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bad trader
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March 09, 2015, 06:34:29 PM |
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buy pressure seems to be abating. opened a small short with a tight stop. OKCoin stopped below the 1797.1 CNY top and Bitfinex stopped below the 291 USD trend line, but this could well develop into a bull flag and we could see another jump later. |
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JimboToronto
Legendary
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Activity: 4186
Merit: 4816
You're never too old to think young.
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March 09, 2015, 06:35:32 PM |
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Who said there would be a dump today ??
Many trollbears. |
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KryptoFoo
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March 09, 2015, 06:36:20 PM |
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buy pressure seems to be abating. opened a small short with a tight stop. OKCoin stopped below the 1797.1 CNY top and Bitfinex stopped below the 291 USD trend line, but this could well develop into a bull flag and we could see another jump later. Yeah that seems possible, watching closely! |
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bassclef
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March 09, 2015, 06:39:27 PM |
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On the Finex 1h chart there is not much selling into this little rally, just longs closing and taking profit. I'm sitting on 20% but will wait and see what happens as we approach $300. A "slow and steady" pump into a market exhausted of selling is definitely more sustainable than a "super crazy parabolic pump"  In this type of market if we don't get pushed down, there's only one direction to go. |
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Miz4r
Legendary
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Activity: 1246
Merit: 1000
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March 09, 2015, 06:43:23 PM |
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To be honest, I hope we won't see a rally.
A slow and steady rise from here would be very bullish.
Slow and steady not possible. Either goes parabolic another ~50$ and crashes, or runs of of steam and crashes. So no matter what happens it will crash? Bitcoin can do anything it wants to. I agree slow and steady is unlikely, but parabolic $50 and crash or stagnation and then crash are definitely not the only two options. We could keep stair stepping upwards for quite a while longer, with some consolidation periods and retracements in between. |
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empowering
Legendary
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Activity: 1078
Merit: 1441
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March 09, 2015, 06:50:53 PM |
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buy pressure seems to be abating. opened a small short with a tight stop. OKCoin stopped below the 1797.1 CNY top and Bitfinex stopped below the 291 USD trend line, but this could well develop into a bull flag and we could see another jump later. Yeah that seems possible, watching closely! Good idea  |
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dreamspark
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March 09, 2015, 06:52:50 PM |
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buy pressure seems to be abating. opened a small short with a tight stop.
8.5k to $280 on Finex, buy pressure deffo abating  |
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barbs
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March 09, 2015, 06:54:24 PM |
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It all depends which way the whales want to paint the tape.
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Wandererfromthenorth
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March 09, 2015, 06:55:37 PM |
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To be honest, I hope we won't see a rally.
A slow and steady rise from here would be very bullish.
Slow and steady not possible. Either goes parabolic another ~50$ and crashes, or runs of of steam and crashes. So no matter what happens it will crash? Bitcoin can do anything it wants to. I agree slow and steady is unlikely, but parabolic $50 and crash or stagnation and then crash are definitely not the only two options. We could keep stair stepping upwards for quite a while longer, with some consolidation periods and retracements in between. What you need for that to happen is an insane amount of fiat being poured in on all exchanges. Bid Sum on all exchanges is still low AF. The pumps you saw these last weeks are mostly people not wanting to sell (yet) as we can see with the rapidly decreasing ask sums and a lot of longs going full retard. This is something similar to what happened with the rally from $450 to $680 last year. It's not sustainable, it just delays the inevitable. Then sure, if all exchanges will suddenly be flooded with fresh fiat with bid sums going crazy then the story changes and maybe the real uptrend can begin, but until then... In the meantime as mentioned it could go to like $330-$360 (where the log trend line is, as I posted last week) tho, but it doesn't mean much long term, still. |
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empowering
Legendary
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Activity: 1078
Merit: 1441
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March 09, 2015, 06:55:55 PM |
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I did
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bad trader
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March 09, 2015, 06:56:16 PM |
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Well, that was quick.
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KryptoFoo
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March 09, 2015, 06:56:24 PM |
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ouch, stopped out. surprisingly strong!
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ThatDGuy
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March 09, 2015, 06:56:56 PM |
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Damn... $293 got here quick!
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podyx
Legendary
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Activity: 2338
Merit: 1035
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March 09, 2015, 06:57:34 PM |
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buy pressure seems to be abating. opened a small short with a tight stop.
8.5k to $280 on Finex, buy pressure deffo abating  |
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testerman
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March 09, 2015, 06:58:29 PM |
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we are going to not moon, going to uranus pluton neptune jupiter
huobi has just passes 1805 yuans and increasing with good volume
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spooderman
Legendary
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Activity: 1652
Merit: 1029
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March 09, 2015, 06:58:33 PM |
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time to repost my favourite meme of all time:  |
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empowering
Legendary
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Activity: 1078
Merit: 1441
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March 09, 2015, 06:59:07 PM |
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ChartBuddy
Legendary
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Activity: 2352
Merit: 1802
1CBuddyxy4FerT3hzMmi1Jz48ESzRw1ZzZ
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March 09, 2015, 06:59:18 PM |
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hyphymikey
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March 09, 2015, 07:00:07 PM |
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So who is going to be foolish enough to provide liquidity on the ask side now? The ones selling on every rise over the weekend should have learned by now, right?
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