Not that anyone here gives a shit about technical analysis except when it confirms their biases, but whatever.
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When it is going down you can trace a trend line going down!
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Bitcoin Forum > Economy > Economics > Speculation > Post reply ( Re: Wall Observer BTC/USD - Bitcoin price movement tracking & discussion )
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Posted on: Today at 11:33:27 AM New message Posted by: Blitz
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Bitstamp is higher than Bitfinex. Think on that. Shocked
Posted on: Today at 11:32:58 AM Posted by: TERA
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Guys chill out it's not just going to break through both of these supports in one go right away, right here where they are intersecting. I think if they break then it will break them both separately on separate occasions starting in at least a couple weeks.
Posted on: Today at 11:31:08 AM Posted by: roslinpl
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I think ++ is coming.
Just compare a volume with a price - and you will understand, that we will have ++ to a price very soon Smiley
And even another China Ban will not change it Wink
Posted on: Today at 11:28:58 AM Posted by: Blitz
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It's a really tiresome statement. You do lose if the price goes down and you haven't realized the loss. You have fewer options now. You have no access to your former wealth and your purchasing power has declined. Will it be undone in the future? Maybe. But you are trapped in the present.
Remember, everything is still denominated in FILTHY FIAT.
Posted on: Today at 11:25:37 AM Posted by: Miz4r
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Quote from: samsonn25 on Today at 11:17:41 AM
Quote from: Miz4r on Today at 11:14:42 AM
I just bought some coins at $555, I think we're going up from here. If we break convincingly below 530 on Stamp I will take my losses.
You only lose If you sell lower than purchase price
Yes thanks captain obvious. But if we break below 530 we will go back to 450 and maybe lower so I'm not going to keep holding this bag through that. I have other bags I'm still holding though, but they're $100/coin bags so not as heavy. Wink
Posted on: Today at 11:22:44 AM Posted by: Blitz
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Not that anyone here gives a shit about technical analysis except when it confirms their biases, but whatever.
(
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Posted on: Today at 11:21:04 AM Posted by: Tzupy
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Quote from: JorgeStolfi on Today at 11:03:31 AM
Quote from: sidhujag on Today at 04:50:56 AM
So essentially we can say either China has 10x more interest than the rest of the world or the numbers are cooked up if usd is isolated from yuan or rmb. What I care about is money coming out of fiat and into btc.
I am not sure what you mean, but: from all I have read, I am quite convinced that the November rally was entirely due to demand in the Chinese exchanges. Ditto for the December crash and partial recovery, the decline from February to April, the stagnation in May, and the the mini-rally a couple weeks ago. Not sure yet about the current decline, but it seems to have coinided with a new push to cut out the remaining channels of yuan deposit to the exchanges.
I don't know how many coins are still in the hands of Chinese speculators and investors, but, if the markets there were to close and those coins returned to the Western market (which they probably would, since speculation seems to be the last significant utility of bitcoin in China), I am quite convinced that the price would drop to somewhere between 80$ (an estimate of where it would be if China had never entered the game) and 350$ (which it briefly reached after one of the PBoC scares).
As for Mr. Lee's claims: his exchange BTC-China used to have the largest volume in China until the December crash. Since that time it has become insignificant, while Huobi, OKCoin, and the other Nameless Ones became dominant. (Huobi in particular seems to have bumped its volume just when BTC-China suddenly lost theirs). I watched that video and heard the claims, but did not see the evidence. His being elected to the board of the Shrem Karpelès & Friends Foundation, together with Mr. Pierce, did not help convince me.
A few comments: the November 'rally' was the mania phase of the bubble, it would have happened anyway, but several months later.
The Chinese mania could have lasted a bit longer if the PBoC wouldn't have decided to cut the funding to the exchanges.
But the PBoC doesn't want to create a massive bitcoin crash, because of the potential social unrest associated with such a crash.
So for now the Chinese exchanges are in limbo IMO, they can't truly fund another significant uptrend, but don't want to start capitulation yet.
I already expressed my opinion that the closure of Chinese exchanges could drive the price to 100$ or below.
However, they seem to plan a move outside the jurisdiction of the PBoC, which may be a turbulent market period, because
they can easily transfer bitcoins from servers in mainland China, but customers' yuan could be tough to transfer to a new friendlier home.
Posted on: Today at 11:20:35 AM Posted by: bitgeek
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Quote from: samsonn25 on Today at 11:17:41 AM
Quote from: Miz4r on Today at 11:14:42 AM
I just bought some coins at $555, I think we're going up from here. If we break convincingly below 530 on Stamp I will take my losses.
You only lose If you sell lower than purchase price
That's right, just buy and hold,it will eventually get back up. The only losers in bitcoin are those who react to FUD.
Posted on: Today at 11:20:11 AM Posted by: Blitz
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Quote from: Miz4r on Today at 11:14:42 AM
I just bought some coins at $555, I think we're going up from here. If we break convincingly below 530 on Stamp I will take my losses.
Short term, there's a descending wedge in process, plus bullish divergences in MACD/RSI in various timeframes, and declining volume. I don't think there is much selling power left even if we take out the former low, but medium term is another story.
Posted on: Today at 11:17:41 AM Posted by: samsonn25
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Quote from: Miz4r on Today at 11:14:42 AM
I just bought some coins at $555, I think we're going up from here. If we break convincingly below 530 on Stamp I will take my losses.
You only lose If you sell lower than purchase price
Posted on: Today at 11:14:42 AM Posted by: Miz4r
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I just bought some coins at $555, I think we're going up from here. If we break convincingly below 530 on Stamp I will take my losses.
Posted on: Today at 11:14:10 AM Posted by: fonzie
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Quote from: deadley on Today at 11:11:59 AM
Quote from: tarmi on Today at 10:40:58 AM
buhahaha, all the bears already talking about 300~400, and they didnt break not even the 540 support yet. at the weekend day.
Dont you think its normal phenomena, when we going upside we talk about only upside and when we going downside then its same we talk only downside.
The difference between bulls and bears in runups or crashes is that bulls laugh about bears and insult them whereas bears mostly just laugh about Bitcoin.
Posted on: Today at 11:11:59 AM Posted by: deadley
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Quote from: tarmi on Today at 10:40:58 AM
buhahaha, all the bears already talking about 300~400, and they didnt break not even the 540 support yet. at the weekend day.
Dont you think its normal phenomena, when we going upside we talk about only upside and when we going downside then its same we talk only downside.
Posted on: Today at 11:03:31 AM Posted by: JorgeStolfi
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Quote from: sidhujag on Today at 04:50:56 AM
So essentially we can say either China has 10x more interest than the rest of the world or the numbers are cooked up if usd is isolated from yuan or rmb. What I care about is money coming out of fiat and into btc.
I am not sure what you mean, but: from all I have read, I am quite convinced that the November rally was entirely due to demand in the Chinese exchanges. Ditto for the December crash and partial recovery, the decline from February to April, the stagnation in May, and the the mini-rally a couple weeks ago. Not sure yet about the current decline, but it seems to have coinided with a new push to cut out the remaining channels of yuan deposit to the exchanges.
I don't know how many coins are still in the hands of Chinese speculators and investors, but, if the markets there were to close and those coins returned to the Western market (which they probably would, since speculation seems to be the last significant utility of bitcoin in China), I am quite convinced that the price would drop to somewhere between 80$ (an estimate of where it would be if China had never entered the game) and 350$ (which it briefly reached after one of the PBoC scares).
As for Mr. Lee's claims: his exchange BTC-China used to have the largest volume in China until the December crash. Since that time it has become insignificant, while Huobi, OKCoin, and the other Nameless Ones became dominant. (Huobi in particular seems to have bumped its volume just when BTC-China suddenly lost theirs). I watched that video and heard the claims, but did not see the evidence. His being elected to the board of the Shrem Karpelès & Friends Foundation, together with Mr. Pierce, did not help convince me.
Posted on: Today at 11:00:57 AM Posted by: ChartBuddy
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https://ip.bitcointalk.org/?u=http%3A%2F%2Fwww.rtcons.com%2Fwall%2Fbitstamp.16236.10.small.png%3F1%3D2&t=541&c=2DNfYdXFn7Yy7Q) (FORUM: disabled on this page for security.) (
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Posted on: Today at 10:40:58 AM Posted by: tarmi
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buhahaha, all the bears already talking about 300~400, and they didnt break not even the 540 support yet. at the weekend day.
Posted on: Today at 10:40:04 AM Posted by: fonzie
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This has nothing at all to do with the FBI Coins. !
Posted on: Today at 10:37:23 AM Posted by: yrtrnc
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There's alot going for BTC right now. I dont see the news about FBI really affecting the market anymore than this. If anything it should be seen as positive. Since the US government has once again accepted BTC.
Posted on: Today at 10:33:43 AM Posted by: fonzie
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GHashinese Torpedo hits USS Bitcoin. Lot more to come! Admiral Finex already wounded!
Posted on: Today at 10:27:47 AM Posted by: samsonn25
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Yes long term. This Has Been Established and tested many times since last year. Of course short term there are higher support levels.
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