Dat volume

[RandomPedestrianN9]

Nice pump, volume back to normal = that means extremely low volume and still decreasing. The hype is over, average Joes are gone, have fun, bagholders. Nice try tho. BTC exchanges are dead, only bots trading on them and these bots only follow Huobi anyway.

[ShameOnYou]

I was feeling pretty bearish when we dropped from 595 last, but sell volume just keeps dying out and can't push past this 550-570 area. I think if it holds again I'm gonna buy back.

[kireinaha]

Nice pump, volume back to normal = that means extremely low volume and still decreasing. The hype is over, average Joes are gone, have fun, bagholders. Nice try tho. BTC exchanges are dead, only bots trading on them and these bots only follow Huobi anyway.

lmao. We're still up ~25% in value from a couple weeks ago so why all the doom and gloom? In the face of all these positive developments and all the bullish signals suggesting another rapid run up in price this summer, you're still going to keep pushing this FUD?

You must be on someone's payroll? Perhaps the PBOC?

[ShameOnYou]

Nice pump, volume back to normal = that means extremely low volume and still decreasing. The hype is over, average Joes are gone, have fun, bagholders. Nice try tho. BTC exchanges are dead, only bots trading on them and these bots only follow Huobi anyway.

lmao. We're still up ~25% in value from a couple weeks ago so why all the doom and gloom? In the face of all these positive developments and all the bullish signals suggesting another rapid run up in price this summer, you're still going to keep pushing this FUD?

You must be on someone's payroll? Perhaps the PBOC?

I'm curious what you mean by "all the bullish signals suggesting another rapid run up in price this summer"...like i know that lots of people are saying that. But what exactly are the bullish signals that make it so clear?

[bitcoinsrus]

Nice pump, volume back to normal = that means extremely low volume and still decreasing. The hype is over, average Joes are gone, have fun, bagholders. Nice try tho. BTC exchanges are dead, only bots trading on them and these bots only follow Huobi anyway.

lmao. We're still up ~25% in value from a couple weeks ago so why all the doom and gloom? In the face of all these positive developments and all the bullish signals suggesting another rapid run up in price this summer, you're still going to keep pushing this FUD?

You must be on someone's payroll? Perhaps the PBOC?

I'm curious what you mean by "all the bullish signals suggesting another rapid run up in price this summer"...like i know that lots of people are saying that. But what exactly are the bullish signals that make it so clear?

In the news articles (about bitcoin) a lot of infrastructure is being built around bitcoin (I could list numerous things I heard of and it wouldn't be a quarter of what I could remember)  Facebook guy going to bitgo (recent).  Winklevoss Trading Fund ("WTF" - jk)  numerous atms, etc

Its based (mainly) on speculation (like what bitcoin is used to).  I asked others why the summer.  Some said that it is when the winklevoss approve their ETF (we seen that their original bank had issues, lets see if they get it soon).  

[gog1]

probably consolidating for the next move

[ShameOnYou]

Nice pump, volume back to normal = that means extremely low volume and still decreasing. The hype is over, average Joes are gone, have fun, bagholders. Nice try tho. BTC exchanges are dead, only bots trading on them and these bots only follow Huobi anyway.

lmao. We're still up ~25% in value from a couple weeks ago so why all the doom and gloom? In the face of all these positive developments and all the bullish signals suggesting another rapid run up in price this summer, you're still going to keep pushing this FUD?

You must be on someone's payroll? Perhaps the PBOC?

I'm curious what you mean by "all the bullish signals suggesting another rapid run up in price this summer"...like i know that lots of people are saying that. But what exactly are the bullish signals that make it so clear?

In the news articles (about bitcoin) a lot of infrastructure is being built around bitcoin (I could list numerous things I heard of and it wouldn't be a quarter of what I could remember)  Facebook guy going to bitgo (recent).  Winklevoss Trading Fund ("WTF" - jk)  numerous atms, etc

Its based (mainly) on speculation (like what bitcoin is used to).  I asked others why the summer.  Some said that it is when the winklevoss approve their ETF (we seen that their original bank had issues, lets see if they get it soon).  

But there has obviously been lots of news around much infrastructure being built around bitcoin during this entire downtrend. So that reasoning seems pretty flat. I guess the Winklevoss thing maybe. June 2013 was a pretty rough time -- hopefully we don't see a repeat with all these high expectations!

[DolanDuck]

The uptrend is started, low volumes after this fast climb doesn't mean anything in my opinion, we need some consolidation to set 570$ as the new bottom.

[eagles343]

what support level would have to break for the uptrend to be considered over or failed??

[Bitcopia]

what support level would have to break for the uptrend to be considered over or failed??

We'd have to drop below ~$450 and stay under for at least a couple days. But we're already 9 days out of the downtrend, there is good news everywhere, and sentiment is shifting to the upside. Reverting to the previous downtrend is highly unlikely.

[CEG5952]

what support level would have to break for the uptrend to be considered over or failed??

We'd have to drop below ~$450 and stay under for at least a couple days. But we're already 9 days out of the downtrend, there is good news everywhere, and sentiment is shifting to the upside. Reverting to the previous downtrend is highly unlikely.

I know we broke through the down trend line / triangle, but does that mean the down trend is definitely over? Unless we enter a definitive uptrend or we enter a range (the latter we won't know until some time has passed), I'd say we are swimming in no man's land, and that the downtrend could rear its ugly head again.

[nickenburg]

We didn't see 600$ yet but dont be so negative OP.
Tommorow is a good day for a rise again.

Ofcourse we could also go down again, but after a while down, the charts mostly go up after a while.
Especially after we had such bad news with mtgox, Wich the media could exploit.
So now all has settled down I think Bitcoin did really good and we can see a rise again with some good news!

[bassclef]

what support level would have to break for the uptrend to be considered over or failed??

We'd have to drop below ~$450 and stay under for at least a couple days. But we're already 9 days out of the downtrend, there is good news everywhere, and sentiment is shifting to the upside. Reverting to the previous downtrend is highly unlikely.

I agree. Don't look at the previous rise in terms of pass or fail. We got a nice rise with solid volume--I'd say that's a success. After a correction (which is inevitable at some point, we can't move up forever) the uptrend will likely resume.

[Marbit]

what support level would have to break for the uptrend to be considered over or failed??

We'd have to drop below ~$450 and stay under for at least a couple days. But we're already 9 days out of the downtrend, there is good news everywhere, and sentiment is shifting to the upside. Reverting to the previous downtrend is highly unlikely.

I agree. Don't look at the previous rise in terms of pass or fail. We got a nice rise with solid volume--I'd say that's a success. After a correction (which is inevitable at some point, we can't move up forever) the uptrend will likely resume.

Well I guess that's sort of the question. The "uptrend will likely resume" -- but if it won't, what signals are we looking for? I've been trying to figure that out myself.

[wachtwoord]

You must be on someone's payroll? Perhaps the PBOC?

You really think someone's paying the guy?

[bassclef]

what support level would have to break for the uptrend to be considered over or failed??

We'd have to drop below ~$450 and stay under for at least a couple days. But we're already 9 days out of the downtrend, there is good news everywhere, and sentiment is shifting to the upside. Reverting to the previous downtrend is highly unlikely.

I agree. Don't look at the previous rise in terms of pass or fail. We got a nice rise with solid volume--I'd say that's a success. After a correction (which is inevitable at some point, we can't move up forever) the uptrend will likely resume.

Well I guess that's sort of the question. The "uptrend will likely resume" -- but if it won't, what signals are we looking for? I've been trying to figure that out myself.

If we retraced back more than 75% of the current rise on heavy sell volume I would question it. Still, looking at last summer's chart you can see we retraced 50-60% after a strong ascent out of final capitulation, then the uptrend continued.

[Marbit]

It's tough, because if we were to fall back into a down trend, you'd almost have to wait for such a massive drop to confirm that's what was happening, rather than just a correction to the uptrend. Oh, trading...

[bassclef]

It's tough, because if we were to fall back into a down trend, you'd almost have to wait for such a massive drop to confirm that's what was happening, rather than just a correction to the uptrend. Oh, trading...

A correction will be a change in trend, just on a smaller scale. The larger trend would still be intact. I look for reversal patterns. Volume is important too. I'm looking at the 12h chart... sorta see a double top, maybe a h&s...declining volume makes me nervous... but you never know because Huobi could explode upward again.

[Marbit]

It's tough, because if we were to fall back into a down trend, you'd almost have to wait for such a massive drop to confirm that's what was happening, rather than just a correction to the uptrend. Oh, trading...

A correction will be a change in trend, just on a smaller scale. The larger trend would still be intact. I look for reversal patterns. Volume is important too. I'm looking at the 12h chart... sorta see a double top, maybe a h&s... but you never know because Huobi could explode upward again.

Ah, so here we are still with western exchanges simply following Huobi (and Okcoin)... how long will that last? If it keeps up, we are bound to be held hostage to news out of the PBOC, etc

[jamesc760]

I will be buying some coins on May 30, 2014 (two days from now). You can expect the price to drop the following day, which will be June 1, 2014. FML.