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When will people learn there are no elliot waves in bitcoin.
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The bearish wedge is still there, I guess being dragged out all the way to the apex. Maybe it breaks somewhere after the senate hearings.
The only way that wedge can still exist on Monday is if it goes up some more between now and then. If it just flat lines for 48 more hours, it won't qualify as a wedge anymore, just consolidation at highs. Looks like it went up. |
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If you know could know exactly when bitstamp would come back online to bitfinex then it would make for a great shorting opportunity.
I would do arbitraging instead of shorting, but hardly worth it due to trading fees. Percentagewise the price difference is still small. I have seen up to a 10% difference when it happens. |
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If you know could know exactly when bitstamp would come back online to bitfinex then it would make for a great shorting opportunity.
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these small drops that we have had from time to time (where bears shout: "CRASH!!! SELL!!!") are more bullish than anything else, because these drops show how much support we have and seems to me that we have a lot of support at these cheap prices =)
disclaimer: one 10k sell will change things still, but big holders might want to wait if they are selling in the first place
Each of these corrections probably had no more than 1K-5K coins coming from a seller and the rest was panic and bots. Then the panic stops when people realize there isn't actually much selling going on and turns into panic buying to buy back the coins. But wait till there's a real seller. I wouldn't even call these corrections. Just a bunch of trigger happy traders (and bots) thinking "uh oh here's the seller. now the flashcrash". |
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Yeah the biggest buy I see now is 1K. There used to be 5K buys, 10K buys, 25K buys... I haven't seen those since August. This is being driven entirely by a lack of supply now. The total accross all exchanges is like 25K btc. This is definitely a danger zone.
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The bearish wedge is still there, I guess being dragged out all the way to the apex. Maybe it breaks somewhere after the senate hearings.
The only way that wedge can still exist on Monday is if it goes up some more between now and then. If it just flat lines for 48 more hours, it won't qualify as a wedge anymore, just consolidation at highs. That's now how bitcoin works. It doesn't just go up, consolidate on low volume, and go up more. There needs to be violent movements and recoveries on high volume with buys of thousands of btc at a time to give people confidence and refuel the rocket. |
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The bearish wedge is still there, I guess being dragged out all the way to the apex. Maybe it breaks somewhere after the senate hearings.
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Fiat keeps flowing into the bid side on these exchanges exponentially. I think the whales are waiting to see how far this goes and if it stops then they'll dump.
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margin positions are closed and im holding 65% btc, 5% ltc, and 30% usd.
But this is just because btc is stagnant - not due to senate hearings.
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On the topic of wall observation... This is UNREAL  |
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Stupid bot sold all my bitcoins at a loss and now it seems it will buy again at a loss bitcoin-wise too  Why do you think we keep saying "Buy and hold". Do you think we're joking? Do you think this is some kind of game?Buy. and. hold!!! . It's funny (or tough?). I know that (holding) is the right thing to do, most likely, even in this scenario, but can't help to want to up trade the rogue waves. I imagine that even had I bought in at 4$ (yes, I'm jealous), I might still be tempted to trade the major parabolic swings (April, now). Hold some btc in an exchange like bitfinex and use it as collateral for margin trading. use margin to trade the waves. |
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This is different from the normal dip/retracement. Sellers are actually running a demolition on the large walls rather than just retracing over low bid depth. Also, over 900,000 coins were transferred today.
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tonight we dine in hell at 300
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good time to get cheap coins now, before it raises to 500 in the next 24 h.
2% away from ATH is "cheap coins"? |
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at $120 i bought 40btc and another 40btc on margin.
since then ive traded the margin portion several times.
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Bitstamp is normally bullstamp, where selling has been disabled and there is nothing but consistent buying. If Bitstamp is selling then that is a pretty bad indicator.
Not true, Bearstamp sells all the time, they had their own freakout yesterday dumping to 400 when gox was at 430 Yesterday was a bearish day also - not a good indication. |
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Bitstamp is normally bullstamp, where selling has been disabled and there is nothing but consistent buying. If Bitstamp is selling then that is a pretty bad indicator.
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