457 HOLY SHIT

[metstijl]

:O :O
:3

[1714170692]

1714170692

[1714170692]

1714170692

[1714170692]

1714170692

[1714170692]

1714170692

[1714170692]

1714170692

[Ultros]

Do it bitcoin. Do it now.

[Arghhh]

┗(°0°)┛

[BTCLotto]

Enjoy it, won't last long still someone lurking not too far waiting to dump 166+BTC...

[blatchcorn]

457 really aint that big of a deal.

But it does look like we are breaking out of the negative downtrend

[zoinky]

Downtrend still on, nothing to see here, continue selling and placing 380 and below bids.

 

[kooke]

It's nothing we haven't seen before. The recent highs keep getting lower, the adoption rate has slowed down. The price will probably go back down to the low $400s come Monday.

[Wilhelm]

This is the beginning of a trend reversal. It might not pull through this time but the bull pressure is building 

[sgbett]

Downtrend still on, nothing to see here, continue selling and placing 380 and below bids.

 

these posts. i love.

[zimmah]

This is the beginning of a trend reversal. It might not pull through this time but the bull pressure is building 

the bulls have been gathering for a couple of weeks now, soon they'll all storm and trample those bears and make them hide in their caves and cry for a couple of months and then the whole process will repeat itself again.

[akujin]

Almost there 

[Kluge]

I don't mean to intrude with my down-home know-nothing perspective, but it seems to me like we're in a period of "flippant uncertainty" where nobody really knows what to do. We're still way behind our regularly scheduled breakout period, but there's so much confidence that we'll break out that people are willing to gamble a little early, maybe out of laziness/impatience. Any movement that happens within the next couple months will probably be (relatively) minor and corrected within a week. $420->$450 is tony bologna.

Perfect time to loan some money on the leverage market and go to the bar.

[MatTheCat]

I don't mean to intrude with my down-home know-nothing perspective, but it seems to me like we're in a period of "flippant uncertainty" where nobody really knows what to do. We're still way behind our regularly scheduled breakout period, but there's so much confidence that we'll break out that people are willing to gamble a little early, maybe out of laziness/impatience. Any movement that happens within the next couple months will probably be (relatively) minor and corrected within a week. $420->$450 is tony bologna.

Perfect time to loan some money on the leverage market and go to the bar.

If everyone was so confident of the break out, then would they not already be going long Bitcoin? After all, we have just broken out from the wave 4 trendline extending back to the $1160 high as per the linear chart (and $30 away from doing so on the log chart).

Ultra low volume on a 'break out' from a 5 month downtrend?

Seems a bit crumbly to me.

I suspect that investors are waiting on China to do something. They are the market makers after all and the future of Bitcoin is hanging by a thread there. Who is going to go long right now when they may wake up on Monday to all the Chinese exchanges being shut-down and a shit-ton of coins making their way to USD markets in order to cash out?

[Kluge]

I don't mean to intrude with my down-home know-nothing perspective, but it seems to me like we're in a period of "flippant uncertainty" where nobody really knows what to do. We're still way behind our regularly scheduled breakout period, but there's so much confidence that we'll break out that people are willing to gamble a little early, maybe out of laziness/impatience. Any movement that happens within the next couple months will probably be (relatively) minor and corrected within a week. $420->$450 is tony bologna.

Perfect time to loan some money on the leverage market and go to the bar.

If everyone was so confident of the break out, then would they not already be going long Bitcoin? After all, we have just broken out from the wave 4 trendline from the the $1160 high as per the linear chart (and $30 away from doing so on the log chart).

Ultra low volume on a 'break out' from a 5 month downtrend?

Seems a bit crumbly to me.

I suspect that investors are waiting on China to do something. They are the market makers after all and the future of Bitcoin is hanging by a thread there. Who is going to go long right now when they may wake up on Monday to all the Chinese exchanges being shut-down and a shit-ton of coins making their way to USD markets in order to cash out?

Why would I tie up money during a waiting period (based on previously-played-out cycle patterns)?  From ~$2 to now, we've always had the same kind of cycles where we see a bubble beyond our dreams, relatively slow crumbling of the bubble followed by a quick pop, then a long period of ~, followed by a slow ramp-up, and then another bubble. I really doubt Chinese law matters in the long-term, and I don't find compelling the idea that China would disallow Chinese exchanges from operating but permit the exchange of USD<->BTC acceptable. The Chinese would likely end up defying law, but if they're all going to defy the law, how is it not an over-reaction to sell coins? /drunken speculation

[TERA]

I don't mean to intrude with my down-home know-nothing perspective, but it seems to me like we're in a period of "flippant uncertainty" where nobody really knows what to do. We're still way behind our regularly scheduled breakout period, but there's so much confidence that we'll break out that people are willing to gamble a little early, maybe out of laziness/impatience. Any movement that happens within the next couple months will probably be (relatively) minor and corrected within a week. $420->$450 is tony bologna.

Perfect time to loan some money on the leverage market and go to the bar.

If everyone was so confident of the break out, then would they not already be going long Bitcoin? After all, we have just broken out from the wave 4 trendline from the the $1160 high as per the linear chart (and $30 away from doing so on the log chart).

Ultra low volume on a 'break out' from a 5 month downtrend?

Seems a bit crumbly to me.

I suspect that investors are waiting on China to do something. They are the market makers after all and the future of Bitcoin is hanging by a thread there. Who is going to go long right now when they may wake up on Monday to all the Chinese exchanges being shut-down and a shit-ton of coins making their way to USD markets in order to cash out?

Why would I tie up money during a waiting period (based on previously-played-out cycle patterns)?  From ~$2 to now, we've always had the same kind of cycles where we see a bubble beyond our dreams, relatively slow crumbling of the bubble followed by a quick pop, then a long period of ~, followed by a slow ramp-up, and then another bubble. I really doubt Chinese law matters in the long-term, and I don't find compelling the idea that China would disallow Chinese exchanges from operating but permit the exchange of USD<->BTC acceptable. The Chinese would likely end up defying law, but if they're all going to defy the law, how is it not an over-reaction to sell coins? /drunken speculation

Hey this guy has a good point here. For those of us who are avid traders/investors, it is more beneficial for us to trade other assets during slow periods, than to hodl bitcoins, even if we end up buying back at a higher price.

[theonewhowaskazu]

I don't mean to intrude with my down-home know-nothing perspective, but it seems to me like we're in a period of "flippant uncertainty" where nobody really knows what to do. We're still way behind our regularly scheduled breakout period, but there's so much confidence that we'll break out that people are willing to gamble a little early, maybe out of laziness/impatience. Any movement that happens within the next couple months will probably be (relatively) minor and corrected within a week. $420->$450 is tony bologna.

Perfect time to loan some money on the leverage market and go to the bar.

If everyone was so confident of the break out, then would they not already be going long Bitcoin? After all, we have just broken out from the wave 4 trendline from the the $1160 high as per the linear chart (and $30 away from doing so on the log chart).

Ultra low volume on a 'break out' from a 5 month downtrend?

Seems a bit crumbly to me.

I suspect that investors are waiting on China to do something. They are the market makers after all and the future of Bitcoin is hanging by a thread there. Who is going to go long right now when they may wake up on Monday to all the Chinese exchanges being shut-down and a shit-ton of coins making their way to USD markets in order to cash out?

Why would I tie up money during a waiting period (based on previously-played-out cycle patterns)?  From ~$2 to now, we've always had the same kind of cycles where we see a bubble beyond our dreams, relatively slow crumbling of the bubble followed by a quick pop, then a long period of ~, followed by a slow ramp-up, and then another bubble. I really doubt Chinese law matters in the long-term, and I don't find compelling the idea that China would disallow Chinese exchanges from operating but permit the exchange of USD<->BTC acceptable. The Chinese would likely end up defying law, but if they're all going to defy the law, how is it not an over-reaction to sell coins? /drunken speculation

Hey this guy has a good point here. For those of us who are avid traders/investors, it is more beneficial for us to trade other assets during slow periods, than to hodl bitcoins, even if we end up buying back at a higher price.

Unless you can hodl bitcoins while also taking positions in other assets.

[T.Stuart]

Ultra low volume on a 'break out' from a 5 month downtrend?

Seems a bit crumbly to me.

Don't forget what you were saying a few months ago Mat, that we would know when the low was in by the fact that it dragged on slowly for plenty of time. How can you have that with the kind of a "break out" you mention? Perhaps the current market is what you were talking about?

[MatTheCat]

Don't forget what you were saying a few months ago Mat, that we would know when the low was in by the fact that it dragged on slowly for plenty of time. How can you have that with the kind of a "break out" you mention? Perhaps the current market is what you were talking about?

I think that the intermediate low is either in, or soon will be in. But if it isn't in, then it could be quite some low indeed....one last huff and gasp from the dying China perhaps, in the form of a shit ton of coin hitting Bitstamp/BTC-e for cash out into USD, which is the whole point of Bitcoin to many Chinese investors anyhow. It was always about capital flight for these guys....and of course gambling. So China to my view aint over yet and until it is, there still hangs that potential for a storm of selling pressure over Bitcoin.

EDIT:

I would also add that on the log-chart (the chart I am using for the 'bigger picture'), there has been no break out. As can be viewed from the chart below, Bitcoin is slap bang in the middle of an intermediate resistance trendline and a long term support trendline, and actually hovering exceedingly close to the long term support trendline when compared with the longer term resistance line:



Since we are talking about a move from around $10 to $1150, and then back down to $400 range, I think that perhaps the log chart is the one people should be looking at when considering Bitcoin on the longer term?

[UnDerDoG81]

Lol looks like people even dump for $10 profit. Probably this will be hard to pass these days.... Even though I wrote that I got a good feeling about the future....

[BitchicksHusband]

Lol looks like people even dump for $10 profit. Probably this will be hard to pass these days.... Even though I wrote that I got a good feeling about the future....

People always dumped for $10 profit.