This. The big walls are time and time again just illusions. We approach them and they disappear. How often do they actually get eaten through? I don't have faith right now that the support moving up is real support. Price crashes 81% in less than a week and we are stabilized / on an uptrend like a day later?   

How would we know? 

Yeah that 120 wall is looking good. I just bought more at 117 (BTC-E). Hopefully we don't see double digits shortly. 

Hourly shows 5 tests of 125 and 5 fails over 13 hours. I can't see a breakout any direction but down here.

.1 USD is really insignificant here. This isn't some sort of predictive science.

We crossed 124.75 13 hours ago. We have fluctuated between 124.65 and 124.9 over four separate hours since then before falling back to 120/under. Yes, we couldn't even break 125. This repeated stagnation at the resistance from 120-125 = downward break, IMO.

I was told of breakout. Where is volume.

 

Looking at the past week, not April.

I agree. That was my original (unquoted here) point.




We'll see, but could easily be a false breakout.

No volume to confirm, could be a false break. But maybe cheap coins in near future.

120-125 is looking steep.

I don't think we are stable. If we are in this trading range in a month, maybe we are stable. I don't sense confidence in these mini rallies. I'm actually holding mostly BTC at the moment, but my finger is on the trigger and I am not confident we break 120-125 resistance.

so fast...... glad I went with my gut this morning.....

I see 1m20s

Any accounts that wire money to Americans are at risk. Generally, it goes offshore bank --> intermediary (US) bank --> customer bank. That's why we get MT Gox wires from Chase NY, etc. Lots of online gambling money gets nabbed by the feds this way. In reality, they can seize offshore accounts where they have existing bank treaties, when there is "cause".

IMO, don't assume this is the end of this. Some thoughts on the subject: https://bitcointalk.org/index.php?topic=200228.msg2114965#msg2114965

Trying to remain positive here, though.

Dunno, we'll see.



Wouldn't be buying back at a loss, though.

Of course! Just as I thought this wedge was going to break down....



..... now it's probably going to break upwards! Good old gox lag.

Don't be so quick to write this off..... this was likely just the simplest possible way to go after Gox. It doesn't follow at all that the feds don't have their sights on bitcoin generally, nor that we have seen the end of this in re to Gox, other exchanges or other operators like Bitpay for instance. Don't get all irrationally exuberant up in here! Wait and see, IMO.

They can't predict the future. VCs have dropped virtually nil into bitcoin. Complete drop-in-the-bucket, easy exit shit. I don't understand why people think "all this money" is being invested. It isn't. Investing 6 figures, or a few million, is a cheap price to pay if the future turns sour.

Not sure about that. https://bitcointalk.org/index.php?topic=205744.msg2182419#msg2182419

The 10k bidwall turned into 3k and we had like a 7k buy. It was instantaneous, so...

If 125 falls and we keep on this volume.... me turn bull

Can you bring this sort of crap over to the bitcoin discussion forum or alternative crypto...or something? If you're going to get on a soapbox here, make it about why your speculative analysis is right... not why we should "believe in bitcoin."

wat 

:facepalm:

Nice one....

Yeah, and perhaps onecoin truly is the most expensive coin ever.  

Scarcity principle doesn't apply without the proper demand.

See, this what you continue to repeat (and imply), but you have not proven it at all.

"Growth potential" as you called it ≠ the guarantee of massive demand in the future.

And the "hard math" based on difficulty -- no possibility that bitcoin simply becomes unprofitable to mine?

Most of us here, I think, are bullish in the long term. But... the bubble is over? I don't know about that. Long term charts are scary as hell looking for someone holding 100% BTC. There is plenty of room to fall and nowhere near the hype that took us to 266. Until we are comfortably in 170+ territory, I am not confident that this is over.

Perhaps it's not the beginning of a breakout.....

Big "if", considering we didn't near touching 124, and yes, because that is the resistance of the current wedge. There was never the buy volume to break up to begin with.

Wedge is indeed nearing breaking point, but I think we break out downward if it breaks.

~ Something like:

I can do this with a slew of scammy altcoins. "Onecoin" is a much more scarce crypto-currency than bitcoin. So much for intrinsic value.

The scarcity point is completely irrelevant right now -- the only way to know that future demand will be sufficient is to crystal ball that shit.

This is indeed "essentially faith". But, I think, that is the way of most burgeoning ideas -- early adopters need to have faith. Rome doesn't get built in a day.

Could you give some examples?

I disagree!

This applies to a lot of people, IMO, including me. There is absolutely zilch that I would use bitcoins for, since it is far more convenient (and safe, considering the short time bitcoin vendors have existed) to use fiat, with the exception of Silk Road. Re Silk Road, however, I can find better drugs for much cheaper, and fuck drugs in mail, so that's no go either. So I am here strictly for speculation. So I wonder..... what do we see among the speculator population if we see months of sideways trading, or a long slow downslide?

3 lower highs, 3 lower lows. So the wedge did break downward. How far will we go?!  

I often wonder about this. People always mention the phenomenon of new vendors accepting Bitcoin -- through Bitpay, of course   -- as a bullish indicator, but we never know what kind of volume this really amounts to. It's one of those things I've never been able to wrap my head around... because many new vendors accepting bitcoin could, in theory, amount to absolutely nothing.

What is a "bullish" triangle? Triangles do not have bullish/bearish bias, IMO. I also see a bearish wedge that is itching to break downwards, not a triangle.

Most recent move = bearish wedge. (before continuation of downtrend) 

166 was the high after 266. Also roughly matches the 0.618 Fibonacci ratio. So it is an important support/resistance point.

I don't foresee a situation where I'll be panic buying anytime soon.

So much ideology ITT, so little talk of price movement. Oh I guess there is no price movement. Until this wedge breaks and we see some more big dumps. 

~ 2k coins dumped in last 20 min. Waiting for more volume!

I see this line of thinking a lot and frankly, it would only apply if I had significantly more capital to invest. I would be very unhappy to be holding the same number of coins that I have now in a year or two... when I could be holding significantly more. Why would I be happy with 10 coins if I can have 15 or 20?

Then your opinion re "cheap coins" is based on your own assumption that the bubble is over, and that a bull market is indicated. That, I disagree with very much.

The economy? It barely exists. I for sure won't love to see bitcoin continue to trade as significantly overvalued based almost purely on speculation hype. And how do you expect self-interested parties to work within markets? I don't cater to absurd pie-in-the-sky notions of bitcoin becoming the world reserve currency and saving the world from itself... so yeah, I want the market to act in the interest of my holdings. That's completely reasonable.

If/when this wedge breaks, I think we see continuation. The rise from 88 on this volume does not give me hope for a bull market.

How big is BusinessInsider? IIRC, they are pretty damn fringe. I remember reading a lot of them back when I was an agorist a few years ago. The same people who I'd see posting BI articles were posting shit from Alex Jones, etc..... not really the finance crowd. More so the fringe anti-government crowd (more or less the niche that bitcoin already occupies). Obviously this is just anecdotal, though.


Can you elaborate as to how this would negate the effects of TA? Being a relatively new market does not mean that price movement cannot be analyzed. On the contrary, we are constantly seeing familiar retracements in the BTC market.

Apparently! 

OH HAI 103

Are you serious when you say this? I've seen others say similar things, that "there are no more panic sellers." People aren't going to stop panic selling in any speculative market. No panic = calm before storm. Just wait until we really start moving!  

2k wall at 104 moved to 102 

Most likely situation, if this were to happen: DOJ swoops in, seizes/restrains bank accounts, presses civil case to recover assets... then after several years, account holders get paid pennies on the dollar out of a remission fund. If you feel safe with fiat on the exchanges, don't. (Same goes for BTC, obviously)

Yeah when did those 5k coins show up?!

Point is that your BTC on exchanges are not real BTC. You cannot withdraw them unless they send them to you. If we're talking about an exchange "going rogue", they aren't going to fulfill withdrawal requests.

In fact, at least with fiat, you have a shot at getting something back via three-letter agencies. BTC, not so much.

Yes, but bids in that range obviously aren't real support. They will never get filled, so this must be taken into account when looking at total bid sum.

Not really. Money is held by ripple gateways in the same way that money is held by bitcoin exchanges. So when you send Bitstamp $1000 and move it to your Ripple wallet, they "owe" you $1000 the same way they'd owe you if you kept in on Bitstamp.

Ripple is great, IMO. It has incredible potential as a payment system and is far more versatile than bitcoin in that regard. In that way, since you can move in and out of so many currencies and IOU issuers, Ripple could be very useful for arbitraging. Too early at this point, though.

Bad idea, why? Do tell. If, like most detractors, you base this on the debt/trust system's potential for collapse, you should probably stay away from bitcoin exchanges as well.

No. But only foolish people who care so little about money not to do a basic level of research will fall into this. If someone is careless enough to simply assume that extending trust is meaningless, without doing a modicum of research, he shouldn't be using Ripple. My advice to newbies: if you aren't willing to learn about Ripple, don't use it. Same goes for bitcoin -- lots of lost coins out there due to very careless people.

You should only trust an established business. If you want to trust your friend, just like IRL, he may never pay you back. I don't understand this idea that people need to trust everyone they know. That's just part of a marketing scheme to make Ripple more relevant to the average user. If my friends or family needed money, we'd figure out a way to get it to them. I don't need to extend trust to every single person (so that I never know whether or not my funds are liquid). If someone needs BTC, I can get them where they need to go easily and without any risk via Ripple.

I would agree insofar that people will make mistakes and get burned. Just like with everything else.

Totally. I don't advocate for how it is being marketed. I don't like OpenCoin and I think the way Ripple was rolled out was pretty scummy.

Still, I see great potential.
Well aware of ripplescam.org and tradefortress. Nothing new there. With the former, again, I disagree with many aspects of Ripple's launch, but I don't see the issues outlined as exhibiting inherent flaws in the protocol -- not at all. And what about tradefortress? If users would take a few minutes to learn the basics of Ripple, they won't be scammed like morons.

And I am quite sure that you couldn't steal "over 100 btc today" through a trust scam. Make me a wager! You couldn't get anywhere close.

The only reason more than a negligible amount of BTC were stolen in the tradefortress fiasco was because a user offered up over 9 BTC, announced it on the forum, and told tradefortress to make his point. Hence, the IOUs were stolen.

Sure. Which is why this has nothing to do with Ripple.

Hello, 94!

LOL...
Cheap coins? We've got a long way down until coins are cheap.
Yeah, waiting for them to get a lot cheaper. Which is the thing to do when they are quite overvalued.

I have bids starting in the 77-80 range to catch the next bull trap, but most coins will be bought far lower.

So much butthurt around here! 

Hi, 80s! We missed you (on Gox)!  

Less than 4k coins to break 88.

2900 coins to break 88!

This. 
Stop being such a crybaby. He has actually backed up his positions quite well. In fact, Blitz's analysis was part of the reason I became such a bear ~2 months ago.
This. I actually think the perma-bulls constantly spreading irrational exuberance are much more damaging than the bears. They convince newbs to squander their investment capital and lock themselves into holding the bag during a downtrend.
This. The people that get butthurt are the ones that think it's just black and white -- i.e. if you are not a bull, you "want bitcoin to fail", etc. I'm certainly not here so we can all talk about how we are all long term bullish. Who the fuck cares about that? If you want to get religious, there are other forums for that.
I'd prefer it if people here, especially those looked to as having some sense of seniority, didn't play the role of missionary. I'm here to speculate and wrap my head around others' speculation, not coddle newbs into a false sense of positivity. For the same reason that I would never encourage my friends and family to invest in bitcoin right now, I am not going to advocate for this sort of bullshit.



1800 more coins and 88 falls. Good times. 

I think this bounce up was expected, but I don't think it will pass the 94-95 area. Then back down we go.... we'll see if 78-80 support holds.

Looks like I missed an eventful night. Glad I wasn't holding any coins!

Bid side on Bitstamp is actually still looking pretty strong. 5100 coins to 75, 2600 coins to 90. Waiting for a nice 1k sell to prime us for the 70s.

Are people serious when they say this sort of stuff?

This is just another rationalization. Helps that cognitive dissonance in a falling market. When bulls start threads about bitcoin reaching $10k in the middle of a downtrend, I don't worry about it too much either.

I suppose maybe everyone here is trying to hose the noobs. Then again, I can't imagine the speculation forum has any effect on the market. I mean, are you some kind of whale? Who do you think you are, Jaroslaw?   I would hope market makers in a market that is easily manipulated have better things to do than lurk on forums.

All the people that have been talking bear market since April/May -- and were correct -- they could have saved you a lot of money. The "you're trying to buy cheap coins!" argument only works if we're at the bottom. As the down channel continues, now into months and not weeks, it gets harder and harder to make. If I've had any motive other than boredom, it has only been to offset the perma-bulls. I have no coins to sell, and as soon as my bids fill, I am looking to exit.....

No dogma; I'm a bear until I'm not anymore. It may be awhile, though -- could take many months, potentially, to bottom out -- so I'm sorry you're bored. Bull/bear markets can be quite protracted. Have some fun and ride some sucker rallies!  

Had a couple bids fill on Bitstamp. Where is the bounce?! I don't like holding BTC these days. 

LOL, what happened? I got disconnected from clarkmoody and all of sudden we are at 79!  

This bounce from 76 is so weak, come on bulls, rally it up so I can sell my coins.

I had bids fill from 76-79, pulled my orders between 71-76. The silence on buy side is deafening. Hoping that wall at 75 pushes us up a bit so I can get rid of these...

         

Oh, you!

I had a few bids fill when we dropped under 80, was hoping for more of a bounce. Lets go, bulls, sucker rally time!

I may stop trying to ride these bull traps. The bounces seem to be getting smaller, almost non-existent... sell pressure is relentless. When I sell the coins bought at 76-79, I'm waiting this out a bit I think.

Come on, though, one push to 85! 

I dumped 10% back into BTC in high 60s. Don't let me down, lucif! 

Almost 20k to break 70 now.

Edit: And it's gone LOL, 8500 to break 70. 

Maybe wallzilla will market buy. 

Stop playing with my emotions!

What's a bubble deflating without some bounce here and there? I'm still waiting for my sub-$50 coins. 

BOOM, 6k buy, hi 80!

Why not? Pretty nice sucker rally from 60s. Extracting myself some nice dollars.  

Yeah, but the bounce from 65 to 78 was more organic.

I don't see how we drop from 115 to 65 without bouncing. Who said anything about permanent? Even the bears don't think bitcoin is "dying." But I'll say -- I'm certainly not at the point where I'm thinking the downtrend might be over. My medium term outlook will change if we break 115 on volume, but I'm pretty skeptical of triple digits here. Still hoping for a retrace to 96 territory, though.

Looks like a flag forming. Don't know which way it will break.... originally thought up to 96 after another oscillation down, but this rally has me nervous. Didn't reach my target but happy to take profits at 89.

All out, now dump please. 

LOL damn whales

Hehe.

It was a lot of fun riding this bull trap. It's gonna be a blood bath out there.

Meh, set your targets and sell. > 13% is nice. No need to be greedy. I knew we might break 100 (and felt we'd fall right back down), but felt pretty shaky at 90, so I unloaded everything at 89. Can't play 'em all perfect. But I feel good about 22%. 

That sounds extremely stressful. No thanks. I'll buy and hold when we start running up a new bubble.

Yeah, once my targets start being met. You talk as if I think the current bubble has deflated. I don't.

I mean to say I don't intend to hold BTC for more than a few hours/days until until I'm confident that we've bottomed and the bull is on the horizon.

People often say this. How so?

Yep, if this triple top forms, it will be pretty obvious indeed!  

Those were the first two tops. Third top coming? 

Do tell.

Indeed. I'm not worried about Gox going belly up. But I am concerned about the perception of prospective depositors. Coming from the online poker realm... the market nosedived when ewallets were cut out, wires became almost non-existent, WU/MG unavailable or with high fees and very low transfer allowances, and companies started taking 8+ weeks to send checks that would bounce on you. Sites couldn't pay out in reasonable time frames with reasonable fees, and new blood became no more. Nothing ever recovers; the US market just perpetually shrinks and the larger networks more exposed to payment processing problems continually lose market share. My experience is that depositors want to go where liquidity is, and are inherently distrustful of companies with small market share. Often the big sites are viewed as the only options.

The other thing that I learned from that experience, and from the last time this happened -- if Gox can't pay out its customers due to payment processing issues, $1 Gox < $1... propping up BTC.

Stop being so butthurt. It doesn't suit you.  

Anyway, they've both been pretty solid the past couple months and I take their analyses into consideration. You, on the other hand....  

I don't think everyone is expecting a drop.
Shitloads of people. Why not? You can only call capitulation in hindsight; I am quite unconvinced that anyone with the propensity to exit permanently has done so.

We're nowhere near capitulation, certainly not when 3 weeks ago we were at 65. Lots of fence sitters. If/when there is blood and people see the value of their holdings chopped in half from here, then we'll see some volume. I think we'll bounce around a bit before we see that, though.

No, there is no liquidity besides Bitstamp, basically. No vendors accept XRP for payment. It's basically speculation for XRP only, and it's highly illiquid. XRP is highly prone to manipulation, much more so than BTC. A single entity can easily dump the value of XRP to oblivion. Indeed, a single entity dropped something like 6 million XRP onto the book (selling them 9-10 XRP below spot, mind you), and that alone has caused the value to plummet from mid-70s, now to the 180s.

It's too bad Ripple is tied to Open Coin. As a payment system, it's pretty brilliant and has a lot of potential to be extremely versatile for payments/micropayments. But the supply of XRP is completely fucked, fuck holding it. At the same time, since Ripple has virtually no liquidity, there is really nothing to be done but trade in and out of XRP.

Ripple is great. XRP is scum. Open Coin is scum. I'd love to invest in Ripple because it has great potential; it's the most versatile payment system I have every come across. Unfortunately, I can't touch XRP -- there is an endless supply of it in very few hands that can and will dump your investment to nothing. I made a few coins off of trading XRP in May/June, but once I saw how quickly a very small fraction of the XRP held by Open Coin insiders nosedives the market simply by being shown on the order book, I got out for good. Open Coin recently made a payment of 200 million XRP to an unknown entity, and, big surprise, most of it has been sold over a few weeks. July has been a bloodbath, and looking at the ripple forums, holders still don't seem to understand why they are getting fucked so badly.

The thing is, discussing Ripple outside of the context of XRP is not very useful, as Ripple is completely useless at current adoption/liquidity levels. There is nothing you can do except speculate on XRP -- which is why it was marketed so heavily to bitcoiners. I don't even understand why they released the client so early; it's so buggy and unstable that it appears to be more of an alpha than beta. I don't know on what kind of time frame we should expect Open Coin to have the protocol fully implemented, but I simply don't trust them. Why would I?

If and until there is a far more robust system of reliable and trustworthy gateways, I would be very wary of holding value in any currency on Ripple. And even then, I'd be wary, considering I can only either hold debt from gateways, or a currency that by definition is under constant threat of manipulation.

I'm sure some see the strong resistance at 100-105, which has been unbreakable, to be a good reason.

Yes, I have made this point before. I don't disagree at all. My point is the opposite -- that bitcoin exchanges are unsafe. I think people should be very aware of the risks of keeping significant value on these exchanges, as well as the risk of holding IOUs from ripple gateways.

I make this point in comparison to holding bitcoins in a wallet, or fiat cash in hand. The only way to mitigate this risk within Ripple is to hold XRP, which is plagued with problems as stated above.

I don't think it has anything to do with the bank's reserve policies.

What is clear from the regulatory atmosphere is that traditional banks are not open to bitcoin. Would you keep all your money with banks that won't process your payments? The problem for Gox is, obviously, that no banks want to touch them, and for good reason. That doesn't mean Gox can't pay you; like other grey/black markets (e.g. online poker for US), it just may take 3, or 6, or 8 months.

Regardless, I trust Gox's bank 100x more than I trust Gox. In my mind, if the risk is liquidity, it's much more likely that Gox will leave us holding the bag, not its bank. (I think this is extremely unlikely anyway)

No different than dollars, Gox only needs to keep as much BTC on hand as is required for payouts. Same as USD. They can do whatever they want; it's not as if they keep an open ledger than can be independently audited. It's all unsafe, regardless of banks. This is a highly unregulated market -- your BTC is not safe, your USD is not safe. If it comes to it, you'll be lucky to get pennies on the dollar for your USD balance years later, zilch for your BTC balance, if Gox goes down. At least banks have legally required reserve ratios. What is the legally required reserve ratio for BTC? 

Bold predictions. See you on the order book. 

Could be a triple top, 100-104.... which wouldn't help the bull case.  

If the price can't stay above 100 for a day even (which it hasn't), let alone two days closed, how much does that mean, really? (not to touch on whether 100 means anything)

I think we could see 120s - 130s. IMO that could be the top for a while. We'll see how this goes -- have not yet confirmed that this is not a triple top (in which case, resumption of downtrend could continue).

If there is one thing this forum has taught me, it's that for many, bitcoin is religion.

Someone wants 104 to break. 

Far from? So who are all these big name merchants that we're talking about? Are okcupid and wordpress bloating the chain now?

It'll be a while before SR isn't the defining characteristic of the bitcoin "economy".

what does that even mean

Asics aside...
Bitpay is not a merchant. They process payments on behalf of merchants (dumping bitcoins on the market so merchants don't have to touch them). This is why Silk Road eclipses all "bitcoin merchants" who are just accepting USD through Bitpay. Regardless, again, what merchant or marketplace is in the same universe?

SR is really the primary organic source of consumers. For the same reason that no merchants want to touch bitcoins (volatility / exchange risk), holders are generally speculators. Who -- except those who are invested -- is going to jump through hoops to buy bitcoins for the sake of buying a gift card or a dating site subscription? Aside from SR, the entire "economy" is based on fiat currency -- hence the quotes. The article you posted actually proves the point -- everything is priced in dollars, as it should be -- that's all anyone cares about. Just the way "bitcoin merchants" want it. Bitpay simply maintains a flow of speculators taking profits via merchants who denominate their merchandise in USD.

Considerable, no. And momentum is reversing.

125 is the top.  

IMO:

Mmmmm, I can taste that downward momentum.

I still think 125 is the top here, mid-term. I can see a small bounce at 100-105 support before staying sub-100 (Gox) for a while. I think 88-89, maybe 78-80 will be where I try to catch a bounce, but it's too early to tell. (I also think that there is a good chance we'll revisit sub-65 levels eventually.)

 

Not gonna happen. 

This.....geez.

I'm not convinced that bubble money isn't just being redistributed right now. How much fresh money do we think is flowing into the exchanges?

I'd be curious to see an update from that guy who was charting forum activity over time.

I don't use Gox -- can you do currency exchange like BTC-E? Trade USD for JPY? Don't think so. So withdrawing JPY does no good when you are exchanging from USD -- same delays.

Maybe I'm missing something. People have mentioned showing up in person as well (...or "sending someone"?  )-- any trip reports? That doesn't sound too promising if your balance is in USD.

This is more or less correct. Volume in April at this price level blows current volume out of the water. Not much panic buying to be seen.

I get it. It's just that you only showed Bitstamp...... which really doesn't say much about volume in April.

In the US it is called foreign currency gains and is taxable (alternatively, barter gains). If bitcoin is seen as a functional currency, I read it as giving us a personal use exemption on gains less than $200 -- any transaction with gains higher than that is supposed to be reported. If bitcoin isn't seen as a currency, no exemption. Too lazy to look up and cite but pretty sure this is the case.

(raises hand)

People get pretty animated re "economic collapse!" on these forums. I guess I was the same way when I got into right-libertarian theory years ago. I now know not to underestimate this system's capability for sustaining the unsustainable. We're always on the brink around here, though! 

That's all well and good. If you keep singing that song a few more years, you might find that you'll lose steam. I have.

Of course there will be massive economic collapse... at some point. People who perpetually think we are on the brink -- sure, they'll be right, eventually. (shrug)

My position is plan accordingly, but don't plan on it happening anytime soon.

But usury is not a problem; it's the goal. The question is whether the powers that be can maintain the system. The answer is: they can. 

And 125 is broken....

Funny how little anything has changed since then, isn't it?

As I said a few posts earlier, economic collapse will happen. This discussion was in the context of perpetual assertions that we are on the brink of collapse. Ten years from now, or within our lifetime -- those periods are irrelevant to that discussion -- though I think it's unlikely we see anything of this magnitude over those periods, either.

Really, I am coming from a psychological standpoint. As stated earlier, I am well aware that massive economic collapse will occur. But to continue to believe that this was impending, for a period of years, in the face of continued normalcy -- that took a toll on me. Plan your shit (I have), but to believe the doomsday shit that gets spewed around here... fuck all that nonsense. So many armchair economists that are so ill-equipped to analyze the world economic system...

This is my thinking, too.

This.

Poor Gox. 

My money is on the latter. 

I don't really see that.

And spread of market share among exchanges aside, what about the actual volume of BTC being traded?

Indeed. I figured SR would inevitably come down like this... 

BTC-E is at 102 and no support on the books to be seen....

Edit: 2 minutes later, BTC-E = 95..... 

BTC-E is about to break 80 to the downside..... geez, this is quick.

No sub-50 this time? Awww. 

I've been holding all fiat for weeks, luckily. (trading funds anyway, cold wallets aren't touched in this event.)  tweaking them bids.  

Interesting... would love to see what a 40k coin sell does to the market today. 

Is that the consensus? Because that's what I've been thinking this whole time -- I was wondering where these numbers were coming from. How would anyone know?

Hmmm, BTC-E has been down for at least 1.5 hours here -- since I got home, anyway. Makes me nervous. Thankfully it's been a boring few hours, from the looks of it.

My problem is that I can't read it, and the google translate version of the page is simply atrocious. But is it confirmed -- "China Banking Regulatory Commission: "no plans to introduce regulatory policies for #bitcoin."

I'd like to think so, as I am holding quite a bit of coin (for my standards), but I'm not so sure. The charts sure do look bullish, though.

That's not what I've been seeing -- not yet, but maybe I am reading selectively. I remember in April getting super annoyed at the bull circle jerk that was this forum... not as much now. I think we might have some inflating to do.  

Wasn't there a wall at 170? I could have sworn..... did it get eaten? Or pulled? Maybe I am just trippin... Just hit 171, let's keep this going!  

It's funny seeing a lot of the uber bulls who more or less disappeared after the April crash coming back talking about 5-10x growth by next [day, week, etc]. I'm getting nervous reading this crap.

You're asking rpietila? You know he's gonna say like $10 billion per coin, right? Or perhaps just $300 per mBTC... 

That seems pretty crazy and unlikely to me, considering BTC's volatility and specifically, the bubble and subsequent pop 6 months ago. I also don't think the average person views their fiat as "soon to be worthless". That's a bit extreme.

It's pretty easy to fake volume when there are no financial constraints to doing so. Don't you think? A single whale can repeatedly buy and sell his own coins. (That's not to say the market won't roll over him or that this is what is happening)

You don't think manipulating volume can affect price action? Re price manipulation, that would depend on how much of the coins/fiat on the exchange is controlled by the whale. Is it impossible that one could drive up the inter-exchange rate this way? Or would he just be run over by arbitrage? I don't really know, I'm just brainstorming...

I figured that large manipulation of volume could skew indicators-- possibly could indicate a lot of buying pressure that is not real. Which in turn, could affect price action. Sort of talking out of my ass here, though.

Wow.... Gox high 222.00.... Bitstamp back over 201. This rally is relentless! 

I imagine on exchanges where people are actually interested in obtaining USD. Let price rise enough, those asks will pour in. But who wants Gox bucks?

I imagine there is plenty of BTC off the books right now. Wait for it. 

BTCChina is up 5.5% on the day. Almost 2.5% in the last 2.5 hours.

Gotta say, Bitstamp's bid side looks pretty worrisome. Is it gonna fill in? Or do we go to 180s on the first dump there? 

Could have played this correction better. I got lucky that I happened to take profits ~ $195-200 (BTC-E) before the dumping began.... managed to come out slightly ahead in coins at the end.... pretty marginal, though. Oh, well.

Ditto, what's going on? I don't have anything on there so I'm not trading, but I've been watching the ticker move for the last 20 minutes. Didn't seem like anything was amiss.

Not proper timescales to take much from, but still, kind of hoped for a breakout here:




China, 1000 CNY must hold! 

Still kind of confused as to what this means for the market exactly.

You bearish? Somebody give me some bearish analysis. I want to be a bear so bad... I want to see prices in the $130s...  Seriously.

No hate here, but I'm on the fence about that. I have no idea what the market will look like when we see a reversal.

Yes, I've been watching this bearish wedge continue to rise following the correction, and wonder if it will indeed break downwards. Is this the one you mean, or are we on different time frames?



No volume here.

Exactly -- I assume big holders will market sell when they feel momentum shifting towards reversal. At that point, it doesn't matter if placing a sell wall is more profitable... right? It's not a question of "if" this will happen, but "when".

I'm starting to feel this way. Any Eliot Wave folks around here? I remember notme posting that the $233 peak was the start of an ABC corrective wave downward -- would love to see some pictures. 

Ah, bitcoincharts has been down. Anywhere else I can view technical indicators?

Indeed, some investors are investing long term based on potential. But many are trading based on short to mid term profits -- they aren't the crowd going on about 7-figure $ value BTC.

How will you feel if the bearish wedge we are seeing now breaks downwards? 

Somebody hit me with some bear, please! Not enough bears around here -- this makes me worry. 

That's not what he's saying --  nothing to do with market saturation. The market, by definition, has already been pricing in the news. Speculators aren't going to wait until the whole world knows about bitcoin to buy some.

You're speaking as if "new blood" exists in a vacuum outside of the rest of the market, as if traders haven't been speculating on this news at all. That's ridiculous. Sure, new blood is entering the market. Much of it won't have gotten money to the exchanges, either, by the time we see a reversal. But, according to your theory, because of news they read last week or last month, they'll keep buying. Right?

Re #1, again, you're talking about something completely different. Sure, traders are usually wrong. But they have certainly been trading on recent news. So yes, by definition, the news has been priced in. You and I have no idea how much new money is/will be coming in, so you telling me that "old news will be priced in at X time" is ridiculous, on its face.

When speculators expect a rise in exposure/adoption/new blood, they buy. That's exactly what "pricing in the news" is. That doesn't mean that new investors won't enter, and it doesn't mean that the trend won't reverse.

Re #2, yeah, who knows what will happen tomorrow? Maybe following a momentum shift, there will be a slew of bad news that will propel the market downwards in tune with momentum. What does that have to do with anything? Are you telling me that in that case, we will have to wait weeks or months for the market to price in the news? Markets are dynamic -- they don't sit around waiting for people to twiddle their thumbs.

You're talking about this as if this is just a linear process: people read news, they learn about bitcoin, then they buy some. You take into account absolutely no market activity outside of that.

You're basically saying that news is never priced in. Where does that get us? I'm saying that the market -- quite obviously -- reacts to news. The fact that markets are dynamic and news ubiquitously available (i.e. traders don't live under a rock) suggests that it is constantly being priced in. This is by definition. What I'm saying is that recent news suggests increased exposure and thus increased future demand -- speculators are accounting for that.

You're saying that good news drives demand, and that we haven't seen that reflected in the market. That's fine. But speculators pricing in news ≠ demand.


What determines price if not those who trade? The "price" you seem to allude to is not the "price" reflected on the market (by exchanges). Hence, our conversation.


This is the disconnect. The very meaning of the words "priced in" indicates "at the present time". If something "will be priced in in the future" then it is, obviously, not priced in currently. I think there is a clear difference between news -- upon which speculators react dynamically -- and future demand spurned by that news over time.

No, that's not it. When you ask if something is priced in, you're asking if speculators have acted on it to the extent that they will. If news came out today that Amazon will accept bitcoin, there would be a threshold at which speculators would stop buying based on the perceived future valuation. So if the price jumped from $215 to $600 in two days, you could be fairly sure that the news was being priced into the market to some extent. The full extent is obviously subject to speculation -- and that is specifically the question of whether or not something is "priced in."

By your definition, there is never, ever an answer. Nothing is ever priced in, because we have no idea what future demand looks like. It is much less tangible -- especially because of the multitude of variables and the inability to isolate the effect of any one event on future demand. Perhaps the first reward halving will be "priced in" two years from now. How would we know?

Bolded does not compute. And we're not talking about rumors, but news. A lack of liquidity does not mean that speculators can't buy or sell based on news.

Who are speculators following? Are they not following other speculators?

I don't think money "finally found" its way to the Chinese market because of news circulating for months... Speculators drove the price up overnight, probably based on Baidu news.

You haven't explain how I am wrong. I never said news doesn't drive money to markets. I am saying there is a distinction between the long term effect on demand and the short to mid term effect of speculators trading on said news.

Keep thinking speculators have nothing to do with markets outside of panic selling. How would you have any idea whether it's "new money" or money that has been sitting on the exchanges? And I said nothing remotely close to the notion that news/exposure doesn't bring new money.

I don't see how one can separate speculators from the equation. They speculate on the prospect of new money coming in. Speculators are the ones who have provided the liquidity and have money on exchanges to drive the price up in the first palce. The "new blood" will continue buying at the top, indeed, and will be crushed when the market turns.

And honestly, blurting out a slogan like "buy the rumor sell the news" is simply ridiculous and completely irrelevant. What are you even talking about? Can you explain to me what you're saying, in the context of what I said?

Yeah, I don't think it's coming from day traders. But I do think it was largely speculators already in the game, with money on the sidelines, that fueled the rally. When I say "speculators" I definitely don't mean for it to be taken as "day trader." I consider myself a speculator, as someone who invests on a mid to long term basis. For example, I had my trading funds in all fiat until after the SR crash, and have been all in since.

I understand the notion of smart money, and I see what you're saying. That's not what I meant at all -- everything I said was in the context of news that had already happened, meaning, like you said, people reading and reacting. But at this point, I think price movement is driving price movement. And the new money is new blood. We'll see how high they drive up the price.  

Bears got a shot here, maybe. What do you think?  

210 being sold into. Let's see where this goes... 

Is Gox frozen or something? I see like 2 or 3 trades in the last half hour. Site seems up though.

211 on Gox. 620 BTC to 210, couple hundred more at 210 than an hour ago.

210 wall is ~150 lighter than a couple hours ago. May be ready for another test.

This room has a familiar sound to it. BUY BUY BUY! UP UP UP!

Yes, all the bull in here is pretty overwhelming! Still, thought we might break below 210 last night. It was not to be.

A few hundred coins just got sold into 210. 578 coins left of the wall.

Can't really say that I'm a bear. I do feel like we are due for a correction sooner than later, and I thought we might break that bearish wedge to the downside. But this is pretty uncharted territory... I'm nervous, though. And I don't have the same certainty that price will continue to rise that the vast majority around here obviously do.

Well, we hit $65 4 months ago. So close!

Just broke downwards, hit 208. Hmmmm.

Edit: Just hit 206.

A bit of action. Popcorn time? 

A look at walls:



I dunno how some of you seem to be so sure where price is going... hats off if you're right...

A bit of sell pressure here.

Definitely some resistance / sell pressure at this level. But the bulls say up, uP, UP!

Momentum shifting? Seeing bearish divergences on MACD and MFI.

Bulls are getting brazen up in here. I just want to see a reversal now so it wipes some of the smugness off these faces.

Those adjectives refer to peoples' attitudes, not perceptions of the market. But, on the point of 200 holding up -- how many days in bitcoin's history has the price been this high? I wouldn't get too comfortable. 

Is it up, uP, UP from here?

Yeah, there's that.

Well, I guess the point remains. 

Pretty calm right now. Where's the volatility?! 

Looks like asks are up a couple thousand coins since I went to bad last night.

15k to break 233, 7k to break 192.

Someone should program a bot that just repeats this phrase on an hourly basis in this thread. Might as well.

You know, this is the wall observer thread... why are you here? Oh, that's right, to keep chiding people into buying coins so they don't "miss the boat."

Posting pictures of bid/ask depth is hardly as you describe, and people aren't being nearly as ridiculous as you indicate. Funny... the quoted is showing the number of coins that need to be bought to break upwards past 220...

Was that me, "repeating how bid depth is less than ask, and "how far we'd panic crash" ("omg omg!") if everyone just dumped, for no apparent reason"?

No fiat in and out? Banking holiday or something? Is this only on Bitstamp?

A look at walls. Oh Mt Gox, what happened to you? 

A little push into 215, a little push back to 210. Back and forth we go.

How do bulls feel if we don't break $216 here? Looking like a triple top, then, yes?

I think if we can't break through $216 on this run, we may find ourselves re-testing $204 support. 

Meh, I've got an eye on Stamp and BTCChina, too... but have found they still don't lead as much as Gox. Especially Bitstamp.

Quiet for the most part tonight... little dip under $210.

Bouncing back and forth between $211 and $215 (Gox). Looks like maybe 2000 coins have been added to bid side down to 192 since I last looked last night.

1k bid wall up at $210. Not quite sure if it was moved or if it's new... Bitcoinity is often off.

I keep seeing that site mentioned. I will check it out. Bitcoinity frustrates me... and clarkmoody just stopped working for me (hardly ever, anyway) a few months ago.

Looks like maybe it was moved:

Hmmm. In which direction, pray tell? 

A bit of movement on Bitstamp:

Yep. There's been a lot of good opportunities to get funds to other exchanges -- inter-exchange spread closed in a lot for a while and still much improved from a couple weeks ago. Some people still want some Gox bucks, though.  

Nice ask wall. I imagine it will be pulled shortly.

BTCChina down? Not seeing any movement and the page won't load..... hope we don't see any lag-induced dumping now.....  

My fingers got itchy for a minute but I'm sitting on my hands. I think there's still upside left to this rally. We'll see! Can't risk losing any bitcoins right now...

Made a quick .5 or so BTC on this correction but man, I ought to stop trading these before this market runs me over..... order book on BTC-E is not dynamic enough, I can't keep up with all the panic!  

Nice! What a nice way to wake up. Almost all my bids filled overnight. Was nervous selling last night. Now I'm almost all in BTC.... can only pick up a bit more if it goes lower....

Whatever your opinion, you can't take the volume numbers as "real" as long 0% fees incentivize volume manipulation. How much manipulation is happening is anyone's guess. But I think to assume that what we are seeing for volume = what we would see with > 0% trading fees is misguided.

How long has this been going on? I didn't realize Gox was even down, I've just had tickers open, thought we were just consolidating here for a bit. 

"Whatever your opinion" refers to whether you agree or disagree that the volume is "fake", or to what extent that it is "fake". Sure, volume isn't the end-all. But you can't look at price movement and assess trends without analyzing it, either.

I don't mind some consolidation. But getting used to $350 bottom? Nah, I don't think so. We've got a ways to go up, and a ways to go down. 

A crash would now be a 15% drop in price? Really? Am I missing something here? You may want to let more than "just days" pass before you get too sure of yourself.

The price was below $200, what, 3 weeks ago? You compare the likelihood of that to the likelihood of $20? 

I would expect more consolidation after such a correction. Thinking we'll see a reversal ~800 or so and then a bounce at a higher low. Not sure if I am willing to risk it, though....

Uh oh. We seem to be approaching one of my sell targets. Perhaps I should revise that number. But I can't help but feel like this will turn into a triangle rather than a straight bull run.....

I lived off credit cards when I was out of work for six months. No regrets here. I see a lot of people get into debt in an emergency only to never, ever get out. That's often how it works. At some point, you choose between staying maxed out permanently and falling off the grid. Shrug....

Any speculation as to where these coins were sent?

I know, right? This is too much....

I was promised a Monday rally!

That's what bulls say. Bears say that the longer we stay in this price range, whales start dumping. 

We definitely need some fiat whales at these prices. Pretty sure they're here. 

Wow, didn't even realize Gox broke 900. Nice.

That's usually how these things go.

BTC, LTC.... what a wonderful way to wake up.

Damn, buying pressure strong.

Not sure if that happened. BTC-E shows -- High: 29.7 USD

I'm not sure I'm gonna play around at calling the top on this. Stakes are too high now.

Holding. 

Yeah, this is ridiculous.

I'd agree that the 1D chart makes this look very much like a bull trap.

This is the last bubble I day trade. I will have a heart attack soon.

Some people are very much bothered by speculation in this forum.

I suppose population is concentrated near the coast.

Although I'm pretty sure this whole "when ____ wakes up" thing has never panned out.

Am I reading this right? China still under $950? Hmmm.

Weird, I'm seeing $951 now.

I can still buy back at profit, but the sentiment screams bull trap. I just don't believe it yet,....

Weak hands get shaken out, more weak hands buy in.

No, bears are indicating that the move from 576 was a bull trap that they are waiting to see complete.

When the trend reverses.

Indeed.  

I don't think "bull trap" is a term used to encompass years of price movement. I don't think it is a long term formation -- at least not for those who use the term.

Has BTCChina been down? Didn't notice my ticker has been frozen for like an hour....

WTF lol..... frozen on bitcoinity AND bitcoinwisdom for me for an hour.... what gives....

Latest thoughts, grain of salt advised:

a. I wouldn't say that. For instance, MFI is looking at price and volume, ATR is measuring volatility. MACD is looking at the [broken] trend. Aroon Up and Down bring another element of time into the equation, and help to confirm trend on MACD.
b. Depends how you like to draw it. What is the "original" trend line?
c. This is bitcoin. I don't see it range trading for even a few weeks given recent price movements. We just took it like 13x from the bottom of the SR crash in what, like 2.5 months. (Excuse my fuzzy math)

Also, understand that I'm just "drawing on charts"... my bearish intuition comes first and foremost.

It's a nice article. I'm not too concerned about news at this point in the cycle. Maybe that's my mistake.  

I figure, I've got enough in storage if I turn out to be epically wrong -- the alt coin boom was very kind to me and there was so much money on the table. I could still panic buy at a profit now if I want to. But I just don't believe this rally.

No news necessary. 

WEEEEEEEEEE

Monument to the "news doesn't matter" argument. Sentiment is king.

What, you don't want Gox bucks?

Panic buying and panic selling are both poor decisions. If your position is sound, commit to it until it is time to reassess -- not the second the market moves against you. I quite like to get away from the charts for a few hours after making a trade. (when not day trading I mean)

I suppose I meant day trading to mean anything on a minute-to-minute to day-to-day basis. When trading on perceived mid-term trends, I don't like to watch the market move against me so I get away for a while....

If we break the previous low, lower than 500, I'd say. But it's too early to get a good feeling. We haven't yet firmly established the downtrend.

Everyone is following either China or Gox, depending on which leads at the time. As far as I can tell, anyway. And China's chart formation is nearly identical to Gox.

Hmm, perhaps a bit of a bounce here. Let's keep it under 968, please!

Yep, to the moon and all that. News is everything!

Feels pretty bearish. Lower low incoming, it seems:

This leg isn't complete. I don't think it means anything unless the next leg is up, and convincingly. Buy pressure has been looking exhausted. Looking at volume, MFI and RSI give me very little hope that a rally can sustain. Some whales could try to prop up the price, but given the weakness behind the bounce from Friday, I think they know they risk being run over.

Considering how the other exchanges followed China on the last drop, it's probably worthy to note that BTCChina's chart is more bearish than Gox.

I'm not saying that a new uptrend is impossible. But previous trend was very much broken -- look at MACD, or the 2 lower highs/2 lower lows.

But, shrug. I dunno. If this level holds, or we see a nice bounce on volume at 5050 CNY or $850, could just stave off the bears...  

Having cold storage and knowing that I made bundles of money the past month will console me if the market moves against me.  

BTCChina... someone trying hard to drive up price to 5500 again, paper thin volume, though....

That's only until someone forces a sell-off. Remains to be seen....

The bears are glad to have you, rpietila.

WEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEE 

Pretty much.

Weeeeeeeeee!

Here I am agreeing with Mirsad .....

Annoying because if all in orders, can't troll.  

Gox has been super stagnant for days, even before last night's drop.

Looks like that push to 4600 is ending now.

Looks like they gave up.  

Doesn't look good to me. 

Certainly no crossovers.....

For those talking about new ATHs next month..... let's break the downtrend first. 

Wow.... Stamp so bearish, way below BTCE

550 broken...

501 just broke on Gox..... 888 left to break 500....

Edit: 2k sell wall up, 477 coins left

494 and dropping..

Total freefall. What a spectacular show.

This has been my feeling (and fear) and adds a whole new element of uncertainty. Now would be a good time to really know how much of the volume on Chinese exchanges was fake..... how many coins there are to potentially dump.....

Lack of sleep is fucking killing me

Do you not see us retesting the low?

I imagine many who have been burnt will exit. But that is to be expected. I don't think we've seen all much capitulation, all considered.

I'd be very surprised if we could push it up to $800 at this point, but it's possible.

The highs can't be overestimated, neither can the lows.

Honestly, I'm at a loss for how ask depth is a useful indicator here. We have no idea how many coins are waiting in the wings, off the books. And we don't know the extent of arbitrage being done by Chinese traders.

Are we sure about that?

Is there an obvious correlation? Could you elaborate as to what that correlation is? What similar/typical situations are we talking about?

This seems very anecdotal. I'm not sure I see the evidence.

Doesn't ask depth dropping make sense when asks are pulled to market sell? Does it make sense to keep your limit orders at $1500 on the book if you are willing/planning to dump them lower?

I get that. I am talking about Chinese traders taking coins from BTCChina to dump on western exchanges. Is there any conceivable way to do this and cash out their fiat?

I figure such spreads are possible for small periods of time -- during times of very high volatility on BTCchina-- at the very least, until arbitrage traders closed them up. But I just don't know if it's even a possibility.

I doctor friend once told me that it's much healthier to shit squatting than to sit on toilets as westerners do.... something about long term effects, organ health..... something....

No thanks.

At some point, probably in the not-so-distant future, I will only hold. Against USD that is -- altcoin bubbles will continue to be easy to play, I think. But these are the times to day trade bitcoin. We won't have these swings forever.....

I mean, generally. I told myself this bubble (and the post-crash swings) would be the last times I day trade against fiat. But we'll see.

I'm still having a hard time figuring out how arbitrage is happening. The price difference would necessitate people looking for ways to do it, but how? Do you mean Chinese traders dumping on western exchanges? Can they get their fiat?

Even Adam is bearish....

Did I start selling too early?

They can withdraw CNY.

What am I missing?

Yep.
Not a double bottom on a meaningful time frame.

That ending diagonal looks to be triggering. No volume, though.

Very classy.

800 coin dump.... it gets interesting....

822 coin dump to 650.... now below

600 more dumped.... WOW

At these prices?

When Loaded posted last, and BTCChina rallied, they were nearing $300.

400 coin wall at $630 now.

Excellent post, thank you.

Someone just market bought 500 coins.

As a newbie entering during the April crash, this was not my mindset. But maybe I am an exception. I saw the price crashing -- at first I jumped in, thinking it would shoot right back up. When it continued to fall, I turned around and panic sold and lost half my fiat. As I watched the price plummet I sat on the sidelines, even after an obvious bottom. Fun times to look back on!  

I recall the long verification queues as price crashed.....

What would you consider short? I'd say we were in a bear market until July, at least, right?

My thinking is that a lot of newbies will buy in, panic sell and get burned. Then they'll exit or sit on the sidelines. What proportion -- I have no idea.

Damn it. I keep telling myself to switch to Stamp. Stamp getting so bearish!

I trade on BTC-E. I've always preferred it to Stamp, partly because BTC-E is/was more volatile and saw lower lows, and partly because Stamp's trade engine is shit.

Should have learned my lesson after Stamp bottomed so low last time..... I want my fiat on Stamp! 

Whoa, didn't notice, only 3915 coins to 530?

We've got 3 hours to turn this 4h candle red. Go!

I rode that bump from 600-640 (BTCE) but am mostly out again. I don't know what the hell is going on.

On that initial drop today, BTCChina dropped like 8-8.5%. Gox dropped like 17%. 5x the volume on Gox. (just ballparking looking at charts)

WTF....

But the dynamic is just insane. Looking at the volume and price movement at BTCChina vs Gox.

Someone earlier said this is a house of cards. Exactly right. I can buy back at a nice profit right now but this is.... I can't help the feeling that I will get slaughtered soon after.

So it was you who said it. 

Yeah, I am sweating right now....

Walsoraj, let's get this started already. 

A couple hundred coins dumped in China... below 3600 now.

Under 3500 CNY

< 2 BTC bought/sold on BTCChina in last 15 minutes........

This is why Fiatleak is useless.

Goombo's system is 10/21, some traders around here follow that on hourly.

CHOOOO CHOOOO

no

hope i don't have to eat my words

I'm up for it!!!

I've just sold a chunk of my position. China is obviously a wild card. But looking at true range and volatility indicators on daily candles, I think this rally is lacking momentum. Chaikin money flow shows sell pressure bias for the first time in months. StochRSI is in "truly" overbought territory (>90). Aroon still in down trend, though MACD signal line looks to cross soon..... very uncertain times..... hoping this short term double top doesn't fail me.....

But hey, I'm having fun! While my work product suffers....

I wouldn't expect buy volume on rallies to compare to sell volume during sell-offs. But the point remains.

Last price: 72 satoshis.

I'd say it's way too early to say. I don't think we have established support levels. We've had only one capitulation.

Wasn't it just the deadline for 3rd party payment processors to stop servicing BTC exchanges? This was already done immediately.

I don't understand. It seems to me, as of late, that rpietila has presented his predictions as a matter of probability, and believes he is making EV+ moves with a decent chance of being wrong. I don't see this as "unjustified arrogance" at all.

How do we avoid the image block? It makes drawing lines on charts less appealing this way.

Hmmm, png and jpg blocked for me... only tried imgur though...

What about merge mined coins? My thinking has been that when most alt coins finally start dying off (though I think we may have some hype cycles yet to come), these chains are likely to remain the most secure of alts. Miners don't really have anything to lose by merge mining.

Edit: I see this has already been discussed.

Just a note on volume:
(Bitstamp)

Edit: http://i.imgur.com/n0OCxhv.jpg
Damn you image block

So, seriously. How does one avoid the image block?

http://i.imgur.com/ZFGqlEi.png
Lines and stuff

Indeed, the trend is undecided. I think there could be upside left here. But I do see fairly weak momentum hitting resistance. And I don't think that market sentiment is anywhere near where we were at 200. I don't think it's moon time just yet.

Because it is based on the 14-day high-low range. "14-day StochRSI equals .80 when RSI is near the high of its 14 day high-low range." http://stockcharts.com/school/doku.php?id=chart_school:technical_indicators:stochrsi

Postimg didn't work either but I see now that imgur worked elsewhere, so maybe it would work now.
Edit: Seems to work now.

I don't think anyone is shocked and amazed. But the holidays don't negate market sentiment and proximity to the recent hype cycle, IMO.

Not sideways. This is the period in question, I think:


Like I said earlier, might be some upside left here. But I don't think we are going to the moon in the next couple weeks.

We shouldn't have so much butt hurt around here. We all made shit loads of money recently!

What is this deadline for, specifically? Wasn't it just for third party payment processors to stop servicing BTC exchanges? Hasn't this already been done?

Who is this guy? Two Bit Idiot?

600 or so coins dumped. Small potatoes. 

SMH

Nice ~1200 market buy.

I think it will return eventually.  

~500 wall holding up 850 now.

The "weekend dip" does not always happen. Not at all.

The "weekend dip" myth has been around a long, long time.

On a sample set of what, 3 or 4? Maybe a back test is in order. But I think I have seen this conversation before....

What are you saying, specifically?