This is true but I actually got some good signals a few months ago looking at history, which tends to repeat itself.

Huobi dumped on big(ish) volume but not many sellers on Stamp followed. Let's see if this sticks. My gut says it won't. Short from 408, will probably buy back soon.

Well, name calling doesn't really do it for me anyway

To get serious for a moment there are a few good TA books out there. And the tenets of DOW theory take like, what, five minutes to read? They are helpful if only to understand how the market discounts everything and how TA is used to measure the mass psychology of individual participants in market which includes fundamentals. Seems like you wouldn't be interested in that though.

Oh look, another TA bashing thread.

If you're all going to act like closed-minded children about it I'll simply keep my TA-derived trading strategies (and profits) to myself.

Reminds me of backtesting strategies on cryptotrader. This is nothing new, just MIT kids writing trading algorithms. But they don't take into account slippage, trading fees and order size. If it worked as well as they say it does, they'd be more profitable using it themselves.

The question is not, "When will the next bubble start?"

The question is, "When will Bitcoin grow to include enough users to justify such a monetary price increase?"
 
The good news is that we may already be at that point. Bitcoin's infrastructure has increased dramatically since last year and we even protocols based on its own blockchain (check out Counterparty) are gaining traction with businesses. There are extremely bullish happenings in the fundamentals of this technology.

We picked up many new traders in the recent bear market which will stabilize large price increases for the time being. This is normal and should not be criticized but will inhibit the price from shooting straight up. They too, however, will pull their sell orders in the event of a large increase, which has happened recently if you read over at r/bitcoinmarkets where many "pro" traders hang out. Also, many of them come from traditional market backgrounds, don't always have a deep understanding of what Bitcoin is (but will happily short it for profit), and will take those profits earlier. This leaves the large run-up (which lasted less than a month last year) to speculators with more experience in this specific market, who have a deep understanding of the protocol and what the ecosystem is up to, and are well-connected to early adopters and often trade with proprietary algorithmic bots.

I speak about both groups as they are totally separate but there is probably some overlap. Still, these guys have an obvious edge over traditional traders who use margin and are used to scalping profits in the wake of larger markets like forex. There were a few of these guys here last year, taunting that they would "wipe the floor" with us, then pick up the pieces.

The psychological effect of a bubble is very powerful and driven by a strong natural desire to increase one's own wealth and position... aka greed. Last year, we entered the "foothills" of the exponential price run-up for a few months from July to October (roughly). Once that happens, we grind slowly upwards with pauses along the way as bullish sentiment cements in the minds of traders and coins begin to disappear from exchanges. Then it's a matter of time before a catalyst lights the fuse and the price explodes upwards against all logical expectations. My gut tells me something similar is beginning to play out. Sellers have decreased and lots of dumb money who shorted toward the bottom is either out of the game or forced to buy back less ammunition than they had before.

Counterparty is simply the protocol Overstock happens to be using to create decentralized stock/share trading software. No one knows yet exactly how it will function or how it will look. Most likely digital shares will be proprietary to a digital trading platform though. I could see business opportunity for trading those shares to a traditional trading platform (NASDAQ, etc).

On the protocol level, XCP is required for certain functions. As I understand it, a .5 XCP "burn" is required create a new digital asset. Obviously this fee scales with XCP value so you don't run out.

So those sitting on XCP are doing so primarily to sell to companies/individuals looking to use the Counterparty protocol to create a platform for digital assets in the future. They are also "shareholders" in the protocol that will be able to vote future changes. Like a decentralized board.

XCP has been on a steady uptrend over the past couple of weeks. Nice to see, looks like this one is definitely a holder.

Here's a possible reversal pattern from this long downtrend with some support/resistance lines.



To validate the pattern and go up further we need to break through the top line on heavy volume, heavier than the previous 4 green candles. If the market is extra bullish, we are almost to the resistance point. However, we may visit support on the bottom line, which is around $340. So don't get your panties in a bunch if we head down--if the pattern holds true we will head back up before too long... if the buyers are there.

I remember that you had to get verified last year to even withdraw BTC. So older accounts of people who had money/BTC stuck there are at risk, which probably has been priced in already.

Better yet, ignore. He's just a dumb kid who has no interest in learning. Not going to waste my time.

Good post as usual oda.

Beginner traders should not be trading frequently. Taking a longer-term view and developing a strategy around it (i.e. this one) is far more effective than day trading, or worse yet, day trading on margin.

As if trading on margin wasn't enough. BFX should just implement digital slot machines for when the market is quiet.

Somebody else said it first, but no, it's a "get rich slow" scheme.

No, the child safety seat is for your protection.

Probably going to pull back a little bit here... not to worry though.

Need those beartraps on the way up.

Precisely why growth has been logarithmic and not linear.

Bought one at 450, a few more at 360 and lots more at 300. Thanks bearwhale.

Yes that is correct. Also 440-450 is the neckline of a larger head & shoulder reversal. There is an increased chance that the price will bounce back to 400 or so before resuming up, (only if there is enough volume). Also if there are enough profit-takers, you may get your $420 resistance :8