Have to give it to you jbreher..you got a set on you. Still in here slinging whilst this bchcoin shit show is still happening.  Props..

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Bitcoin

Just a quick post to put up a hourly with some fib targets on it. I am seeing some shorts starting to accumulate on Bitfinex..again. Would like to remain bullish..however...I still believe $5k or lower is coming before the rebound. I am looking closely at the 0.618 levels on both sides..breaching either would be a clear signal obv. #dyor #btfd

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#stronghands2019

Sup info...
Yea..already feeling pretty blue in the face with this long slow slide. If we are not at the bottom, I do believe its nearly within sight for whatever that is worth..



I concur.  I have this gut feeling that 5k needs to be tested before we can swing back towards bullishness. #dyor

Good morning all.

Haven't been in the "groove" lately... I feel disconnected with the market somewhat so have been in the mindset of if you don't have anything positive to say..say nothing at all.

That being said..this bcash fork has been something to watch. All I can say is karma can be a bitch..
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Bitcoin
I believe this weekend will bring some more capitulation. Monday could be ugly for all markets..have to ride out this storm. I do see a slight bubble trying to form on Wednesday for a possible Thanksgiving retracement. Not hodling my breath however.

We have broken underneath what I call the prevailing upwards channel for the first time. I think it might take quite awhile for the market to stabilize after this drubbing. Looking towards late summer of 2019 for the reemergence of the Bulls.

I must say I am intrigued...however..I must ask..  Are there PANTS that go with these? If so..a must have item.

p.s. Howdy Mic...hope you had a great summer.  Any winners yet on those games?   

#stronghands

Well hello there..

It's been awhile hasn't it? A quick check on the chart is in order no?

Declining market sentiment and volume has dominated the 3rd quarter of trade leaving bitcoin in a narrow channel. This channel is about to run head on into a historical zone of bitcoins highest volatility and price range.
What this means for the end of 2018 is probably the question on everyone's mind right now. Conventional wisdom would indicate a Bull run might be in the offing...I am not convinced that is the direction we will see this year.
Is predicting a continuing Bear market for the coming year out of line? I think it is about a flip at this point which way it might play out.
Regardless...I am still bullish long term. #dyor


Tomorrow marks 10 years Bitcoin has been out in the wild...imagine what the next 10 will bring.  
Happy Birthday Bitcoin.

Nope..this is as good as it gets for awhile from what I see. #dyor

Little exit pump before the daily close...maybe. Seems the algo's are getting smarter and moving opposite indicated market direction. Welcome to the Dungeon of Despair everyone..  Roach..turn off the lights when you leave.

Have you ever heard the saying there is no bad advertising? Every time you engage with these supporters of alt coins..in a bitcoin thread.. its exactly like that. Just my two sats.

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Good morning all.

1h
Ship leaving the port locally.


4h
Institutional sell off early on the 26th between the 0.382 and 0.5 fib?  Looks very controlled to me.


D
Possible spinning top on the daily.

#hodlingtothegatesofhell

More potential upside on the short term scale. #dyor 

Feels like the panic is fading. Moral is improving.

Modified Schiff fork


The big banana of 2018

#stronghands

Good morning all.

Not sure if you all follow Andreas on YT but I really enjoyed hes latest video.
https://www.youtube.com/watch?v=3Ck683CQGAQ

Its still in alpha but I am checking out and I like the Samourai wallet. #dyor  When combined with a vpn it is pretty darn nice.
https://samouraiwallet.com/index.html

The down trend continues with bitcoin. Where will it stop? According to some, the price decline this month has been caused by hedge funds closing out their yearly lock up positions.
https://cointelegraph.com/news/hedge-fund-sell-offs-could-artificially-lower-bitcoin-prices-predicts-blockchain-vc

While I think there might be some truth to this, I also believe there has been some "front-running" in anticipation of a market decline. Meaning people in the know leaving the market early to avoid this slump, which in turn lowered the price farther. A domino effect if you will. From a technical view, there is nothing to support the price moving downward. Its all fundamentals and sentiment at this point. I will also add that its extremely frustrating to watch the market continue to slide when everything indicates the price should go up or at least remain relatively stable. Everyone and their brother appears to be long at this point..which tells me the market might dip some more to shake out weak hands.

Good evening all.


Couple things of note.

1. Binance is down for a few hours for maintenance. Estimated time down was 4 hours I believe. Trading and withdrawals are suspended during this time.

2. GDAX is leaving us and will become Coinbase Pro at the end of the month. Its worth mentioning that API support will continue until the end of this year but migration to the new CB Pro API is recommended.


Not really news but I thought I would share. Kinda sad about GDAX... I have enjoyed the robust platform it brought to trading. Of course the new site is still using the same backend and its really just a new name but..change is always difficult for me.

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Bitcoin

The price continues to hover in the $6.2k range. Sellers appear to be exhausted for the time being as we slowly recover from a new yearly low. Volume is shrinking and indicators are still at the lower end of their range suggesting a spike in price might be approaching. On the daily chart we are still well below the moving averages with a $350 spread to reach that apparent resistance level. Many..myself included are probably sitting on the sidelines waiting to see what the close of futures on the CME bring us on the 29th. #dyor

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Good morning.


+1 WOsMerit


An arbitrary overall bottom line following bitcoins arbitrary uptrend.

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As it has been mentioned, this "rally" is most likely caused by shorters reinvesting profits into bitcoin. High probability of being close to the local top for the next couple of months. #dyor

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M




 

Good afternoon all. I had some things come up today so no HNWI article as of now. Maybe later tonight I will get time to put down some more thoughts. I will leave you with the basic premise.

There are over 17 million HNWI's with combined assets totaling over 70 trillion. How many are invested in bitcoin? How much have they invested. How many more are interested in bitcoin but have yet to invest? How much of their assets would they be willing to risk in the nascent bitcoin industry? What could the bitcoin community do to attract such investors?

While many advocate a grass roots type of adoption, e.g. millions of small investors to drive the price upwards, it will most likely be HNWI's and institutional investors that lead the way towards new ATH's in the shorter time frame.

Something to think about.


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Bitcoin

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Sometime Tuesday or Wednesday might be a good for a short term buy..other than that I am looking at mid September. A breakout above this downtrend line would change things obviously. #dyor


141.1 billion+ today,  212.5 billion by mid December of this year. SOOMA(think this is trademarked so..)

D



Something I am working on for tomorrow. HNWI's and bitcoin. Good night all.


#stronghands

How would you characterize it Jay?  You do realize a market maker is an actual position right? Its not advertised per say but each exchange has a individual or entity that fills this position and "makes" market prices and insures liquidity. Please note I did not say "the market maker".. e.i. meaning one over all, I said the maker "at" Bitfinex. To the best of my knowledge there are about a couple of dozen or so "makers" that drive market direction in bitcoin. Also worth mentioning is that there can possibly be more than one at any given exchange.

Bitfinex tends to "lag" behind other exchanges, resisting upwards AND downwards price movements until resistance or support is broken. Then explodes quite spectacularly one direction or the other.

I have no first hand knowledge of this other than personal observation..so you can take it as anecdotal evidence.

I will also add that recently Bittrex send me a email regarding fiat deposit/withdrawal options for a pilot program they are starting. In the application I could have requested "maker" status if I had so chosen. It does not mean I would have been accepted..that has to do with your trade activity, deposits and withdrawals and several other factors.

Ok kiddo..enlighten me with your sage advice. What do you perceive to be the root cause of this downturn? Can you and will you take the time to write down and post your opinion in a concise and thoughtful manner here? Or shall we continue to see ad hominem thrashing about to make yourself feel better?
You know where the ignore button is.


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Bitcoin

Sideways followed by a late Sunday early Monday dump seems to be forming.

#dyor

Come at me with something better jojo..weak sauce.

-1 WOsMerit

Good morning all.

Bitcoins price continues to edge downward without apparent reason. The market maker at Bitfinex appears to be the one forcing the price lower. Where will it stop? What are the motivations behind this? It seems a risky way to accumulate more coins. Literally groping for pennies in front of the proverbial steamroller. Sure..you can increase your pile of coins but what is the use if the price declines? Your stash will have perhaps less value in fiat at the end of the day the longer the price drops. Just seems like an ass backwards way of doing things.

Even the promising news of MtGox entering civil rehabilitation has not turned the market sufficiently imho.

Meanwhile, interest in bitcoin is declining at the institutional and sovereign levels. This is what concerns me the most. All the worlds a stage and bitcoin is front and center with many many interested parties. Literally trillions of dollars sitting on the sidelines trying to determine if this really is the next big thing. The continued shenanigans prevalent in this space are counter productive to say the least. Makes me wonder if this drop and the loss of billions in market capitalization was really over a $10k bet. If so, the increased audits, subpoenas and surveillance would be well earned.

I will add that trying to keep things in a positive light when the majority of you around here are negative nancy's is taxing on many levels.
-1 WOsMerit for the lot of you. "We" set the bar around here...time to raise it again.

@Roach  btw, I caught that post before the edit. Careful now, would ruin the image to let some humanity show..
 

info's bottom is better..however..here is some fib targets. Still looking at a increase as the month closes out. #stronghands

4h