molecular
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December 24, 2013, 12:07:23 PM |
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The downtrend line is at ~ $700 (gox). It's broken. The longer this remains the case the higher the probability of a trend change.
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PGP key molecular F9B70769 fingerprint 9CDD C0D3 20F8 279F 6BE0 3F39 FC49 2362 F9B7 0769
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accord01
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December 24, 2013, 12:11:41 PM |
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The downtrend line is at ~ $700 (gox). It's broken. The longer this remains the case the higher the probability of a trend change.
Not anymore. It went above 700 for a little while on no volume. |
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shmadz
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@theshmadz
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December 24, 2013, 03:35:00 PM |
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The downtrend line is at ~ $700 (gox). It's broken. The longer this remains the case the higher the probability of a trend change.
Not anymore. It went above 700 for a little while on no volume. 700 is looking more significant than I originally thought. Price broke above, but could not reach 750+ level escape velocity. Price breaks below, but quickly returns to test 700 as resistance once again... Market seems undecided. |
"You have no moral right to rule us, nor do you possess any methods of enforcement that we have reason to fear." - John Perry Barlow, 1996
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cAPSLOCK
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"DO NOT FUNGE >:( >:( "
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December 24, 2013, 09:54:43 PM |
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The downtrend line is at ~ $700 (gox). It's broken. The longer this remains the case the higher the probability of a trend change.
Not anymore. It went above 700 for a little while on no volume. 700 is looking more significant than I originally thought. Price broke above, but could not reach 750+ level escape velocity. Price breaks below, but quickly returns to test 700 as resistance once again... Market seems undecided. 30 day view seems pretty sure of itself... It seems to me that this post pop price discovery is going about as well as it could. |
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Wekkel
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yes
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December 25, 2013, 08:01:09 AM |
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I understand bitcoin and I'm looking to get as many coins as I can with a given amount of fiat
Then put in orders @ $350 and wait what happens. was looking for something more technical rather than glib I was thinking about this.  At this moment a sell off enough to take some risk but uncertain whether we will get there soon (if ever). A main rule of trading is 'when in doubt, don't do anything'. |
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molecular
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December 25, 2013, 09:59:28 AM |
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I understand bitcoin and I'm looking to get as many coins as I can with a given amount of fiat
Then put in orders @ $350 and wait what happens. was looking for something more technical rather than glib I was thinking about this. At this moment a sell off enough to take some risk but uncertain whether we will get there soon (if ever). A main rule of trading is 'when in doubt, don't do anything'. A lot of people here expect what you charted. Therefore it might not happen. Market tends to move in the direction of most pain. |
PGP key molecular F9B70769 fingerprint 9CDD C0D3 20F8 279F 6BE0 3F39 FC49 2362 F9B7 0769
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TERA
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December 25, 2013, 10:02:26 AM |
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If you're having trouble predicting things with charts it's because China is screwing around with btc again - no way to predict what'll happen. I can't wait till their government just shuts down the exchanges.
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F-bernanke
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December 25, 2013, 10:04:28 AM |
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If you're having trouble predicting things with charts it's because China is screwing around with btc again - no way to predict what'll happen. I can't wait till their government just shuts down the exchanges.
+1, It's way to risky to have a commie socialist government have this much control over BTC. |
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thefiniteidea
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December 25, 2013, 03:16:30 PM |
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I understand bitcoin and I'm looking to get as many coins as I can with a given amount of fiat
Then put in orders @ $350 and wait what happens. was looking for something more technical rather than glib I was thinking about this. At this moment a sell off enough to take some risk but uncertain whether we will get there soon (if ever). A main rule of trading is 'when in doubt, don't do anything'. A lot of people here expect what you charted. Therefore it might not happen. Market tends to move in the direction of most pain. This is the truth. |
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phoenix1
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December 25, 2013, 03:22:03 PM |
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<snip>
Market tends to move in the direction of most pain.
This is the truth. It is indeed ... but who really knows where the direction of most pain lies ?? We will find out in time, and not without a few more traps on the way ... |
"Before you embark on a journey of revenge, dig two graves" - Confucius (China 551BC-479 BC)
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MAbtc
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December 25, 2013, 07:52:49 PM
Last edit: December 25, 2013, 08:36:51 PM by MAbtc |
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I understand bitcoin and I'm looking to get as many coins as I can with a given amount of fiat
Then put in orders @ $350 and wait what happens. was looking for something more technical rather than glib I was thinking about this. At this moment a sell off enough to take some risk but uncertain whether we will get there soon (if ever). A main rule of trading is 'when in doubt, don't do anything'. A lot of people here expect what you charted. Therefore it might not happen. Market tends to move in the direction of most pain. A lot of people here expect > $1k and ATHs next month, and that the rocket will take off by the new year. So it's difficult to use this as an indicator of sentiment. Many people were very sure that $576 was the bottom as well. |
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molecular
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December 25, 2013, 09:10:13 PM |
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I understand bitcoin and I'm looking to get as many coins as I can with a given amount of fiat
Then put in orders @ $350 and wait what happens. was looking for something more technical rather than glib I was thinking about this. At this moment a sell off enough to take some risk but uncertain whether we will get there soon (if ever). A main rule of trading is 'when in doubt, don't do anything'. A lot of people here expect what you charted. Therefore it might not happen. Market tends to move in the direction of most pain. A lot of people here expect > $1k and ATHs next month, and that the rocket will take off by the new year. So it's difficult to use this as an indicator of sentiment. Many people were very sure that $576 was the bottom as well. Yeah, that's true. We can't draw any reliable conclusion from that. Phoenix1 is right, though: we'll find out. |
PGP key molecular F9B70769 fingerprint 9CDD C0D3 20F8 279F 6BE0 3F39 FC49 2362 F9B7 0769
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masterluc
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December 26, 2013, 03:14:58 AM |
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2017orso
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December 26, 2013, 03:20:36 AM |
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@ masterluc
certainly, markets atm, not a good idea. still curious why this means btc price may crash in relation, and not simply experience relatively slower growth as a result?
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Macno
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December 26, 2013, 03:23:48 AM |
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Yeah, whats the point of that ZH article? Nothing to do with Bitcoin.
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ElectricMucus
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Marketing manager - GO MP
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December 26, 2013, 03:26:30 AM |
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Yeah, whats the point of that ZH article? Nothing to do with Bitcoin.
The point is the correlation lucif pointed out in the past. Read the previous posts. |
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masterluc
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December 26, 2013, 03:28:18 AM |
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The point is money printing shrinks by $10 bln a month (bitcoin market cap)
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YoYa
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December 26, 2013, 03:32:41 AM |
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Yeah, whats the point of that ZH article? Nothing to do with Bitcoin.
Er...everything to do with everything, markets and economies are entwined no matter how you call it. BTC will be held up and valued in comparison with shrinking markets, and will either be deigned not worth the risk so no inflow....or as a good hedge so inflow. Of course ZH always lose me when they pull something like this....   |
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Macno
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December 26, 2013, 03:33:03 AM |
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And how does FED tapering affect the Bitcoin Market Cap?
Edit: seriously, this is ridiculous. Bitcoin is way to small and irrelevant to the forces you are trying to compare it to. One tweet by Snoop Dogg has more effect on the price of Bitcoin than what the FED does. You should rather stick to your waves.
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