Oh the Cognitive Dissonance

[N12]

Can you feel it?

Does it hurt?

I can sense it.

[teflone]

I farted.. sorry...   

[Oldminer]

Nope

[N12]

Can you feel it now, Bears? Can you feel the cognitive dissonance now?

Will you recognize it early enough to get your coins back, and perhaps some more?

[Oldminer]

Can you feel it now, Bears? Can you feel the cognitive dissonance now?

Will you recognize it early enough to get your coins back, and perhaps some more?

lol. Dud rocket....

Just wait til the weekend sellers arrive..

[proudhon]

Can you feel it now, Bears? Can you feel the cognitive dissonance now?

Will you recognize it early enough to get your coins back, and perhaps some more?

lol. Dud rocket....

Just wait til the weekend sellers arrive..

You mean the ones that already sold all their coins this week?

[ineededausername]

Can you feel it now, Bears? Can you feel the cognitive dissonance now?

Will you recognize it early enough to get your coins back, and perhaps some more?

lol. Dud rocket....

Just wait til the weekend sellers arrive..

You mean the ones that already sold all their coins this week?

Hey Oldminer, even proudhon's more bullish than you.  I'd change my mind if I were you

[Oldminer]

Can you feel it now, Bears? Can you feel the cognitive dissonance now?

Will you recognize it early enough to get your coins back, and perhaps some more?

lol. Dud rocket....

Just wait til the weekend sellers arrive..

You mean the ones that already sold all their coins this week?

Hey Oldminer, even proudhon's more bullish than you.  I'd change my mind if I were you

Nah Im longterm short  

Oh, and I like it when I share a minority view of the market.

[ineededausername]

Nah Im longterm short  

Oh, and I like it when I share a minority view of the market.

We've got another proudhon here

[dree12]

I think I'm going to join the proudhons for now. Bitcoin needs a period of extended hyperinflation so it can see more economic use. Of course, need is not the same as will happen, but since I hope the price will go down anyways I'm effectively short.

[OgNasty]

proudhon, proudhon, we've got proudhon here!

[Jon]

Bitcoin needs a period of extended hyperinflation so it can see more economic use.

Yes, that would work flawlessly(!) It's not like people come to Bitcoin as a store-of-value(!)

[N12]

Nah Im longterm short  

Oh, and I like it when I share a minority view of the market.

1. Good, then you won’t mind this weekend rally.

2. Minority view? Have you had a look at the all-time daily chart volumes? You are the sheep.

[Koekiemonster]

I think I'm going to join the proudhons for now. Bitcoin needs a period of extended hyperinflation so it can see more economic use.

The best is a high price. This will draw a lot of attention to Bitcoin!

[N12]

I can still smell your denial.

You cannot comprehend what just happened. Must just be a brief bounce, we’ll have new lows in a few days. Right?

Have you had a look at the alltime daily chart with volumes? What does it tell you?

[smracer]

I can still smell your denial.

You cannot comprehend what just happened. Must just be a brief bounce, we’ll have new lows in a few days. Right?

Have you had a look at the alltime daily chart with volumes? What does it tell you?

Correlation between volume and price?   

[N12]

Extremely high volume selloffs - and this time even multi-day - mark capitulation.

We had a nice capitulation. I can safely hold your Bitcoins now for a while thanks to you fools. Finally.

[Spekulatius]

Can you feel it now, Bears? Can you feel the cognitive dissonance now?

Will you recognize it early enough to get your coins back, and perhaps some more?

We shouldnt rejoyce too early! There is no breakout of the downturn, unless 4.80 $ and later the weeker resistance of 4.90 $ is broken.
Furthermore, we are dancing on the edge here (support at 4.30 $).



Hope you dont develop a cognitive dissonance from that Blitzboom

[N12]

Zoom out and look at the alltime chart + volumes. The resistance is meaningless. What people have done for 6 days consecutively now will break it without a problem. The question is how much resistance the broken long-term trendline will pose in the mid 5s.

But I’ll remember your view, thanks for the reminder.

[Spekulatius]

Zoom out and look at the alltime chart + volumes. The resistance is meaningless. What people have done for 6 days consecutively now will break it without a problem. The question is how much resistance the broken long-term trendline will pose in the mid 5s.

But I’ll remember your view, thanks for the reminder.

Lets look at some indicators:



+ The volume you mentioned is indeed indicating a declining selling interest. What a rising price needs now however is rising volume with the price going up at the same time to confirm a recovery. Unless the breakout (look my 2 posts up) at around 4.8 $ is not achieved the intermediate recovery could only be called consolidation and is bound to go down further.
+ RSI is positive (but could down further)
+ We have reached pre-rally level (most bubbles I know of ease out around or sligthly above this level)

- EMA 10 and 21 are negative
- Parabolic SAR is negative as well (not in picture)
- overall market sentiment didnt reach capitulation/despondence yet in my perception
- lots of FUD lately, new bad news every day (FINCen, bitcoinica legal complaint,..)
- in order to generate a positive indicator the "cup & handle" chart pattern visible in every 5 day intervall needs to close above 4.9$, otherwise a further drop is likely

+- What are Manipulators doing? Not much activity lately --> A impending major move becomes more and more likely the more we progress in time

In conclusion, I am more bearish rigth now. Everything depends on a breakthrough 4.8$ (4.9$) to confirm or reverse these indicators.

Thanks for sharing your views