We need to pass $547 to see a REAL jump!

[sharkyshark]

Nothing bearish at all happening...

We are just still waiting for the test of $547 on Bitfinex with volume.

I didnt say it would be easy..

BUT if it can pass $547 USD on Bitfinex we will see SIGNIFICANT upwards movement..

I am still waiting ...

Picked up some shorts today as i saw it was weak..

Like I said before there are some good day trading in the $505 - $540's range.

I just do want to be caught short and it push through $547.. (that would suck,,,)

Lets see....

[akujin]

Why bifinex? They only follow stamp 

[BitchicksHusband]

Somebody's large shorts getting squeezed or something I would imagine.  The person will be forced to buy to pay it off.

[sharkyshark]

Doesn't NEED to be Bitfinex but that is the market i am watching...
To each their own i guess..

If the price on Bitfinex goes below $507.90 usd be very careful...

Might be a good idea to watch both sides...

I would short at $507.90 USD @200 bitcoins.
I would buy at $548.00 USD @200 bitcoins.


Until one of these hit i am playing the day trading game with 50 bitcoins only.

[derpinheimer]

Doesn't NEED to be Bitfinex but that is the market i am watching...
To each their own i guess..

If the price on Bitfinex goes below $507.90 usd be very careful...

Might be a good idea to watch both sides...

I would short at $507.90 USD @200 bitcoins.
I would buy at $548.00 USD @200 bitcoins.


Until one of these hit i am playing the day trading game with 50 bitcoins only.

These numbers fit with my thoughts as well. Even nearing $500 spells the end to this rally IMO.

[scarsbergholden]

Doesn't NEED to be Bitfinex but that is the market i am watching...
To each their own i guess..

If the price on Bitfinex goes below $507.90 usd be very careful...

Might be a good idea to watch both sides...

I would short at $507.90 USD @200 bitcoins.
I would buy at $548.00 USD @200 bitcoins.


Until one of these hit i am playing the day trading game with 50 bitcoins only.

These numbers fit with my thoughts as well. Even nearing $500 spells the end to this rally IMO.

.382 for the whole move is around 507 level. so i am thinking if that level cant hold (and because of psychology I would extend this to 500 probably) then you are right

[sharkyshark]

I already have staggered shorts ready for the way down. Also buys for the way up.
The way I trade is take my total amount that I wish to trade and the average price and then stagger the buys or sells over a .10-.30 cents spacing.

I sometimes try to pick the bottom but in a thin ask/bid market like bitcoin and market makers that are always filling market orders to THEIR liking, I prefer to use the "kiss" methodology

"keep it simple stupid"

I should be able to get some shorts filed going up and down.
But I would prefer a break of $547 on the upside and watch this jump.. Mybe now is not the time..

(in case in the rare occasion someone out there is listening that can move this market)

PS. On a side note, if I had enough bitcoins I would drop the market by placing consecutive market orders & limit orders on bitstamp and bitfinex and huobi. something like 50,000 bitcoin to $400 and then before that have 100,000 bitcoin buys staggered down to the last low .. Then market order back up..

Would shake this tree so hard and make a permanent bottom and allow for a PURE / NEW uptrend...

or KISS <--- just go up...

Hey but " what do i know right?"

[sharkyshark]

This doesn't look good... 
I hope this goes up and definitely doesn't go down to $507 area...




Lets see...

[frienemy]

This doesn't look good... 
I hope this goes up and definitely doesn't go down to $507 area...




Lets see...

Well, to me it looks like a long-legged doji, therefore no clear signal. Does not need to be bearish.

[sharkyshark]

Long-legged doji candles are deemed to be the most significant when they occur during a strong uptrend or downtrend. The long-legged doji suggests that the forces of supply and demand are nearing equilibrium and that a shift in the direction of the trend may be coming.

This doesn't look good... 
I hope this goes up and definitely doesn't go down to $507 area...




Lets see...

Well, to me it looks like a long-legged doji, therefore no clear signal. Does not need to be bearish.

[ampere9765]

Yes I would agree that the doji is a clear topping signal, though obviously one should be looking to other indications also that signal the reversal. Lot of negative divergence on the last two pushes up too.

[sharkyshark]

If this was a blue chip stock I would be very , very confident in going short now.
BUT...

This is bitcoin and it is highly manipulated. I have to trade on major support and resistance levels.

If someone or a group of people want this to be $400 or $600 they will make that happen anyways..

Just the way it is at this point with a small marketcap, thinly traded item..

Have fun...

PS. watch the large asks and bids be removed every time that they are put up.. LOL

[frienemy]

Long-legged doji candles are deemed to be the most significant when they occur during a strong uptrend or downtrend. The long-legged doji suggests that the forces of supply and demand are nearing equilibrium and that a shift in the direction of the trend may be coming.

This doesn't look good... 
I hope this goes up and definitely doesn't go down to $507 area...




Lets see...

Well, to me it looks like a long-legged doji, therefore no clear signal. Does not need to be bearish.

Agreed. Definitively a sign that I should go to bed now, when eyes see the right thing, but brains conclude the wrong thing. Goodnight from Europe.

[Benjig]

This doesn't look good... 
I hope this goes up and definitely doesn't go down to $507 area...




Lets see...

Well with bitcoin we never know, but this graphic doesnt looks good, hope we dont get below 500 again..

[Miz4r]

Don't see any reason to worry yet. A retracement to the low 500s was at least to be expected, 540-550 is a tough resistance area after all. Could form a nice handle from here to complete a bullish cup&handle pattern.

[sharkyshark]

I am buying here at $518.01

Lets see how it works out!??


(first part completed)

Next buys at :

$510
$505
and the most at $501

Hope they can all get filled.  Dont want to chase this back up..

[STT]

Im just reading this thread but on the same day I noticed it was moving possibly breaking the downtrend.  It pays to be quite sceptical though and I wrote down 533 as the point which needs to break and confirm as a floor before we can really be sure this isnt just another minor bounce.

My rough take just looking again now is that it has failed to break that point.   However theres some hope so long as volume declines as the price does, it makes for a weak move.   
4 hour chart I take as most significant as it fits global timezones and varied marketplaces, obviously China can dominate at times and for the moment volume has dropped.   Ideally it would break 533 or 547 whichever and do so on greater volume then seen previously.

400 is my guess for a floor, as in dont break the ice kinda floor :p

[segeln]

If you check the pricemovement in 2014 you will see,that 547 $ was only at 16.April a resistance.
So I think it is not a very strong resistence since earlier in 2014 it has been several times a support

[segeln]

Long-legged doji candles are deemed to be the most significant when they occur during a strong uptrend or downtrend. The long-legged doji suggests that the forces of supply and demand are nearing equilibrium and that a shift in the direction of the trend may be coming.

Well, to me it looks like a long-legged doji, therefore no clear signal. Does not need to be bearish.

we are not in a strong uptrend. compared to other BTC-uptrends this is a medium uptrend
so the doji Comes not unexpected.
This medium sized Rally ist more unexpected since we hav no really a reason for it.

[windjc]

Nothing bearish at all happening...

We are just still waiting for the test of $547 on Bitfinex with volume.

I didnt say it would be easy..

BUT if it can pass $547 USD on Bitfinex we will see SIGNIFICANT upwards movement..

I am still waiting ...

Picked up some shorts today as i saw it was weak..

Like I said before there are some good day trading in the $505 - $540's range.

I just do want to be caught short and it push through $547.. (that would suck,,,)

Lets see....

With all due respect, I think you are wrong. 506-507 is only a 38% retracement from the top of this rally from where it began. Not AT LEAST hitting that is very very bullish, especially since we shot right past $500 and "if this were a stock" we would be guaranteed to retouch such a significant #. We could retrace to $495 (around 50% retracement) and still be fine.

Go ahead, short 200 btc at $506. Let's see how that works out for you.