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xulescu
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April 16, 2014, 01:52:10 PM |
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This isn't about banning bitcoin. It's about segregating it from the fiat banking system. People are free to use the bitcoin technology but not pay an exchange with their bank account.
That is NOT the policy of the PBoC. It is a rumor. So far it appears to be a false rumor. aminorex, what's your opinion about Epsilon Theory? I'm asking because you mentioned De Mesquita earlier. |
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ChartBuddy
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Merit: 1779
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April 16, 2014, 02:00:19 PM |
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rudius
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April 16, 2014, 02:24:12 PM |
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Most of the articles are things we already know about.
April 10 - "Bitcoin is not banned in China" - We already knew that.
April 16 - "Huobi's bank account being closed" - We knew that too.
Yet somehow people's sentiments change every time because they were operating under some flawed logic.
 Couldn t explained better my thougths ^^ |
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pjviitas
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April 16, 2014, 02:33:31 PM |
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Most of the articles are things we already know about.
April 10 - "Bitcoin is not banned in China" - We already knew that.
April 16 - "Huobi's bank account being closed" - We knew that too.
Yet somehow people's sentiments change every time because they were operating under some flawed logic.
people here use logic? +1 If someone could explain to me how logic has anything to do with what's going on here that would be great. |
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dreamspark
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April 16, 2014, 02:40:55 PM |
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I think the longer we stay without really going below $500 the more bullish it becomes, could cement $500 as a base if there is another quick move up.
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jonoiv
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April 16, 2014, 02:45:46 PM |
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 I was wrong about the 3220 wall, it was broken with more bullish sentiment than expected. But the chart I posted yesterday is still following the same pattern, just at a slightly higher price than expected. we are in a very similar situation to march 4th / 5th at the moment, and the markets are behaving almost exactly the same. Not many interested in buying in this uncertain climate, so the best guess I can form is, the same as what happened in march. I think we will settle at around 490 and go sideways again... until the volume goes very low. All this can change, based on (valid) news or well executed FUD. (positive or negative). A simplistic way of looking at the market, yet quite often effective. History repeats itself imho. |
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Davyd05
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April 16, 2014, 02:47:14 PM |
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2h macd crossed front running day traders, are going to get burned if someone starts unloading fiat cannons gotta love those lagging indicators...makes for a nice firework show.
getting a lil crispy |
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rudius
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Activity: 84
Merit: 10
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April 16, 2014, 02:48:08 PM |
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I was wrong about the 3220 wall, it was broken with more bullish sentiment than expected. But the chart I posted yesterday is still following the same pattern, just at a slightly higher price than expected. we are in a very similar situation to march 4th / 5th at the moment, and the markets are behaving almost exactly the same. Not many interested in buying in this uncertain climate, so the best guess I can form is, the same as what happened in march. I think we will settle at around 490 and go sideways again... until the volume goes very low. All this can change, based on (valid) news or well executed FUD. (possessive or negative). A simplistic way of looking at the market, yet quite often effective. History repeats itself imho. You are half right. Looking at the volume, this rally was sustained a lot more than back in mars. |
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dreamspark
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April 16, 2014, 02:49:45 PM |
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I was wrong about the 3220 wall, it was broken with more bullish sentiment than expected. But the chart I posted yesterday is still following the same pattern, just at a slightly higher price than expected. we are in a very similar situation to march 4th / 5th at the moment, and the markets are behaving almost exactly the same. Not many interested in buying in this uncertain climate, so the best guess I can form is, the same as what happened in march. I think we will settle at around 490 and go sideways again... until the volume goes very low. All this can change, based on (valid) news or well executed FUD. (possessive or negative). A simplistic way of looking at the market, yet quite often effective. History repeats itself imho. I agree that the charts look similar but from what I can remember the sentiment from then is different to it was now. There was much more unceratinty hanging in the air in March with Gox just closing, also when that rise took place over the space of a few hours it felt very fake with the constant few walls pushing the price up. The rise over the last couple of days does feel different and not orchestrated by a whale or two so much. Just a feeling. |
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Broseph Stalin
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April 16, 2014, 02:50:06 PM |
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It's now 10:47 AM in New York. My experience is that we see the next round of volume start to come in sometime between now and 4-5 PM NY time. Lunch time and evening.
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dreamspark
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April 16, 2014, 02:51:15 PM |
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I bet a lot of people opened shorts as well expecting a bigger retrace. They will quickly jump back in once/if the rally starts.
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Bitcoin_is_here_to_stay
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April 16, 2014, 02:51:42 PM |
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I was wrong about the 3220 wall, it was broken with more bullish sentiment than expected. But the chart I posted yesterday is still following the same pattern, just at a slightly higher price than expected. we are in a very similar situation to march 4th / 5th at the moment, and the markets are behaving almost exactly the same. Not many interested in buying in this uncertain climate, so the best guess I can form is, the same as what happened in march. I think we will settle at around 490 and go sideways again... until the volume goes very low. All this can change, based on (valid) news or well executed FUD. (possessive or negative). A simplistic way of looking at the market, yet quite often effective. History repeats itself imho. You are half right. Looking at the volume, this rally was sustained a lot more than back in mars. Hmm, I get opposite impression - very similar price pattern, but even lower volume than in March. |
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rjp55
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April 16, 2014, 02:53:02 PM |
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I was wrong about the 3220 wall, it was broken with more bullish sentiment than expected. But the chart I posted yesterday is still following the same pattern, just at a slightly higher price than expected. we are in a very similar situation to march 4th / 5th at the moment, and the markets are behaving almost exactly the same. Not many interested in buying in this uncertain climate, so the best guess I can form is, the same as what happened in march. I think we will settle at around 490 and go sideways again... until the volume goes very low. All this can change, based on (valid) news or well executed FUD. (possessive or negative). A simplistic way of looking at the market, yet quite often effective. History repeats itself imho. So history repeats itself until when? We go to zero? |
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dreamspark
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April 16, 2014, 02:57:03 PM |
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Hmm, I get opposite impression - very similar price pattern, but even lower volume than in March.
eh? Are you looking at the same chart? In the last box shown on the chart we have seen most days at 7k+ Look back at March and there was a couple of high volume days then the volume was almost non existent for a week or so and then that whale day spiked the price. Much higher and much more consistent volume over the last week or so. |
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Richy_T
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April 16, 2014, 02:57:07 PM |
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Tax filing deadline yesterday in the US. A few days for refunds to get to accounts, another few days to get to an exchange...
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ChartBuddy
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April 16, 2014, 03:00:19 PM |
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envy2010
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April 16, 2014, 03:00:55 PM |
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x filing deadline yesterday in the US. A few days for refunds to get to accounts, another few days to get to an exchange... Most people expecting refunds already have them. Yesterday was for the people paying net taxes. |
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FNG
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April 16, 2014, 03:34:45 PM |
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It's now 10:47 AM in New York. My experience is that we see the next round of volume start to come in sometime between now and 4-5 PM NY time. Lunch time and evening.
Agreed. I normally go to sleep slightly disappointed that the bull move had ended to only wake up to an upwardly move. 10:30pm here |
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hdbuck
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April 16, 2014, 03:43:36 PM |
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ok so we've just touched the upper resistance @550 today and didnt break it, so down we go.. the only question is what will drive the price further down... i wouldnt be surprised if we have some new leak from the PBOC in the coming weeks ^^
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rudius
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April 16, 2014, 03:48:31 PM |
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ok so we've just touched the upper resistance @550 today and didnt break it, so down we go.. the only question is what will drive the price further down... i wouldnt be surprised if we have some new leak from the PBOC in the coming weeks ^^
Wait for price action before betting for the trend. I don t know if we are going down or up but i do know that currently we haven t seen any reject of the trendline whereas we ve seen a violent reject on the downside of the triangle. Wait and see |
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