Head and shoulder forming, long term bearish, short term also bearish.
how long is long term? do you see bitcoin ever rising again? are we going to 0? I said earlier, everything below ~260 looks good to buy in long term. Like everything below 10 was good in 2011. But time frames now wider. I think, that clears everything up, no price spikes yet. |
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Any update? I am one ear.
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Any update on situation at hand, guys? Opinions?
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Wow, the market has been remarkable slow (boring) for the last few days. You can tell by number of people, who forgot they are in wall observer thread.
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My point is that if you sold at $160 and now its at about $230, it was not a good idea and in fact a huge loss. The price appears to be stabilizing around the $150 to $250 range.
When we hit 120 in the second half of february, you will feel like an idiot  what matters is only the end game ie. how widespread and worthy will bitcoin be in the next five years. |
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Bulkowski on the 'shooting star': Day traders that I know depend on the shooting star more often than I think they should, but my statistics are based on the daily charts, not intra day ones. I found that the shooting star candle acts as a bearish reversal 59% of the time. I consider that "near random" performance. http://thepatternsite.com/ShootingStar.htmlBut that's his result for traditional markets. Possible that in BTC, shooting star is a better predictor. , though, as we didnt leave bear market in the first place. It could be merely continuation signal for existing trend. |
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Could this be valid count? Too soon?  EDIT: Upper line is not random, its based on MasterLuc bearish trendline, that was unbroken since december 2013. |
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Now is the time to buy, considering that rumor says the webwallet is out in 2 weeks..
How reliable is the source of that rumor, if I may ask? |
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That last blue line is simply hanging off one candle. Shouldn't trend lines have at least two points of contact?
I updated the chart, is it more accurate ? Anyway it's just an alternative, I prefer the bullish version posted above  The bearish chart will be invalidated if we cross 370 Wrong. There is no volume. |
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do you honestly think that Hackers would tell you if they are behind a attack ? Grow up man.
Can you even read?
The chain with 1.1 diff will make 12000 first.
I'm going to pull off the other chain and consolidate everything I got on the chain Cryptsy IS NOT on to make it to 12000 first.
Told those bastards not to ban me LOL
~BCX~
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I'm really, truly disappointed with BCX. I've been following this story the entire time, and DDOSing an exchange(Poloniex) along with extorting people(Monero devs) is illegal. This behavior is really childish and sad...
Don't worry he's bluffing. I tend to agree, why expend energy on DDosing, when you are supposed to be able to destroy its bloodflow (XMR). |
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BCX, was that you in the polo chat under a different name?
For the record I did not DDOS Poloniex. If I did I promise you I would have told you. I have nothing against Poloniex and have no interest bothering them. As was pointed out by a few other posters, this is not my style. More than likely some poser that was going to try and get some coins out of you. None of this meant to be a hostile action, I just want to see if XMR can fix their holes. Anyone can knock down a coin by hitting an exchange. No fun in that. Believe what you want to believe but anybody that has been here for any time knows, that wasn't me. ~BCX~ Uh huh. It reminds me of last week, when you claimed, you have no intention of attacking XMR or its users, remember?  You really are a present arent you? Wrapped up in nice silk on the outside, piece of malicious shit under. |
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I do remember rpietila specifically recommending some fairly conservative ratios with regard to speculations in XMR vs holdings in BTC. So many of these people who have seemingly gone 'all in' have done so against the advice of people they're supposed to be following.
True, I remember that. I think the number was something like 40/1 but I might be mistaken. It was definitely a recommendation to keep your XMR exposure limited relative to BTC and also I think to keep your BTC exposure limited as well. It is funny how people cherry pick the quotes they want to make a point and ignore others. I expect that things will calm down with regard to Monero rhetoric after all that has happened in the last month. The amount of drama has been unparalleled and spawned zealotry on both sides.
I hope you are right! People should always remember that many of the people they follow are already wealthy individuals who can afford to lose. Just because they speculate on something doesn't mean that you should too. Everyone needs to be in control of their own personal financial situation and take some responsibility.
Well said, especially the part about other people you may follow being wealthy and not to be copied by others in a very different position. Nice post! The fact is risto made a colossal fuck up in predicting 1 Million USD BTC price within 2014 to his followers before he was involuntarily detained in pyschiatric facility in finland. (He sold before the peak) Now he is again in his manic phase- he predicts XMR will go up a thousand times. Surely he will be back in padded cell again soon, not before dumping his load all on unexpecting noobs Risto could buy all XMR in existence with his stash of BTC, you dont know what you are talking about and should ask for return of money for your 101 psychology course. You failed. |
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I have very strong feeling, that couple of months from now, we will simply laugh about current situation. Another opportunity to make this (still fresh) currency more robust.
I am not selling under 0.01 XMR/BTC.
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From the rpetlia altcoin observer (felt like it deserved it's own unmoderated thread) XMR generates 1440 blocks a day, it needs about $40k injection a day to keep the price stable. The coin is not adopted/used widely. The only out of exchange transaction I know of is one guy paid XMR to an artist and the artist paid rent to landlord. This is yet ANOTHER reason this thing is a walking time bomb. You have no idea, what you are talking about. 1) 20k coins are mined every day now. With current price level, that would require just under 30k USD a day to keep the price stable. 2) Above would be applicable ONLY IF ALL MINED COINS WERE SOLD all the time by miners, that is not the case with monero, or litecoin or bitcoin for that matter. 3) For the above reasons, steady flow of 40k per day would actually initiate price spike (ie bubble), not a stabilization. |
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If this is indeed FUD, then we are witnessing market capitulation with strong rebound pending...
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Most Monero investors at this stage are seasoned cryptocurrency veterans I believe. I doubt many will panic sell over a fork.
If this was DogeCoin circa Feb., 2014, with a lot of relatively mainstream involvement, it might crash. Monero, OTOH, hasn't even broken the top 10 on coinmarketcap.com yet. We may as well be a fringe enthusiast cult.
Actually, that exactly what we are right now any ideas on when XMR will be unfrozen? EDIT: Drawingthesun is right, so what, if majority of XMR holders are bitcoin veterans? Same can be said about virtually any other crypto, that doesn´t preclude volatility, especially in market this small. I´m still very bullish on monero, just not short term. |
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There is an absolutely perfect 50% retracement just put into place in Poloniex: from 0.00510000 to 0.00400000, with previous bottom at 0.00290000. This means that regardless whether we just hit a mid-move bottom (which in this case will not necessarily ever be visited again) or a downward resistance that will be breached later, the next move is resolutely UP, and the fibonacci possibilities are:
38.2% = 442
50% = 455
61.8% = 468
76.4% = 484.
If these are cleared, it is good possibility that this was a bear trap in large proportions. If the price turns down from these, we may be in a downtrend going ultimately to the 175-231-290 line, which could mean a bottom in the 330-350 range.
Bearish scenario is unravelling for Bitcoin, so far, no ALT was ever able to resist cash flight in such circumstances. I believe XMR will recover (and reach new heights) only, when BTC resumes its growth. We are talking weeks, not hours. |
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Perhaps a self-moderated topic is the way to go next time.
Maybe you can make a new speculation thread and we let the moderator close this one? To much trolling going on here.. Low volume today worries me a bit, maybe it's just the calm before the storm It might be good signal, volume is usually low before triangle breakout I am betting we are breaking upwards. |
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Less economics than speculation, but...
I am calling a bottom on Monero (BTC/XMR rate).
- I already predicted in a certain speculation group about 9 days ago that the bottom would be Sunday, Aug 17.
- Now I am not sure if it will be yesterday or tomorrow, since there is a compelling case for tomorrow also: in 2014-8-19 it will be 37 days from the last bottom, which also was 37 days from the previous one. The lowest prices are aligned at 175005 sat, 231500 sat, and (so far) 290000 sat. The difference between the first ones is 56495 sat and the last ones 58500 sat. There seems to be a cosmic tendency towards symmetry here, so a dip slightly below 290000 may happen tomorrow, but if so, it must be before the market participants start bidding the price up.
- During the dip to sub-3, only 14k moneros have so far been transacted sub-3 (Poloniex). Nobody seems to have much urge of selling them so cheap.
- Of course I know the market dynamics that are causing Monero (which fundamentally is a beneficiary of Bitcoin's troubles) to be double-hammered (in USD/BTC and BTC/XMR both tanking). I just believe that it is over and if not, then it might make sense to buy, if your position is so small that it is possible with the meager depth offered.
Thank you, sir. Interestingly your prediction coincides with that of Aminorex, who thought, that rally will start around august 20th. |
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