Analysis

[keystroke]

I am dedicated to bitcoin. Bitcoin changed my life. No other assets.

Moi aussi.

Me too.

-Posted from Argentina

[masterluc]

2nd attempt. Above weekly bb. Need to ensure it will stay there.

[kehtolo]

2nd attempt. Above weekly bb. Need to ensure it will stay there.

How long for? Until week close, I assume? This is normally Sunday night?

[Driv3n]

2nd attempt. Above weekly bb. Need to ensure it will stay there.

How long for? Until week close, I assume? This is normally Sunday night?

Correct.

[masterluc]

Closing half of longs. Bubble indicator says rally out of fuel (however could continue for some time).

[dEBRUYNE]

Closing half of longs. Bubble indicator says rally out of fuel (however could continue for some time).

On bitfinex someone opened ~7k in shorts (see -> https://bfxdata.com/swaphistory/btc) between 17:30 & 18:30 (UTC+1). This could very well fuel a breakout. Furthermore, it's kind of a risky strategy since the market is, although overbought, pretty resilient in my opinion.

[ssmc2]

Closing half of longs. Bubble indicator says rally out of fuel (however could continue for some time).

So more sideways in your opinion Luc?

[masterluc]

May be. My indicator says sell + market overbought + near top trend line. Sorry bulls =)

[klee]

May be. My indicator says sell + market overbought + near top trend line. Sorry bulls =)

 

EDIT: https://letstalkbitcoin.com/blog/post/mmm-global-republic-of-bitcoin-cryptos-next-scandal

[traderbit]

I am dedicated to bitcoin. Bitcoin changed my life. No other assets.

It's not just you, most of us are like you
I think that if there is no more pump (tests) then the price will crash.
Maybe more or less that it was before two weeks, but the hope for the best will never end.

[Ivanhoe]

What happenend to the 3rd wave prediction?

[wpalczynski]

Some bear is going to get slaughtered on Finex with that rather large short position that was taken. We blew past the previous high from mid summer again today.

[lebing]

Some bear is going to get slaughtered on Finex with that rather large short position that was taken. We blew past the previous high from mid summer again today.

likely did just get smashed.

That being said, I am watching closely for a potential shooting star pattern to develop here.

[wpalczynski]

Some bear is going to get slaughtered on Finex with that rather large short position that was taken. We blew past the previous high from mid summer again today.

likely did just get smashed.

That being said, I am watching closely for a potential shooting star pattern to develop here.

Myself Im looking more for the moon shot pattern. :p

[maxll]

I can remember your strong sell indicators Licuf when the price were 15-20 at early 2013.
But yes we can see the local overbought conditions everywhere around right now.

[megadeth]

I can remember your strong sell indicators Licuf when the price were 15-20 at early 2013.
But yes we can see the local overbought conditions everywhere around right now.

Cut him some slack, he called the Nov 2013 top.

[dmwardjr]

Just thought the thread might find this news interesting [With Charts].  It addresses what may appear to be overbought that instead may be an exit from Chinese Yuan to protect wealth [Hedging]:  

http://www.zerohedge.com/news/2015-10-27/china-margin-debt-hits-8-week-high-japan-pumpsndumps-kyle-bass-fears-looming-em-bank  [You will love these charts for comparison]

http://www.zerohedge.com/news/2015-10-25/bitcoin-bullion-soar-chinas-creeping-capital-controls-loom

http://cointelegraph.com/news/115462/chinese-policy-makers-are-starting-to-study-and-rediscover-the-bitcoin-industry-huobi?ref=8

The very FACT that LTC and BTC are both going up is showing the fear of these capital controls.  China owns approximately 80% of all bitcoin trading volume.  If they are transferring their funds to a place like BTC and LTC because of looming capital controls, this market is FAR from over bought.  It's beginning to look like a panic buy.  If you also add FOMO on top of it....   WOW.

EDIT:  I believe BTC will come back down after the Yuan has been devalued once again.  Many Chinese are hedging [so to speak] at the moment.  How much does it comes down?  Who knows?  First we have to wait to see how high they take it up.  All other exchanges follow the Chinese.  The real question is how many Chinese are hip to bitcoin?  The more the merrier.  

[maxll]

Cut him some slack, he called the Nov 2013 top.

He called precisely the Apr 2013 top too. Perfect work, yes!
But we are talking not about the next global moon top now but maybe the next bubble beginning.

[BldSwtTrs]

Master, you give mixed signals, I am confused.

[Joerii]

Master, you give mixed signal, I am confused.

The mixed signal was before a couple of hours ago.

I'm expecting a very clear and easy to understand signal NOW.