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Chinese can use this card to spend their BTC. No need for a Chinese bank.
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We have breached 472.50. If we continue lower, the next major supports are at 454, 400, and 355.50.
If there was supposed to be support at 472 and it didn't materialize, why in the world would you believe other magic numbers will work? There was some support there. It was the 7-day low. That support didn't last very long. The 454 support was the low around 10 days ago. But it also won't have a whole lot of support. It could hold if selling is running out of steam. Beyond that we're looking at 355.50 as a very strong support. It's the 5-month low from November. |
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Not to tell you I told you so.
But I told you so.
When there isn't fresh fiat the market makes up bad news to give itself the excuse to sell off.
This will continue until fresh fiat arrives.
The weak link for Bitcoin is buying in with fiat. Governments can currently block that. We need a solution. They also gave us the solution: cash. Cash requires an in-person transaction with someone who has BTC. This doesn't scale and risks those involved. We need something else. |
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Not to tell you I told you so.
But I told you so.
When there isn't fresh fiat the market makes up bad news to give itself the excuse to sell off.
This will continue until fresh fiat arrives.
The weak link for Bitcoin is buying in with fiat. Governments can currently block that. We need a solution. |
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We have a new 3-day low. That's not so bullish. Unfortunate.
Im not sure what you mean by that, yesterday we visited 486 on stamp, not seen that again. BTC china is in a contracting range/wedge. The bullrun is losing momentum but the bias is not bearish. You answered yourself with your last sentence. If we can make a new 3-day low once, we can make it again pretty easily. The next major line of support is at 472.50. If we breach that we're in bear territory, with the next major supports at 454, 400, and 355.50. If we bounce off 472.50 and break above 515, that would be a pretty good bull sign. Between 472.50 and 515 is no-man's land. We float with no conviction in either direction. We edge closer and closer to 472.50. I expect to find some support there. If we break through, we will head down quickly and finally reach capitulation. If we remain above 472.50, I expect more boring drift. We have breached 472.50. If we continue lower, the next major supports are at 454, 400, and 355.50. |
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This is a good long entry at 490.
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OK, you folks ready? Recommend shorts close now at 492.
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Imagine the buy wall as a line of Spartans, shields connected. Push forward! PUSH!
Those participating in the smaller buy wall at 490.10, join the 491.10 buy wall now. We're going to walk this buy wall into the bastard sellers one step at a time, and shove it down their throats. This is BITCOIN! |
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Imagine the buy wall as a line of Spartans, shields connected. Push forward! PUSH!
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We have a new 3-day low. That's not so bullish. Unfortunate.
Im not sure what you mean by that, yesterday we visited 486 on stamp, not seen that again. BTC china is in a contracting range/wedge. The bullrun is losing momentum but the bias is not bearish. You answered yourself with your last sentence. If we can make a new 3-day low once, we can make it again pretty easily. The next major line of support is at 472.50. If we breach that we're in bear territory, with the next major supports at 454, 400, and 355.50. If we bounce off 472.50 and break above 515, that would be a pretty good bull sign. Between 472.50 and 515 is no-man's land. We float with no conviction in either direction. We edge closer and closer to 472.50. I expect to find some support there. If we break through, we will head down quickly and finally reach capitulation. If we remain above 472.50, I expect more boring drift. |
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We have a new 3-day low. That's not so bullish. Unfortunate.
Im not sure what you mean by that, yesterday we visited 486 on stamp, not seen that again. BTC china is in a contracting range/wedge. The bullrun is losing momentum but the bias is not bearish. You answered yourself with your last sentence. If we can make a new 3-day low once, we can make it again pretty easily. The next major line of support is at 472.50. If we breach that we're in bear territory, with the next major supports at 454, 400, and 355.50. If we bounce off 472.50 and break above 515, that would be a pretty good bull sign. Between 472.50 and 515 is no-man's land. We float with no conviction in either direction. |
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Are we headed for a retest of 472.50? Is a second rejection of that price level what we're waiting for? Do we need a double inverted head and shoulders at this level?
presuure is so weak, this cant go too far today. if this is the best that 600BTC sell walls across exchanges can do to the market, that is quite bullish. even if they were dumped, they would be gobbled up within $10 price range. We have a new 3-day low. That's not so bullish. Unfortunate. |
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Are we headed for a retest of 472.50? Is a second rejection of that price level what we're waiting for? Do we need a double inverted head and shoulders at this level?
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Hey, check this out. The real news with this exchange: unlimited trading for $99 per month. No per trade fees. |
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There is no evidence of this wall on BTCCharts "historical" depth. Probably a glitch and nothing more.
How often, and when, are the snapshots taken for the historical depth? |
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That was a USD$15,000,000 sell wall. That someone trusts an exchange with that amount of wealth is an impressive show of trust in BTC's infrastructure. That the wall was taken down and price is now up a few dollars shows the owner of those BTCs doesn't believe price is truly going down.
You want to know what happened?
The whale put up bid orders to get a discount on coins, showed the massive sell wall, triggered a mini-panic selloff, had his bids filled, then removed the sell wall. He got a discount and increased his long position further. Does this sound like someone who believes the market is going to drop right now? He's holding an awful lot of coins for a bear.
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Notice how we jumped right back up to where we started. There is buying support at this level. I saw hundreds of BTC sold in that mini-panic, and it was absorbed quickly. Now we are right back at the same price. This is no bear market. This is a bull market waiting for the breakout.
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From the article: Paedophiles pay for sick online 'shows' using untraceable Bitcoin The blockchain, a ledger of every Bitcoin transaction since Bitcoin was created, is completely public. This is hardly untraceable. We can't trace the final receiving address until it spends some of its money. But you can trace anyone who gave Bitcoin to the perps by following the chain back to an exchange where fiat turned to Bitcoin. Then you find that person and track where they sent Bitcoin. Detectives should be able to locate where the person got the BTC address they sent to and locate the owner of the address that way. For example, someone posted the address on a forum. Now you check the forum's records and get an IP address and you have a person. Repeat the process and follow the chain until you get to those who paid for the show. The actual perps may be well hidden. But those paying for the show can't guarantee the Bitcoin they received and spent to be untraceable from exchange to them. |
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If you bought Bitcoin a year ago would you have made a profit or not? How about a year before that? I guess the thing to do is buy as much as you can afford right now and come back next year to tell the story of your great success.
You would have made only a paper profit. You have to SELL to have a real profit. Are you calling Bitcoin paper? You want him to sell his BTC for paper U.S. dollars to avoid his profit being paper? Are you serious? This is a basic concept and a basic expression to cash out in order to realize the payoff of the investment. The expression of paper profit or paper loss for that matter, is NOT realized until the asset is cashed out. This concept loses its meaning in forex. The IRS may disagree, but BTC looks more like a currency than a commodity. It is directly tradable for goods and services. It need not ever be exchanged for a fiat currency. Long term holders can choose to use BTC as their base currency. If they feel another currency looks bullish against BTC, they can buy that and then sell back to BTC when they want to lock in profits. |
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