Huge money waiting below...

[T.Stuart]

Just had a thought...

Has anyone pointed out just how spectacular last weekend was since it happened (I know not even 24 hours but that can be a long time in Bitcoin  )?

Do you know what surprised me? It's so easy to get into the frame of mind of:

“Weekends are quiet”

“Weekends are when the price goes down”

“Weekends are when everyone's run out of money on the exchanges”

etc. etc. etc. and all those other leaps to conclusions we all make.

I'd just like to point out that last one there: “Weekends are when everyone's run out of money on the exchanges”...

Oh?... Ho... Ho ho ho... ha ha... HA HA HA HA!!! LOL 

Wow! If you were thinking that last one then boy were you surprised this weekend eh?

The fact is, there is money, a whole lot of money, waiting just below to snap up as many Bitcoins as possible.

And we are at a tipping point now. Quite clearly those below feel like they have less time on their hands than those above. That's why the price has been rising so steadily for weeks. Simple really.

So just remember when everything looks so sleepy – there is a mountain of fiat growing below, and it's growing bigger by the day! 

Goodnight boys and girls! 

[arepo]

you remind me of me when i first started watching bitcoin and posting here.

this is so silly. the indicators were all bullish. we had an ascending triangle, bouncing off of the wall at $7.20 for days. nothing happened due to low weekend volume, one guy got spooked and dumped coins down to sub $6.90, which started panic sells and more giant dumps. Sure, we needed a correction but we could have gotten over the resistance at $7.20 and sailed to the next level before this happened easily. Notice how the cheap coins were gobbled up instantly? We won't see prices <$6.00, we're on our way up, and since the correction happened early I wouldn't be surprised if we sail to $10 before another major correction.

spoilers: we were not on our way up, and $10 didn't happen for about another half a year

--arepo

[T.Stuart]

you remind me of me when i first started watching bitcoin and posting here.

this is so silly. the indicators were all bullish. we had an ascending triangle, bouncing off of the wall at $7.20 for days. nothing happened due to low weekend volume, one guy got spooked and dumped coins down to sub $6.90, which started panic sells and more giant dumps. Sure, we needed a correction but we could have gotten over the resistance at $7.20 and sailed to the next level before this happened easily. Notice how the cheap coins were gobbled up instantly? We won't see prices <$6.00, we're on our way up, and since the correction happened early I wouldn't be surprised if we sail to $10 before another major correction.

spoilers: we were not on our way up, and $10 didn't happen for about another half a year

--arepo

He he he! 

We shall see!

[MAbtc]

I love these threads.

Seeing a lot of similarities in forum sentiment 12/9-12/10 and 1/5-1/6. Just saying.

[ablewasiereisawelba]

you remind me of me when i first started watching bitcoin and posting here.

this is so silly. the indicators were all bullish. we had an ascending triangle, bouncing off of the wall at $7.20 for days. nothing happened due to low weekend volume, one guy got spooked and dumped coins down to sub $6.90, which started panic sells and more giant dumps. Sure, we needed a correction but we could have gotten over the resistance at $7.20 and sailed to the next level before this happened easily. Notice how the cheap coins were gobbled up instantly? We won't see prices <$6.00, we're on our way up, and since the correction happened early I wouldn't be surprised if we sail to $10 before another major correction.

spoilers: we were not on our way up, and $10 didn't happen for about another half a year

--arepo

I'm confused... Do you think this anecdote qualifies as technical analysis?

[traderCJ]

Well all it takes is a glut of bad news to bring the price crashing down or a few big companies announcing their support.  These unpredictable factors are what makes and breaks this market.

[T.Stuart]

I love these threads.

Seeing a lot of similarities in forum sentiment 12/9-12/10 and 1/5-1/6. Just saying.

The past is the past! We are going to do things a little different now!

I do find all this rubbing up and down around $1000 very interesting. Seems like the number is getting firmly cemented in the collective psyche. I'm telling you this is going to be a baseline within days.

[arepo]

you remind me of me when i first started watching bitcoin and posting here.

this is so silly. the indicators were all bullish. we had an ascending triangle, bouncing off of the wall at $7.20 for days. nothing happened due to low weekend volume, one guy got spooked and dumped coins down to sub $6.90, which started panic sells and more giant dumps. Sure, we needed a correction but we could have gotten over the resistance at $7.20 and sailed to the next level before this happened easily. Notice how the cheap coins were gobbled up instantly? We won't see prices <$6.00, we're on our way up, and since the correction happened early I wouldn't be surprised if we sail to $10 before another major correction.

spoilers: we were not on our way up, and $10 didn't happen for about another half a year

--arepo

I'm confused... Do you think this anecdote qualifies as technical analysis?

mine or the OP? the answer is neither

[T.Stuart]

Mine is not TA - it is common sense!

That's the beauty - everyone has it.

And it's starting to become more and more prevalent among Bitcoin investors and speculators.

Over and out!

Goodnight! (really this time!) 

[black_swan]

Just because we had a bullish weekend it doesn't mean that weekends will always be like this.
The market is still very weak, volume was down, watch out for corrections

[arepo]

Mine is not TA - it is common sense!

bears make money, bulls make money, pigs get slaughtered.

and so-called "common sense" is what leads pigs to the slaughterhouse.