ChartBuddy
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Activity: 2310
Merit: 1801
1CBuddyxy4FerT3hzMmi1Jz48ESzRw1ZzZ
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April 03, 2014, 05:00:37 PM |
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oda.krell
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Activity: 1470
Merit: 1007
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April 03, 2014, 05:02:12 PM |
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slight trend reversal this morning...glad to see there is a little growing buy support today
Haven't you heard? It's a bull trap. The bears on this forum confirmed it. If this is a permanent reversal, why are there literally less bid sums on BFX to 400 than there was when I went to bed last night and the price was 424? It looks to me like there was a big buyer on Bitstamp and panic buying on BFX based on the comment by Houbi. I always wonder if those who see a trend reversal just have a different time frame in mind. I will start taking a reversal of the larger downtrends, say for example the one since March 4th, into consideration once we see a 6h candle close above 580-585 480-485 (23% fibo level, and EMA that I consider important). That's the earliest point at which I'll start looking into it seriously, whether it's a reversal or not. But maybe I'm just too risk adverse.
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GreekGeek
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April 03, 2014, 05:02:36 PM |
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Does anyone else feel that the 400USD Wall @ Bitstamp is actually a selling wall
How is it a selling wall When you're a bear , even the last 5k buy was in fact a 5k sell +1 Imagine you are a whale (with lots of cash and lots of coins ) and you wanted to sell your coins To reduce slippage you put a huge buying wall in a safe distance from the market price
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Guinpen
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Activity: 28
Merit: 0
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April 03, 2014, 05:04:45 PM |
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So... are we still in a bull trap or will this go to the moon already?
Next 8h~ will tell, wonder how 4h macD will form Pointing out my ignorance again, I don't understand the meaning of "4h macD". Could you please clarify? Huge thanks!
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windjc
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Activity: 2156
Merit: 1070
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April 03, 2014, 05:05:19 PM |
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slight trend reversal this morning...glad to see there is a little growing buy support today
Haven't you heard? It's a bull trap. The bears on this forum confirmed it. If this is a permanent reversal, why are there literally less bid sums on BFX to 400 than there was when I went to bed last night and the price was 424? It looks to me like there was a big buyer on Bitstamp and panic buying on BFX based on the comment by Houbi. I always wonder if those who see a trend reversal just have a different time frame in mind. I will start taking a reversal of the larger downtrends, say for example the one since March 4th, into consideration once we see a 6h candle close above 580-585 480-485 (23% fibo level, and EMA that I consider important). That's the earliest point at which I'll start looking into it seriously, whether it's a reversal or not. But maybe I'm just too risk adverse. Assuming we did just reverse - looks likes it going to be a slow grind down to 400. With a lot of panic buying along the way. There are very few shorts still out there. And some of them account for the little bit of bid sums we see anyway.
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windjc
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Activity: 2156
Merit: 1070
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April 03, 2014, 05:06:15 PM |
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So... are we still in a bull trap or will this go to the moon already?
Next 8h~ will tell, wonder how 4h macD will form Pointing out my ignorance again, I don't understand the meaning of "4h macD". Could you please clarify? Huge thanks! Its a largely low % indicator that a lot of people want to use as if its a high % indicator resulting in a large % of losing trades.
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JorgeStolfi
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April 03, 2014, 05:06:51 PM |
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Well, Huobi's note brings back the uncertainty to the "March 29" stage.
It seems indeed plausible that the banks and 3rd party payment processors that called the exchanges were reacting to the Caixin article, rather than a PBoC note.
In my understanding, the 3rd party processors were clearly violating the spirit of the December decrees, even if indirectly (through those recharge cards, which I am still not clear on how they worked). Thus the Caixin article may have been sufficient to scare them into strict compliance.
On the other hand, the banks should have been safe (again, in my understanding), as long as they treated the exchanges like any other corporate client: dealing only with CNY, without involving themselves with bitcoins in any way. So, the bank(s) that reportedly called some exchanges may have been overreacting.
Or perhaps the PBoC note was real, and did extend to the banks; but the banks may have convinced the PBoC that what they were doing was OK (and very lucrative, of course). In that case, the note would have reached no further than the bank headquarters, and the branch managers would not know about it
It is possible therefore that the price will climb up to near the level of Mar/27 in the coming days, although the remaining uncertainty must have some negative impact.
EDIT: And, of course, the loss of the 3rd party channels should have a large negative impact.
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Guinpen
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Activity: 28
Merit: 0
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April 03, 2014, 05:12:08 PM |
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So... are we still in a bull trap or will this go to the moon already?
Next 8h~ will tell, wonder how 4h macD will form Pointing out my ignorance again, I don't understand the meaning of "4h macD". Could you please clarify? Huge thanks! Its a largely low % indicator that a lot of people want to use as if its a high % indicator resulting in a large % of losing trades. Thanks
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magicmexican
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April 03, 2014, 05:13:16 PM |
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So... are we still in a bull trap or will this go to the moon already?
Next 8h~ will tell, wonder how 4h macD will form Pointing out my ignorance again, I don't understand the meaning of "4h macD". Could you please clarify? Huge thanks! Its a largely low % indicator that a lot of people want to use as if its a high % indicator resulting in a large % of losing trades. Thats not really true, it actually works somewhat well on decent intervals (combining with other factors obliviously)
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mmitech
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Activity: 1148
Merit: 1001
things you own end up owning you
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April 03, 2014, 05:15:35 PM |
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So... are we still in a bull trap or will this go to the moon already?
Next 8h~ will tell, wonder how 4h macD will form Pointing out my ignorance again, I don't understand the meaning of "4h macD". Could you please clarify? Huge thanks! Its a largely low % indicator that a lot of people want to use as if its a high % indicator resulting in a large % of losing trades. Thats not really true, it actually works somewhat well on decent intervals (combining with other factors obliviously) MACD is a lagging indicator, it helps understanding the market direction, it works but not all of the time...
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windjc
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Activity: 2156
Merit: 1070
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April 03, 2014, 05:17:15 PM |
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So... are we still in a bull trap or will this go to the moon already?
Next 8h~ will tell, wonder how 4h macD will form Pointing out my ignorance again, I don't understand the meaning of "4h macD". Could you please clarify? Huge thanks! Its a largely low % indicator that a lot of people want to use as if its a high % indicator resulting in a large % of losing trades. Thats not really true, it actually works somewhat well on decent intervals (combining with other factors obliviously) Fair enough, but in a market like this one, with a lot of uncertainty, the 4 hour MACD is a whipsaw. I wouldn't trade with it.
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adamstgBit
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Activity: 1904
Merit: 1037
Trusted Bitcoiner
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April 03, 2014, 05:19:33 PM |
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why why why do poeple dump on the pump wall
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ShroomsKit
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April 03, 2014, 05:19:47 PM |
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So... are we still in a bull trap or will this go to the moon already?
Next 8h~ will tell, wonder how 4h macD will form Pointing out my ignorance again, I don't understand the meaning of "4h macD". Could you please clarify? Huge thanks! Its a largely low % indicator that a lot of people want to use as if its a high % indicator resulting in a large % of losing trades. Thats not really true, it actually works somewhat well on decent intervals (combining with other factors obliviously) MACD is a lagging indicator, it helps understanding the market direction, it works but not all of the time... Not all of the time. Right. It's about as reliable as throwing a dice.
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silverston
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April 03, 2014, 05:22:37 PM |
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why why why do poeple dump on the pump wall sell lower, buy higher
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infofront (OP)
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Activity: 2646
Merit: 2793
Shitcoin Minimalist
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April 03, 2014, 05:22:50 PM |
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why why why do poeple dump on the pump wall This might be the highest price we see for a while.
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mmitech
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Activity: 1148
Merit: 1001
things you own end up owning you
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April 03, 2014, 05:22:52 PM |
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So... are we still in a bull trap or will this go to the moon already?
Next 8h~ will tell, wonder how 4h macD will form Pointing out my ignorance again, I don't understand the meaning of "4h macD". Could you please clarify? Huge thanks! Its a largely low % indicator that a lot of people want to use as if its a high % indicator resulting in a large % of losing trades. Thats not really true, it actually works somewhat well on decent intervals (combining with other factors obliviously) MACD is a lagging indicator, it helps understanding the market direction, it works but not all of the time... Not all of the time. Right. It's about as reliable as throwing a dice. well, I can prove that I made good profits out of that MACD so it is certainly incomparable to gambling... Edit: BTW, are you holding since April last year? that must hurt right ?
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oda.krell
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Activity: 1470
Merit: 1007
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April 03, 2014, 05:24:33 PM |
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What a useless discussion. MACD is a momentum based indicator, comparably laggier than other indicators in the same class, and it is useless, probably dangerous if looked at in isolation (i.e. if your strategy is *purely* based on the signals it gives, especially if the time frame is low like 4h), but is a very useful tool as part of a larger set of indicators that inform your decisions.
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KeyserSoze
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April 03, 2014, 05:25:17 PM |
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A fond farewell to bears. Train is leaving without you.
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MoreFun
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Activity: 1008
Merit: 1003
WePower.red
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April 03, 2014, 05:27:37 PM |
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slight trend reversal this morning...glad to see there is a little growing buy support today
Haven't you heard? It's a bull trap. The bears on this forum confirmed it. If this is a permanent reversal, why are there literally less bid sums on BFX to 400 than there was when I went to bed last night and the price was 424? It looks to me like there was a big buyer on Bitstamp and panic buying on BFX based on the comment by Houbi. Bitfinex orderbook should not be a measure.
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oda.krell
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Activity: 1470
Merit: 1007
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April 03, 2014, 05:29:45 PM |
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He's still there. Patiently waiting... until you fall asleep.
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