Can someone explain how the price is so stable all of a sudden?

MatTheCat

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Quote from: af_newbie on February 28, 2014, 12:18:09 PM

Quote from: MatTheCat on February 28, 2014, 11:58:31 AM

Since we have the 4hr MacD, threatening to hit a crossover, and since we have not yet had any meaningful correction from a whopping $400 - $610 recovery, my money is on $550 being broken to downside.

With all that in mind, Bitcoin @ 578 (right now) could yet be a cracking short trade, being sure to keep a close eye on how Bitcoin reacts and bounces of the $500 range.

the 4hr MACD is almost there, but RSI is not. We need another push to get RSI into overbought IMHO, then both RSI/MACD will be confirmed. Say, 580-600 again, followed by a pullback.

Looking a total cert now though.

This sucker is going down!

cbutters

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Quote from: lemfuture on February 28, 2014, 05:20:33 PM

i was expecting a panic sell thx to gox fiasco but meh :L

Gox has already brought the market down from 800 to 400... not much more they could do.. damage has been done.... and might dip even just a bit further. We will see some better action once we break out horizontally of the downward trend lines.

lemfuture

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Quote from: Obi-Wan Coinobi on February 28, 2014, 05:15:47 PM

Quote from: proudhon on February 28, 2014, 12:33:05 PM

I fully expect some of you guys who are short term trading/day trading bitcoin, especially in the US, to be well and truly fucked over by the IRS as they catch up and issue guidance on taxing bitcoin. I seriously hope you guys are keeping good records.

Well thank you for your concern. Your "hope" has been noted.

just tell to irs, we got "goxed" Tongue

lemfuture

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i was expecting a panic sell thx to gox fiasco but meh :L

Obi-Wan Coinobi

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Quote from: proudhon on February 28, 2014, 12:33:05 PM

I fully expect some of you guys who are short term trading/day trading bitcoin, especially in the US, to be well and truly fucked over by the IRS as they catch up and issue guidance on taxing bitcoin. I seriously hope you guys are keeping good records.

Well thank you for your concern. Your "hope" has been noted.

anth0ny

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Quote from: mmitech on February 28, 2014, 12:46:04 PM

Quote from: proudhon on February 28, 2014, 12:37:00 PM

I think a good portion of the volatility the market experiences is due to amateur traders who still think this is a fully under ground internet play thing that they can go in and out of, take profits, buy, sell, whatever with no accounting or concern for tax obligations or reporting of any kind. I think an awareness of these sorts of obligations to accounting dampen volatility a bit in typical financial markets.

it is legal in Slovenia Wink

capital gains are Tax free, speculation on an asset/stock is legal as long as you can prove the logs and source on income, I am thankful that I live here

In the US, the long term (> 1 year) capital gains rate is 0% for most people.

600watt

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Quote from: mmitech on February 28, 2014, 12:46:04 PM

Quote from: proudhon on February 28, 2014, 12:37:00 PM

I think a good portion of the volatility the market experiences is due to amateur traders who still think this is a fully under ground internet play thing that they can go in and out of, take profits, buy, sell, whatever with no accounting or concern for tax obligations or reporting of any kind. I think an awareness of these sorts of obligations to accounting dampen volatility a bit in typical financial markets.

it is legal in Slovenia Wink

capital gains are Tax free, speculation on an asset/stock is legal as long as you can prove the logs and source on income, I am thankful that I live here

in germany no capital gains tax after hodling longer than 12 months.

mmitech

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things you own end up owning you

Quote from: proudhon on February 28, 2014, 12:37:00 PM

I think a good portion of the volatility the market experiences is due to amateur traders who still think this is a fully under ground internet play thing that they can go in and out of, take profits, buy, sell, whatever with no accounting or concern for tax obligations or reporting of any kind. I think an awareness of these sorts of obligations to accounting dampen volatility a bit in typical financial markets.

it is legal in Slovenia Wink

capital gains are Tax free, speculation on an asset/stock is legal as long as you can prove the logs and source on income, I am thankful that I live here

proudhon

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I think a good portion of the volatility the market experiences is due to amateur traders who still think this is a fully under ground internet play thing that they can go in and out of, take profits, buy, sell, whatever with no accounting or concern for tax obligations or reporting of any kind. I think an awareness of these sorts of obligations to accounting dampen volatility a bit in typical financial markets.

proudhon

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I fully expect some of you guys who are short term trading/day trading bitcoin, especially in the US, to be well and truly fucked over by the IRS as they catch up and issue guidance on taxing bitcoin. I seriously hope you guys are keeping good records.

af_newbie

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Quote from: MatTheCat on February 28, 2014, 11:58:31 AM

Since we have the 4hr MacD, threatening to hit a crossover, and since we have not yet had any meaningful correction from a whopping $400 - $610 recovery, my money is on $550 being broken to downside.

With all that in mind, Bitcoin @ 578 (right now) could yet be a cracking short trade, being sure to keep a close eye on how Bitcoin reacts and bounces of the $500 range.

the 4hr MACD is almost there, but RSI is not. We need another push to get RSI into overbought IMHO, then both RSI/MACD will be confirmed. Say, 580-600 again, followed by a pullback.

MatTheCat

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Quote from: af_newbie on February 28, 2014, 11:37:45 AM

Quote from: MatTheCat on February 28, 2014, 03:34:47 AM

Quote from: TERA on February 28, 2014, 03:04:25 AM

It's really simple. Two strong trends collided and are smashed up against eachother. Everyone was extremely bullish after the gox reversal and wanted to buy buy buy, but then the price collided with the month-old established bear trend, and stopped the rally. Everyone was still so bullish that they didn't want to accept that a retracement was neccessary to break the bear trend, so it just stalled out. I still think it needs to go to ~500-530 first and consolidate before it can break the trend. It might take some news event to shake things up.

I have been sleeplessly watching this like a hawk. Until China started playing, we were heading for what I would have thought was a bull trap short squeezing break out...then Huobi started selling off strong.....the rest will fall into place like dominoes from here....although there still may be a bit of bullish stubborness to be shaken out market before correction kicks in good n proper.

I'd not count on 500. The 4hr improved quite a bit for the bulls. All this on a ~$20 pullback.

Significant support at this point is $550. Any price below this and there are going to be a shit load of bagholders in the market. Took a 6K BTC of buying on Stamp to get from $550 up to and above $560.

If Bitcoin breaks below this, then upper $400 range would not be out of the question.

The coming trading period will be all about testing this $550 range. Since we have the 4hr MacD, threatening to hit a crossover, and since we have not yet had any meaningful correction from a whopping $400 - $610 recovery, my money is on $550 being broken to downside.

With all that in mind, Bitcoin @ 578 (right now) could yet be a cracking short trade, being sure to keep a close eye on how Bitcoin reacts and bounces of the $500 range.

af_newbie

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Quote from: MatTheCat on February 28, 2014, 03:34:47 AM

Quote from: TERA on February 28, 2014, 03:04:25 AM

It's really simple. Two strong trends collided and are smashed up against eachother. Everyone was extremely bullish after the gox reversal and wanted to buy buy buy, but then the price collided with the month-old established bear trend, and stopped the rally. Everyone was still so bullish that they didn't want to accept that a retracement was neccessary to break the bear trend, so it just stalled out. I still think it needs to go to ~500-530 first and consolidate before it can break the trend. It might take some news event to shake things up.

I have been sleeplessly watching this like a hawk. Until China started playing, we were heading for what I would have thought was a bull trap short squeezing break out...then Huobi started selling off strong.....the rest will fall into place like dominoes from here....although there still may be a bit of bullish stubborness to be shaken out market before correction kicks in good n proper.

I'd not count on 500. The 4hr improved quite a bit for the bulls. All this on a ~$20 pullback.

sgbett

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Quote from: TERA on February 28, 2014, 03:04:25 AM

It's really simple. Two strong trends collided and are smashed up against eachother. Everyone was extremely bullish after the gox reversal and wanted to buy buy buy, but then the price collided with the month-old established bear trend, and stopped the rally. Everyone was still so bullish that they didn't want to accept that a retracement was neccessary to break the bear trend, so it just stalled out. I still think it needs to go to ~500-530 first and consolidate before it can break the trend. It might take some news event to shake things up.

A1 TA WOULD TA AGAIN

MatTheCat

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Quote from: TERA on February 28, 2014, 03:04:25 AM

It's really simple. Two strong trends collided and are smashed up against eachother. Everyone was extremely bullish after the gox reversal and wanted to buy buy buy, but then the price collided with the month-old established bear trend, and stopped the rally. Everyone was still so bullish that they didn't want to accept that a retracement was neccessary to break the bear trend, so it just stalled out. I still think it needs to go to ~500-530 first and consolidate before it can break the trend. It might take some news event to shake things up.

I have been sleeplessly watching this like a hawk. Until China started playing, we were heading for what I would have thought was a bull trap short squeezing break out...then Huobi started selling off strong.....the rest will fall into place like dominoes from here....although there still may be a bit of bullish stubborness to be shaken out market before correction kicks in good n proper.

TERA

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It's really simple. Two strong trends collided and are smashed up against eachother. Everyone was extremely bullish after the gox reversal and wanted to buy buy buy, but then the price collided with the month-old established bear trend, and stopped the rally. Everyone was still so bullish that they didn't want to accept that a retracement was neccessary to break the bear trend, so it just stalled out. I still think it needs to go to ~500-530 first and consolidate before it can break the trend. It might take some news event to shake things up.

Lloydie

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Because there were too many Fluc U Asians. Grin

Jrock

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Quote from: Obi-Wan Coinobi on February 27, 2014, 08:24:06 PM

Can someone explain how the price is so stable all of a sudden? It's like the roller coaster is out of order. Roll Eyes

Quite a few whales got clipped on mtgox. You'd be amazed on how much money/coins certain people kept on that exchange. ( i got clipped too but I'm no whale/manipulator)

I'd imagine the next few weeks, maybe months will be very boring after the whole fiasco.

InsanityDev

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Quote from: derpinheimer on February 28, 2014, 01:51:45 AM

Quote from: pheaonix on February 28, 2014, 01:45:53 AM

i think chinese buying pressure is too much to reliably short. i will watch closely. i doubt more than -10% change within an hour unless news hits.

I like how you edited it from -5% to -10% lol.

maybe he knows something!

derpinheimer

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Quote from: pheaonix on February 28, 2014, 01:45:53 AM

i think chinese buying pressure is too much to reliably short. i will watch closely. i doubt more than -10% change within an hour unless news hits.

I like how you edited it from -5% to -10% lol.

Topic: Can someone explain how the price is so stable all of a sudden? (Read 4666 times)