it's quiet. toooo quiet. -===-  |
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the price seems to be holding its breath as every technical indicator known to man approaches 'neutral'... something's coming. good luck bolls and bars. it's up to you to decide what happens next... maybe i should add a poll? UP or DOWN? -===- it's quiet. toooo quiet. -===-  EDIT: added to the OP |
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I predict it'll go up, idk how high, but it'll come back down a lot.
that's prophetic |
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OK, it bearly touched 83 and bounced.
 -===- best guess: $100 is a short-term top. doesn't seem like we have the oomph right now. if $80 holds on the bounce, bull sign. otherwise this might really just be a drawn-out bulltrap. after failing to break $100 yesterday, i'm starting to fear if $50 is really the bottom... |
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Just over half the volume traded of the previous day but a clear, massive bullish sign.
low volume == bulltrap |
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looks like the bulls are running!
95+
Failed to hit 100. Double top? maybe. or just consolidation. bid side looks strong but ask side has also filled up with people ready to unload. tons of selling pressure, it's up to the market to decide whether or not $100 bitcoins can really be taken seriously again. |
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It doesn't make any sense to use BTC in Africa as BTC requires stable Internet to operate.
Nobody thought of that?
are you under some impression that the entire continent of africa is tribal bushmen?  |
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Kinda bouncing
[chart]
lucif, that candle just opened. you can't call this a bounce yet. with this momentum we could break right through. and by my models, we will. i saw this from $80. are you short? haha. either you're being intentionally misleading or your position is biasing you. wait 50 minutes then tell me we've bounced. |
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Well, uh, *cough* you could always buy back in. *cough*
its already too late. we're breaking out.. was trying to tell you guys earlier... |
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Yeah, I extrapolating that line also, figured we'd be in the 80s for a number of hours. It has been hitting and climbing that moving support like a staircase for over a day now with no trouble at all. It look a jump up to the 80s and I'd imagine when it lands on the support it'll continue its climb.
that's what just happened. the selling pressure is immense but we're resting delicately on that moving support. i'm really confident in this market, the bid side is showing a lot of strength for the first time in weeks. |
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if we extrapolate the moving support... -===-  -===- ... it seems if we don't move out of this range in 5 hours we'll collide with it, and then the market must decide. |
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babby's first rally, a photo album: -===-  =  =  -===- ... the last picture being the most recent. i've heavily annotated this last one to point out some evidence for the OP's prediction. the white line in each of the images is the moving support. the PVT in the OP shows a different triangle formation than the price, though. the yellow line in the last image indicates the top of the price triangle, the purple line demonstrates the falling volume, and the yellow circle appears to show a bullish breakout. so the price has already 'broken out' of the smaller triangle formation, and is now struggling to make the bigger, more important move which would break its PVT out of the mid-term downtrend. |
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while we definitely are still in a medium-term downtrend, it seems like the volatility left in the wake of the monster knife is enough stage for a mini-rally. from a zoomed-out view it looks like a bulltrap, BUT, on the 30-min scale we are incredibly oversold. based on the PVT: -===-  -===- ... it seems we are on the verge of a very important breakout. the bid side looks deep, obviously encouraged by mr M's fat $70 wall, and the indicators are temporarily bullish. i think we're going up in a big way, at least to $100. |
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to all the newbies drawing trendlines and triangles -- just some tips:
1. you need at least two points of contact. a line is defined by two points so you can draw any line you want about one (this is not rigorous enough, obviously). further, if your line only has two points of contact, it is not as robust as a model that has more.
2. sometimes wicks (shadows) contain outliers. try to imagine the distribution of the data and draw lines accordingly -- it's TA, not connect-the-dots. beware of apophenia. just because you see a pattern doesn't mean it's a proper, predictive, or particularly robust model.
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we're still technically in a bear market. i'd advice against throwing caution to the wind for at least a few more days |
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30-min PVT says something big is brewing... -===- -===- this is the decisive moment... the only question is -- up or down? |
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If you are going to sell. Sell in small increments over time. Not all at once.
If you average your price over months you will get a better deal more than likely.
this isn't as much of a winning strategy as it is a hedging strategy. say you're going long: you can dollar cost average all you want, but you won't be able to consistently get a better price than your first price. however, you're more likely to get a better price if your first price is higher-than-average. |
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Nope, it's crashing upwards now  it's hilarious how perfectly sentiment lags price. when everyone was all doom and gloom, this rally was born. now that everyone's on board, it's topping. short term top at $8x.xx selling pressure, ON! |
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the main misconception here is that the total hashing power of the network corresponds with how quickly bitcoins are mined.
Nah. There were a couple misconceptions in the OP, but that's not one of them. so difficulty will increase to silly amounts, but people will expand the asic clusters to compensate
but... Will we not run out of bitcoins to mine within 4 years or so... ?
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