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MatTheCat (OP)
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May 30, 2014, 12:32:39 PM |
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That looks like a break-out from the leading diagonal wedge that seemed to be forming from the $340 bottom.
Strong volume, although it still needs to confirm itself.
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.
Important to note before the denialists start trying to deny it, is that Huobi was once again, ahead of Bitstamp on this break out (2 mins ahead). We are still being lead from China.
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I HATE TABLES I HATE TABLES I HA(╯°□°）╯︵ ┻━┻ TABLES I HATE TABLES I HATE TABLES
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TERA
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May 30, 2014, 12:45:03 PM |
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The breakout occured at $460.
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piramida
Legendary
 Offline
Activity: 1176
Merit: 1010
Borsche
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May 30, 2014, 12:45:27 PM |
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We are still being lead from China.
What but they banned bitcoin five times! How that could be, definitely bearish since that means it's a trick and nobody's really buying anything right?  I'm just enjoying how simple it is to ride bitcoin bull. Most probably would go well above 700 before a correction to 600-ish again. We still have time, will be an enjoyable summer. Thanks bitcoin. |
i am satoshi
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segeln
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May 30, 2014, 12:49:45 PM |
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The breakout occured at $460.
correct |
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oda.krell
Legendary
Offline
Activity: 1470
Merit: 1007
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May 30, 2014, 12:54:21 PM |
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That looks like a break-out from the leading diagonal wedge that seemed to be forming from the $340 bottom.
Strong volume, although it still needs to confirm itself.
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.
Important to note before the denialists start trying to deny it, is that Huobi was once again, ahead of Bitstamp on this break out (2 mins ahead). We are still being lead from China.
Glad you bought back in time. Disagreed on the "led by China" statement. I made my case against that often enough now, so I'm not repeating it here. China is a large factor still though, so if it's just hyperbolic phrasing to say that, I'm okay with it. |
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MatTheCat (OP)
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May 30, 2014, 12:57:45 PM |
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The breakout occured at $460.
That was one breakout. Thee major breakout. I caught that one and jumped off at $520. I rebought in at $571, but got cold feet at $585. That was before the rise to $595 and the subsequent drop to $550. Since then we have had a triangle/flag formation, from which we have broken out, and now have also broken out from the trendline connecting the previous two significant highs ($547, $595). I am now in again since $601. |
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MatTheCat (OP)
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May 30, 2014, 01:00:06 PM |
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Disagreed on the "led by China" statement. I made my case against that often enough now, so I'm not repeating it here. China is a large factor still though, so if it's just hyperbolic phrasing to say that, I'm okay with it.
The volume surge on Huobi was 2 minutes ahead of Stamp. This isn't up for debate, it is there in black and white (or red and green). Sorry, but this happens almost 9 times out of 10 and it cannot be ignored. |
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DolanDuck
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May 30, 2014, 01:00:13 PM |
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I'm not sure that buying at 600$ is the best move, after 30+% in few days I'm expecting a correction in these days,
but who knows, with bitcoins all can happen...
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MatTheCat (OP)
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May 30, 2014, 01:02:06 PM |
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I'm not sure that buying at 600$ is the best move, after 30+% in few days I'm expecting a correction in these days,
but who knows, with bitcoins all can happen...
So too was I. But the whales seem determined that Bitcoin will be pumped and who is to argue with them? Could be we top out at $650 for this leg up before 'the correction' hits, could be $617 was the top. But 4 Hour MACD looking good, as is 4hr stochastic, KDJ, OBV. The one too watch is the RSI....showing positive divergence up 1hr period, still looking to prove itself on 2hr and 4hr charts. |
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zimmah
Legendary
Offline
Activity: 1106
Merit: 1005
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May 30, 2014, 01:05:48 PM |
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That looks like a break-out from the leading diagonal wedge that seemed to be forming from the $340 bottom.
Strong volume, although it still needs to confirm itself.
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.
Important to note before the denialists start trying to deny it, is that Huobi was once again, ahead of Bitstamp on this break out (2 mins ahead). We are still being lead from China.
why the fuck did you wait for it to hit $600 before buying, while it was sitting on $420~$570 for weeks. |
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TERA
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May 30, 2014, 01:09:06 PM |
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The breakout occured at $460.
That was one breakout. Thee major breakout. I caught that one and jumped off at $520. I rebought in at $571, but got cold feet at $585. That was before the rise to $595 and the subsequent drop to $550. Since then we have had a triangle/flag formation, from which we have broken out, and now have also broken out from the trendline connecting the previous two significant highs ($547, $595). I am now in again since $601. Why are you even attempting to trade during a bull market? This is your opportunity to just move your coins into cold storage and avoid mistakes and exchange risk alltogether. |
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akujin
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May 30, 2014, 01:10:13 PM |
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BTC: 165rKPfGJ3ndrG1QziHR6ACnViP4EQHNK7
LTC: LMysGMFjmF9gR9RzStij74msXrDP1NqW8X
DOGE: DRZXGgcKN8kANwko3VycsBVVGqfy6XsSpM
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piramida
Legendary
Offline
Activity: 1176
Merit: 1010
Borsche
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May 30, 2014, 01:11:03 PM |
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Why are you even attempting to trade during a bull market? This is your opportunity to just move your coins into cold storage and avoid mistakes and exchange risk alltogether.
Yep, already missed the 520->570 gap + exchange fees + nerves and time = not worth it. |
i am satoshi
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segeln
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May 30, 2014, 01:12:02 PM |
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Why are you even attempting to trade during a bull market? This is your opportunity to just move your coins into cold storage and avoid mistakes and exchange risk alltogether.
well,that`s not the way MatTheCat is going to do. Gambler |
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TERA
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May 30, 2014, 01:12:55 PM |
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If this is in fact a rising wedge and breaks down, it would set the stage for this being a B wave of an ABC. (I am not betting on this though) |
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MatTheCat (OP)
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May 30, 2014, 01:13:41 PM |
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why the fuck did you wait for it to hit $600 before buying, while it was sitting on $420~$570 for weeks.
I bought in at $460, and out very prematurely at $520. I was asleep when Bitcoin broke through $540 which would have been my buy-in confirmation target had it not been 4am where I am, when the break out happened. I was in and out near top (at small profit) just before the correction to $550. I never held my $571 position because I had a dream of Bitcoin correcting to $500. A couple of days later we got to $550, which seems to be as low as it goes, for now..... I hope. But looking at the charts and the all the indicators I like/use, suggested to me that there was likely a bit more correcting to come. But when a 2K worth of orders hit Stamp out of knowhere, it kind of turns all those indicators on their heads. If this is in fact a rising wedge and breaks down, it would set the stage for this being a B wave of an ABC. (I am not betting on this though)
This is what I am/was betting on. If we are in a wave B, then it would be a Wave B correction from the $1160 - $340 crash. That would imply a typical $750 price target being met as a 50% Fib retracement. However, for that to be the case, then the huge descending triangle from $1160 down to roughly $380-$400, would have to constitute a Wave A contrary to my previous EW attempt posted in oda.krell's thread, where my wave count breaches an EW rule. Are there many examples of a corrective Wave A, playing out as a triangle formation? If the triangle formation theory were to be dismissed, then Wave A would have to constitute a 3-3-3 zig-zag combination? |
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MatTheCat (OP)
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May 30, 2014, 01:20:12 PM |
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Doppelpost
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zby
Legendary
Offline
Activity: 1592
Merit: 1001
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May 30, 2014, 01:22:32 PM |
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That looks like a break-out from the leading diagonal wedge that seemed to be forming from the $340 bottom.
Strong volume, although it still needs to confirm itself.
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.
Important to note before the denialists start trying to deny it, is that Huobi was once again, ahead of Bitstamp on this break out (2 mins ahead). We are still being lead from China.
Have a look at finex charts. |
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log2exp
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May 30, 2014, 01:29:51 PM |
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 Sometimes a bull breakout does not end nicely  |
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MatTheCat (OP)
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May 30, 2014, 01:34:41 PM |
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That looks like a break-out from the leading diagonal wedge that seemed to be forming from the $340 bottom.
Strong volume, although it still needs to confirm itself.
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.
Important to note before the denialists start trying to deny it, is that Huobi was once again, ahead of Bitstamp on this break out (2 mins ahead). We are still being lead from China.
Have a look at finex charts. Yeah....that is why I hate Bitfinex. Fake Walls R Us. Some poor cunt obviously made a panic 'market order' buy on Bitfines, only to discover that the thousands of BTC making up the Ask wall above him were but a 'mirage'. I fucking hate Bitfinex. Crooks operating a fractional reserve Bitcoin exchange, with fake volume and insider trading for sure! And still, Bitfinex was also 2 minutes behind Huobi. |
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