|
This is old news (apple policy change). Plus, nothing short of bitcoin opening on nasdaq tomorrow would could such a sudden giant unnatural shift in trend as that.
|
|
|
|
|
Don't try to analyze the exchange volume too much. The only bullish way to explain the latest volume levels is to theorize that there is been a huge leap in the amount of off-exchange investment and merchant activity going on. Otherwise, these tiny volume levels on this latest rally and decline are extremely bearish in comparison the huge volume levels there were going on just months ago at the same price levels and even higher.
|
|
|
|
|
Inflation is not a valid argument to support taking a high risk on a speculative asset. There are plenty of other assets to invest in to beat inflation such as real estate, inflation bonds, and stocks.
|
|
|
|
I just bought some coins at $555, I think we're going up from here. If we break convincingly below 530 on Stamp I will take my losses.
Short term, there's a descending wedge in process, plus bullish divergences in MACD/RSI in various timeframes, and declining volume. I don't think there is much selling power left even if we take out the former low, but medium term is another story. Yeah I noticed those divergences that's why I bought, and also because I think 530 will hold and being confident enough about it to put some money on it. But I'm curious as to why you think medium term we may be seeing lower lows? I tend to think we will most likely see $800 and perhaps test $1000 again before the end of this year. A new ATH and bubble perhaps in 2015, but not too soon. We are now firmly under the weekly ichimoku cloud and if you study the 1D, 3D, and 1W RSI over the past 2 years, you can observe a bearish trend going on. Also, this past rally should have gone higher than $680 and retraced much higher than $535, which broke the previous April peak of $548. The 3D looks like it's about to cross back down soon if we don't recover, and there's a 2 year trend in a weak position that looks like it might break. It boggles my mind that the trend is like this with the sheer amount of new and large business that have adopted bitcoin lately. |
|
|
|
|
If we go sub 500 this will be the first time ever that there was a bull trap of this magnitude, involving a crossing of major 3D/1W indicators occured, the bull market was denied, and the bear market was re-entered. It will truly be a first time experience for all bitcoiners and there will be nothing in bitcoin's past you could compare it to and comfort us with.
|
|
|
|
|
This is why trading with TA is so useful in Bitcoin - it allows you to see the influences and abnormalities that are happening with the price trend due to insider trading before the actual information behind the movement is revealed. By the time the news comes out, it is mostly already priced in. Being good with TA is the only way to trade around here and have an edge over people who are trying to trade based on fundamentals.
|
|
|
|
|
I think OP's trendline (the one we're all following lately) sucks to begin because it's drawn based on one part of it touching on a giant wick of a candle (SR october crash), which skews it greatly. Given this detail, the action where we are currently trading right on top of this trendline is very weak.
|
|
|
|
 Guys chill out it's not just going to break through both of these supports in one go right away, right here where they are intersecting. I think if they break then it will break them both separately on separate occasions starting in at least a couple weeks. |
|
|
|
|
I'm just saying due to the length of this 6 month sideways trend, the pessimists have finally now adopted their own picture. The optimists always post a train pic during a false breakout. Now the pessimists post a sinking ship pic during a false breakdown.
|
|
|
|
|
Sinking ship pics... the new train pic.
|
|
|
|
This 'price moves on or is correlated to the news' mindset is some sort of old school wall-street-minded thinking which started up when all these 'wall-street' people and big experienced investors started getting involved with bitcoin - that is the only way they know how to think. They aren't familiar with this decentralized market structure with the predictable underlying technical forces that we are familiar with, lack of regulation/transparency, and gigantic chunks of the supply being held by irrational children.
A big part of deficit in the crypto world isn't only held back by irrational children. A very big part is held back as a rational plan by grey area players, who run the market. Most of the people underestimate those who actually run the exchanges. They rake in a lot of coins with fees, while their operating costs are quite low. But that's not it. They can earn even a bigger amount by playing the market with having access to information that isn't public. They have an detailed overview of their customers balances and they can even map their customers trading habits. If they are anywhere near being smart, then they are also sharing this information with each other and collaborate their trading actions. This consortium is probably the one who is mainly responsible for the artificial deficit created in the crypto world. Ya. There are so many different things that affect bitcoin prices, including mining, that it makes it a much more complicated analysis than that of a stock which moves mostly based on news. |
|
|
|
|
I think there is also some sort of 'miner-cycle' where miners hoard coins and dump coins at certain times and ASIC companies pay off their overhead costs, or people use coins to buy ASICS, etc - I haven't quite figured it out yet.
|
|
|
|
|
This 'price moves on or is correlated to the news' mindset is some sort of old school wall-street-minded thinking which started up when all these 'wall-street' people and big experienced investors started getting involved with bitcoin - that is the only way they know how to think. They aren't familiar with this decentralized market structure with the predictable underlying technical forces that we are familiar with, lack of regulation/transparency, and gigantic chunks of the supply being held by irrational children.
|
|
|
|
We're now unsticked, for what's worth...
Probably finally ready to go to the 700s
No. We will be re-sticked for a while if we're going to break into 700s. |
|
|
|
meh ... shotring again @620$ on Finex.
Looks like U.S.D. swaps barely ever fell at all and now they are at a new all-time-high...  |
|
|
|
BUY BUY BUY BYU!
Get your cheap coins, we're going to 1k.
Let me guess. You are one of the same people earlier who said "SELL SELL SELL we're going to $400"? |
|
|
|
|
I would have traded this if my coins were on an exchange, but they're in cold storage, and I don't consider it worth the risk to take them out of cold storage just to make a single trade during a bull trend. Your 5% gain could be a 100% loss if the exchange dies, your account is stolen, or you fuck up transferring or resecuring the coins.
|
|
|
|
|
I think in a BEST case scenario be break upwards of $680 in 3 weeks, spend a month consolidating in $800-$900, and then break ATH in September or October.
|
|
|
|
|
Bitcoin lately has this way of 'playing possom' during a crash/decline and acting like there is no support to give you the feeling that there is going to be no rebound. Nobody shows their hand and the buyers just wait around until a few minutes after the sellers are finished dumping. Then someone caves and they all start rushing in and market buying. After seeing this happen enough times you learn not to be fooled and not to panic.
|
|
|
|
|
Show Posts
