Could someone explain in simpleton terms this type of chart please.  I have seen it 100's of times but never understood it.

Thank You!

So from the chart it means there are more people waiting to sell above the current price than there are people wanting to buy below the current price?

Is the chart Gox or another exchange ?

not long now till the main sell off

all good things come to those who wait.  Patience is a virtue  

That assumption is wrong and originates from dow theory.

Sure it may have been true 100 years ago when news came from, the local rag, the grape vine and the man down the pub!  

But it's the 21st century with live news and the internet, that theory is 100% bollocks!

As far as I understood it, dow theory states that by the time news is common knowledge the price has already been effected.  But this was back when communication was slow.  Today you may well stumble upon news before it's mainstream and watch for the early signs the price is changing.  Where as 100 years ago the price went low then later you heard why it happened.

Like when I heard about silk road.  I read a post on this forum and went to btc-e and the price had only just started to move.  The person that wrote the thread could have sold before he even wrote the thread about the silk road and dumped before any market change.  I was one of the first to see the post and sold all my LTC just in time, before reburying later.  

I see your point. but as a community, we keep growing. at some point bitcoin will change from a niche to a real threat...  After time the general population will be educated to the benefits and in my opinion, given the option, the ability and knowing the facts, most people would prefer to use bitcoin.

having said that... the short term future is not so great, and the recent problems, are not going away overnight.

it's a hoax isn't it?

:p

can people cash out or not?

if true.. are you sure it's good news?   the problem with the malleability is still there to be abused.

won't they will move their coins to bitstamp and btce to dump?

what?  I think you have read too much GA propaganda.

just because gox withdraws were to do with overly modified source... does not mean jack shit, the malleability issue still exists as a way of manipulation of the chain no matter how small, no matter if overall balances are not effected , bitcoin still has an issue.

I have seen these issues when testing hard forks with coins I have been working on.  

feel sorry for the guys that brought at $500+ on gox

the more I look at the gox action..  the more i'm convinced,  all people are buying and selling is a database price.   someone inside at gox is selling coins that don't exist in attempt to move the other exchanges.  while gox try to replenish their coin balance...

just a thought! 

http://postimg.org/image/fc03hwimh/

Can't even log into gox !!!   it just hangs and comes up with some foreign words instead of login

then why haven't they brought coins yet?  

I have some $ there too,  and I'm not buying because, well, how can I sleep knowing I am holding BTC at the moment...

+1

The price was going down before any bad news. it's been dropping since Jan 6th. followed by a string of bitcoin bombshells.   it's the same old people singing the same old song for months.   They see 10 mins of green and it's "choo choo" all of a sudden.

With so much negative press in the mainstream media, I also fail to see where new big investments will come from...  The $10,000 believers are in denial the $30,000 believers should be given a straight jacket, and the people that think we'll ever hit $1200 again are also deluded.  
  
It's every man for himself on the way down Imho.

do you have a source?

Is it me or does the OP keep changing the Poll question after people voted to suit his bullish agenda?

I am sure the question I voted on said "will the price be below $500".  So i voted yes. 

Now it has a different question, with the same votes/results...

or should I stop drinking?

Yep.

The latest one?  

People in glass houses....


"always HODLING"

Could you not work out my point? 

strange..

you can only buy CNY at a loss ?? wtf?

Thats almost universally agreed.  I even threw away my 2013 calendar  

edit for spelling fail

Chinese traders will be waking up soon, and I reckon there would be less than normal holding over the weekend.  There is bound to be some sort of mini rally in 2 - 3 hours.  Even if it is short lived.   We will get close to $500 again,  after that, who knows.  

So we should hit the bottom on April fools day?

more like this

hmmm  

It took 48 hours to gain $40, then just 3 hours to wipe the progress out.  

And we are going lower still.   What part of that is bullish?    

same here

they do look attractive at $12

here we go again. 

759 buy on huobi

all is not lost

yet...

has someone hacked your account

I would decribe myself as bearish.

But I'm pretty sure we will have a bit of panic buying soon.  

Fonzie.  You claim not to be a trader.  What do you do for a living ?

yet there's a lot less ask's then there are bids, but they keep dumping.  strange.

Chinese forum post "why banks should ban bitcoin"

http://translate.googleusercontent.com/translate_c?depth=1&hl=en&prev=/search%3Fq%3D%25E6%25AF%2594%25E7%2589%25B9%25E5%25B8%2581%25E8%25AE%25BA%25E5%259D%259B%26client%3Dfirefox-a%26hs%3DTzr%26rls%3Dorg.mozilla:en-US:official%26channel%3Drcs&rurl=translate.google.co.uk&sl=zh-CN&u=http://www.btcbbs.com/forum.php%3Fmod%3Dviewthread%26tid%3D12609&usg=ALkJrhjgBdSejyW2c567efuI_WXtna3ubw

Now now!

Hes right.  For the duration of the candle it's an uptrend :p

but gibbtek, if you want to learn a bit more knowledge, this is a good start.  Basic but good advice for trading.

http://www.youtube.com/watch?v=4lc8788xU7Y&list=PL33D0C18CDEBF64B7

A bull:  someone that wants the price to go up
A bull trap:  a short uptrend.  the bull buys but then the price drops.

The bear is the reverse of above


FUD : fear, uncertainty, doubt
TA: technical analysis
Hodl :  A spelling mistake and (doge) version of Hold (don't sell coins)

Red candle.  price down
Green. price up



firecracker: is a stupid annoying song.

Mini rally just starting now.  personally don't think you will get $9.99 LTC.  at least not today

nope not till it hits 2797 on Huobi 

then and only then will it go back down!

nice little bull pendent formed on Huobi 15 min chart.  The result should take us to 2700 ish for a while before breaking through to 2790 ish, then the downtrend will resume.

Just my thoughts.

+1

it's almost 9pm in China

So why is the time identical ?

6pm in China

This is how i see it.  someone posted something similar before.

it will keep going up for now.  but then in a few hours it's decision time  

it's the middle of the night in China.. they are all in bed

rally in 7 mins.    

7 hours 

Whats more strange is why they always release statements at trend-line convergence.   I said yesterday the top on Huobi would be 2797.   We made it just short at 2789.  But just before we got there, this "new" news.  

All the news from Chinese exchanges has come at very dubious times.  

It's not really a scam.  He says in the listing

"NOT Virtual Currency, You cannot load it with LTC"

anyone stupid enough to buy it deserves to get ripped off

same pattern last time. followed by a huge dump

I make it 8.5 hours.  Then the market will decide

Then im all in  

& a permabear becomes a bull

I flipped the chart.  Looking at the reverse sometimes helps me form a decision.

I'm still undecided.


Anyone got any ideas on the TA ?  


The time is not UTC but actually GMT  sorry about that on the image i posted earlier.

(2:30 am UTC)   3:30am GMT

I can make a reverse flipped collage from fruit salad and backjacks if you want.

Yup   n iead which way it'll go though.


time should be 2:30am

Not sure what your talking about!

Are you saying we are not at a crossroads / pivotal point?

Or are you saying, that the chart is wrong ?    the chart is Huobi,  not stamp.     it's the huobi 15 min chart!

here what it looks like now.  as you can see it broke out a little, but lets see where it is in 80 mins.

fair enough..  lol

I used to think I had all the answers.  Over the last year or so I have come to the conclusion, I know very little.  

Yes I always get confused ,  seen as Greenwich is in London, and for half the year GMT is UK time.  but now we are GMT +1 in England.   (British Summer Time) BST

so it's 3:30 UK time 2:30 GMT.

anyone got any credible stats on percentage of trades by bots?

I got the time mixed up.

1 more hour yet. then Im sure the price will show me the way to go

1000 BTC buy on huobi

I'm a permabear, but just spent my last $$.

I hope so, after weeks of negative press, this is what BTC needs, regardless of what camp you're in.

Even fonzie deep down wants the price to go up.  just he wants it to happen when he's hodling

At least I was pretty close with the time 3:30 (3:19 actual time)

Not really out of nowhere.  3:30am had been mentioned by someone as the flashpoint

At the moment BTC-e looks the most pessimistic of the major exchanges. 

to be honest the market has already reacted to this several times.

Yep the market will need to decide again soon.  

I make it up to 2 hours to decision time, however it's not certain it will take a dive.   I see it as another 50% 50% decision.  Either way I will act.  

From my calculations.

In the next hour, the price will either drop.  if Huobi drops to under 2777 then, we will have another round of drops.  However if in the next hour the price jumps up, it could go to around 2810, if we hit 2810, then it will be another 2 hours before we know if it's going up or down again.  

Of course a big movement could change the current course quite easily.  

A large dump or Pump from now to the next 3 hours could be decisive.  

Either way in there will be some big movements within the next 3 hours.  Good luck to all.

If the price goes to 2840 then it's bullish.   (just my opinion)




EDIT:  Looks like we are going down!

Not 100% sure yet, but it's the first time in 3 days Huobi has fallen outside the support lines.

Confirmed !  :0

It's worse than we thought

looks like huobi not calling the shots! 

Did not expect this pump

Looks like we will need to wait longer

next flash point will come at around 8pm UTC by the look of it.   (in 4 hours)

Then there will be a real battle.  

and what if Russia invades Ukraine?

I have no idea which way it will go.

But it can't be a bull pendent, as a bull pendent can only be formed at the end of a strong up trend.  

You must be thinking of a bear flag.  

Huobi has taken a different direction now.   everyone is just waiting for someone to make a move.   

In terms of the type of pendent.  Heres what it suggests.  

But,  obviously there are other factors.  

They are the same!  The bull and the bear pendent /flag.    The only difference is the direction they started from.   For example all the bearish pendents / flags come at the end of a down trend,  and all Bullish pendents / flags form at the end of an uptrend.

look at all the examples and look where the price line started.

LOL,  who knows   maybe you're right..

Things will move in the next 20 mins I think.. 

You're not getting it are you....  2(a)   is impossible.  Because 2(a) the price starts from an uptrend.


The price can go up.  But it's not any kind of flag / pendent.  

There is not trading pattern for what you are suggesting.  

Look at 2(a)  and look at he start of the line.  Where the price came from .


The only thing that distinguishes 2(a)  form 2(b)   is where the price came from.   Other wise how could a trader use it to predict the price?   because the 2 flags are the same.  (apart from the the start)

IE you must ether the triangle from below not from above.

Do you understand now?

true.

but the current situation? 

Flag / pendent  patterns are continuation patterns...  not trend reversal patterns.  

http://www.youtube.com/watch?v=SqCFhhou3SM

http://www.youtube.com/watch?v=_0-SJNnnHFM

Nice try!

why are you just making stuff up and spreading FUD ?

your lines are simply drawn to suit your agenda!  the ones I drew are the actual support. 

Bitstamp is the most bullish at the moment.  but the volume is less and less on each rise. 

Thats why it's call a bear flag.  when you reach the top the bulls are out of ammo.

OK coin and Huobi already broke out of support lines downwards. 

I fear it's not a reversal.  It's just the next bull push up before the next drop.  unless we have some good news, (i think) it's just the motion of the ocean.  nothing changes.  If it stamp or btc-e break 500, then I'll eat my words.  



Volume decreasing each pump /push.  It's not bullish overall. 

here my thoughts.

If we were to break 500 then it's looking good.  but if you follow the current trend line that will take us to April 15th to reach $500.  Volume on the uptrend will run-out long before this.   in about 18 hours is a rough guess.  

When we go down next time, if the bottom is less then the last time (416 stamp, then the charts may show a reverse shoulder),  3 dips, with the lowest dip in the middle... then you will see a real bullish pump and we may be out of the woods.

We may get some more bad news and China ban bitcoin again.  Or there may be some good news.  

So put simply,  Chinese bed time = coin dump because they only want to hold fiat overnight?

well said.  I agree 100%

the only thing that's driving these uptrends is fear of loss and consolidation.

The volume on stamp is tiny.  it's not big on btc-e.

Like it or not Huobi and Chinese exchanges are dictating the price movements.  There are plenty that don't want to sleep on BTC.  it's 21:37 in China as i write. As others have pointed out it's a national holiday.

I think there is about a 3 hour window before a bigger dump starts.  

Just my opinion...

My brain is not as big as a lot of people on this forum and I can't claim to fully understand your method.  But i can grasp the concept (I think).  

I like to use more, visual prediction methods.  Looking at your diagrams there is obviously some truth to it. Are you saying even though the volume is low at these times on Huobi, the overall sentiment is like an amplification of feeling causing a chain reaction, through the collective "final trade" of the night?

You made predictions last night.  Do you still hold true to those predictions?  where do you see the price going in the next 2-4 hours?

Huobi is bang on the trend line now.  It needs to break 2880   .  it's at 2869  now and needs another 635 BTC to move up just 11 CNY.

If it fails it's bounced off the trend line twice, thats pretty bearish.  if it succeeds then I'll buy.

that really made me lol.

Edit.  It's been bouncing off that line since 12th Dec.

It's only been above it only once for any sustained period,  after the Gox made the bankrupt statement.  the price rested on it before dropping under it again after the next "China Ban" news.  

As you will notice, it's there again but fails to get through it.  Im not saying it won't break it again,  but there is strong resistance on this line.

If it breaks this line, you will see a strong bullish surge.  like wise if it fails, then, there will be another sell off.   (small or big)

maybe you need some glasses!

It bounced off again after the picture was produced on 14th July..   before breaking again.

You're not missing anything.. he asked for an example and I gave it.

I'm not really arguing the case that much that the resistance line will become a support line.  Just saying there have been examples in the past.  I'm happy to buy if we break this line strongly.  

But that resistance line that has been there since December, it's still valid.  And all exchanges are pushing against it now.

As the trend is slowly downwards the longer it touches it without breaking through the more, chance there is for a further sell off.  Why would someone watch their coins slowly devalue?  And the MACD will also be a factor the longer we sit on this line without breaking it.  

Yes but they could sell off now, knowing the price is dropping at a minimum of 2 CNY per hour.  On Huobi with no fees, that's a no brainer.

Im not saying there is not a chance to make it through.  At the moment i'm betting we don't,  when the Chinese wake up in a few hours, we'll know.  

One thing I think will happen is the volume will be around 25k BTC in the hour between 1-2 am UTC.

Ohh yep.. I forgot about that.

scratch what i said about 25K / hour volumes when china wakes up on Huobi

Still bouncing.

Im not  sure it's following that line anymore, it's following the trend line from December.  

There was just a 560 BTC pump in the last 5 mins.  As soon as it tries to break through new sell walls appear and it fails.  

I really don't know.  At the moment (and since December), this line seems to have a gravitational pull.   It goes over,  It's  pushed back down.   It's goes under It's sucked back into it.

My only predictions are of the conspiratorial variety.  Like there are higher powers with extreme amounts of bitcoins and fiat.  

The line is like a black hole.     It's being pumped again now on BTCE... it's crazy amounts of money with not much movement.  

agreed.   I think they have been playing it for a long time though.

100% agree. 

Not even sure it's people.  It feels like it's something bigger like a corporation, hedge fund, or some government with unlimited funds.   

maybe there are more than 13 million BTC out there, and we're all getting scammed to hell. 

3 black crows ! huobi

im guessing it's 1 min btc-e

ouch!  for real ?   do you remember the time and date it was last seen?

I hope they throw the book at the desert coffee guy.

as for going off the chain. It's very easy, I bet about 10% of other alt coin forum members know how to do it.  

just the connect=x.x.x.x (ip address) is needed in the config file, and change the seed node in net.cpp  change the p2p port. then recompile, connect with 2 PC's and you can mine getting all the blocks on a different block chain, forked from the original at the point of divergence.  

Not that, that will get you anywhere,  but it just shows how easy some stuff is if you mess with the source code.

There will be someone out there, thats cleverer than Gavin Anderson or any other member of the BTC team.   It worries me!  Bitcoin is still beta!  and we are still experimenting...  

the forum member Dreamwatcher developed a tool that may save the situation in the future.  It's a distribution tool,  meaning that bitcoin if needed can be changed into a whole new crypto,  and the existing balances can be maintained from the original chain.  

He used it effectively on UFC coin when it moved from scrypt hash to Blake256.

Open a new wallet on the new coin, with your old wallet.dat file and your coins magically appear.  These guys are so cleaver it's scary.  

looking at that 480 - 410 drop, the only similarity I can see between now, and then is the 4 hour MACD,  they are at very similar stages. and about the same volume.  

Maybe this is triggering the bot.  




EDIT: 4 hour MACD

arrr...  yer .. Im with ya now   Yep trading a database number price not actual BTC.


  I guess if BTC does survive the next few years, people will move to regulated exchanges.  what makes BTC great is also it's weakness.   

both occasions we were also touching the December trend line.  

I guess the further down we go the less this bot has an effect..  

Might be possible in the future to actually make money from the bot by predicting it's arrival .  It would take a lot of planning, but, easy money by the look of it.  

It appears to be munching through an average of 50 BTC a minute, and not a lot is stopping it.  

in 8 hours...

between 19:30 and 20:30 UTC there will be some action.  

4 Hour MACD will cross over at this point.  It's the middle of the night in China and apparently a holiday.   Maybe some bot action, or insomniac whales..




Edit:  BTCE and Stamp form similar pictures, but their data suggests the MACD cross over may be later in the night. 

They are talking about a peak of $6000.

That would mean the market cap would need to move from 5.5 billion to + 75 Billion.   Who is going to fund this ?  Because I'm not and I doubt the whole bitcoin community "all in" could fund 75 billion.  

So where does the new investment come from ?

13 times it's current price, needs 13 times as much money.  Who is going to fund your dream before you dump your nice 13 x profit?

EDIT:  im not talking at you specifically, but at the people in this link you sent.

and as soon as the price rises the demand falls.

372  in 18 hours..

don't worry, just getting started!

I don't think you;

A.  Have enough $

B.  Have enough time.  Next round of dumping starts within the next 30 mins.

That's so true.

So he's thrown in the towel, but tries to make it look planned!

VLADIMIR PUTIN  is an anagram of  "I'm valid turnip"

.... DUMP

Reading on BTC-e trollbox that bitcoin CEO found dead 

huhh ??

do you have the chart upsidedown? 

You'll get your dream... but unfortunately you won't be able to profit like the rest of us. "always hodling"

arrr so...  maybe change the sig to

"Always Hodling... Sometimes "

getting in before 6001  

 DELETES POSTS UNTIL AT THE TOP

Hmm..  

are you serious ?   The price is only $10  away from the trend line that has only been broken once in 2014.  

The 4 hour MACD is pointing down.    So tell me what are the reasons to buy ?  

The Pump and Dump Bot just showed up on BTC-E again. 

Looks like we are going down, if it works as intended. 

Just made $60  off the btce death bot

It has been active a few times apparently.  I only seen it once.  It has the power to move the market  that's all i really care about    maybe it's btc-e trying to create a glut of action.. after all to them it's probably profitable.  

From yesterday

True.. but, what can i say, i'm a risk taker.  sound advice though, thanks, I'll be careful.   Maybe :p

These guys have done some TA and are buying today.

BTCE are not letting me cash out ! 





I wrote to their support.

"Please remove withdrawal restrictions on my account."


and got this reply!

"Hello, it's actually difficult to understand what's the problem. Tell me please what's your question? "

I'm on my 3rd ticket now.  They just send BS responses.  I sent them a screen shot this time!  If they come back again with more, strange replies I'll be getting very worried.  

I want to move to Stamp.

yep!  I'm waiting for the next response before losing my rag with them. 

I want to sell some BTC on bitbargain and the rest i want to move to stamp and start trading there.  I no longer trust the Russians.

Damn straight!!

I would wait another hour or 2 before making your mind up on that.  

The final shoulder in the pattern you think you are seeing needs to go up to form a reverse head n shoulders.  And as the 1, 2, 4 hour MACD are all going down.  how will you get this reversal of fortunes?  

April 2nd.  looked the same and look what happened next.   That trend line needed to break through has only been breached once since December.  What makes you so sure, it will happen now?

EDIT:  2nd April

I'm ready to turn bull when I see it.

But so far not a sniff. 

still small volume though and as soon as it tries to break this line you will see massive resistance.  

now on the 6th Ticket to BTC-e asking to be able to withdraw BTC. 

Finally may be getting somewhere.  just need to send TX screenshot, topup history and my IP address.    Then i should be able to send BTC out of the exchange. 

BTC-e death bot doing the rounds again !

 

That made me piss myself laughing.

Looks like another push on Huobi to break through the December trend line. 

I see it more like this at the moment

http://www.forbes.com/sites/perianneboring/2014/04/08/breaking-rep-stockman-to-introduce-first-bitcoin-bill/

Bitcoin Bill in US congress

not sure what effect this will have.

So far all i see is sell orders lining up!

I think we have tested the top long enough.  So i'm turning very bearish again..  I could be wrong.  I frequently am, but here is my possible worst case scenario for the next 2 days or so..

Yes I wrote that, because certain bulls seem to be overly sensitive to any graph that does not contain either a train or the words choo choo.  I was trying to soften the blow, towards these premenstrual bulls.  


And any future prediction is just that a prediction,  how else do you want me to represent a future prediction, without making it up?  Seems strange you think I should make a potential prediction but base it on fact.... bit of an oxymoron.... I know that all future prediction charts with trains are quoted as fact, so I shall do that in the future.


Also an Ass is not a body part it's a member of the horse family.. The word you're looking for is arse!  

Fair points!

I did have a feeling deep down that you were referring to a sphincter,  but without putting my finger on it, there was no precise evidence to call upon.  


I will say though, that until we have good news, the previous trend is unlikely to get reversed.  and the trend lines, I posted do accurately represent the past weeks.   The chart would be the best guess for anyone studying the data if they didn't know anything about bitcoin and they had no other information to go on.   Stick that data in an algorithmic computer prediction without any fundamental information, and it would come to a similar conclusion.  

But because this is bitcoin, and it does have support, other factors do need to be considered. I take that point.  So with that in mind, my personal opinion is bottoming out is far more likely than a reserve pattern forming without some fundamental positive factor.  

Many bears will have a price in their head, and the further we go down the scale the more likely we are to reach that equilibrium.  

A double bottom is a good scenario for the bulls, or a slow drop until we reach the equilibrium stage.   but while we keep touching that trend line and the 15th of April is approaching, the average price is dropping at a rate of about $7 a day, relative capitulation, followed by stagnation with some stability might be not such a bad thing for bitcoin at the moment.    

Attempt 5? 

The volume is low.  This is looking more bearish to be honest.  It could trigger a sell off.   (just my opinion)

I see bots are buying but not a lot else. 

here it comes.   China, making the first move

Happy Anniversary to April 2013's, Bag Holders.

Got you a nice cake and some commemorative red candles.

First bite at the BTC-e sell wall  


EDIT: now it's gone

Interesting if it will still be a gain by 13th April

No one is buying and no one is selling.

while the price is dropping on average of $7-8 per day.   The scales are tipped only one way imho.

sorry my mistake, it's $5-6 per day.

This chart could not look more bearish if it tried!

from 1min 3, 5, 15, 30 1h 2h 4h 6h 12h 1d 3d 1w .....  on btce at the moment all MACD are either pointing down or are level about to point down.   

huge dumps everywhere

All MACD in the red... you are missing the point

Lolol  

just checking... you're being sarcastic ... right?

EDIT: dude is serious

thats the funniest thing I ever read...


"people buying on Huobi (probably wall street)"


how exactly are they funding this?  how will they deposit their money?   Is King Mansa Musa buying too

Cash..  not possible

Cheque.. not possible

Bank Transfer... non Chinese Yuan account ?  Never seen one.  

the rest banned.  

FROM HUOBI  https://ltc.huobi.com/


    火币网支持以下现金充值方式
    火币点卡充值0手续费，7*24小时实时到账。
    银行汇款充值手续费：0
    处理时间：9:30--19:00


Offers 2 methods only...  non of which are possible to westerners.  

Now prove to me where on Huobi as a non Chinese citizen can I top up with any of the following Cash, check, alipay, qq coin, &c.

Then re-evaluate your statement, then appologise, then confess there is only one liar in this discussion and it's not me.    

436 on btce

I sent a link from Huobi

https://ltc.huobi.com/


    火币网支持以下现金充值方式
    火币点卡充值0手续费，7*24小时实时到账。
    银行汇款充值手续费：0
    处理时间：9:30--19:00


so once again tell me how I top up on Huobi with the methods you suggested?

Still waiting.....

Charts are not taken seriously without a train picture around here !  

It says under his avatar

Twitter - @alzu1977

What's confirmed ?  Please say it's $60 BTC

it's what we need.  The final Chinese nail,  let out the remaining steam, then some stagnation, followed by slow and hopefully steady growth.  

What software / exchange do you use to short?  can you do it on metatrader via btce?

Yep...    2k BTC on huobi dumped in 3 mins

anyone care to call the bottom?

this could be the biggest dump since December.

I pulled all my buy orders!  

the bottom, is a long way down imho.

anyone got a link to Australia banning BTC too?

well technically it is the government if the bank is nationalised!

this is just the aperitief

why is it all bulls are always in total denial in a sell off.  There are huge Bear flags forming, the lower trendline from March 4th indicates the price will go sub $380.  

I raise you a bear flag!

I did this one yesterday

just type bear flag into google

where do you think the bottom is ?

yep it's very cool,  it made me dump on site.  anyway $380 is the best the bulls can hope for imho

Not sure id want to pay $350..   I'll wait for a better offer

414 on BTC-e now


testing the previous bottom.

we won't know till the 15th I guess .

http://translate.google.com/translate?sl=zh-CN&tl=en&js=y&prev=_t&hl=en&ie=UTF-8&u=http%3A%2F%2Fwww.huobi.com%2Fnews%2Findex.php%3Fa%3Dshow_notice%26id%3D303&edit-text=&act=url


translated

Nova coin @ $3.75

novacoin was $5.5 in June , before any of the November pumps.  

is he going to stop all those margin calls himself ?

lol,

and how does the CEO stop this sell off?

Currency network will be suspended on fire ICBC card recharge service announcement

Time: 2014-04-10 12:33:08 Source: Fire coins Network
Dear fire coins network users:

Fire currency net latest information:
Today around 10:00 Zhongguancun Branch of ICBC received notification client manager, received notice of higher operational management department, fire behavior to stop working currency network to provide services to complete the sales currency net household fire ICBC account in April 18.

10:30 or so, fire a few coins network partner arrived at Zhongguancun Branch of ICBC, the branch manager of client face to face communication to understand the situation.
Follows:
1) ICBC superiors did receive a notice to stop the fire coins Network account Zhongguancun Branch of ICBC, the deadline is April 18;
2) notify the oral notification, Branch not received any written document;
3) asked what other acts did not send a notice replied that the policy may be interpreted in different banks is not the same, the sensitivity is not the same;
4) There is no leeway asked, replied that no, because it is superior notification, not consultation;
5) asked how to handle the user's subsequent capital management, replied that the funds can be transferred to other commercial banks, but ICBC is definitely not it.

Among them, also to ask the client manager for the Bitcoin policy views and other related things, but are the personal views do not represent the position of the bank is also little direct business relationship with the fire currency network, not the one described in this notice .

12:00, sent back to the company announcement. Prior to the announcement issued not earlier disclose that information to any user or organization, the majority of users supervision.

       Fire currency network will be next Monday (April 14th) officially stopped using ICBC Zhongguancun Branch account recharge and withdrawals (user ICBC account withdrawals are not affected, we will use other bank fund transfer to your ICBC account), so far Other banks temporarily affected, the latest news will be posted net currency of fire for the first time.

Fire coins Network Operations
2014/04/10

Don't forget the National Australian Bank will close all bitcoin related accounts in May.

the ICBC is the Industrial and Commercial Bank of China.  (state-owned ) in case anyone wondered.

Cool!

His name will be mud pretty soon though, because I can't see $375 holding.

I see a bear flag pretty clearly on huobi 15 min chart.   2290 in next 2-3 hours

either that or wait till  12 hours for China's new morning and.   differnt time scale... same result.

in 2014, all this bad new has battered BTC into a corner.  But I see the biggest risk not coming from banks and governments, but from other Crypto's.  Other coins will become more attractive to mine, because all that sha256 hash power fells kind of lame when ($9,999) 2TH state of the art asic only makes 0.16 BTC a day, it fells like your being short changed.

Peercoin for example's price is 4.5 times lower than peak prices, so when the uptrend starts agan in the future, it will be more profitable to buy and hold than BTC.  the PoW mining profitability is 88% of BTC now but that overtakes on uptrends, Peercoin also uses sha256 asics and does not suffer from a static coin cap and is in fact mineable without any hardware at all via PoS mining (just leave you wallet open & don't move coins).  PoS is environmentally more sound as well, as only the PoW miners use the asics.   meaning Peercoin investors gain (interest on their investment) as well as a higher percentage shift on an uptrend.  It's also less techy to PoS mine as you need no real experience.  Just open the wallet and wait for the interest to roll in.  

Although It will never take over from BTC anytime soon I see the gap narrowing in 2014.  I will be taking 35% peercoin 35% LTC 30% BTC..  if the ball starts rolling again later this year.    

This year will define crypto, i don't think it's certain in which way or that it will go the same way as previous years.  Peercoin is established and is more advanced than BTC in many ways.  keep your eye on it in 2014.

I gave you the bearish argument.  You put your head in the sand, fingers in your ears and preferred not to listen.  Yet most of my predictions are coming or have already come true.  I said the best the bulls can hope for is a double bottom.. (here we are)  Ive seen many rocket ships, and lovely train pictures,  yet, as I stated we will not break the December trend line and we will bounce off it (guess what happened).

This has happened, this is happening and I am sure my unfulfilled predictions will come true in the next few days.  I said we are going down further.  I am still confident of this and have provided TA for you to look at....  but still you put your head in the sand.  

The one thing you can't grasp is your own mind. Here is the truth you can't handle....   In a bear market it's best to listen to the advise of a bear.  In a very bearish market, then listen to a very bearish point of view.  

You however are incapable, as this contradicts what you ... Want... Hope and maybe need.  But thats you tough shit, not mine, so do yourself a favor and stop trying to blame bears and get a grip on reality.


Don't call me a troll when my predictions are infinitely more accurate than yours...  Take your blinkers off for a minute you may save yourself heartache.  

You warned them!   now they want a scape goat.  seems strange to shoot the messenger, but some people still don't get it.  They're simpletons that you shouldn't rise to.

Yet in the absence of positive fundamental factors, TA from the existing bad news is all we have to go on.   All my predictions are coming true or have already come true.  so lets be honest there is a good chance the other yet unfulfilled predictions will follow.

Bulls can listen, I know most of them won't.  

I have not held crypto overnight since the silk road crash (barring mined coins).   but I have made a lot in day trading.  I am almost 100% fiat overnight, every night.  
 
If we go up from here, we still won't break the December trend line.  It's almost impossible now without some amazing good news.

You are a fucking moron sir!  A vitriolic little spastic


Yep I brought LTC at $11.93 and sold at just over $12-$11.95 a few mins later as soon as I knew it was a trap.  





LTC/USD    sell    52.8846 LTC    11.95 USD    631.97097 USD    02.04.14 20:46
LTC/USD    sell    0.165927 LTC    11.95 USD    1.98282765 USD    02.04.14 20:46
LTC/USD    sell    0.510532 LTC    11.95 USD    6.1008574 USD    02.04.14 20:46
LTC/USD    sell    2.28355 LTC    11.95 USD    27.2884225 USD    02.04.14 20:46
LTC/USD    sell    1.52845 LTC    11.95 USD    18.2649775 USD    02.04.14 20:46
LTC/USD    sell    0.669433 LTC    11.95 USD    7.99972435 USD    02.04.14 20:46
LTC/USD    sell    5.02 LTC    11.95 USD    59.989 USD    02.04.14 20:46
LTC/USD    sell    4.87413 LTC    11.95 USD    58.2458535 USD    02.04.14 20:46
LTC/USD    sell    35.9533 LTC    11.95 USD    429.641935 USD    02.04.14 20:46
LTC/USD    sell    63.1292 LTC    11.95 USD    754.39394 USD    02.04.14 20:46
LTC/USD    sell    26.9975 LTC    11.95 USD    322.620125 USD    02.04.14 20:46
LTC/USD    sell    0.285654 LTC    11.95 USD    3.4135653 USD    02.04.14 20:46
LTC/USD    sell    1.26911 LTC    11.95 USD    15.1658645 USD    02.04.14 20:46
LTC/USD    sell    5.04018 LTC    11.95 USD    60.230151 USD    02.04.14 20:46
LTC/USD    sell    2.57937 LTC    11.95 USD    30.8234715 USD    02.04.14 20:46
LTC/USD    sell    2.07673 LTC    11.95 USD    24.8169235 USD    02.04.14 20:46
LTC/USD    sell    0.85335 LTC    11.95 USD    10.1975325 USD    02.04.14 20:46
LTC/USD    sell    0.100501 LTC    11.95 USD    1.20098695 USD    02.04.14 20:46
LTC/USD    sell    2 LTC    11.95 USD    23.9 USD    02.04.14 20:46
LTC/USD    sell    3 LTC    11.95 USD    35.85 USD    02.04.14 20:46
LTC/USD    sell    1.27845 LTC    11.95 USD    15.2774775 USD    02.04.14 20:46
LTC/USD    sell    10.0218 LTC    11.95 USD    119.76051 USD    02.04.14 20:46
LTC/USD    sell    103.93 LTC    11.95 USD    1241.9635 USD    02.04.14 20:46
LTC/USD    sell    5.02004 LTC    11.95 USD    59.989478 USD    02.04.14 20:46
LTC/USD    sell    0.1002 LTC    11.95 USD    1.19739 USD    02.04.14 20:46
LTC/USD    sell    0.322581 LTC    11.9505 USD    3.85500424 USD    02.04.14 20:46
LTC/USD    sell    1.0022 LTC    11.952 USD    11.9782944 USD    02.04.14 20:46
LTC/USD    sell    1.0022 LTC    11.952 USD    11.9782944 USD    02.04.14 20:46
LTC/USD    sell    0.2 LTC    11.9532 USD    2.39064 USD    02.04.14 20:46
LTC/USD    sell    0.2 LTC    11.9544 USD    2.39088 USD    02.04.14 20:46
LTC/USD    sell    0.1002 LTC    11.9556 USD    1.19795112 USD    02.04.14 20:46
LTC/USD    sell    0.2 LTC    11.958 USD    2.3916 USD    02.04.14 20:46
LTC/USD    sell    0.105 LTC    11.96 USD    1.2558 USD    02.04.14 20:46
LTC/USD    sell    0.2 LTC    11.965 USD    2.393 USD    02.04.14 20:46
LTC/USD    sell    2.0278 LTC    11.966 USD    24.2646548 USD    02.04.14 20:46
LTC/USD    sell    0.75 LTC    11.967 USD    8.97525 USD    02.04.14 20:46
LTC/USD    sell    10.3013 LTC    11.97 USD    123.306561 USD    02.04.14 20:46
LTC/USD    sell    1 LTC    11.97 USD    11.97 USD    02.04.14 20:46
LTC/USD    sell    10 LTC    11.97 USD    119.7 USD    02.04.14 20:46
LTC/USD    sell    0.2 LTC    11.9711 USD    2.39422 USD    02.04.14 20:46
LTC/USD    sell    0.2 LTC    11.9711 USD    2.39422 USD    02.04.14 20:46
LTC/USD    sell    0.2 LTC    11.9747 USD    2.39494 USD    02.04.14 20:46
LTC/USD    sell    0.1002 LTC    11.9756 USD    1.19995512 USD    02.04.14 20:46
LTC/USD    sell    0.25 LTC    11.9773 USD    2.994325 USD    02.04.14 20:46
LTC/USD    sell    147.231 LTC    11.979 USD    1763.680149 USD    02.04.14 20:46
LTC/USD    sell    0.1002 LTC    11.9806 USD    1.20045612 USD    02.04.14 20:46
LTC/USD    sell    0.1002 LTC    11.9806 USD    1.20045612 USD    02.04.14 20:46
LTC/USD    sell    20 LTC    11.982 USD    239.64 USD    02.04.14 20:46
LTC/USD    sell    5 LTC    11.989 USD    59.945 USD    02.04.14 20:46
LTC/USD    sell    0.1002 LTC    11.9955 USD    1.2019491 USD    02.04.14 20:46
LTC/USD    sell    15.3752 LTC    12 USD    184.5024 USD    02.04.14 20:46
LTC/USD    sell    2.29189 LTC    12 USD    27.50268 USD    02.04.14 20:46
LTC/USD    sell    501.262 LTC    12 USD    6015.144 USD    02.04.14 20:46
LTC/USD    sell    0.1002 LTC    12 USD    1.2024 USD    02.04.14 20:46
LTC/USD    sell    125.29 LTC    12 USD    1503.48 USD    02.04.14 20:46
LTC/USD    sell    3 LTC    12 USD    36 USD    02.04.14 20:46
LTC/USD    sell    290 LTC    12 USD    3480 USD    02.04.14 20:46
LTC/USD    sell    1 LTC    12.0001 USD    12.0001 USD    02.04.14 20:46
LTC/USD    sell    3 LTC    12.0001 USD    36.0003 USD    02.04.14 20:46
LTC/USD    sell    61.5 LTC    12.0001 USD    738.00615 USD    02.04.14 20:46
LTC/USD    sell    2 LTC    12.0089 USD    24.0178 USD    02.04.14 20:46
LTC/USD    sell    1.52264 LTC    12.009 USD    18.28538376 USD    02.04.14 20:46
LTC/USD    sell    38.2 LTC    12.01 USD    458.782 USD    02.04.14 20:46
LTC/USD    sell    20 LTC    12.01 USD    240.2 USD    02.04.14 20:46
LTC/USD    sell    20.5 LTC    12.01 USD    246.205 USD    02.04.14 20:46
LTC/USD    sell    1.24885 LTC    12.011 USD    14.99993735 USD    02.04.14 20:46
LTC/USD    buy    0.501 LTC    12.11 USD    6.06711 USD    02.04.14 20:16
LTC/USD    buy    0.499 LTC    12.1 USD    6.0379 USD    02.04.14 20:16
LTC/USD    buy    1 LTC    12.11 USD    12.11 USD    02.04.14 20:15
LTC/USD    buy    100 LTC    11.892 USD    1189.2 USD    02.04.14 20:03
LTC/USD    buy    10 LTC    11.892 USD    118.92 USD    02.04.14 20:03
LTC/USD    buy    10 LTC    11.87 USD    118.7 USD    02.04.14 20:03
LTC/USD    buy    170.703 LTC    11.93 USD    2036.48679 USD    02.04.14 19:58
LTC/USD    buy    6.68537 LTC    11.93 USD    79.7564641 USD    02.04.14 19:57
LTC/USD    buy    20.958 LTC    11.93 USD    250.02894 USD    02.04.14 19:57
LTC/USD    buy    1.48 LTC    11.93 USD    17.6564 USD    02.04.14 19:57
LTC/USD    buy    50 LTC    11.93 USD    596.5 USD    02.04.14 19:57
LTC/USD    buy    1204.16 LTC    11.93 USD    14365.6288 USD    02.04.14 19:57
LTC/USD    buy    46.0117 LTC    11.93 USD    548.919581 USD    02.04.14 19:57

he's sugesting I made a mistake buying at $11.93

I am pointing out, I did make a mistake but sold.  Facts are he's a moron and my predictions are coming true again

Keep Hodling

Huobi rarely dumps after 3:00am local.  Usually it's a slow rise while mainly bots trade.  

Im expecting $408 on btc-e

If Huobi breaks this line then a short mini rally could be expected imho.

Hu-Obi wan kenobi

Im all in at the moment.  grabbed a few BTC @ $393 on btce and some LTC @ $9.80  .  hodling nervously.  First dump if it goes south will probably be me.    More nervous about the LTC.


huobi 15 min MACD going green again soon so Im hoping it can make a small short term rally. 

That little bounce just gearing up now.  some small but steady green candles on huobi on the way.

EDIT: Maybe

btc-e death bot operating again

What he said

bot dumping on btce.  but it's just a bot ATM.

China / okcoin / huobi / has hardly moved.  this was that Bot on BTC-e that triggered this move.  

The bot is very effective by the look of it !

I think there  won't be any further movements until, 8-10am ish in China!  (5 or so hours)

There is quite often a small rally in huobi / China at this time.  On all weekdays.  I noticed this, as a bear it really pissed me off.  No matter the mood there always seems to be this small rally at this time.

The dumping is BTC-e at the moment.  some bear / whale dumping and this death bot that has been popping up for the last few weeks.


 

Huobi is still Ł10 higher than it was last week.

2410 on 3rd April
2440 now

BTCe
410 on 3rd April
375 now


at the moment it's difficult to see this as a China only thing.  

Short term recovery is on the cards!


Here is some Bull FUD i made up

http://ftuk.dollarpounds.com/www.ft.com/world/uk.html

BTC-e troll-box the most powerful financial tool known to man

Personally, For now yes.   I don't think it will go any lower in the next 3 hours.  

Not according to My TA.   I had the bottom at 333.  But,  Huobi not following BtCe   greed will take over soon enough.

rally to 395 

maybe

No point dumping now!

If you are worried, It has support at 320 330.  I doubt it will break this line.

Then a bounce at some point.

Bulls and Bears, Hodlers and Sodlers.  Good luck

The whole thing feels engineered. this dump and the way it happened I mean. 

Bulls look like they are taking back control.  

Deffo the bottom now...

btc-e ddosed

 

Or buy !

Candle lit dinner coming up




What colour candles you want?

Reverse dandruff charts popping up everywhere

if Huobi reaches 2330 we should get some breakout buys.  

Could this be the bottom ?

https://uk.lifestyle.yahoo.com/bum-wars--fitness-guru-jen-selter-takes-on-kim-kardashian-in-an-instagram-bottom-off-143315085.html

looking good for the bulls

Here is my updated TA

Maybe.  maybe not!  

I'm undecided, one thing I think will happen though.  is Huobi will test 2700 again.  If it goes down after that the fair enough.  But there is enough bull pressure to make it that far again.  

Are they coming back from the moon or just getting ready?

I agree there's a mission afoot, but it's maybe a test mission.  

The test mission to an altitude of say 2700.  If the shuttle doesn't crap out at 2700 then they will be on course for 3000.  

where are you placing your lines?  from the 3000 peak?

Looks like it's bang on the money.

Do you think we'll break the 2700 line?

If it makes it there I see a massive break out trade.

what do you think?

not sure myself.  someone posted a rumor that China are not in fact banning bitcoin.  I have no idea if true

If all the rumors are false then they should release a factual statement.  But writing bitcoin to the moon, is just as bad as the bear fud.

I'm turning bearish again.  the huobi rally, although does seem to have broken or remains just on the trend line seems to be going nowhere.  In a situation like last week,  still not enough confidence to really push higher.

So i'm out.  will buy back on the next dump.

There just doesn't seem to bitcoin hungry people out there at the moment.    

maybe I'll be proven wrong.

EDIT:   famous last words

broke out of the top but ran out of ammo.  anyway,  im waiting. 

I though LTC would go through the roof but it hardly moved.

I don't think it will be too long until 300 is being tested .  

Head and shoulders on all 3 exchanges is almost complete.

Huobi no longer the catalyst causing the dumps.  The last dump was started on btc-e.   only the recovery was initiated on huobi.  

no volume no interest.  I think any pump will just be met by a whale dump.

By next weekend things will be clearer.  

+1,  I can't see us getting to $500 anytime soon.  

EDIT:   can't see us hitting $450 anytime soon.

Thanks for the reply

"Wednesday"  on it's own doesn't really help me see your opinion.

Maybe relax a little, and don't call people with a different opinion to yourself a troll all the time.  It makes you look vitriolic and bitter.

Where did he indicate the week "ahead"?

As he's a bull, there is a good chance you're right and he meant by next Wednesday the price will be $450.  But it's not possible, to be clear that's what he really meant.

We will all know if he's right on Tuesday..  until then no one's guess is better than anyone else's guess.

Clearly you need teaching on this.  I'll give it a shot...   it goes something like this.  Every 7 days we are blessed with a brand new Wednesday.  This formula also works if you minus 7 days.

Looking at it now.  it's shrunk to 200 and a 100 opposing wall.

The bulls seem more washed out to me, I don't see many people buying at the moment.

some people are worried of being a 450 bag holder.  

And there are plenty of people like you that feel the same.  

I think when we finally hit the bottom we will level out for a while.  I don't see a big bounce, followed by choo choo.  So for me at least there is a lot less risk in dollars or yuan.

All the gox, China, Australia news, does not go away overnight, and it's new investors that are needed. More bad news could be just around the corner.  Many personal investors with serious cash are older, and don't understand bitcoin, and are naturally more conservative.  Corporations, wouldn't touch bitcoin with a shitty stick right now, as it looks risky on price and it looks even riskier on regulation.  Lets face it, there is no good news for new investment.

But be honest,  you have so many coins i'm guessing you could probably crash the market if you wanted.  You have a vested interest in not doing this, but you must be very concerned. 

Bitcoin is great invention, it has great support but it's no where near main stream yet.  I have been a miner since Nov 2011, and I work in a very geek orientated environment, there are over 100 working in my team.  They are all tech geeks and out of these people only maybe 3 or 4 have mined bitcoin.  It's very very niche outside of our little world. 

I  have made some money from BTC but I could never recommend it to a friend or relative, because I couldn't live with myself if they lost a lot of cash as a result of my advice.

Also in the April 2014 crash bitcoin lost 75% without any fundamental reason for the crash. We're not at 75% yet and we have been plastered with negative reports on mainstream media.  The only bitcoin stories I have seen recently on mainstream TV in the UK have been about gox and the crash.  That sticks in peoples minds.

450 remains in my mind to high imho.

I will be buying again too, just not at 420.   (unless something changes)