bassclef
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January 19, 2015, 08:13:34 PM |
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Support really looks good for the past 2-3 days. If not increase, I would hope to see it stable in the next few days.
I won't be too sure based on just 2-3 days work. Any Bear can dump the hell out of support any time they want to. I hardly see buying support that strong. Not any bear. These are people trading large amounts of money. It's expensive to do so. And if he's the only one dumping, he'll lose money.
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Brewins
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January 19, 2015, 08:14:27 PM |
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the ongoing drop in btc price appears identical to the pm's drop in price. the pm's are smashed down regularly and will reach a new low then capped in that new lower range. we are seeing the same thing in btc where each 'crash down' or 'smash down' leaves btc trading in a new lower range. i do believe that 3600 coins daily inflation and selling pressure but the similarity to pm's 'smash downs' is remarkable.
I don't think there is much similarity in the prices of gold and bitcoin. Both are much different. Price of gold also can't be manipulated with little capital, like it can for bitcoin. also precious metals have true demand in real life stuff(art, electronics, etc...)
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inca
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January 19, 2015, 08:15:22 PM |
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Support really looks good for the past 2-3 days. If not increase, I would hope to see it stable in the next few days.
I won't be too sure based on just 2-3 days work. Any Bear can dump the hell out of support any time they want to. I hardly see buying support that strong. But it's expensive to do so. And if he's the only one dumping, he'll lose money. And there are still 22,000 coins held short that need to be bought back on finex. Look at the orderbook and see how far up the price that takes you. (And yes it isn't quite that simple but..)
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bassclef
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January 19, 2015, 08:22:18 PM |
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Support really looks good for the past 2-3 days. If not increase, I would hope to see it stable in the next few days.
I won't be too sure based on just 2-3 days work. Any Bear can dump the hell out of support any time they want to. I hardly see buying support that strong. But it's expensive to do so. And if he's the only one dumping, he'll lose money. And there are still 22,000 coins held short that need to be bought back on finex. Look at the orderbook and see how far up the price that takes you. (And yes it isn't quite that simple but..) I agree. The order books look bullish atm. Even though I don't generally base my trading on them as they can quickly change, I do put a lot of weight in effort versus result when looking at volume.
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ParabellumLite
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January 19, 2015, 08:36:25 PM |
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The triangle is closing: I wonder what will happen tomorrow.
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Specular
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January 19, 2015, 08:37:09 PM |
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swiss central bank depegs the franc from the euro .. the Dow Jones sinks over 2%, while silver went up 7% and gold went up 4.5%:" bitcoin being in it's own world is.....down. it seem like something wrong in bitcoin world .
remember, even if currently about 800k $ get invested into Bitcoin, it will only cover the inflation. You have to add every merchant instantly selling + regular sellers. That's a hell of selling pressure every day. That's the main reason we will most likely stay in this bear market until something drastic happens. Like a Fiat Currency Crashing (€, $ or ¥). If nothing magical happens, the next halving of the mining reward would at least take out some pressure so the currency could grow in value. yup i do remember the inflation of 3600 bitcoins everyday. i agree with your assessment. i think the swiss didn't unpeg from euro and hurt their own economy just for the heck of it. somethings going on. There was an influx of money into their country ..its pretty much made them de-peg. I'm basing this off one article I read though Any chance of a link to the article ? Here are a few perspectives on the Swiss Franc situation: http://www.telegraph.co.uk/finance/economics/11349479/Switzerland-capitulates-on-franc-as-global-currency-wars-take-next-victim.htmlhttp://www.nytimes.com/2015/01/16/opinion/paul-krugman-francs-fear-and-folly.htmlhttp://www.economist.com/blogs/buttonwood/2015/01/currencies
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LFC_Bitcoin
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January 19, 2015, 08:39:29 PM |
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So boring atm. Let's have an epic bull run. Come on people buy.
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Afrikoin
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January 19, 2015, 08:44:08 PM |
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Elwar
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January 19, 2015, 08:47:35 PM |
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So boring atm. Let's have an epic bull run. Come on people buy.
Perhaps you missed it going back and forth between $212 and $213 for a while...then up to $214, now back to $213? Hold onto your hats gentlemen.
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ParabellumLite
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January 19, 2015, 08:49:13 PM |
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Any (quality) TA here would be appreciated. I'm curious whether some people are thinking the same as me regarding market movement tomorrow. Throw in those random drawn lines!
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Brewins
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January 19, 2015, 08:51:13 PM |
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If stock market goes well, people invest in stock market instead of BTC. If economy is bad, people invest less in risky markets like BTC. One way or another people will have a reason to don't invest in BTC ![Sad](https://bitcointalk.org/Smileys/default/sad.gif)
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bassclef
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January 19, 2015, 08:51:46 PM |
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Any (quality) TA here would be appreciated. I'm curious whether some people are thinking the same as me regarding market movement tomorrow. Throw in those random drawn lines!
Just look at the size of the wick shooting down on the 3d candle. Look at all that stopping volume. All the TA I need.
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ChartBuddy
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January 19, 2015, 08:59:58 PM |
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Bitfinex ![](https://ip.bitcointalk.org/?u=https%3A%2F%2Fi.imgur.com%2F6ki96kI.png&t=665&c=KXjFeYZ3Flg2xQ) Bitstamp Explanation
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YourMother
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January 19, 2015, 09:09:14 PM |
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Did i missed the great news or it's just another kamikaze ?
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Phillis
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January 19, 2015, 09:12:11 PM |
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looks like there may be some steam to the next leg up. ![Smiley](https://bitcointalk.org/Smileys/default/smiley.gif)
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Brewins
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January 19, 2015, 09:17:24 PM |
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Did i missed the great news or it's just another kamikaze ?
hum? Any move I missed? Or you afk for more than a week?
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Specular
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January 19, 2015, 09:18:29 PM |
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Regarding the Swiss Franc - I think that the event is further evidence that there are some serious tectonic plates shifting in the financial markets. Oil is going nuts, the Eurozone has a serious deflation and unemployment crisis (along with a number of acute events on the horizon - ECB QE decision and Greek Election), China's slowing down while it experiences a weird stock market bubble and Japan is running an unprecedented monetary experiment in the hopes of ending a decade of deflation.
The question is whether Bitcoin will be considered a Safe Asset due to the fact that it can't be controled by a central bank, or will it be lumped into the "risk asset" category and go down with oil and stocks...
I think that it will depend on what financial events happen over the next 6-12 months, the status of the Bitcoin ETF and of course the broader adoption of Bitcoin (or something built on Bitcoin) by average consumers.
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ParabellumLite
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January 19, 2015, 09:19:57 PM |
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looks like there may be some steam to the next leg up. ![Smiley](https://bitcointalk.org/Smileys/default/smiley.gif) Noticed that as well, but I'm not convinced yet. edit: the small momentum that was there seems to have died out already.
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Specular
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January 19, 2015, 09:30:36 PM |
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History has a lot of lessons on the dangers of deflation. Many people intuitively see prices declining as a good thing - cheaper food etc. But when prices go down too much, there are a number of serious dangers: - Debt levels go up in real terms (and most people/companies are in debt) - Companies don't invest in new projects because they think prices will keep dropping - People don't spend as much on big ticket items - also expecting prices to be lower in the future
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