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I expect a little halving pump, that could reach 690$, and am planning to short the top of it.
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I'm laughing at people that try to short the halving.
In a couple of days you may laugh at me. And we'll see who laughs last...  |
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The dump is taking a pause, maybe it will resume during the weekend.
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smoothie must be a Chinese commie, he used red for up Up UP!  |
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January 4th 2015, price just dropped to 260$, BFX prices. 12 days later, price dropped to the 166$ bottom. So... this guy was right, there still were too many bulltards! |
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Will the Chinese pumpers be able to pull a small pump, before a large dump, like 7th - 16th January?
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IMO a correction down to 420$ could invalidate the bullish scenario, so permabulls better hope it stops at 480$.
How 62% retracement of $190 -> $800 move could invalidate something?  The first correction was about 30%. A new correction, from 700$ to 420$, would be 40%, and would increase the chances of a weak rebound and a third leg down. Assuming this was a wave 3 and now we have a 4, it should stay mostly above 1 (475$). If it drops to 420$, then this might have been THE B wave and we could see a final bottom close to 100$. But for now I see little reason for the doom scenario, the Chinese manipulators can make more money pumping than dumping. So I expect another 30%, from 700$ to 490$. |
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According to this count:  The weekly sma20 is gonna be revisited first.  IMO a correction down to 420$ could invalidate the bullish scenario, so permabulls better hope it stops at 480$. |
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I would close my long and, at the right time, open short from ~1000$, close at ~500$.
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Support broken!  Didn't expect this... Waiting for a long entry, but this is getting bearisher...  |
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Yesterday's bounce made me close my short... Oh well, another missed opportunity...  |
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pretty tame reaction tbh. price hovering around 650$ is quite disappointing after such a gross move. markets are down like 5-10% and bitcoin more or less the same? strange.
Bitcoin price has nothing to do with Brexit. So far, the retracement is about 56% of the correction, it may reach 62% today or tomorrow, then more down. |
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Last chance to buy @ $5xx
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This pretty much after the 20 days or something in july when the halving is over lol. People are going to wake up a rude dream and feel terrible if theres a fear of price drop that becomes a domino effect. No, it happened much sooner! |
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We are starting to get mainstream breakthrough.  But.. Umm.. 30% drop in less than a week, not looking very safe...  |
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If we've not reached the summit
Then Bitcoin plummet
This: Try to adapt the proportions of that, in your head, and apply it approximately for what is happening now!*Edit: I am not 100% sure, because the market is more mature now and those chaotic dips might have been due to a more panic driven traders in the early days.It's an interesting observation, and according to that chart, we should bottom around 380$. |
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I compared the correction with the one of 4th - 5th November 2015. The current one was 19%, from the top to presumably this local bottom. Back then, it was 18%, followed by a 62% retracement, before the next plunge. So if this retraces to 4800 CNY, and then crashes again... In the meantime the correction rose to almost 30%. I find this supportive of the "crazy" scenario (or a variant of it) that was scoffed at by fellow EWers. |
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THE PUMP FOLLOWS. Massive pump this one. COuld take us to $850.Im happy.HOLD!!!China Buying Sparks Bitcoin Surge http://www.wsj.com/articles/china-buying-sparks-bitcoin-surge-1464608221Paywall because of direct link. Google it to read. Copy paste of the article: Chinese investors are pumping up bitcoin again, sending prices up nearly 16% in the past four days just two years after the country that was at the center of a boom and bust in the crypto-currency. The four-day surge in bitcoin since Friday has added $1.2 billion in market capitalization for all bitcoin in circulation, according to data from blockchain.info. On Monday, prices moved up as high as $525.49 per bitcoin, though that’s still well below the all-time high of around $1,151 in November 2013. ENLARGE Chinese bitcoin exchanges have been operating despite past efforts by Beijing to curb trading in the currency, which is not subject to any central authority and which can be traded almost instantly across borders. Huobi and OKCoin, two Chinese exchanges, now collectively account for some 92% of global trading in bitcoin. The surge in bitcoin buying this weekend could be the latest sign of how Chinese investors are moving money between asset classes quickly in search of high returns. In the past year, equities, bond and commodities markets in China have in turn seen massive surges of new investing, often followed by a collapse in prices as funds have moved elsewhere. “There’s a lot of hot money in China that has to go somewhere,” says Du Jin, chief marketing officer at Huobi. Huobi has seen a surge of new registrants in the past one month, he said. Expectations that new supply of the virtual currency will decrease next month could also be behind the latest price surge. The creation of bitcoin via a complicated computing process called “mining” gets more challenging over time, thanks to a mechanism which cuts the number of bitcoin that can be created in half every four years in order to limit supply. ENLARGE But industry participants also say a number of China-specific factors are also in play. Stories of scams in peer-to-peer financing have sent Chinese investors familiar with the most innovative forms of investing to bitcoin specifically, says Huobi’s Mr. Du. The bitcoin network, composed of traders around the globe accessing virtual platforms via their computers and the Internet, also allows a discreet way for a Chinese to move money beyond the country’s tightly-controlled borders. Bitcoin currently trades at a 7.2% premium when priced in Chinese yuan on mainland bitcoin exchanges compared to counterparts pricing the currency in U.S. dollars, according to industry tracker Bitcoinity.org. ENLARGE This premium in Chinese prices has persisted throughout the year, suggesting that demand from the country has accounted for much of bitcoin’s recent gains, says Zennon Kapron, founder of financial technology consultancy Kapronasia and author of a book on bitcoin. Investors are worried about the decreasing value of the yuan and “it seems that China is leading a lot of the movement,” he adds. “People are protecting their investments [by converting yuan into bitcoin].” The is a count from which a top of 850$ very soon could have been guesstimated, but IMO it's overly optimistic. So far the Chinese new fiat has topped, remains to be seen if more fresh Chinese fiat will enter. But the spike mobilized western bids, which are dumped upon. New accounts mean IMO weak hands, they didn't buy to hold for months, there is some quick profit for them to make and most will realize that profit. sentiment meter says we're due another leg up. I'll be honest, this looks like it could get to $850 Mainstream media is already hopping on board the halving supply band wagon. I think you are concentrating too much on organics. Yet, this price rise is speculative due to halving, China etc. I was wrong about many things, but I think I got this right, THEY ARE WEAK HANDS!  |
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