Analysis

[quake313]

Back to holding coinz it is!   

I'd agree with you if the sentiment wasn't so overwhelmingly positive everywhere I look. Still a few %'s in fiat looking for a pullback ~$900

Biggest risk is the ETF decision at the moment. The market seems to speculate on an approval which imo wont come. So on 11th march we could see -20% easily.

My brain is telling me it will get rejected but my gut is saying approval. We are living in strange times, Trump got elected, everyone was betting against him, most polls had Hillary wining. Flat earth theory is gaining traction and that is totally ridiculous. The US government is wacky right now with Trump as president. Stranger things have happened, than a rule change to allow a Bitcoin ETF getting approval.

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[molecular]

Back to holding coinz it is!  

I'd agree with you if the sentiment wasn't so overwhelmingly positive everywhere I look. Still a few %'s in fiat looking for a pullback ~$900

Biggest risk is the ETF decision at the moment. The market seems to speculate on an approval which imo wont come. So on 11th march we could see -20% easily.

My brain is telling me it will get rejected but my gut is saying approval. We are living in strange times, Trump got elected, everyone was betting against him, most polls had Hillary wining. Flat earth theory is gaining traction and that is totally ridiculous. The US government is wacky right now with Trump as president. Stranger things have happened, than a rule change to allow a Bitcoin ETF getting approval.

I think the Winklevii removed the biggest obstacle with their newest addition to the filing: to clear up what will happen in case of a fork: they will choose the most-work chain 48 hours after the fork. It's debatable wether that's good, but I think that unclarity about what "bitcoin is" in such a case was one of the major problems the SEC had with the filing. Yesterday I was putting the chance of approval at 10% for myself. Now it's considerably higher due to this.

[ezipaint]

Hey Luc, you planning on posting here? Google Translate is slowly making me insane.

[RoadTrain]

https://vk.com/bitcoin_vanga

"Epic bear trap on weekly chart. I have never seen this before in BTC. Usually the upper BB being broken down means the price will visit SMA20, then the bands will narrow, and only after that some further move will follow. Bands narrowing takes 20 weeks.

But the price is impatient. It will go far."

[Pruden]

Thanks for the good translation.  Even though I got the gist of the message from the Afrikoin thread, it's much better this way. Can I tip you some bitcoins?

[Pruden]

I must say, though, that something like this HAS happened before. In november 2015: There too was a top weekly candle with a long wick (the only difference is that the weekly candle was green then and not it's red). If we finally break $1140 Bitstamp, I will agree on this being unprecedented.

[jeezy]

I must say, though, that something like this HAS happened before. In november 2015: There too was a top weekly candle with a long wick (the only difference is that the weekly candle was green then and not it's red). If we finally break $1140 Bitstamp, I will agree on this being unprecedented.

$1142 was broken.

[quake313]

I must say, though, that something like this HAS happened before. In november 2015: There too was a top weekly candle with a long wick (the only difference is that the weekly candle was green then and not it's red). If we finally break $1140 Bitstamp, I will agree on this being unprecedented.

$1142 was broken.

Will we break $1163 is the question?

[Afrikoin]

I must say, though, that something like this HAS happened before. In november 2015: There too was a top weekly candle with a long wick (the only difference is that the weekly candle was green then and not it's red). If we finally break $1140 Bitstamp, I will agree on this being unprecedented.

$1142 was broken.

Will we break $1163 is the question?

yes we will!

As a teaser though :p

[wpalczynski]

BTCe Actual 2013 ATH broken:

https://bitcoinwisdom.com/markets/btce/btcusd

Use 3 week resolution, its a beautiful sight!

[RoadTrain]

Thanks for the good translation.  Even though I got the gist of the message from the Afrikoin thread, it's much better this way. Can I tip you some bitcoins?

You're welcome. You can tip if you feel like it, I now have an address in my profile

[keystroke]

BTCe Actual 2013 ATH broken:

https://bitcoinwisdom.com/markets/btce/btcusd

Use 3 week resolution, its a beautiful sight!

You mean 3 day resolution?

Edit: Either way is a beautiful sight.

[wpalczynski]

BTCe Actual 2013 ATH broken:

https://bitcoinwisdom.com/markets/btce/btcusd

Use 3 week resolution, its a beautiful sight!

You mean 3 day resolution?

Edit: Either way is a beautiful sight.

Meant 1 week.

[Livermore]

On the russian forums, masterluc is saying this could be wave 3 of (i) 3?

Or just part of the supercycle wave 3. Google translate is hard to understand.

Long term he is predicting $9500, from extrapolation of previous bubbles, and is saying this move will go far.

Seems very clearly bullish


https://www.tradingview.com/chart/BTCUSD/fvhCAiH9-EW-development/

OR. We are in wave 5 of a new pace of trend. Might be 1600 for top.

[RAJSALLIN]

On the russian forums, masterluc is saying this could be wave 3 of (i) 3?

Or just part of the supercycle wave 3. Google translate is hard to understand.

Long term he is predicting $9500, from extrapolation of previous bubbles, and is saying this move will go far.

Seems very clearly bullish


https://www.tradingview.com/chart/BTCUSD/fvhCAiH9-EW-development/

OR. We are in wave 5 of a new pace of trend. Might be 1600 for top.

Spent several of my valuable minutes reading your crap and clicking your link. That post from luc with the EW update is 2months old and not valid any more. His prediction of 9500 is from last year and still valid but nothing new. Don't waste our time. Thought the master had a new update.

[Ted E. Bare]

Spent several of my valuable minutes reading your crap and clicking your link. That post from luc with the EW update is 2months old and not valid any more. His prediction of 9500 is from last year and still valid but nothing new. Don't waste our time. Thought the master had a new update.

Aren't you that guy who sold at $900 because of the 'overbought RSI'? lol

[wpalczynski]

A good read in my opinion.  ALL TRADERS SHOULD READ THIS:  https://medium.com/@PureLogic/is-the-great-cryptosphere-reset-coming-bitcoin-and-cryptocurrencies-a6b5bd716d43#.p8oguxf6u

Some valid points but the author seems to lack appreciation of how far into mainstream bitcoin has entrenched itself.  Overall negative article, not sure its worth the 10-15 mins it takes to read it.

[marcus_of_augustus]

I'm actually still reading it.  I skimmed over it quickly when I saw it and decided it was worth reading.  I just wanted to get it here to this forum for others to read while I'm reading it.

Lots of good and valid points too, but the mind set feels a little 2013 to me overall in terms of perception of market maturity. I'm sure it is still being gamed and ravaged like mad, but something outside the bubble the same old suspects are locked in is brewing.

I read that thing and want those 15min back. Imo its crap.

glad someone else said it first ... but phew, I started reading and then skipped a bit, skipped a bit more faster and skipped straight to the conclusion ... he could have just said "i think bitcoin is going down" in a tweet ... or what did I miss?

[STT]

So I was right about it being bullish    guess it was a coin flip.   My last look I think OBV indicates its strength from volume is not exceeding the high from year beginning.  However now I think about it, the exchanges are split and I lack a proper chart to volume and so indicators are not anywhere near accurate        Is the market big enough that someone has that data and is considering volume consolidated, Im sure someone is

Aren't you that guy who sold at $900 because of the 'overbought RSI'? lol

MFI includes volume btw.  RSI cant be used singularly

[MR1]

Bitcoin_Vanga aka Masterluc is bullish. Enjoy his recent chart:

https://vk.com/bitcoin_vanga?z=photo-130254204_456239103%2Falbum-130254204_00%2Frev