Nights Watch by Afrikoin

[Afrikoin]

[Afrikoin]

Time to dump #bitcoin... technicals looks weak, global markets on verge of significant drop

http://www.btcanalyst.com/

https://twitter.com/PaulSproge/status/699600649802158080

[Afrikoin]

David Stockman's Bloomberg interview - Japan, stock markets, oil, banking crisis & more

https://www.youtube.com/watch?v=6UEgsj9UhvM&feature=youtu.be

[Tzupy]

...
About 3 weeks from now the MtGox trustee is supposed to present a new report. I expect him to announce the auctioning of the 202k coins.
...

Nope... The trustee has investigated a large part of the BTC claims, but no word on distribution yet, let alone an auction (if BTC distribution not permitted by judge).
So we don't crash today, so disappointing... I am expecting this uptrend to continue a bit, run out of steam, then test support at 300$.

[koryu]

"if anyone here likes to follow certain peoples charts, I have just upgraded the Stakepool website to feature some of the more popular charters, you can view them here:"

https://www.stakepool.com/users

https://www.reddit.com/r/BitcoinMarkets/comments/45iml6/daily_discussion_saturday_february_13_2016/czy7ypp

the site is pretty cool :-) just one have to be careful now what to post in the tv chat now 

also leaving a chart here, 12h looks really amazing, especially the difference between bear and bull movements, question is if we can increase the momentum each leg and where this tops out, my medium term target for btc-e is 460

[Afrikoin]

Bitcoin Reality

QUESTION: Mr. Armstrong : Since you have deep knowledge about coins and currencies going back to ancient times, it would be really helpful to get your view of what Bitcoin is or could be as a sort of “World Currency”. Is it a fad or something that should be taken seriously?
Thank you – BH

https://www.armstrongeconomics.com/qa/bitcoin-reality/

[slap]

this thread rocks!

well.. it actually does. Thanks.

[Afrikoin]

 "$440-450 is my upper limit. Beyond that and I will be long term bullish on bitcoin... I am still bearish for the majority of 2016"



https://twitter.com/PaulSproge/status/700165627277897728

[Afrikoin]

[Afrikoin]

[Afrikoin]

Well, looks like we finally have some form of sanity on a path to improve the protocol (Bitcoin)

Based on the above points, the timeline will likely follow the below dates.

    SegWit is expected to be released in April 2016.
    The code for the hard-fork will therefore be available by July 2016.
    If there is strong community support, the hard-fork activation will likely happen around July 2017.

https://medium.com/@bitcoinroundtable/bitcoin-roundtable-consensus-266d475a61ff#.p469kvcr8

Does this mean no New all time high till after the soft fork and hard fork?

Any opinions on what this means for price?

Also, starting to think this week's rise may have been some insiders buying the news before it came out, and dumping this  week on irrational buyers.

[Wandererfromthenorth]

Well, looks like we finally have some form of sanity on a path to improve the protocol (Bitcoin)

Based on the above points, the timeline will likely follow the below dates.

    SegWit is expected to be released in April 2016.
    The code for the hard-fork will therefore be available by July 2016.
    If there is strong community support, the hard-fork activation will likely happen around July 2017.

https://medium.com/@bitcoinroundtable/bitcoin-roundtable-consensus-266d475a61ff#.p469kvcr8

Does this mean no New all time high till after the soft fork and hard fork?

Any opinions on what this means for price?

Also, starting to think this week's rise may have been some insiders buying the news before it came out, and dumping this  week on irrational buyers.

I think it doesn't mean anything for price. Price doesn't move because of news, as always.
The recent pump (or the general uptrend of the last few months which I think will continue) has pretty much nothing to do with this whole classic - core thing.

[Afrikoin]

Bram Cohen (Inventor of BitTorrent) : What is the state of Bitcoin in 2016? answer on quora

https://www.quora.com/What-is-the-state-of-Bitcoin-in-2016/answer/Bram-Cohen?srid=ijD8

"That said, fundamental problems remain and are if anything becoming more clearly fundamental."

"As a technologist all these problems are fun to work on, although they're worrisome if you're an investor or potential user"

[Afrikoin]

Well, looks like we finally have some form of sanity on a path to improve the protocol (Bitcoin)

Based on the above points, the timeline will likely follow the below dates.

    SegWit is expected to be released in April 2016.
    The code for the hard-fork will therefore be available by July 2016.
    If there is strong community support, the hard-fork activation will likely happen around July 2017.

https://medium.com/@bitcoinroundtable/bitcoin-roundtable-consensus-266d475a61ff#.p469kvcr8

Does this mean no New all time high till after the soft fork and hard fork?

Any opinions on what this means for price?

Also, starting to think this week's rise may have been some insiders buying the news before it came out, and dumping this  week on irrational buyers.

I think it doesn't mean anything for price. Price doesn't move because of news, as always.
The recent pump (or the general uptrend of the last few months which I think will continue) has pretty much nothing to do with this whole classic - core thing.

I disagree. Unless you are a day trader.

For a 6 month + investment period, this is bearish for price. Have a look at Brian Cohens answer above. The fundamental problems are REAL and need to be resolved before any sort of take off/ moon.

I am confident these problems will be resolved, but I think these problems matter NOW for supporting price levels.

[Afrikoin]

Happy that you guys enjoy this thread.

I have the resistance at ~450 as well but I am not sure where this will bring us before it happens.
I remain comfortable with the general direction of the market:



A noticeable retrace touching the simple moving average (support) would not surprise me, but then again things are looking good on every time frame so I hold onto my long positions. I don't think that I can be of much help for predicting exact prices/targets. I will update as I learn more.

I also enjoy the sharing of ideas and analysis by others so thank you all for your replies.
More good reads: Nights Watch by Afrikoin and PnF TA.

(BITCOIN PRICE INDEX $439.12)

[Afrikoin]

[Afrikoin]

[Tzupy]

^^^^^
So DanV is bullish... I hope this falls in line with his usual tendency to be too bullish.
I still believe that testing support at 300$ is required, even in a larger bullish scenario.

[nanobrain]

Reassuring to see the classic Chessnut chart (bullish to infinity) which was as accurate as usual.

@Tzupy - agree although I think I little higher - c $350 - but hey....

[hdbuck]

this pump has just been the typical "buy the rumor sell the news" hype.

downwards from now.