triple and (possibly) double digits. This is the time for the whales to turn huge profits into really huge profits. Once BTC hits the thousands it will not be so easy. That's when the market really needs propping up. The interesting thing is, the coin dumps have stopped. No one has sold a huge chunk of coins. No one wants to cash out anymore? More evidence the coin dumps are to move the market down, not to take profit. Or they're simply waiting for the price to go up to take bigger profits. Look, we're going to test 120. Let's see what happens... |
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My theory is that it's the same bubble and crash all over again and they are driven by the same cause, mining efficiency.
Interesting take, I haven't heard this one before. When precisely did we get the new mining tech this year? (forgive me I'm new here ) |
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Everyone on this thread is so sure of their hypotheses.
Maybe. But it is also a waste of writing space and generally annoying to read "in my opinion," "I think/believe," "probably/likely" before every prediction. Grow a pair and say what you want to say. Also, when proven wrong, don't apologize. Make a witty joke about your prediction a few comments down. Am confused, I thought that you thought we are all evil? Please forgive me, I am in 50% troll-mode today. That's not a witty joke! Caught in your own game. |
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All this manipulation talk is getting boring/old.
Have you guys consider for a split second that somebody might really want to sell those coins?
I'm confused, if this is a manipulation attempt, then, when the manipulator places his selling order, will you guys also say it's a manipulation move? Or is it a legitimate sell?
Also, all this work pushing the price up, then he, according you guys' manipulation theories, is able to sell at higher price. I hate to burst your bubbles, but if removes the wall there is no market depth to execute his selling orders at whatever prices he has been trying to push to.
Also, if you have more money than what is necessary to manipulate a market, then you can only go for peanuts anyway. Market manipulations usually have strategic/political goals behind. Sinking a small player, build or destroy confidence on an niche, media access, etc. Manipulating to capitalize doesn't really work, if you are the biggest player then you are the most affected by your manipulation.
Just my 2 cents.
That wall will either be consumed (even after a couple of moves) or the money will be thrown directly at executable prices driving the market up. I think the chances of it being just removed followed by a price drop, are low.
Can someone who knows more than me please answer this? Zemario provides the most logical argument for this wall I have read today. |
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Why do you hope the wall keeps moving up? That just sets the stage for a more dramatic crash.
So I can catch the peak before the crash and then buy in again when it is low. No guilt from participating in the manipulation and robbing inexperienced traders? These things don't exactly help Bitcoin's reputation. Inexperienced traders don't get robbed, only ignorant or stupid ones. You have the responsibility to educate yourself and you have access to all that information for free on the internet. Is there any honor in robbing ignorant or stupid traders? You take risks when you enter a speculative market. /discussion |
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