We need a higher price anyway, for the miners, if the price drops, there will be less miners, and gets really dangerous with more the 51% hash mining power located behind the big fire wall in China!!
I think your right what about a big upcoming move, not because technical indicators, they dont tell you anything, all past data , with not 1% prediction in it. If that was the case, there would be a bot trading the holy grale indicator.
But the lending rates on Poloniex are the last 3 days dubbed, so traders are taking positions with margin, sooner or later , one side will be squeezed out.
Topic: Lots of evidence that this market is preparing for a move... (Read 613 times)
September 17, 2016, 06:11:40 AM
bitcoin is currently stable , few months back it was down because of hacking on exchanger sites etc . but there is some chances that it move up further ,people may buy more bitcoins ,investment may come in and hope bitcoin price moving further to next high.
Bitcoin has hit a good level,now it needs an opportunity to hit the next price and rise,I expect this to come rather soon
And news coming about apple to integrate bitcoin, also kimDotCom will be launching next year his bitcache as micropayments etc I believe that theres no other way but to move up. I am very optimistic and of course it is good to all of us.
Stability is a good thing for investors looking for a safe place to invest their money for the long term. The won't be as easily scared of by big drops in price.
stability is better for people looking for using bitcoin as a currency not as an investment. any investor would want a volatile market so he can easily make money from the ups and downs.
if the price is stable then nobody wants to get involved as an investment because the opportunity of profit is low. but they want to use it as currency instead.
Stability is a good thing for investors looking for a safe place to invest their money for the long term. The won't be as easily scared of by big drops in price.
You/We will be really disappointed when limit up /limit down regulations take place.. then all the free money will be gone.. and i dont know with what we will playin with..!
I think we got a long time to wait yet. even if there are regulated exchanges in certain jurisdictions there'll be a bunch of other ones abroad that don't care. I dunno how the price is gonna work in this scenario.
there are already investment grade exchanges like itbit and gemini. no one in the bitcoin trading world seems to give a shit about them.
Bitcoin has hit a good level but not good enough level. I agree though any price below 500 USD mark is a buy price and any price above 700 USD is a sell price. I am a bit disappointed though with bitcoin yet as I expected the price to be stable few months after halving to 650-800 USD which is not happening yet.
You/We will be really disappointed when limit up /limit down regulations take place.. then all the free money will be gone.. and i dont know with what we will playin with..!
Bitcoin has hit a good level but not good enough level. I agree though any price below 500 USD mark is a buy price and any price above 700 USD is a sell price. I am a bit disappointed though with bitcoin yet as I expected the price to be stable few months after halving to 650-800 USD which is not happening yet.
Bitcoin has hit a good level,now it needs an opportunity to hit the next price and rise,I expect this to come rather soon
You're not wrong. Bitcoin seems stable, waiting for a financial crisis to moon.
Bitcoin Price Update for September 16, 2016
Market Commentary (BTC):
Bitcoin is still within a few pennies of what the price was when we issued our update yesterday, which is pretty incredible considering OKCoin futures settlement occurred overnight last night. Despite some choppy volatility in those specific futures markets, the other major exchanges took everything in stride to remain within the tight 605 - 610 $ range. While this may not seem like a big deal as a singular event it does add to the growing pile of evidence that this market is preparing for a move, a move to the upside in our opinion. Both the technicals and fundamentals a aligning going into this fall which will be a recipe for some big moves over the coming months.
Today we take a look at the daily chart for a look at the medium term setup going into the weekend trade. We can see that price remains in the symmetrical triangle, and is still flatlining just above the bottom of the pivot zone. Also notice that we are stuck between the 9 and the 18 EMA's, the 200 SMA continues to trend higher, and price is currently still in a volume profile notch area that could use more exploration. These mixed signals are showing indecision and a lack of conviction on either side of the market so we don't think we are ready for a breakout just yet, although we also don't think it is too far off considering momentum is recharging with little to no reaction in price.
Getting to said momentum, we can see on the oscillators that there is still some work to be done to the downside, however they are awfully close to testing support at their respective centerlines. Willy and RSI are staying fairly flat in the upper half while MACD has already crossed over its zeroline, and PPO is showing some slightly overbought conditions although they are dwindling as we speak. Additionally, SCMR is still painting neutral candles, new dynamic support and resistance are nowhere to be found, and the A/D line continues to press to the upside despite lackluster exchange volumes and price action over the course of this week.
For the time being the market doesn't seem to be giving us any immediate clues that a dump is imminent which is why we are holding strong in the VST ProTrade. Despite tightening our official stoploss level just a tad, we still think there is a pretty good chance of a retest of the 620 - 630 $ area over the weekend prior to a failure move to the downside into our ST buy zone. On that note, we also think there is a possibility that we see a move down into the MT PT zone between 480 - 500 $, but we are not counting on it at this point.
Having said that, we think the odds are much more in favor of a spike tag of the 570 - 580 $ area that gets bought up quickly, rather than another grind lower into medium term support. Price action should be interesting and revealing early next week which is why we will issuing a full BBB report on Monday.
GLGT & Have a great weekend!
Market Commentary (BTC):
Bitcoin is still within a few pennies of what the price was when we issued our update yesterday, which is pretty incredible considering OKCoin futures settlement occurred overnight last night. Despite some choppy volatility in those specific futures markets, the other major exchanges took everything in stride to remain within the tight 605 - 610 $ range. While this may not seem like a big deal as a singular event it does add to the growing pile of evidence that this market is preparing for a move, a move to the upside in our opinion. Both the technicals and fundamentals a aligning going into this fall which will be a recipe for some big moves over the coming months.
Today we take a look at the daily chart for a look at the medium term setup going into the weekend trade. We can see that price remains in the symmetrical triangle, and is still flatlining just above the bottom of the pivot zone. Also notice that we are stuck between the 9 and the 18 EMA's, the 200 SMA continues to trend higher, and price is currently still in a volume profile notch area that could use more exploration. These mixed signals are showing indecision and a lack of conviction on either side of the market so we don't think we are ready for a breakout just yet, although we also don't think it is too far off considering momentum is recharging with little to no reaction in price.
Getting to said momentum, we can see on the oscillators that there is still some work to be done to the downside, however they are awfully close to testing support at their respective centerlines. Willy and RSI are staying fairly flat in the upper half while MACD has already crossed over its zeroline, and PPO is showing some slightly overbought conditions although they are dwindling as we speak. Additionally, SCMR is still painting neutral candles, new dynamic support and resistance are nowhere to be found, and the A/D line continues to press to the upside despite lackluster exchange volumes and price action over the course of this week.
For the time being the market doesn't seem to be giving us any immediate clues that a dump is imminent which is why we are holding strong in the VST ProTrade. Despite tightening our official stoploss level just a tad, we still think there is a pretty good chance of a retest of the 620 - 630 $ area over the weekend prior to a failure move to the downside into our ST buy zone. On that note, we also think there is a possibility that we see a move down into the MT PT zone between 480 - 500 $, but we are not counting on it at this point.
Having said that, we think the odds are much more in favor of a spike tag of the 570 - 580 $ area that gets bought up quickly, rather than another grind lower into medium term support. Price action should be interesting and revealing early next week which is why we will issuing a full BBB report on Monday.
GLGT & Have a great weekend!
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