ElectricMucus
Legendary
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Activity: 1666
Merit: 1057
Marketing manager - GO MP
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July 11, 2013, 10:23:49 AM |
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Tired already bulls?
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micalith
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July 11, 2013, 10:28:29 AM |
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What will happen? Up or down? And if we go up do we go down after that? Do we see $50 ever again?
Yes. No. Maybe. Yes, going to $90 soon volume is surely too low to sustain this long-term. It looks to me like it's corrected about right for having been over sold, and is ready to get back to the slow slide down again soon. This is just based on my intuition, and what some of the more convincing mid-term bears on this thread have explained previously. |
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crumbs
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July 11, 2013, 10:43:59 AM |
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Yesterday taught me just *how* pathetic my attempts at reading the Bitcoin market are, and *how* irrelevant both TA & common sense are to this market. Trying a new strategy today. Got me some black candles burning on both sides of the monitor, crayons for drawing pentagrams & magikal symbolz, got The Lord's Prayer queued up to loop backwards in Pro Tools. As soon as my cat learns to arch his back & hiss at the chart, i'll be set for a new day of trading  |
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ft73
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July 11, 2013, 10:48:55 AM |
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Waiting for $84.
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stereotype
Legendary
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Activity: 1554
Merit: 1000
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July 11, 2013, 10:49:14 AM |
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Yesterday taught me just *how* pathetic my attempts at reading the Bitcoin market are, and *how* irrelevant both TA & common sense are to this market. Trying a new strategy today. Got me some black candles burning on both sides of the monitor, crayons for drawing pentagrams & magikal symbolz, got The Lord's Prayer queued up to loop backwards in Pro Tools. As soon as my cat learns to arch his back & hiss at the chart, i'll be set for a new day of trading +1 Used to listen to a futures trading chat room/radio show many years ago. The host would present a spoof interview with 'Tony Tides', which was an in-joke with regular listeners. The newbies where genuinely taken-in by this mysterious Tony who could read the motion of the tides and predict the days market movements! |
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gandhibt
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July 11, 2013, 10:58:03 AM |
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 Maybe we go down? Volume is null and both money flow and RSI are up. |
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MAbtc
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July 11, 2013, 10:59:59 AM |
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Looks like a flag forming. Don't know which way it will break.... originally thought up to 96 after another oscillation down, but this rally has me nervous. Didn't reach my target but happy to take profits at 89. All out, now dump please.  |
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barbs
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July 11, 2013, 11:41:59 AM |
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BTCE under 80?
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Loozik
Sr. Member
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Activity: 378
Merit: 250
Born to chew bubble gum and kick ass
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July 11, 2013, 11:45:56 AM |
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BTCE under 80?
It is desired for Mrs Market, if she decided to go north, to cool down a bit before resuming this trend reversal. We might see prices slightly below 80 for a very short period of time. If this happens it is a reassuring sign for those with long positions. |
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Miz4r
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Activity: 1246
Merit: 1000
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July 11, 2013, 11:47:50 AM |
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Looks like Bitstamp and Gox have become very close buddies now. Bitstamp's volume also at an ATH now, higher than during the crash even. I think within a few months volume will be 50/50 shared between Gox and Bitstamp.  |
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molecular
Donator
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Activity: 2772
Merit: 1019
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July 11, 2013, 12:10:09 PM |
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"markets hate nothing more than indecision"
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Traktion
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July 11, 2013, 12:43:43 PM |
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Yesterday taught me just *how* pathetic my attempts at reading the Bitcoin market are, and *how* irrelevant both TA & common sense are to this market. Trying a new strategy today. Got me some black candles burning on both sides of the monitor, crayons for drawing pentagrams & magikal symbolz, got The Lord's Prayer queued up to loop backwards in Pro Tools. As soon as my cat learns to arch his back & hiss at the chart, i'll be set for a new day of trading  I think you just have to be prepared for nothing to be foolproof. As long as you win most of the time, you're still better off trading than doing nothing (IMO)! |
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Loozik
Sr. Member
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Activity: 378
Merit: 250
Born to chew bubble gum and kick ass
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July 11, 2013, 12:44:38 PM |
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Waiting for $84.
Some scenarios. I wouldn't speculate on how probable they are at the moment. Blue = triangle Red = flag It is possible Mrs Market will do something else.  |
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Ivanhoe
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July 11, 2013, 01:18:25 PM |
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Some Tuesdays have proven to be interesting in the past, let's see what today brings. Laying on the beach with a cocktail watching how this wall at 80 gets eaten, could become a nice day Wall at 80 getting eating? We haven't touched 80 on gox since 26 hours. What kind of cocktail are we talking about? Turned out to be alcohol-free;) |
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molecular
Donator
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Activity: 2772
Merit: 1019
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July 11, 2013, 01:29:20 PM |
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Some Tuesdays have proven to be interesting in the past, let's see what today brings. Laying on the beach with a cocktail watching how this wall at 80 gets eaten, could become a nice day Wall at 80 getting eating? We haven't touched 80 on gox since 26 hours. What kind of cocktail are we talking about? Turned out to be alcohol-free;) that leaves even more questions. ;-) |
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Ivanhoe
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July 11, 2013, 01:30:12 PM |
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Some Tuesdays have proven to be interesting in the past, let's see what today brings. Laying on the beach with a cocktail watching how this wall at 80 gets eaten, could become a nice day Wall at 80 getting eating? We haven't touched 80 on gox since 26 hours. What kind of cocktail are we talking about? Turned out to be alcohol-free;) that leaves even more questions. ;-) Haha, touché. |
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Its About Sharing
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Activity: 1442
Merit: 1000
Antifragile
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July 11, 2013, 01:33:36 PM |
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Yesterday taught me just *how* pathetic my attempts at reading the Bitcoin market are, and *how* irrelevant both TA & common sense are to this market. Trying a new strategy today. Got me some black candles burning on both sides of the monitor, crayons for drawing pentagrams & magikal symbolz, got The Lord's Prayer queued up to loop backwards in Pro Tools. As soon as my cat learns to arch his back & hiss at the chart, i'll be set for a new day of trading Every few posts I mention that when doing TA with BTC anything is possible. Don't feel bad. Had that huge buyer not come this rally would have been much shorter and not as high. Really dangerous just using TA as their are some big pocketed guys here. That said, they seem to use the entry/exit points we are following, but the violence of the moves are magnified. I stayed out on this bounce up as I didn't want to chance a big seller dumping at 68 ish... (Bad call on my part) |
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Its About Sharing
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Activity: 1442
Merit: 1000
Antifragile
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July 11, 2013, 01:36:21 PM |
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Looks like a flag forming. Don't know which way it will break.... originally thought up to 96 after another oscillation down, but this rally has me nervous. Didn't reach my target but happy to take profits at 89. All out, now dump please. Depends on the chart. The daily chart looks to be topping or reversing. The one and four hour chart looks to be some type of flag continuation pattern, meaning up... IAS |
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Miz4r
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Activity: 1246
Merit: 1000
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July 11, 2013, 01:40:45 PM |
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TA also showed a head and shoulders pattern forming and it was confirmed and completed, just look at lucif's thread. Calling manipulation as an excuse every time your personal TA interpretation doesn't work out is kinda cheap imo. Also nothing is set in stone, you're always working with probabilities and not certainties.
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Its About Sharing
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Activity: 1442
Merit: 1000
Antifragile
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July 11, 2013, 01:57:24 PM |
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On the 15 minute chart it looks like things are breaking down (or a double, tripple bottom) - 85 is key it seems. Even the 1 and 4 hour chart are dipping a bit. Interesting at this level:  |
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