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bassclef
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April 19, 2015, 06:56:55 PM |
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Getting an urge to go leverage long with my 50 btc play stash. Must. Not. Give. In.  I think there's a bit more downside (sorry guys). Technically things aren't looking great unless you can call this low volume chopping around a bottom--I can't. 3d macd solidly in the red. Daily chart bear flag in the works looking a bit foreboding. Whales seem intent on getting a panic shakeout near 200s or lower. Save your longs until then when everyone's freaking out. All this chopping around from 220-230 is fake. The people who do get caught in the middle are those who are buying those shorts. Thursday show @230 I gotto admit was pretty good. Since we have gone from 22000 to 29200 shorts in a few days and the longs havent moved, whilst the price has risen, I would agree it is fake but not in the way you suggest. Borrowed selling and real buying by the looks of things. I think the analysis of shorts vs longs is useful to know but overused to predict price. Shorts were at ATHs and the market still went down; conversely for longs. Market moves on supply and demand and not much else and those with the most coins and $$$ have the largest effect on price. They still have risk and need to make money so this will push the market in the direction of least resistance, or where obvious technicals point (often this is the same). Whales respect good, time-tested TA (volume, trends, support & resistance, MAs) just as other traders do. This is important as many of them are quite good. Shorts vs longs may tell a good story but is more of a metric to see how many traders are entering the market to profit than anything else. |
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Fatman3001
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Make Bitcoin glow with ENIAC
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April 19, 2015, 06:58:10 PM |
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Well, difficulty down substantially it seems.
Estimated Next Difficulty: 47,606,427,273 (-3.72%)
Adjust time: After 3 Blocks, About 31.5 minutes
It took a month to go from 20b to 30b. We crossed 40b at Nov 18, 2014 and we still haven't crossed 50b. That should tell you something about how squeezed miners are atm. And when summer comes many of them will have to look at costs connected to cooling those machines vs just turning them off. I doubt they have the equipment or even the prerequisites to install AC units in that scale. A lot can be done with some fans and wet corrugated paper. But it still draws electricity. |
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ChartBuddy
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1CBuddyxy4FerT3hzMmi1Jz48ESzRw1ZzZ
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April 19, 2015, 06:58:25 PM |
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GreekGeek
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April 19, 2015, 07:00:54 PM |
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A lot can be done with some fans and wet corrugated paper. But it still draws electricity.
provided the ambient humidity is low to begin with... |
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Fatman3001
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April 19, 2015, 07:10:05 PM |
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Well, difficulty down substantially it seems.
Estimated Next Difficulty: 47,606,427,273 (-3.72%)
Adjust time: After 3 Blocks, About 31.5 minutes
It took a month to go from 20b to 30b. We crossed 40b at Nov 18, 2014 and we still haven't crossed 50b. That should tell you something about how squeezed miners are atm. And when summer comes many of them will have to look at costs connected to cooling those machines vs just turning them off. Yeah. Well, my thory has been that if the market believes that bitcoin has a future it won´t let it drop far enough to make most mining dubious. And with it the blockchain. Thus, the bottom at 220 or so, apart from those five second 210 and 215 blips. The volume isn't here though. We have to move soon, my bottom is clenched. I thought earlier that it had formed a solid support at 240-250 and I think it´ll crawl back to there. Although the volume is always weak, bitcoin has this persistent and annoying buying from tons of small bulls. Annoying that is to those few and relatively big bears that have played it down (and of course sometimes up while they cover) for over a year now. Bitcoin has twice tried for 300 in the last three months or so. A third isn´t too far fetched in the short to intermediate trem. We´ll see. Good luck, g We need to punch through 300 and land comfortably at 380 soonish and climb to 450-550 over the summer. Then I would feel more confident. But as you say, we'll see. Good luck to you too. |
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Norway
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April 19, 2015, 07:16:38 PM |
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2 USD down. Doesn't look good for my prediction that monday will be "Wall Street Monday"...  |
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Fatman3001
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April 19, 2015, 07:21:24 PM |
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2 USD down. Doesn't look good for my prediction that monday will be "Wall Street Monday"... TBH I didn't understand your argument. A lot of old news would somehow create the perfect storm tomorrow for no real reason at all? Of course, If you are right then we will all hail you as our new king. |
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inca
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April 19, 2015, 07:21:36 PM |
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walls bouncing a lot..
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macsga
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Strange, yet attractive.
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April 19, 2015, 07:24:33 PM |
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walls bouncing a lot..
High volume dump on Huobi. Stamp follows. This could be interesting...  |
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Fatman3001
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April 19, 2015, 07:27:03 PM |
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walls bouncing a lot..
High volume dump on Huobi. Stamp follows. This could be interesting... I can't say I see a high volume dump anywhere. I just see people selling all across the exchanges. |
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JimboToronto
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You're never too old to think young.
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April 19, 2015, 07:29:20 PM |
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walls bouncing a lot..
High volume dump on Huobi. Stamp follows. This could be interesting... High volume? |
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inca
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April 19, 2015, 07:30:07 PM |
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asks melted on finex. curious.
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soullyG
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April 19, 2015, 07:32:49 PM |
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DOOOOOOOOOOOM   |
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Cconvert2G36
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April 19, 2015, 07:36:22 PM |
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Nice illustration of the psychological impact and ultimate result of the coinbase wall shenanigans.  Relatively little volume on any exchange for this move. |
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Norway
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April 19, 2015, 07:37:52 PM |
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2 USD down. Doesn't look good for my prediction that monday will be "Wall Street Monday"... TBH I didn't understand your argument. A lot of old news would somehow create the perfect storm tomorrow for no real reason at all? Of course, If you are right then we will all hail you as our new king. King, lol! It's mostly based on the GBTC delay, the fact that it could be wise to sync it with Gemini or COIN, Rand Pauls appearance at a bitcoin event today and signals the the BitLicence is "Comming very soon". And announcements often happens on mondays. |
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fonzie
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April 19, 2015, 07:39:38 PM |
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walls bouncing a lot..
High volume dump on Huobi. Stamp follows. This could be interesting... I can't say I see a high volume dump anywhere. I just see people selling all across the exchanges. But i think we can all agree that this is actually bullish as fuck, right?  |
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fonzie
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April 19, 2015, 07:42:03 PM |
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So what are the chances that Wall Street is starting to buy BTC on Huobi and Finex tomorrow? 85%? 97% 110%?
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empowering
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April 19, 2015, 07:44:58 PM |
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So what are the chances that Wall Street is starting to buy BTC on Huobi and Finex tomorrow? 85%? 97% 110%?
Tarmacadam ain't buying jack shit. |
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derpinheimer
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April 19, 2015, 07:49:01 PM |
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Charts are screaming up; people are screaming down. I'm so confused!
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fonzie
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April 19, 2015, 07:51:54 PM |
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So what are the chances that Wall Street is starting to buy BTC on Huobi and Finex tomorrow? 85%? 97% 110%?
Tarmacadam ain't buying jack shit. I have another question for you then: "When will you and your little gang of Bitcoiners finally buy enough coins to prevent this tragedy from crashing even more?" |
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