Analysis

[hdbuck]

Good luck trading on feelings.

Believe it or not, there are risk vs reward calculations and entry and exit points behind my strategy. I'm trading on a combination of TA, sentiment and experience with how the Bitcoin market works.

You can't rule out feelings. Supply and demand is greatly influenced by feelings.

But I don't want to hijack the Master's thread so I'll stop there

i think this is right. you cant only rely on technical analysis, and especially in immature markets.

also, i'd like to summon the master, if he could give us a hint of his view short term wise that would be highly appreciated!

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[odin.dillinger]

Considering we slid past the strong support @ 255 I too humbly summon The Master. Are we going sub 200 again? was the 150ish in January not the bottom? Could this xt/fork thing make bitcoin into a so-called "shitcoin"?(Lucs words, but I mean a loosing altcoin, per Satoshis thoughts on competing blockchains, i.e they will lose to the biggest chain)
So many questions, so few crystal ball.

[thefiniteidea]

We're at $255 now... If we break $245 then we're going to $220... then $200 by September, etc...

I don't like the technicals or the fundamentals, not just Bitcoin, but the overall global market.

I don't think we can focus on just how Bitcoin is going to do over the next few months, because I think the outside market will place more pressures on BTC price, like safety to dollar, than the internal pressures of Bitcoin, like this maxblocksize, XT debate.

[Tzupy]

The market needs to test a bottom on high volume, similar to the one in April. Then we can go up a bit, before starting another capitulation.

[windjc]

We're at $255 now... If we break $245 then we're going to $220... then $200 by September, etc...

I don't like the technicals or the fundamentals, not just Bitcoin, but the overall global market.

I don't think we can focus on just how Bitcoin is going to do over the next few months, because I think the outside market will place more pressures on BTC price, like safety to dollar, than the internal pressures of Bitcoin, like this maxblocksize, XT debate.

There is no correlation between btc price and stock price, currency prices or precious metal prices. The graphs show none, despite the on going attempts of people to try to draw parallels.

[hdbuck]

We're at $255 now... If we break $245 then we're going to $220... then $200 by September, etc...

I don't like the technicals or the fundamentals, not just Bitcoin, but the overall global market.

I don't think we can focus on just how Bitcoin is going to do over the next few months, because I think the outside market will place more pressures on BTC price, like safety to dollar, than the internal pressures of Bitcoin, like this maxblocksize, XT debate.

There is no correlation between btc price and stock price, currency prices or precious metal prices. The graphs show none, despite the on going attempts of people to try to draw parallels.

think bigger. think deeper. think next worldwide financial disaster.

[windjc]

We're at $255 now... If we break $245 then we're going to $220... then $200 by September, etc...

I don't like the technicals or the fundamentals, not just Bitcoin, but the overall global market.

I don't think we can focus on just how Bitcoin is going to do over the next few months, because I think the outside market will place more pressures on BTC price, like safety to dollar, than the internal pressures of Bitcoin, like this maxblocksize, XT debate.

There is no correlation between btc price and stock price, currency prices or precious metal prices. The graphs show none, despite the on going attempts of people to try to draw parallels.

think bigger. think deeper. think next worldwide financial disaster.

yeah ok.

[inca]

The market needs to test a bottom on high volume, similar to the one in April. Then we can go up a bit, before starting another capitulation.

Down, down, down eh? At least you are consistent.

Not sure why you still do not see the high volume capitulation at 160 followed by a series of extremely obvious higher lows and major higher highs.

[Tzupy]

The market needs to test a bottom on high volume, similar to the one in April. Then we can go up a bit, before starting another capitulation.

Down, down, down eh? At least you are consistent.

Not sure why you still do not see the high volume capitulation at 160 followed by a series of extremely obvious higher lows and major higher highs.

Well, this is NOT similar to April, holy shit, I am so glad I didn't place any buy orders at 230$ as I planned!!!

PS. inca couldn't have chosen a worse timing for his damage control...

[wpalczynski]

I guess the XT issue wasnt priced in.  WOW. 

[pinky]

I guess the XT issue wasnt priced in.  WOW. 

It was more like an attack on ~30 mil leverage positions on bfx. Many people lost, one guy earned millions.

[wpalczynski]

I guess the XT issue wasnt priced in.  WOW. 

It was more like an attack on ~30 mil leverage positions on bfx. Many people lost, one guy earned millions.

Even so, the optics of this are terrible for ppl sitting on the sidelines....

[smoothie]

Waiting for the master's input on this recent drop........

[wpalczynski]

Waiting for the master's input on this recent drop........

going by TA and numbers im sure it invalidates the hell out of everything but after all... this is bitcoin so who knows

[Han]

Waiting for the master's input on this recent drop........

going by TA and numbers im sure it invalidates the hell out of everything but after all... this is bitcoin so who knows

Not even 5AM yet in Ukraine, could take a while . . .

[wpalczynski]

Waiting for the master's input on this recent drop........

going by TA and numbers im sure it invalidates the hell out of everything but after all... this is bitcoin so who knows

Not even 5AM yet in Ukraine, could take a while . . .

Even if we rebound back assuming this was all stop losses on longs the optics of this are horrible.  To go from 250 to 162 in a matter of minutes ... i mean I dont think BRE-X stock fell so drastically % wise during its capitulation.

[wpalczynski]

Devs are holding Bitcoin hostage.  How is that for decentralized.  One side censoring everything, other side threatening to crash the network. http://www.ibtimes.co.uk/coinwallet-plans-bitcoin-dust-attack-september-create-30-day-transaction-backlog-1515981

[smoothie]

Devs are holding Bitcoin hostage.  How is that for decentralized.

Get your facts straight. No devs are holding Bitcoin hostage. The free market will always win out.

 

[wpalczynski]

Devs are holding Bitcoin hostage.  How is that for decentralized.

Get your facts straight. No devs are holding Bitcoin hostage. The free market will always win out.

 

Difference of opinion I guess.  People entrusted with this responsibility should work harder to achieve a consensus amongst themselves.

[brg444]

Devs are holding Bitcoin hostage.  How is that for decentralized.  One side censoring everything, other side threatening to crash the network. http://www.ibtimes.co.uk/coinwallet-plans-bitcoin-dust-attack-september-create-30-day-transaction-backlog-1515981

Devs are not responsible for action of theymos and other "community" managers.

On the other hand the XT-gang is definitely trying to sabotage the whole thing.