JayJuanGee
Legendary
Offline
Activity: 3836
Merit: 10844
Self-Custody is a right. Say no to"Non-custodial"
|
|
December 09, 2016, 05:03:24 PM |
|
Good AM Bitcoinland.
This is starting to get monotonous... still $775USD/$1023CAD at Bitcoinaverage.
As expected, $780 has proven to be a formidable barrier.
Maybe this weekend we'll see some real movement.
I have kind of been wondering about this matter of the price lingering at the top of a newly formed channel, and taking considerable time to break through. Does anyone have any solid theory or technical analysis terms for that dynamic? I am kind of considering the whole dynamic as bullish, and maybe it has kind of been occurring for 4 months since the lower $600s? Eat away at resistance go up a little bit, eat away at resistance go up a little bit, etc etc etc...
|
|
|
|
JimboToronto
Legendary
Offline
Activity: 4130
Merit: 4785
You're never too old to think young.
|
|
December 09, 2016, 05:30:57 PM |
|
Good AM Bitcoinland.
This is starting to get monotonous... still $775USD/$1023CAD at Bitcoinaverage.
As expected, $780 has proven to be a formidable barrier.
Maybe this weekend we'll see some real movement.
I have kind of been wondering about this matter of the price lingering at the top of a newly formed channel, and taking considerable time to break through. Does anyone have any solid theory or technical analysis terms for that dynamic? I am kind of considering the whole dynamic as bullish, and maybe it has kind of been occurring for 4 months since the lower $600s? Eat away at resistance go up a little bit, eat away at resistance go up a little bit, etc etc etc... I'm not big on technical analysis being applied to something as manipulable as Bitcoin, so I can't comment on its terminology. I will say that I also see this phenomenon as bullish, but that's not surprising. I wouldn't be an accumulator/holder if I wasn't a permabull long-term. Luckily Bitcoin has (with the exception of 2014) proven me right. The tinfoil-hat conspiracy theorist in me would like to believe that it's all a choreographed dance, orchestrated by a few extremely wealthy individuals or groups to accumulate large Bitcoin holdings at the expense of amateur traders. The realist in me wants to believe it's just a natural market dynamic. Keep battering away at a resistance point until it's broken, move up another leg, have a correction/profit-taking/(manipulation dump?), establish a new higher support level, then head back up to the new resistance point. Rinse and repeat. Either way, I see it continuing upward for now.
|
|
|
|
JimboToronto
Legendary
Offline
Activity: 4130
Merit: 4785
You're never too old to think young.
|
|
December 09, 2016, 06:12:48 PM |
|
people will just give up on exchanges and just go outside at the "piazza" and just ask random people "do you like to buy some BTCitcoin?", like a person selling pamphlets or tickets for something.
It's been years since I've used an exchange. Indeed many of my purchases have been from private individuals "on the street" (actually securely behind closed doors). More recently there has been an explosion of BTC ATMs in Toronto and fees have plummeted considerably. I used to pay 5-7% and figure it was worth it because half of that represented what it would have cost me in exchange trading fees and fiat transfer costs, and I was buying convenience and anonymity. Now i have my choice of 3.5% ATMs within walking distance of my home,including one just a block away from the Skydome which I attend regularly during the spring and summer. I can even buy or sell up to $100/day for only 1% at (strangely enough) Deloitte, the esteemed corporate accountancy/services firm, albeit with no anonymity. The daily limit isn't much good for buying the dips when I usually try to buy at least a whole coin or more, but paying a mere dollar to buy $100 fiat is great if I'm short on cash and I'm forced to part with a little bit of Bitcoin. The point I'm trying to make is that not only are people moving beyond the exchanges and banks, but independent operators are competing to fill the gap. The fact that someone as big as Deloitte is aggressively joining the competition speaks volumes.
|
|
|
|
hulla
|
|
December 09, 2016, 07:42:33 PM |
|
Who creates the polls for this thread? Cause they are awful. Why would you say next Friday instead of a specific date. Next Friday changes every week. That's a good point to be honest, I've posted in & viewed this thread for ages but never thought that. But whilst we're at it, the price next Friday (16th Dec) I will predict $804 Hmm. It will be nice if the pice of bitcoin hit 804$ but the question is. Are you totally/wholly sure of your prediction?
|
|
|
|
logictense
|
|
December 09, 2016, 08:24:30 PM Last edit: January 14, 2017, 02:01:10 AM by logictense |
|
Good AM Bitcoinland.
This is starting to get monotonous... still $775USD/$1023CAD at Bitcoinaverage.
As expected, $780 has proven to be a formidable barrier.
Maybe this weekend we'll see some real movement.
If u ever traded stocks u would have known that some people be inclined to wait a minimum of 3 days for a totally confirmed breakout. Ur wording etc "monotonous" would have been considered right if u had traded a chop. BTC havent been choppy for two months, quite the opposite - it has been in a steady uptrend. With unmeasurably faster cycle than that in most stocks, bitcoin is nothing compared to West Texas Oil which, for example, had experienced a 4 y long chop before it crashed hard summer 2014.
|
|
|
|
PoolMinor
Legendary
Offline
Activity: 1843
Merit: 1338
XXXVII Fnord is toast without bread
|
|
December 09, 2016, 08:47:37 PM |
|
Good AM Bitcoinland.
This is starting to get monotonous... still $775USD/$1023CAD at Bitcoinaverage.
As expected, $780 has proven to be a formidable barrier.
Maybe this weekend we'll see some real movement.
I have kind of been wondering about this matter of the price lingering at the top of a newly formed channel, and taking considerable time to break through. Does anyone have any solid theory or technical analysis terms for that dynamic? I am kind of considering the whole dynamic as bullish, and maybe it has kind of been occurring for 4 months since the lower $600s? Eat away at resistance go up a little bit, eat away at resistance go up a little bit, etc etc etc... Logarithmically speaking, we are right on track.... Enjoy the next rise.
|
|
|
|
podyx
Legendary
Offline
Activity: 2338
Merit: 1035
|
|
December 09, 2016, 08:58:08 PM |
|
Good AM Bitcoinland.
This is starting to get monotonous... still $775USD/$1023CAD at Bitcoinaverage.
As expected, $780 has proven to be a formidable barrier.
Maybe this weekend we'll see some real movement.
I have kind of been wondering about this matter of the price lingering at the top of a newly formed channel, and taking considerable time to break through. Does anyone have any solid theory or technical analysis terms for that dynamic? I am kind of considering the whole dynamic as bullish, and maybe it has kind of been occurring for 4 months since the lower $600s? Eat away at resistance go up a little bit, eat away at resistance go up a little bit, etc etc etc... Sitting near resistance without breaking through it usually means it's bearish and vice versa for sitting near support. If we don't break through 780+ before christmas, I will be cautious.
|
|
|
|
JayJuanGee
Legendary
Offline
Activity: 3836
Merit: 10844
Self-Custody is a right. Say no to"Non-custodial"
|
|
December 09, 2016, 09:43:22 PM |
|
Good AM Bitcoinland.
This is starting to get monotonous... still $775USD/$1023CAD at Bitcoinaverage.
As expected, $780 has proven to be a formidable barrier.
Maybe this weekend we'll see some real movement.
I have kind of been wondering about this matter of the price lingering at the top of a newly formed channel, and taking considerable time to break through. Does anyone have any solid theory or technical analysis terms for that dynamic? I am kind of considering the whole dynamic as bullish, and maybe it has kind of been occurring for 4 months since the lower $600s? Eat away at resistance go up a little bit, eat away at resistance go up a little bit, etc etc etc... Sitting near resistance without breaking through it usually means it's bearish and vice versa for sitting near support. If we don't break through 780+ before christmas, I will be cautious. O.k.... fair enough.. .Christmas is two weeks away, and I would be quite surprised if we are still pushing in the $760 to $780 range in two weeks... but yeah, you could be correct that if we are in the $760 to $780 range, then that is not necessarily a good sign for breaking to the upside.
|
|
|
|
becoin
Legendary
Offline
Activity: 3431
Merit: 1233
|
|
December 09, 2016, 10:45:21 PM |
|
If we don't break through 780+ before christmas, I will be cautious.
Christmas?... We shall break 780 within next 48 hours.
|
|
|
|
Fakhoury
Legendary
Offline
Activity: 1386
Merit: 1027
Permabull Bitcoin Investor
|
|
December 09, 2016, 11:02:44 PM |
|
If we don't break through 780+ before christmas, I will be cautious.
Christmas?... We shall break 780 within next 48 hours. Because of the breakout.
|
|
|
|
r0ach
Legendary
Offline
Activity: 1260
Merit: 1000
|
|
December 10, 2016, 12:29:08 AM |
|
Logarithmically speaking, we are right on track....
I thought everyone was here because we're on the wrong track: http://www.youtube.com/watch?v=GVSDfCzkzCA
|
|
|
|
BlackSpidy
|
|
December 10, 2016, 02:51:06 AM |
|
So, we're right at the door of a rally. Bitcoin is stable, people are regaining confidence in purchasing the thing as an investment and I'm as ready as I can get with my minuscule trading budget. So, to commemorate this day, I made a chart. I haven't had any formal teaching of forex/exchange/commodity market markets and finance, but I think it paints a good picture. An accurate picture. I have seen people trying to draw trend lines from the bottom up. I thought to myself "what if I draw from the top down? This is basically what I came up with. I hope it's at least somewhat entertaining/informative. I'm using bitfinex, because that's what I'm using nowadays. I wanted the "wishful thinking" part to have the two peaks closer, time-wise... but I had already written "Enter the bull" and was too lazy to move it. Good luck, everyone. It's been a wild (almost) two years, I look forward to spending another two years here.
|
|
|
|
mymenace
Legendary
Offline
Activity: 1596
Merit: 1061
Smile
|
|
December 10, 2016, 04:14:45 AM |
|
So, we're right at the door of a rally. Bitcoin is stable, people are regaining confidence in purchasing the thing as an investment and I'm as ready as I can get with my minuscule trading budget. So, to commemorate this day, I made a chart. I haven't had any formal teaching of forex/exchange/commodity market markets and finance, but I think it paints a good picture. An accurate picture. I have seen people trying to draw trend lines from the bottom up. I thought to myself "what if I draw from the top down? This is basically what I came up with. I hope it's at least somewhat entertaining/informative.
I'm using bitfinex, because that's what I'm using nowadays. I wanted the "wishful thinking" part to have the two peaks closer, time-wise... but I had already written "Enter the bull" and was too lazy to move it. Good luck, everyone. It's been a wild (almost) two years, I look forward to spending another two years here.
great work. under the tools menu on bitcoinwisdom use the Fibonacci fan from the top down like you just did very close
|
|
|
|
Killerpotleaf
Sr. Member
Offline
Activity: 812
Merit: 250
A Blockchain Mobile Operator With Token Rewards
|
|
December 10, 2016, 06:51:50 AM |
|
i want to go on a bit of a rant. its not price related but here's the chart anyway. what would be best for bitcoin right now is unity.image core devs and bu devs and Gavin! coming out of the wood work all collaborating to give us segwit + free market BlockSize. that IMO is gold. that will yield small reasonable blocks size increases along side a LN network cooking to perfection. this outcome would yield 32,000$ a coin.. admit it. fight for this outcome. run a BU client if for no other reason as to express your desire for more diversified set of bitcoin BIPs on the table at any one time. anyway you look at it bitcoin is a buy right now, if it go segwit if it goes bu if it dose both in short order and then some. time is now. buy.
|
|
|
|
DaRude
Legendary
Offline
Activity: 2889
Merit: 1864
In order to dump coins one must have coins
|
|
December 10, 2016, 08:33:30 AM |
|
i want to go on a bit of a rant. its not price related but here's the chart anyway. what would be best for bitcoin right now is unity.image core devs and bu devs and Gavin! coming out of the wood work all collaborating to give us segwit + free market BlockSize. that IMO is gold. that will yield small reasonable blocks size increases along side a LN network cooking to perfection. this outcome would yield 32,000$ a coin.. admit it. fight for this outcome. run a BU client if for no other reason as to express your desire for more diversified set of bitcoin BIPs on the table at any one time. anyway you look at it bitcoin is a buy right now, if it go segwit if it goes bu if it dose both in short order and then some. time is now. buy. Nope. Having no restriction on a size of a block chain is suicide! If core goes full retard and actually try that i'm shorting BTC getting some popcorn and will watch that dumb ass idea collapse on itself in fireworks. But don't let that discourage you. You go ahead and keep on shilling, BTW i like the rebranding from unlimited blocks to "free market BlockSize" how about "BestFlexibleBlocksThatSaveChildrenAndEndWars BlockSize" TM you too funny, but you try too hard
|
|
|
|
criptix
Legendary
Offline
Activity: 2464
Merit: 1145
|
|
December 10, 2016, 08:37:47 AM |
|
I think the power is out. Im awaiting a big dump close to xmas.
|
|
|
|
becoin
Legendary
Offline
Activity: 3431
Merit: 1233
|
|
December 10, 2016, 10:02:17 AM |
|
I think the power is out. Im awaiting a big dump close to xmas.
I'm waiting for such a dump to buy some cheap coins but day after day and only 2 weeks till Christmas I'm losing confidence. If there is such a dump it will be pretty anemic.
|
|
|
|
Karartma1
Legendary
Offline
Activity: 2310
Merit: 1422
|
|
December 10, 2016, 11:20:33 AM |
|
...the value is showing so much maturity. Volatility seems a thing of the past...
Maybe, but let's not forget that in 2012 volatility seemed to be done also. Then we had 2013. I don't think we'll have quite the volatility as we had during the 3 great bubbles (or even last spring's micro-bubble) when it rocketed up in a few short weeks and plummeted just as quickly. Hopefully the next bubble will take several months (or even years) instead of just weeks. The fractals of the bubbles are remarkably similar, but they are getting taller, longer, and with longer intervals between them. Eventually one of them will be where the s-curve goes "vertical". Then the exponential growth phase will be done and the price will exponentially level off. I lost this comment in the flow. When I say that volatility is a thing of the past I'm referring to recent times. Of course if we look at the past we could recognise some pattern which may likely happen again. Anyway, good analysis I second that.
|
|
|
|
hulla
|
|
December 10, 2016, 12:28:18 PM |
|
So, we're right at the door of a rally. Bitcoin is stable, people are regaining confidence in purchasing the thing as an investment and I'm as ready as I can get with my minuscule trading budget. So, to commemorate this day, I made a chart. I haven't had any formal teaching of forex/exchange/commodity market markets and finance, but I think it paints a good picture. An accurate picture. I have seen people trying to draw trend lines from the bottom up. I thought to myself "what if I draw from the top down? This is basically what I came up with. I hope it's at least somewhat entertaining/informative. I'm using bitfinex, because that's what I'm using nowadays. I wanted the "wishful thinking" part to have the two peaks closer, time-wise... but I had already written "Enter the bull" and was too lazy to move it. Good luck, everyone. It's been a wild (almost) two years, I look forward to spending another two years here. Yes, people are gaining their confidence back and my pray is that the hacking situation stop for real. If I get right. You're currently using bitfinex, isn't it? How is everything there now and how much is bitcoin on there?
|
|
|
|
r0ach
Legendary
Offline
Activity: 1260
Merit: 1000
|
|
December 10, 2016, 01:49:11 PM Last edit: December 10, 2016, 02:01:25 PM by r0ach |
|
I think the power is out. Im awaiting a big dump close to xmas.
Lowest it can dump to is $720ish, while the current upside targets are $815 and $900.
|
|
|
|
|