BitAddict
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November 04, 2014, 04:55:20 AM
Last edit: November 04, 2014, 05:14:31 AM by BitAddict |
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Bitcoin can't even consolidate and is still fighting to not go below $266. I don't understand how some of you are claiming the next bubble is starting soon. Is not the most clear indicator of full denial?
So is depression and despair all it takes to get this bubble started. OK then. Bitcoin is dead! It is going nowhere!  (we can go up now) Words need to be followed by actions, or it doesn't mean anything. And anyway, even if we reached bottom (which maybe not) bitcoin is not probably going to rally any time soon. First it needs boring months of consolidation, where people can start forgetting how painful is going down for months. So they can start slowly gaining confidence and buying again. I thought we already have several boring months of consolidation? It has been a very long year. Going down, down and more down doing new lows in a dead cat bounce is not a consolidation. Has the Bitcoin price ever really flat lined? I think it has been fairly steady for a while. All of October was around $350. That was a rebound from a huge multi-month dump plus a failed attemp to consolidate again, so it is going down at the moment. Is not about a flatline, is about market gaining enough confidence. So market stop thinking we could make new lower lows again at any time soon. Only permabulls and bagholders believe (or try to believe) we are going to the moon at any time soon. Rest of the market is really scary to buy and hold before this downtrend is over. That's the reality. Did you hear "don't try to catch a falling knife"? |
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ChartBuddy
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November 04, 2014, 05:00:26 AM |
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Davyd05
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November 04, 2014, 05:17:21 AM |
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eating lots of coins, the Huobians'
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noobtrader
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November 04, 2014, 05:18:31 AM |
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bitfinex beartrolling real hard |
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cbeast
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Let's talk governance, lipstick, and pigs.
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November 04, 2014, 05:25:42 AM |
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Twitter was brutal on the Winklevoss twins ...  Bankers calling the Winklevii boring.  |
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noobtrader
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November 04, 2014, 05:27:47 AM |
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Shorter.... cover yor rear !!!!  |
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octaft
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November 04, 2014, 05:33:47 AM |
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Bankers calling the Winklevii boring. From what I've seen, they don't seem to be very well spoken. |
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ChartBuddy
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November 04, 2014, 06:00:26 AM |
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samsonn25
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November 04, 2014, 06:06:05 AM |
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Bitcoin can't even consolidate and is still fighting to not go below $266. I don't understand how some of you are claiming the next bubble is starting soon. Is not the most clear indicator of full denial?
So is depression and despair all it takes to get this bubble started. OK then. Bitcoin is dead! It is going nowhere! (we can go up now) Words need to be followed by actions, or it doesn't mean anything. And anyway, even if we reached bottom (which maybe not) bitcoin is not probably going to rally any time soon. First it needs boring months of consolidation, where people can start forgetting how painful is going down for months. So they can start slowly gaining confidence and buying again. I thought we already have several boring months of consolidation? It has been a very long year. Going down, down and more down doing lower lows and lower highs in a dead cat bounce is not a consolidation... is a downtrend. $205 would shake out alot of the short sellers. |
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fonzie
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November 04, 2014, 06:06:11 AM |
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Blame it on MtGox the Winklis!   |
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BitAddict
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November 04, 2014, 06:11:01 AM |
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$205 would shake out alot of the short sellers.
I guess with shake out you mean to close their positions and take their massive profit. Right? In my opinion is still too early to speak about $200, first let's see what happens with the huge support at $266. If broken there will be enough time to call for cheap prices and bear trolling. |
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WeGotCactus
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November 04, 2014, 06:27:00 AM |
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Bitcoin can't even consolidate and is still fighting to not go below $266. I don't understand how some of you are claiming the next bubble is starting soon. Is not the most clear indicator of full denial?
So is depression and despair all it takes to get this bubble started. OK then. Bitcoin is dead! It is going nowhere! (we can go up now) Words need to be followed by actions, or it doesn't mean anything. And anyway, even if we reached bottom (which maybe not) bitcoin is not probably going to rally any time soon. First it needs boring months of consolidation, where people can start forgetting how painful is going down for months. So they can start slowly gaining confidence and buying again. I thought we already have several boring months of consolidation? It has been a very long year. Going down, down and more down doing new lows in a dead cat bounce is not a consolidation. Has the Bitcoin price ever really flat lined? I think it has been fairly steady for a while. All of October was around $350. That was a rebound from a huge multi-month dump plus a failed attemp to consolidate again, so it is going down at the moment. Is not about a flatline, is about market gaining enough confidence. So market stop thinking we could make new lower lows again at any time soon. Only permabulls and bagholders believe (or try to believe) we are going to the moon at any time soon. Rest of the market is really scary to buy and hold before this downtrend is over. That's the reality. Did you hear "don't try to catch a falling knife"? Can you say more about this "failed attempt to consolidate"? Who was trying to consolidate it and why do you think they failed? Idk, this kind of language is just so tired. Most people here don't actually understand market dynamics and just repeat the same blather about pumps and dumps. I don't disagree with you though, it's a scary time to go long, but at the same time - also a scary time to short. Case in point: https://i.imgur.com/jeimauM.png(inverted Huobi) |
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BitAddict
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November 04, 2014, 06:51:32 AM |
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Can you say more about this "failed attempt to consolidate"? Who was trying to consolidate it and why do you think they failed?
Idk, this kind of language is just so tired. Most people here don't actually understand market dynamics and just repeat the same blather about pumps and dumps.
I don't disagree with you though, it's a scary time to go long, but at the same time - also a scary time to short.
I'm not saying either is a great time to short at this current level. I'm saying is time to stay in fiat and wait until we have a confirmation of where bitcoin is going. Great shorting level was at $390 after failed breakout. BitChick was the one telling bitcoin price was consolidating in October around $350, not me. I just told her bitcoin price didn't consolidate (and to be honest it didn't was able to even try it). |
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cbeast
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Let's talk governance, lipstick, and pigs.
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November 04, 2014, 06:56:00 AM |
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Can you say more about this "failed attempt to consolidate"? Who was trying to consolidate it and why do you think they failed?
Idk, this kind of language is just so tired. Most people here don't actually understand market dynamics and just repeat the same blather about pumps and dumps.
I don't disagree with you though, it's a scary time to go long, but at the same time - also a scary time to short.
I'm not saying either is a great time to short at this current level. I'm saying is time to stay in fiat and wait until we have a confirmation of where bitcoin is going. Great shorting level was at $390 after failed breakout. BitChick was the one telling bitcoin price was consolidating in October, not me. I just told her bitcoin price didn't consolidate (and to be honest it didn't was able to even try it). Unless Bitfinex goes offline when the next breakout begins. Then you will be stuck with fiat. These unregulated exchanges tend to do that during panics. |
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ChartBuddy
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November 04, 2014, 07:00:26 AM |
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BitAddict
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November 04, 2014, 07:04:37 AM |
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Unless Bitfinex goes offline when the next breakout begins. Then you will be stuck with fiat. These unregulated exchanges tend to do that during panics.
You're assuming most of my fiat is in an exchange. That would be reckless. |
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JorgeStolfi
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November 04, 2014, 07:06:48 AM |
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So the Winklevoss twins did not even mention the COIN ETF at Money 20/20, is that right? I suppose that there are restrictions about what one can say in public about an ETF before it is approved by the SEC. But they did talk a lot about it before, e.g. on BloombergTV, right? Could their silence be somehow related to the alleged freezing of SMBIT by the SEC? |
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BitAddict
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November 04, 2014, 07:10:48 AM |
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So the Winklevoss twins did not even mention the COIN ETF at Money 20/20, is that right? I suppose that there are restrictions about what one can say in public about an ETF before it is approved by the SEC. But they did talk a lot about it before, e.g. on BloombergTV, right? Could their silence be somehow related to the alleged freezing of SMBIT by the SEC? It could be. Probably still a long way to go until proper bitcoin regulation and SEC approval, though. ETF for mid 2015? (if approved) |
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