It hit 500!

[bitcoinsrus]

Resistance lines - is that what the whitishblue and tan lines are? And if so, are they referencing: white = resistance to going up and tan = resistance to going down?

Have you guys started buying or are you just riding up on the panic buys?

No.  We bought at $425, $400, $375 and $350 on the way to the absolute bottom.  This is what you learn after a while.  When Risto starts saying "ROCK BOTTOM", it means if you are smart you start buying right then.

[E-C.Guru]

I just sold my last pair of cloth to go all-in. Price will land on the moon, right?

[jamesc760]

Resistance lines - is that what the whitishblue and tan lines are? And if so, are they referencing: white = resistance to going up and tan = resistance to going down?

Have you guys started buying or are you just riding up on the panic buys?

No.  We bought at $425, $400, $375 and $350 on the way to the absolute bottom.  This is what you learn after a while.  When Risto starts saying "ROCK BOTTOM", it means if you are smart you start buying right then.

Thank you, BitchicksHusband, for that nice bit of wisdom! I really need to make a mental note about Risto.

[BitchicksHusband]

Yeah, what's the deal with the spike today? Is there some piece of news I am missing, or is it just coincidence?

If you watch the charts it was expected to happen sometime this week or next.  We had finally reached the end of capitulation and it was just a matter of days before we were going to break out.  We have breached the resistance line for the first time since November so we should begin a new bull run up to the next ATH.

It really becomes quite predictable after a while.  

Yeah, obviously this small rise in price means the ATH is at most a week away.

Actually, it's typically about 2-3 months from the reversal to the next ATH. 

If it's like before then first, we should start going up about $50 a week ($200 a month).

Then, after about 2 months of that (which takes us to about $900), we explode to the next ATH in the crazy stratosphere of probably $5000-$6000 ish.

Then, we will drop to around 1.5× the old ATH with a low around $1800 or so.

Of course, past performance is no guarantee of the future, but that's what would happen if it were.

[BitchicksHusband]

Resistance lines - is that what the whitishblue and tan lines are? And if so, are they referencing: white = resistance to going up and tan = resistance to going down?

Have you guys started buying or are you just riding up on the panic buys?

No.  We bought at $425, $400, $375 and $350 on the way to the absolute bottom.  This is what you learn after a while.  When Risto starts saying "ROCK BOTTOM", it means if you are smart you start buying right then.

Thank you, BitchicksHusband, for that nice bit of wisdom! I really need to make a mental note about Risto.

Well, he DOES have a castle in Estonia, so I'm going to listen to him over all these broke so-called experts.

I mean, it's like trying to get marriage advice from a divorced guy.  Think about it.  Wouldn't you rather ask the guy who's been married for 50 years?

[N12]

Resistance lines - is that what the whitishblue and tan lines are? And if so, are they referencing: white = resistance to going up and tan = resistance to going down?

Have you guys started buying or are you just riding up on the panic buys?

No.  We bought at $425, $400, $375 and $350 on the way to the absolute bottom.  This is what you learn after a while.  When Risto starts saying "ROCK BOTTOM", it means if you are smart you start buying right then.

Thank you, BitchicksHusband, for that nice bit of wisdom! I really need to make a mental note about Risto.

Well, he DOES have a castle in Estonia, so I'm going to listen to him over all these broke so-called experts.

I mean, it's like trying to get marriage advice from a divorced guy.  Think about it.  Wouldn't you rather ask the guy who's been married for 50 years?

I recommend you read Taleb's "Fooled by Randomness" to understand why this is sort of thinking is generally a bad idea.

Ever heard of survivorship bias?

[epilido]

Thank you, BitchicksHusband, for that nice bit of wisdom! I really need to make a mental note about Risto.

Well, he DOES have a castle in Estonia, so I'm going to listen to him over all these broke so-called experts.

I mean, it's like trying to get marriage advice from a divorced guy.  Think about it.  Wouldn't you rather ask the guy who's been married for 50 years?

I quietly watch Risto, He has a great wealth of info.

I try to spend a little time listening to the divorced guy.  He has made mistakes and can alert you to the pitfalls that you may be able to avoid.

[BitchicksHusband]

Resistance lines - is that what the whitishblue and tan lines are? And if so, are they referencing: white = resistance to going up and tan = resistance to going down?

Have you guys started buying or are you just riding up on the panic buys?

No.  We bought at $425, $400, $375 and $350 on the way to the absolute bottom.  This is what you learn after a while.  When Risto starts saying "ROCK BOTTOM", it means if you are smart you start buying right then.

Thank you, BitchicksHusband, for that nice bit of wisdom! I really need to make a mental note about Risto.

Well, he DOES have a castle in Estonia, so I'm going to listen to him over all these broke so-called experts.

I mean, it's like trying to get marriage advice from a divorced guy.  Think about it.  Wouldn't you rather ask the guy who's been married for 50 years?

I recommend you read Taleb's "Fooled by Randomness" to understand why this is sort of thinking is generally a bad idea.

Ever heard of survivorship bias?

So, you're saying I should ask the divorced guy and the poor fools on here that made $200 on a day trade and now think they're the emperor of bitcoin?  Uh, no thanks.

[N12]

Resistance lines - is that what the whitishblue and tan lines are? And if so, are they referencing: white = resistance to going up and tan = resistance to going down?

Have you guys started buying or are you just riding up on the panic buys?

No.  We bought at $425, $400, $375 and $350 on the way to the absolute bottom.  This is what you learn after a while.  When Risto starts saying "ROCK BOTTOM", it means if you are smart you start buying right then.

Thank you, BitchicksHusband, for that nice bit of wisdom! I really need to make a mental note about Risto.

Well, he DOES have a castle in Estonia, so I'm going to listen to him over all these broke so-called experts.

I mean, it's like trying to get marriage advice from a divorced guy.  Think about it.  Wouldn't you rather ask the guy who's been married for 50 years?

I recommend you read Taleb's "Fooled by Randomness" to understand why this is sort of thinking is generally a bad idea.

Ever heard of survivorship bias?

So, you're saying I should ask the divorced guy and the poor fools on here that made $200 on a day trade and now think they're the emperor of bitcoin?  Uh, no thanks.

No, I think you are creating a strawman. I'll leave it at that, you do seem fond of your current knowledge.

[wachtwoord]

Resistance lines - is that what the whitishblue and tan lines are? And if so, are they referencing: white = resistance to going up and tan = resistance to going down?

Have you guys started buying or are you just riding up on the panic buys?

No.  We bought at $425, $400, $375 and $350 on the way to the absolute bottom.  This is what you learn after a while.  When Risto starts saying "ROCK BOTTOM", it means if you are smart you start buying right then.

Thank you, BitchicksHusband, for that nice bit of wisdom! I really need to make a mental note about Risto.

Well, he DOES have a castle in Estonia, so I'm going to listen to him over all these broke so-called experts.

I mean, it's like trying to get marriage advice from a divorced guy.  Think about it.  Wouldn't you rather ask the guy who's been married for 50 years?

I recommend you read Taleb's "Fooled by Randomness" to understand why this is sort of thinking is generally a bad idea.

Ever heard of survivorship bias?

So, you're saying I should ask the divorced guy and the poor fools on here that made $200 on a day trade and now think they're the emperor of bitcoin?  Uh, no thanks.

No, I think you are creating a strawman. I'll leave it at that, you do seem fond of your current knowledge.

Blitz is actually correct here. Look up survivorship bias as he advises.

[BitchicksHusband]

Resistance lines - is that what the whitishblue and tan lines are? And if so, are they referencing: white = resistance to going up and tan = resistance to going down?

Have you guys started buying or are you just riding up on the panic buys?

No.  We bought at $425, $400, $375 and $350 on the way to the absolute bottom.  This is what you learn after a while.  When Risto starts saying "ROCK BOTTOM", it means if you are smart you start buying right then.

Thank you, BitchicksHusband, for that nice bit of wisdom! I really need to make a mental note about Risto.

Well, he DOES have a castle in Estonia, so I'm going to listen to him over all these broke so-called experts.

I mean, it's like trying to get marriage advice from a divorced guy.  Think about it.  Wouldn't you rather ask the guy who's been married for 50 years?

I recommend you read Taleb's "Fooled by Randomness" to understand why this is sort of thinking is generally a bad idea.

Ever heard of survivorship bias?

So, you're saying I should ask the divorced guy and the poor fools on here that made $200 on a day trade and now think they're the emperor of bitcoin?  Uh, no thanks.

No, I think you are creating a strawman. I'll leave it at that, you do seem fond of your current knowledge.

Blitz is actually correct here. Look up survivorship bias as he advises.

I did.  I'm missing the application.  Connect the dots for all of us.

The way I see it, buy and hold IS survivorship, and that's the key to making money in bitcoin.

[BitcoinBobbeh]

ITT: a buncha wrong people.

The rise is nice, (I'll admit I get the warm fuzzies thinking about my holdings magically accruing such value in the span of a day) but without at least 2 charts and some seriously charming metaphors, all TA is inferior to MatTheCat's.

In case you missed it, MTC does not see sunshine farts and rainbows.

He sees sideways movement for quite awhile yet.

[jamesc760]

With our brothers in China waking up from a long night's sleep, let's see if they can push the price over and above $500 a coin...

[wachtwoord]

With our brothers in China waking up from a long night's sleep, let's see if they can push the price over and above $500 a coin...

Hoboi and OKCoin already breached 3000 again (after going back under while stamp went under $500) so I think it's pretty likely. At least they closed the gap with stamp.

[Omikifuse]

With our brothers in China waking up from a long night's sleep, let's see if they can push the price over and above $500 a coin...

Hoboi and OKCoin already breached 3000 again (after going back under while stamp went under $500) so I think it's pretty likely. At least they closed the gap with stamp.

I dont understand, I though its a full ban for china? Why is hoboi and okcoin still active?

[bitcoinsrus]

With our brothers in China waking up from a long night's sleep, let's see if they can push the price over and above $500 a coin...

Hoboi and OKCoin already breached 3000 again (after going back under while stamp went under $500) so I think it's pretty likely. At least they closed the gap with stamp.

I dont understand, I though its a full ban for china? Why is hoboi and okcoin still active?

I do not think it was ever banned.  I thought that they just basically crippled the relationship with banks, that worked with the exchanges (making it harder for yen to flow into the exchanges).

Those exchanges could probably get 3rd party deposits (similar to btc-e)
Is my thinking correct? or am I wrong somewhere?

[liexel]

how unwise is it to take up a loan to buy some coins now?

[Skele]

When someone bans something they just make it more popular, because it is shown in the news, tv, etc.. anyway china is not everything for bitcoin, there are many whale investors from other parts of the globe.

[byt411]

how unwise is it to take up a loan to buy some coins now?

Depends on what you need it for. If you are going to change it to USD, I suggest you don't take a loan. You're a newbie anyway, you won't get a loan unless you have collateral.

[Malin Keshar]

With our brothers in China waking up from a long night's sleep, let's see if they can push the price over and above $500 a coin...

Hoboi and OKCoin already breached 3000 again (after going back under while stamp went under $500) so I think it's pretty likely. At least they closed the gap with stamp.

I dont understand, I though its a full ban for china? Why is hoboi and okcoin still active?

I do not think it was ever banned.  I thought that they just basically crippled the relationship with banks, that worked with the exchanges (making it harder for yen to flow into the exchanges).

Those exchanges could probably get 3rd party deposits (similar to btc-e)
Is my thinking correct? or am I wrong somewhere?

I think that 3th part deposits were forbidden with the first chinese ban, back in 2013.

Sadly btc price hit the 500 wall like a ball thrown into a concrete wall:(
Hope he can climb that mark soon.