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Author Topic: Please discuss whether this is bullish or bearish and why  (Read 2170 times)
Crypt_Current
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January 21, 2013, 07:37:29 PM
 #1



Thanks everyone

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Crypt_Current
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January 21, 2013, 07:39:57 PM
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the bigger picture

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Rothgar
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January 21, 2013, 07:47:48 PM
 #3

Neither,

It's a chart of the price in the past.  Bullish or bearish is a statement about the future.

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Bitcopia
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January 21, 2013, 09:03:25 PM
 #4

It's definitely got a bullish price action going on. But every uptrend ends or retraces and in the world of bitcoin it can retrace violently, especially when price rises too fast without much explanation. I think these price levels will be justified eventually, but right now price just seems to flying too high too fast for my taste. Final opinion, bullish bubble.

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dopamine
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January 21, 2013, 10:10:38 PM
 #5

Its call a breakout Grin

Bitcoinica still has not given me 50% of my claim of 600 BTC
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January 21, 2013, 10:38:48 PM
 #6

Its call a breakout Grin

It's called, soon there's going to be a race to the door.
hardcore-fs
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January 21, 2013, 10:43:17 PM
 #7

Its call a breakout Grin

Sounds like that stupid song.
...but you just know that the next step is going to be a breakdown... as all the idiots buying at these prices get shafted.

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ElectricMucus
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January 21, 2013, 11:04:38 PM
 #8

Its call a breakout Grin

Sounds like that stupid song.
...but you just know that the next step is going to be a breakdown... as all the idiots buying at these prices get shafted.


It's quite likely that the opposite is the case. If 17 is broken within a reasonable timeframe it should run away very quickly.
There might be a red candle tomorrow but guess what happens then? Like it or not the game is on.

First they ignore you, then they laugh at you, then they keep laughing, then they start choking on their laughter, and then they go and catch their breath. Then they start laughing even more.
cheat_2_win
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January 21, 2013, 11:37:13 PM
 #9

There are still some reservations and doubts in this forum. My guess is there is still a lot of room to go on the upside. Once everybody starts cheering everyone else to buy, then that will be the end of this bull run for me.
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January 22, 2013, 02:16:51 AM
 #10

I'm thinking that this sort of upswing generally comes with a swift crash... once I see that, I'm in and taking profit on the recovery. 
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January 22, 2013, 02:19:48 AM
 #11

I'm thinking that this sort of upswing generally comes with a swift crash... once I see that, I'm in and taking profit on the recovery. 

Youve been conditioned to think that. Was it on purpose?
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January 22, 2013, 02:20:36 AM
 #12

Its how I've made a large percentage of my profit.  Wink
Ichthyo
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January 22, 2013, 02:59:25 AM
 #13

Wow...
right now on bitfinex, people are accepting loan offers (USD for leveraged long) at 100% p.a.
Crypt_Current
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January 22, 2013, 03:07:24 AM
 #14

Wow...
right now on bitfinex, people are accepting loan offers (USD for leveraged long) at 100% p.a.

What this does mean?

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January 22, 2013, 03:09:41 AM
 #15

Wow...
right now on bitfinex, people are accepting loan offers (USD for leveraged long) at 100% p.a.

APY's on USD have been high for some time now. Maybe not 100% consistently, but I've lent a few 50+% credits out, and always above 35%. Better than any bank!


What this does mean?

It means that people are willing to borrow USD to go long, no matter the interest rate.

Ichthyo
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January 22, 2013, 03:15:44 AM
 #16

right now on bitfinex, people are accepting loan offers (USD for leveraged long) at 100% p.a.

What this does mean?

Bitfinex offers Contract-for-Difference, somewhat similar to Bitcoinica.

But, in Bitfinex, the credit for the leverage draws from users, who can place offers for loans. In the last two days, typical USD loan apy went up from 20% to over 100%

So basically people are dying just to get hold of some credit for leveraged longs.


PS: you should note that Bitfinex is relatively new and the overall volumes aren't high.
Crypt_Current
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January 22, 2013, 03:16:26 AM
 #17

Wow...
right now on bitfinex, people are accepting loan offers (USD for leveraged long) at 100% p.a.

APY's on USD have been high for some time now. Maybe not 100% consistently, but I've lent a few 50+% credits out, and always above 35%. Better than any bank!


What this does mean?

It means that people are willing to borrow USD to go long, no matter the interest rate.

 Cheesy Wink Grin Smiley

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evolve
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January 24, 2013, 08:47:32 PM
 #18

I'm thinking that this sort of upswing generally comes with a swift crash... once I see that, I'm in and taking profit on the recovery.  

Youve been conditioned to think that. Was it on purpose?

aaaaaaaannnnnnddddd there it is.


Im in.
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January 24, 2013, 08:56:37 PM
 #19

I'm thinking that this sort of upswing generally comes with a swift crash... once I see that, I'm in and taking profit on the recovery. 

Youve been conditioned to think that. Was it on purpose?

aaaaaaaannnnnnddddd there it is.

I think this wasnt the dump yet. We are just back to where we were at the time of this thread.
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January 24, 2013, 09:02:15 PM
 #20

I don't really care about what the USD/BTC price is,  I care about the amount of movement in the price...with an overly swift price raise (which will be followed by correction), I get in as close to the bottom of the correction as possible and then take profit on the bounce.


wash. rinse. repeat.




Will there be another dump? Probably. I should be back in USD by that point though (ready to do it again)....if I'm not, I have clear exit points to minimize any loss of profit.



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