Analysis

[Voodah]

Looking very much like a trap yeah.

yeah, but if the price touches 700 and bounces up? then what?

(I'm only looking at gox numbers just for clarity)

A bigger trap?

[shmadz]

Looking very much like a trap yeah.

yeah, but if the price touches 700 and bounces up? then what?

(I'm only looking at gox numbers just for clarity)

A bigger trap?

very possible, My immediate feeling is neither bearish nor bullish... more like cautious.

eidt, it really looks like it''s about to fall tho... edit, china already falling, is this a fake-out? <-wrong, did not see that china had recent lower low. my fail

last edit: If it breaks down below that 700 level, we are back into the long slide. the move to 730 was fun while it lasted tho.

[molecular]

I understand bitcoin and I'm looking to get as many coins as I can with a given amount of fiat

Just get back in is my suggestion.

[molecular]

The downtrend line is at ~ $700 (gox). It's broken. The longer this remains the case the higher the probability of a trend change.

[accord01]

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.

[shmadz]

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.

[cAPSLOCK]

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.

[Wekkel]

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'.

[molecular]

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.

[TERA]

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.

[F-bernanke]

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.

[thefiniteidea]

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.

[phoenix1]

<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 ...

[MAbtc]

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.

[molecular]

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.

[masterluc]

What Happened The Last Time A Major Central Bank "Tapered" QE?

[2017orso]

@ 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?

[Macno]

Yeah, whats the point of that ZH article? Nothing to do with Bitcoin.

[ElectricMucus]

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.

[masterluc]

The point is money printing shrinks by $10 bln a month (bitcoin market cap)