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Not long until we move up IMO.
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It would be nice (for the bears  ) to see a 4k dump soon, the wall on bfx asks for it... Just don't look at the order book and see what a 4k buy does.. |
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The move up from $152 is not impulsive, so it would not be agreed upon by ew'ers at all that the bottom is in. In fact, the only one that I know of who believes the bottom is in is that one guy who really doesn't know how to count (or pretends like he can't). I think his name is user1trillion or some shit
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I'll try to explain why I find it not impulsive: the first pump of January to 315$ looked somewhat impulsive initially, but it didn't hold, it deflated very quickly. In an incipient bull market, it should have lasted close to it's top for around 10 days. The second pump of March failed to reach higher levels and while it lasted longer close to it's top, it deflated too deep to allow a third pump, that would break 315$ resistance and make a decent case for an incipient bull market. If the fundamentals would change, some new demand for bitcoin would appear, then breaking 315$ would be possible, and after a correction, we would see a new ascending trend. But recently the market failed to reach my target of ~270$ while being seriously overbought, so now I'm only expecting sideways (which may include a 15$ pump) then down a lot. I am not sure how much the last capitulation will take, I hope not much longer than 6 months. The problem with that Tzupy is a single 20 dollar pump tomorrow negates everything you said. Sure the price could drop down into oblivion, but it is far closer technically to breaking out. |
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The problem with tarmi-fud is that his fud is so bleeding obvious that it can lead to fear, uncertainty and even doubt.
I would disagree. Obvious BS in the face of a rising price incites nothing but ridicule. He hasn't revealed any trades in a long time for some reason  |
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I have the log downtrend line at 262. Which is currently a paltry 4200 coins away on bitfinex.
It is just a matter of when the price moves up now IMO.
Btw who in their right mind leaves btc to be lent out short at 0.008% a day? lol
How can I see the log downtrend ? Could you tell me more about it please ? This is the resistance we are facing, right ? Go to bitcoinwisdom.com. Choose the logarithmic price option. On 1week connect a line from the all time high downwards. Change the mode back to linear and you will see a nice bendy line curling downwards. Zoom in to a smaller time mode and you can see that it today is about 262. |
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I have the log downtrend line at 262. Which is currently a paltry 4200 coins away on bitfinex.
It is just a matter of when the price moves up now IMO.
Btw who in their right mind leaves btc to be lent out short at 0.008% a day? lol
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$560,000 bitcoin with a 3600 daily mining reward means that the bitcoin mining industry alone would be a $735,840,000,000 per year industry. In 2007, the annual worldwide gold production was 2500 tonnes (80 million ounces) worth $54,000,000,000 at $675 per ounce. ( http://www.gold-eagle.com/article/tiny-size-gold-market) So bitcoin's mining industry, after 6 years of existence, would be worth over 13x (735,840,000,000 / 54,000,000,000 = 13.63) the WORLDWIDE gold mining industry. Over 13x. Think about all the mining companies in Alaska, Russia, China, etc. All worth 13x less than the BITCOIN mining industry. That's the kind of crack that we're smoking here. You don't seem to understand the difference between a temporary bubble induced price and a sustainable long term price. It is perfectly possible for the exchange price to rise far higher than the mining costs or drop far lower than existing mining costs. You also seem to be under the delusion that the block reward will be 3600 coins forever when in fact it is falling exponentially. Less crack, more reading old chap. |
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Bears have been wrong for six months.
Yeah, I know: Short squeeze is coming. (3. Inca 31,14 - 15) ...one day. Did you miss the collapse in shorts last week? Or the price rise from 220 to 259? |
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Bears have been wrong for six months.
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Really. Start shorting now. Thank me later. Target is 230 next week, and 220 after.
Instead of advising others, you should let them know what you are doing.  Regretting not buying in at 160 probably. |
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Shorts up to nearly 22k and still rising...
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seems the poll is heavily leaning bullish..... makes me think the opposite will happen.
Historically speaking the highest poll vote is more often wrong than right. If the top vote is for going up >300 then it will probably either go up less than that, sideways, or down. yeah, usually most people are wrong. it's the same often when you look at forex commitment of traders -- kind of like a bfx swaps for forex. most retail traders are always on the wrong side of the trade. 30 million dollars of retail? Like the 10,000 coins on the bidside is retail? |
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hmm, this rally looks pretty strong off the $240 lows. anyone think we've bottomed here, onto test the $259 highs then? Afraid its wishful thinking. Seems like pump ran out of steam and we are just in the middle of a small bulltrap, expecting another pull down to 220$ or lower. Wishful thinking, we'll probably go sideways now, manipulators were testing the market after & long period of sideways. People have dumped on small profits, I now expect another period of sideways for at least a week. I could be wrong but I don't expect a fall back to the 220's, if there's any kind of move in the short term it'll be up. Several scenarios are possible. Borrowed longs are historically high which could mean either a large move upwards is coming or that a massive long squeeze attempt may occur. Similarly someone has shorted 5k contracts over the last 24 hours and they could be forced to cover for just a small amount of buying. Another theory is that the manipulator is actually shorting after wiping out the shorts during the pump and will flip the orderbook to the ask side and dump us back to 200-220 support. My personal view is that the whales who own the huge long position are accumulating it expecting the price to soar at some point fairly soon. The technicals are much healthier with that recent 259 peak. Hopefully we retest the log downtrend line and best it this time around. |
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Shorts back up to 21k. 5-6k opened below 250 and will fold with the slightest buying pressure.
Here it comes  Another 500 shorts.. |
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getting trapped again bulls?
You shorted at 259, right? Lol |
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Shorts back up to 21k. 5-6k opened below 250 and will fold with the slightest buying pressure.
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Lots of coins sold to bring us back to 240. Shorts up a fair bit. Let's see if we snap back.
I'll buy if we dip to the 230's.
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double digits first.
but you can count me in for this last round of taking fools money.
Short away big man. We keep awaiting updates from your latest successful trade! |
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Starting to get worried we're set for a dump to take us below 240. It's eerily quiet on here, just a hunch but I sense a dump. People might have been waiting for the pump from the other day to continue. It hasn't so we've begun a little dump, I think people who look for small profits might sell now unfortunately.
Dude, that pump was obviously a pump and dump, people do realize it now. Shorts have been squeezed, longs stayed at the same lvl which means that none of large players has bought a damn thing. They have just squeezed shorts and now they're obviously preparing a large dump which is gonna be pretty harsh due to squeezed shorts and tons of longs. It was just a fakeout orchestrated by chinese Williebot. You sound pretty desperate. |
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