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I almost placed a 3x leveraged short at 229$, but was too lazy to press the margin sell button.
Thought I had time until tomorrow to reach 229$, but now I'll have to wait a bit and see how this situation develops.
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russian bitcoin ban hammer getting closer.
just look how fast profits are leaving btc-e.
soon™.
They are desperate to get out, must have some inside knowledge. The withdrawn coins will probably be distributed and slightly increase asks / seller pressure on other exchanges. |
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To all bears: Short now!!!  not yet This.  The DCB has a bit more room left. |
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Good good....
Despair...
You know the age old adage right.
Despair, now? I don't think so. We should have a nice despair mood about 3 weeks from now. |
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A good shag may be coming during the next weeks. Largest spike in transaction fees since November 2013.  |
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12h PSAR flipped to bearish on Bitfinex and BTC-E and very close to flip on Bitstamp and BTCChina.
Sometimes, when it looks too bearish, it's actually bullish. Just sayin' And sometimes if it looks mildly bearish, it's just a prelude of crashes. 12h PSAR flipped to bearish on all exchanges, also 1d PSAR flipped, so we're not going up significantly for a while. |
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12h PSAR flipped to bearish on Bitfinex and BTC-E and very close to flip on Bitstamp and BTCChina.
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Largest spike in BDD since March 2014, nice... should provide bear ammo for the next month. |
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...The way I see it, bears are running out of time... buy now or get burnt.  No, bears aren't running out of time. Even if THE bottom was 3 months ago, considering that the market moves slowly, there should be another 1 - 2 months of relatively low prices. So "buy now OR get burnt" may turn into "buy now AND get burned", in the bearish scenario. In the bullish one, plenty of time to buy, mega-rally only after the block halving in 2016. |
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Due to lack of major action, MACD in several time frames is slowly recovering towards 0, and with weak positive divergence.
This looks similar to the semi-failed breakout of February 12th. But in 12h frame the MACD is still significantly lower than back then.
And lately bullish moves have lacked strength, so I have doubts that the market would be able to build a major bullish pattern (315+).
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A recording of the presumable glitch.  |
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Yesterday there were huge spikes (now they are back to normal) in both BTC and USD swap rates, was it a glitch or is there some explanation?
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I pretty much share the same short-term view.
Here's DanV's newest projection.
<snip>
 So effectively the guy that predicted Bitcoin's spiralling down to, what, $50 has now predicted a turnaround and bounce-off of about current levels? Interesting turn of events. No. If you understand what he has written on TV, and the chart labelling, he is opening up to the possibility that we are still in a corrective move from the $166 low. See his green line to $360, labelled [C] - that would mark the end of the correction (from $166) and resumption of the downtrend to new lows at $xx(x?). IDK if this significantly alters his downside target, but it would certainly drag this bear market out several months longer than his previous count, which had us starting the move to new lows from $300 a month ago. Pick your poison ... EW counts evolve with price action. To him this current action does not fit well with his previously published chart, so he is publishing a new one, as any sensible analyst would do. Remember - the best EW analysts have multiple counts running in parallel at any one time. It is only by excluding those that are invalidated and focussing on those with the higher probabilities (according to EW rules) that they stay on track. But they will keep an eye on alt-counts in order to switch if the primary count is invalidated/looks less probable. Here is the link to the chart with his commentary: https://www.tradingview.com/chart/BTCUSD/EUytkasj-BTCUSD-FURTHER-SHORT-TERM-WEAKNESS-IN-STORE-WITH-OF-TARGET-210/I doubt that the breaking down would stop at 210$. Once 4h and 6h MACD divergence would turn negative, IMO large dumps would break the key 210$ support level. So if the market will go up to 300+, it has to start pumping soon, without any major drops before. |
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6h PSAR flipped to bearish... |
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Some of the shorts might have been just reserved, not actually sold yet.
And compared in $ with the longs, they are a small fraction, might just damped the fall.
I am not shorting yet, waiting for a low risk / high (not highest, obviously) reward entry for my planned short.
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All centralized exchanges would shut down if that happened. Then truly decentralized exchanges would thrive. Let's see them skin the sheep.
You must be new here, but your "legendary" status says otherwise. What did Gox, BTC-e and Stamp all do 2 years ago before we broke above $100? Were they losing their asses or did they open up because they knew it was a lucrative business even below $100? I'd actually wager a guess that they make more money at lower prices because volumes are higher and more people are able to buy more with the same balance. Their actual USD fees wouldn't change much if at all but their BTC fees would double. Win win. Win win just in theory. The exchange owners probably are large BTC holders, they would personally benefit much more from higher prices. |
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Why is Bitfinex so bearish compared to others?
That. BTC-E is normally $5-10 under finex. Still over 25 million $ in longs. If they would close, they would wipe the bids multiple times. Probability of a long squeeze during a new crash is high. |
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It seems as if Ryns yellow count plays out, or is it just too early to tell?
Yes, it seems so, after this apparently minor correction. To confirm this we should see a failed breakout tomorrow. |
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