ElectricMucus
Legendary
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Activity: 1666
Merit: 1057
Marketing manager - GO MP
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December 27, 2013, 01:11:51 AM |
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It really baffles me that after one month of Chinese madness we still don't have a single english speaking Chinese here in the forums telling us how it is over there..
Are they blocked/not allowed to browse to the forum ?? What about TOR ? There's gotta be more than a couple english speaking chinese out there... Not a single one here? Cmon...
Are you here man from China? Speak up!
Don't you guys think it's fishy at the very least?
No. It was all pump hype by a few Amurikans who traded w themselves, creating 99% of the volume on chinese exchanges. Occams Razor is a too complicated instrument for most Bitcoiners.
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NewLiberty
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Activity: 1204
Merit: 1002
Gresham's Lawyer
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December 27, 2013, 01:13:19 AM |
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China price has caught up with Stamp. Last time these two came together they diverged to the downside. My hope is BTCChina is back in the driver's seat and we see a huge rally from China to Choo Choo past the gox price.
get with the program it is huboi..driving this crazy train There is solid unidirectional arbitrage happening with china if you are following price and volume. (getting money in to PRC and btc out is easy, the opposite isn't) so btcchina should have pretty solid flooring. It could be a drag on the upside moves or lead, but should not be seeing it so much below again.
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OldGeek
Sr. Member
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Activity: 266
Merit: 250
Blitz:The price affects the perception of the news
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December 27, 2013, 01:14:19 AM |
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I'm up for it!!! I've just sold a chunk of my position. China is obviously a wild card. But looking at true range and volatility indicators on daily candles, I think this rally is lacking momentum. Chaikin money flow shows sell pressure bias for the first time in months. StochRSI is in "truly" overbought territory (>90). Aroon still in down trend, though MACD signal line looks to cross soon..... very uncertain times..... hoping this short term double top doesn't fail me..... But hey, I'm having fun! While my work product suffers.... You know I'm a bull, but I tend to agree with you. At least short-term.
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OldGeek
Sr. Member
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Activity: 266
Merit: 250
Blitz:The price affects the perception of the news
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December 27, 2013, 01:17:04 AM |
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FLASH! Bull and Bear agree. Huge dump coming. Sell now.
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undeadbitcoiner
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December 27, 2013, 01:17:52 AM |
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If you have never used Silkroad 1.0 in your life, you are not a true bitcoiner. this is waht I exactly hate, so you think we are junks ? using drugs is one thing and using bitcoin is another thing, I am so happy that they took SR down, I hate when people start talking about "body freedom" and all that shit, do you have kids ? or let me put it this way, when you will have kids I would love to know what you think about your kid wasting his life with using drugs and I would love to know how would you feel looking at him, would you still think "yes freedom" so what do you think about child porn ? also normal ? man I hate these people.... What about those who saved life with drugs they would not otherwise easily have been able to procure? Why do folks always focus on the worst cases? Drug abuse is bad, we agree. Having an epipen available when someone is having an allergic reaction can save a life in minutes, especially in rural areas. Doea child porn even still exist? I thought that was just a LEO bugaboo after the anonymous collective DDoS'd all those into oblivion and off the darknet. TYVM Bitcoin is anonymus transaction but it doesnt mean we use it for illigal things and drugs, Lets make it ligal, We are not in the way of fast and fast we have a long run so we have to run our business and our bitcoin investment in ligal way. Thanks
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aminorex
Legendary
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Activity: 1596
Merit: 1030
Sine secretum non libertas
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December 27, 2013, 01:41:26 AM |
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Nice 1-year candle is forming Market has peaked, sell-off incoming Looks like the same pattern as 2011. 2014 should look like 2012 in that case.
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pdawg
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December 27, 2013, 01:41:50 AM |
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...and cue consolidation: This may drift lower while we are in this consolidation zone.
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thefunkybits
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Activity: 1218
Merit: 1000
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December 27, 2013, 01:43:29 AM |
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Does anyone else think this rise is lacking significant volume?
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OldGeek
Sr. Member
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Activity: 266
Merit: 250
Blitz:The price affects the perception of the news
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December 27, 2013, 01:45:17 AM |
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Yes.
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aminorex
Legendary
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Activity: 1596
Merit: 1030
Sine secretum non libertas
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December 27, 2013, 01:46:26 AM |
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Does anyone else think this rise is lacking significant volume?
Ever since 18 November, the only time that there is above average volume is when it is selling off. All the buying is being done by stealth, one coin at a time.
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CoinDox
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December 27, 2013, 01:47:07 AM |
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Let me throw this out there... This is based off of the actions of the major players who absorbed the fall during the last decline and bought at 450-550 range.
First, what is the unwritten golden rule of large stake investing? Double up, sell half, recoup original investment, let it ride, sell off in stages into buying pressure. Unwelcome news aside, this is exactly what I have been witnessing. We rise 20$ on X volume, and fall 10$ on XXX volume in the last few days. We just hit 800, which is fairly close to the 2X mark for those who got in on the last bottom. This means a large volume sell-off into what hopefully is sufficient buy pressure is happening right now - hence the triple nipple or whatever the hell you technical guys call it.
From here, the major market driver is the money sitting on the side-lines that was made during the last run-up in price for those who sold above 750-950. This money has been cautiously buying in over the last little while, and now that the selling pressure from the double up crowd is at it's peak, the market is left in the hands of the speculators.
Honestly, up or down is anyone's guess at this point. I would say it is A, but then someone will say B. We just have to place our bets and let the horses run in the short term.
Now please, feel free to dissect my comment at length and cut me up. After-all, what the hell do we know? No one with any real knowledge of the players involved would help others make the "right" decision if it will cost them more than a dime - humans just don't work that way MOST OF THE TIME. Pretty much each comment here can be read between the lines as - this is my position currently in the market and here are the reasons why I hope it is the right one.
I am all for the Asian spirit - LET US GAMBLE
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pdawg
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December 27, 2013, 01:48:06 AM |
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Does anyone else think this rise is lacking significant volume?
one thing I've learned... Don't discount the "melt ups". Seems like we get chunks of large buys then price levitates upwards. Lack of supply in the order book is all.
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MAbtc
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December 27, 2013, 01:48:37 AM |
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Does anyone else think this rise is lacking significant volume?
Ever since 18 November, the only time that there is above average volume is when it is selling off. All the buying is being done by stealth, one coin at a time. I wouldn't expect buy volume on rallies to compare to sell volume during sell-offs. But the point remains.
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CoinDox
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December 27, 2013, 01:49:48 AM |
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Does anyone else think this rise is lacking significant volume?
Ever since 18 November, the only time that there is above average volume is when it is selling off. All the buying is being done by stealth, one coin at a time. Or through back-room deals off-exchange...
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pdawg
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December 27, 2013, 01:50:59 AM |
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Does anyone else think this rise is lacking significant volume?
Ever since 18 November, the only time that there is above average volume is when it is selling off. All the buying is being done by stealth, one coin at a time. I wouldn't expect buy volume on rallies to compare to sell volume during sell-offs. But the point remains. Agreed, usually volume capitulates when the "dumb" money collides with the "smart" money... look at a 12 hour charts, and bottoms are always confirmed with a nice build up of volume.
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sir faps
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Activity: 91
Merit: 10
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December 27, 2013, 01:53:56 AM |
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this low volume makes me nervous
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thefunkybits
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Activity: 1218
Merit: 1000
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December 27, 2013, 01:59:04 AM |
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I had originally set my targets for the end of the "bulltrap phase" for around $800 BTC/$25 LTC and we are here now (of course I sold off too early) . Seems like alot of bullish sentiment here and talk of a trend reversal, but the volume doesn't seem to support it. If it is a trend reversal there will have to be some consolidation at a lower price I would think.
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adamstgBit
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Activity: 1904
Merit: 1037
Trusted Bitcoiner
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December 27, 2013, 02:01:15 AM |
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vdcc
Member
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Activity: 67
Merit: 10
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December 27, 2013, 02:04:13 AM |
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Does anyone else think this rise is lacking significant volume?
Ever since 18 November, the only time that there is above average volume is when it is selling off. All the buying is being done by stealth, one coin at a time. Or through back-room deals off-exchange... But that wouldn't cause the price to go up...
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OldGeek
Sr. Member
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Activity: 266
Merit: 250
Blitz:The price affects the perception of the news
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December 27, 2013, 02:05:08 AM |
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lol Adam is getting ready to gut some pigs.
The consolidation may have occurred in the 650-700 range.
Keep in mind that many of the US traders are on holiday, so not sure if what we are seeing will last.
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