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

[sharkyshark]

We got through the last treadline but the REAL issue will now be $547 USD on bitfinex.

If we can get through that number you will see SERIOUS VOLUME and A MAJOR break upwards..

I have shorted at $500 even on bitfinex..

I think a 50% fib retracement to $472 ,,,

If it goes to $522 on bitfnex i will be forced to close my short at $500 and wait for the $547 to go loong again.

LETS SEE what happens..

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[RockHound]

We got through the last treadline but the REAL issue will now be $547 USD on bitfinex.

If we can get through that number you will see SERIOUS VOLUME and A MAJOR break upwards..

I have shorted at $500 even on bitfinex..

I think a 50% fib retracement to $472 ,,,

If it goes to $522 on bitfnex i will be forced to close my short at $500 and wait for the $547 to go loong again.

LETS SEE what happens..

Sounds reasonable - best of luck with that!

I'm actually waiting to pick up south before that happens. Any estimates on BTC volume (48Hr) for it to break $547?

[bitcoinsrus]

This is what I noticed.  It was sub 400 for a while (few days - few weeks) then it crept up to 420 ish and so on.  Maybe it might be a slow upturn, a shot up, back down.  My guess is a slow steady uptrend.

[sharkyshark]

I forgot to mention..
HUOBI is going to 3145 --  100% GUARANTEED..

LONG and STRONG..

Lets rocks and roll.

[DustyRah]

We got through the last treadline but the REAL issue will now be $547 USD on bitfinex.

If we can get through that number you will see SERIOUS VOLUME and A MAJOR break upwards..

I have shorted at $500 even on bitfinex..

I think a 50% fib retracement to $472 ,,,

If it goes to $522 on bitfnex i will be forced to close my short at $500 and wait for the $547 to go loong again.

LETS SEE what happens..

There are traders involved in this now. They are not buying to hold for years but in fact they will drop their load and re-buy and so on. Cutting through the sell orders is not going to be as easy as before. There will be whole bunch of dicks with sell orders at 500 if anything.

[DustyRah]

We got through the last treadline but the REAL issue will now be $547 USD on bitfinex.

If we can get through that number you will see SERIOUS VOLUME and A MAJOR break upwards..

I have shorted at $500 even on bitfinex..

I think a 50% fib retracement to $472 ,,,

If it goes to $522 on bitfnex i will be forced to close my short at $500 and wait for the $547 to go loong again.

LETS SEE what happens..

Sounds reasonable - best of luck with that!

I'm actually waiting to pick up south before that happens. Any estimates on BTC volume (48Hr) for it to break $547?

It's got a hardon like a baseball bat at this time looking at the chart. $547 is within reach.

[RockHound]

If you move to the 1day Bitstamp charts on Bitcoinwisdom. It records only ~30,000BTC trade vol. today

The last time we were @ $550 the rally took ~90,000BTC.

If an additional ~60,000BTC is traded over the next 2 days will surely bring us close to $550 again.

This logic maybe flawed  

[jamesc760]

So, according to OP's logic, today's jump from 450 to 495 is a FAKE jump?

[ampere9765]

If you move to the 1day Bitstamp charts on Bitcoinwisdom. It records only ~30,000BTC trade vol. today

The last time we were @ $550 the rally took ~90,000BTC.

If an additional ~60,000BTC is traded over the next 2 days will surely bring us close to $550 again.

This logic maybe flawed  

Tradingview says 28k daily volume on Stamp (UTC). I'd actually look at this more like...... well, take a comparison between this daily volume, and volume on other major rallies over the past 5 months.....

[sharkyshark]

Today's move "could" be a fake rally but i have a very strong stance that we will test $547 .USD..

I am not sure if we will get through it.. But Just like I advised over the week we should have no problems testing $547 on bitfinex.

Now whether we can get through it is another story ...

I also am starting to hear rumors that if they are true could swing the market up very fast. And movement of $50-$100 in a day would create serious pressure on shorts and longs either way.

Lets see...

[Skele]

Even the Chineses are buying again, with the bitcoin price in yuan up about 8% . But with no official policy statements forthcoming, the events of the past several days still leaves a cloud of uncertainty hanging over bitcoin in china.
Here's why that's probably not going to change for a while...

[scarsbergholden]

Seemed like Huobi was hesitant to follow the rally today, but is now only lagging $5 or so behind. Kinda undecided tbh about where we go from here, but 547 sounds optimistic. 

[RockHound]

Seemed like Huobi was hesitant to follow the rally today, but is now only lagging $5 or so behind. Kinda undecided tbh about where we go from here, but 547 sounds optimistic.  

Heard Huobi started this pump followed by BStamp 10min after? Doesn't really matter    wouldn't be surprised if the whale team were using both major exchanges.

Around 74,000BTC on Huobi and 30,000BTC on BStamp past 30Hrs.

$547 seems totally possible assuming consistent/increased trading volumes.

I'm hoping this time round we test but don't penetrate $500 barrier and trend towards $430, only because I'm in FIAT  

Either way, interesting 2days to follow!

[piramida]

because I'm in FIAT  

Ok so observe your bitcoin 101 lesson: "Missing the train", will be followed by a homework assignment "Panic buying higher", passing grade is buying in right before the next crash.

[stompix]

So, according to OP's logic, today's jump from 450 to 495 is a FAKE jump?

This is how bears in denial see jumps.

Or a permabull angry that it didn't hit 300k already.

[C64_4EVA]

$600 was a strong support level, it will surely play a strong resistance level as well.

[JimboToronto]

So, according to OP's logic, today's jump from 450 to 495 is a FAKE jump?

This is how bears in denial see jumps.

Or a permabull angry that it didn't hit 300k already.

 

[MatTheCat]

I have shorted at $500 even on bitfinex..

Not a very clever short. When you see these impulse moves in Bitcoin you need to keep away from the short trades. We have had a lesser wave 1, a lesser wave 3, are currently in a corrective 4 and are awaiting a Wave 5 (that means more sharp upside). The wave 4 we are in seems to be a bullish ascending triangle formation just under $500 and it is more likely than not in my view, that there will be another impulsive leg up to mid/lower $500s before any kind of proper correction set in. There is also a good argument for $445 being the starting point of a larger Wave III move. If that turns out to be the case, then short sellers who prove too stubborn to take a loss could end up getting slaughtered. I know, I have been there.

you are currently $5 in the green on your short trade. I would take that if I were you.

[zoinky]

because I'm in FIAT  

Ok so observe your bitcoin 101 lesson: "Missing the train", will be followed by a homework assignment "Panic buying higher", passing grade is buying in right before the next crash.

I thought this time it was gonna be different People never learn.

[RockHound]

because I'm in FIAT  

Ok so observe your bitcoin 101 lesson: "Missing the train", will be followed by a homework assignment "Panic buying higher", passing grade is buying in right before the next crash.

  Probably right - we'll aim to buy-in at next "crash".