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porcupine87
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May 30, 2014, 06:04:01 PM |
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The breakout occured at $460.
correct Wasn't the break out, when the 400$ wall fell? |
"Morality, it could be argued, represents the way that people would like the world to work - whereas economics represents how it actually does work." Freakonomics
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oda.krell
Legendary
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Activity: 1470
Merit: 1007
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May 30, 2014, 06:32:56 PM |
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Which brings us back to the original point: you don't base your decisions on a single indicator. The end. I'm all ears. Please post refined appraisal incorporating the "other indicators"  Personally, I'm a big fan of Chaikin's banana flow index. If the banana curves upwards, we're going up, if the banana curves downwards, we're going down. Very simple, very reliable (5 sigma). Here's the current view:  |
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RockHound
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May 30, 2014, 06:44:14 PM |
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Heads-up guys:
1394.4 BTC @ $615.00 on Bitstamp, possibly about to get filled.
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MatTheCat (OP)
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May 30, 2014, 06:49:18 PM |
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Heads-up guys:
1394.4 BTC @ $615.00 on Bitstamp, possibly about to get filled.
It's gone. Taken down as was no doubt always the intention. ... ... ... ... Oh-HA! But what is this. It has returned! |
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toknormal
Legendary
Offline
Activity: 3066
Merit: 1188
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May 30, 2014, 06:53:04 PM |
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Personally, I'm a big fan of Chaikin's banana flow index. If the banana curves upwards, we're going up, if the banana curves downwards, we're going down. Very simple, very reliable (5 sigma).
Like it.  Bitcoin has encountered a few banana skins in its time and so having those on the radar should definitely mitigate future trading misery. |
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RockHound
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May 30, 2014, 06:58:57 PM
Last edit: May 30, 2014, 11:08:28 PM by RockHound |
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Heads-up guys:
1394.4 BTC @ $615.00 on Bitstamp, possibly about to get filled.
It's gone. Taken down as was no doubt always the intention. ... ... ... ... Oh-HA! But what is this. It has returned! Yeah it's a decent volume request - we're still $5 away being currently @$610. I'm having to hold off trading for now (UK Business Banking issues to sort) but loving my ~$480 buy-in. Cheers for your past advise and stuff mate! How's your positioning? |
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toknormal
Legendary
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Activity: 3066
Merit: 1188
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May 30, 2014, 07:01:42 PM |
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What's with all the $80.80's on there ?
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HigsonPP
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May 30, 2014, 07:02:39 PM |
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Did i read that right? MatTheCat is bullish on bitcoin?   |
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MatTheCat (OP)
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May 30, 2014, 07:06:01 PM |
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Yeah it's a decent volume request - we're still $5 away being currently @$610.
I'm having to hold off trading for now (UK Business Banking issues to sort) but loving my ~$480 buy-in. Cheers for you past advise and stuff mate! How's your positioning?
Well, I have limited myself to around 50% of the margins that I might have had if I had just held from $460. But I got cold feet at $520. There was a big nasty 2K BTC wall at $530 which definitely had a role in my decision to sell. Similar to this disappearing and reappearing wall that this whale joker keeps goading the market with right now. That particular wall was taken down and kept down as buying pressure rolled over the $530 in much smaller volumes. My next buy in target was $540. But I was in my bed. Since then, I have been a bit hot n cold, a bit in and out. Not lost any money (yet), but was anticipating some kind of meaningful correction, but then the buying pressure (all fake no doubt) enticed me back in at $601. So I am anxiously observing market to see what comes next. A proper correction must come. It is a question of when, as I have found out after leaving my perfectly timed $460 trade way way way too early. |
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MatTheCat (OP)
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May 30, 2014, 09:10:42 PM |
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Did i read that right? MatTheCat is bullish on bitcoin? I have been 'bullish' in terms of what I thought the prevailing trend was, since the break out at $460 and I will remain bullish (on the prevailing trend) until at least $750. This target hasn't changed since $400 range when it became apparent that Bitcoin wasn't going to take another dive, but spring upwards. I base my $750 target on my suspicion that we are in a kind of a Wave B, other than a Wave 5, which the masses here seem to take for granted that we are in, insofar as many here even know what a 'Wave 5' is. How the volume behaves on the way up will give a lot of clues on whether we are in a Wave B, or the much more bullish proposition of a Wave 5. |
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cbeast
Donator
Legendary
Offline
Activity: 1736
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Let's talk governance, lipstick, and pigs.
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May 30, 2014, 09:14:31 PM |
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We won't stay in this zone for long. Barring a large dump and recovery to 555, we will see the magical 666 soon. Not because it is popular with stoners, but because it fits the Rule of Thirds in both the 100s range and the 1000s range as well as being a lucky number.
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Any significantly advanced cryptocurrency is indistinguishable from Ponzi Tulips.
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Miz4r
Legendary
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Activity: 1246
Merit: 1000
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May 30, 2014, 09:24:45 PM |
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We won't stay in this zone for long. Barring a large dump and recovery to 555, we will see the magical 666 soon. Not because it is popular with stoners, but because it fits the Rule of Thirds in both the 100s range and the 1000s range as well as being a lucky number.
And it's also very close to the target for the cup&handle pattern that was formed at $548.  |
Bitcoin = Gold on steroids
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RockHound
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May 30, 2014, 10:53:24 PM |
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Yeah it's a decent volume request - we're still $5 away being currently @$610.
I'm having to hold off trading for now (UK Business Banking issues to sort) but loving my ~$480 buy-in. Cheers for you past advise and stuff mate! How's your positioning?
Well, I have limited myself to around 50% of the margins that I might have had if I had just held from $460. But I got cold feet at $520. There was a big nasty 2K BTC wall at $530 which definitely had a role in my decision to sell. Similar to this disappearing and reappearing wall that this whale joker keeps goading the market with right now. That particular wall was taken down and kept down as buying pressure rolled over the $530 in much smaller volumes. My next buy in target was $540. But I was in my bed. Since then, I have been a bit hot n cold, a bit in and out. Not lost any money (yet), but was anticipating some kind of meaningful correction, but then the buying pressure (all fake no doubt) enticed me back in at $601. So I am anxiously observing market to see what comes next. A proper correction must come. It is a question of when, as I have found out after leaving my perfectly timed $460 trade way way way too early. Remember your $460:$520 margin, I thought that was a good play, who knew we'd shot up to 585?? Eitherway brother that's still a great margin you made and at least you converted into FIAT profit. I used to be concerned with just the # of Bitcoins I hold, but now I'm happier realizing the FIAT profit. We got a decent amount of Bitcoins in offline wallet (These I won't consider touching until if/when price index becomes >$7000/BTC, so that's probably gonna be a long time!) The rest have been flipping on Localbitcoins @ 7-14% margins near instantly buying them back - it's awesome. However my bank, previously cool via my business account, maybe having a different stance, meeting with them on Monday. Not too sure about the next correction, don't think it'll be sub$600? I actually think if increasing personal BTC, you should be very careful June/July. If I can resolve my business bank account, we are going to reduce our transaction frequency and charge a >9% margin, just to be on the safe side. Seems the stability of price index whether it be via market manipulation or whatever is confirmed volatile right now. Working on an actual BTC web project at the moment mate, we got a small team (2 ) software engineers working for us, so that'll keep me busy. Let you know how it goes |
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YipYip
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May 30, 2014, 11:39:57 PM |
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[pretty graph]
Thanks for the illustration of what I wrote above. No need to discuss this further. I'm not the one playing catch and run with a price that doesn't do what I expect it to do based on faulty premises. Never ending bullshit about how he is right ALL the time FAKE WALLS LEAD BY CHINA DANV SUB 300 prices BIFINEX ARE SCAMMERS Did i leave anything out  |
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YipYip
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May 30, 2014, 11:43:21 PM |
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If the Chinese really wanted to scare us and milk as many coins as possible then why is it that they never went to the point of saying that exchanges would actually be shut down?
All Specialists/Market makers/Whales dont wont to KILL the market just scare it many many times but not to teh point of killing it Good book that explains it all while gioving you good VPA http://www.amazon.com/Complete-Guide-Volume-Price-Analysis-ebook/dp/B00DGA8LZC |
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figmentofmyass
Legendary
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Activity: 1652
Merit: 1483
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May 30, 2014, 11:52:15 PM
Last edit: September 24, 2015, 09:31:38 PM by figmentofmyass |
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If the Chinese really wanted to scare us and milk as many coins as possible then why is it that they never went to the point of saying that exchanges would actually be shut down?
All Specialists/Market makers/Whales dont wont to KILL the market just scare it many many times but not to teh point of killing it wouldnt kill the market. just some cheap coins. gimme gimme, i'm buying.  |
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isov
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May 31, 2014, 12:25:26 AM |
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We won't stay in this zone for long. Barring a large dump and recovery to 555, we will see the magical 666 soon. Not because it is popular with stoners, but because it fits the Rule of Thirds in both the 100s range and the 1000s range as well as being a lucky number.
Don't know why would stoners care about 666, I think 420 is more like their thing Not saying its going to drop or anything, I believe 666 is much more likely, 3day chart ema just crossed and everything seems bullish. |
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samurai1200
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May 31, 2014, 01:50:54 AM |
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Which brings us back to the original point: you don't base your decisions on a single indicator. The end. I'm all ears. Please post refined appraisal incorporating the "other indicators" Go read all of that and don't come back until you're done. That goes for all the noob traders. |
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ibankbitcoins
Newbie
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Activity: 30
Merit: 0
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May 31, 2014, 03:04:05 AM |
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I have bought in at $600, but am ready to bail back out should the break out fail and simply result in the final high of the leg up from $460 as posters such as ibankbitcoins suggests I was quoted. Successful kid meme. More seriously. 600 dollar resistance didn't seem to stand a chance. Breakout was strong. I expect 700-710. My second target |
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