The evolution of the bid sum on various exchanges does not support a bullish scenario. Compared with December with a top of 475$, the bids are now much lower on
western exchanges, down to 50% on Bitstamp. On Huobi, I suspect a whale / miner bullish manipulation: some 30 - 40 million CNY have been added to the bids during the
last month, but without a real intent on buying, or we would be over 500$ already. Those bids have been pulled every time a minor dump occurred.
Daily MACD has crossed to negative on Bitfinex and Bitstamp, but not on Chinese exchanges yet. So IMO the market is vulnerable to bad news, especially from China.
A possible bad news could be the auctioning of the 202k BTC during the MtGox distribution, which could be announced tomorrow (or not, distribution by BTC would be bullish).
If the auction(s) will take place, this could trigger 2 tests of the bottom support, one on the announcement, the other on the auction. After the distribution by fiat
I would expect a rally, fueled by FOMO buying with the newly available funds.
PS. Found a scenario that is in line with my expectations.
https://www.tradingview.com/chart/BTCUSD/bRHCR1I2-Bitcoin-The-End-of-an-Era/
Topic: Nights Watch by Afrikoin - page 151. (Read 303329 times)
Bunch of lines converging there, flat and boring June is coming.
Then, only then, will it be time for the fireworks
Then, only then, will it be time for the fireworks
This highlights problems (w/protocol) bitcoin needs to iron out for price to trully take off. There are indifferences in the development and mining community, and right now, the protocol is the fundamental ofr price. No protocol, no bitcoin.
Antpool Will Not Run SegWit Without Bitcoin Block Size Increase Hard Fork
https://bitcoinmagazine.com/articles/antpool-will-not-run-segwit-without-block-size-increase-hard-fork-1464028753
Antpool Will Not Run SegWit Without Bitcoin Block Size Increase Hard Fork
https://bitcoinmagazine.com/articles/antpool-will-not-run-segwit-without-block-size-increase-hard-fork-1464028753
$400 n up.. down?!?..? $440ish the bottom and up?!
NEXT COIN TIME
NEXT COIN CHANNEL
NEXT COIN TIME
NEXT COIN CHANNEL
I don't go in for Elliot wave stuff myself for me trend still looks bullish, although with short term bearish pressure and yet again another wedge constraining the action.
Possible count on Bitfinex. Wave c could easily go lower as long as it stays above $389. It could also have just completed but would look better with another drop.
Sorry to dissappoint you r0ach. But Bitcoin is about to take a bit of a drop from here. I hope for your sake, and for mine since I have a blind buy in at $420, that BTC won't just go and break everyone's hearts and punch right through that very important $420 level, without even giving it a second look.
This was in my country's newspaper today 
Really proud
Really proud
Goldman Sachs Downgrades Global Equities, Recommends Cash
http://www.bloomberg.com/news/articles/2016-05-18/goldman-sachs-downgrades-global-equities-recommends-cash
"Goldman analysts led by Christian Mueller-Glissmann have downgraded global equities to 'neutral' over the next 12 months, recommending investors turn to cash instead."
"The firm remains overweight cash mainly due to the market 'only' expecting zero or one additional interest rate hike from the Federal Reserve through the rest of 2016."
http://www.bloomberg.com/news/articles/2016-05-18/goldman-sachs-downgrades-global-equities-recommends-cash
"Goldman analysts led by Christian Mueller-Glissmann have downgraded global equities to 'neutral' over the next 12 months, recommending investors turn to cash instead."
"The firm remains overweight cash mainly due to the market 'only' expecting zero or one additional interest rate hike from the Federal Reserve through the rest of 2016."
Interesting comment on this chart by John Bollinger, inventor of Bollinger Bands on Bitcoin Markets
says "that is a LOT of compression. Time to pay attention!"
says "that is a LOT of compression. Time to pay attention!"
"Note that narrowing bands do not provide any directional clues. They simply infer that volatility is contracting and chartists should be prepared for a volatility expansion, which means a directional move"
http://stockcharts.com/school/doku.php?id=chart_school:trading_strategies:bollinger_band_squee
Interesting comment on this chart by John Bollinger, inventor of Bollinger Bands on Bitcoin Markets
says "that is a LOT of compression. Time to pay attention!"
says "that is a LOT of compression. Time to pay attention!"
GOOD READ:
4 Lessons I Learned Trading Bitcoin in 2016
https://blog.whaleclub.co/4-lessons-i-learned-trading-bitcoin-in-2016-1f034827a1f1#.di3uw852y
4 Lessons I Learned Trading Bitcoin in 2016
https://blog.whaleclub.co/4-lessons-i-learned-trading-bitcoin-in-2016-1f034827a1f1#.di3uw852y
+1
Yes a good read
GOOD READ:
4 Lessons I Learned Trading Bitcoin in 2016
https://blog.whaleclub.co/4-lessons-i-learned-trading-bitcoin-in-2016-1f034827a1f1#.di3uw852y
4 Lessons I Learned Trading Bitcoin in 2016
https://blog.whaleclub.co/4-lessons-i-learned-trading-bitcoin-in-2016-1f034827a1f1#.di3uw852y
Assuming that both gold and bitcoin are breaking out of a bear phase, what precisely would that signal about the global macro environment?
https://twitter.com/TuurDemeester/status/732276472350547968
https://twitter.com/TuurDemeester/status/732276472350547968
"On a technical level, this looks like June 2014. The most staggering indicator is the volume oscillator on the weekly which is in the absolute basement right now. Literally the lowest point on the graph in its history
With margin longs approaching an all time high, the market is essentially saying that while there is no volume to confirm the current rally, we hope somebody swoops in and suddenly buys a lot of bitcoin so that we can start taking profits on our margin positions.
Fundamentals would need to change drastically (protocol update) or those margin longs would need to get shaken out for volume to even support a rally to warrant a run beyond 470. This goes for LTC as well which is getting heavily pumped by folks at Whale Club.
"
With margin longs approaching an all time high, the market is essentially saying that while there is no volume to confirm the current rally, we hope somebody swoops in and suddenly buys a lot of bitcoin so that we can start taking profits on our margin positions.
Fundamentals would need to change drastically (protocol update) or those margin longs would need to get shaken out for volume to even support a rally to warrant a run beyond 470. This goes for LTC as well which is getting heavily pumped by folks at Whale Club.
"
its not about the halfing
its about all the new shit dev.ed during the bear market
its about segwit + LN increasing capacity to potentially limitless
its about banks recognizing blockchain tech's potential.
its about all the new shit dev.ed during the bear market
its about segwit + LN increasing capacity to potentially limitless
its about banks recognizing blockchain tech's potential.
slowly but surely..
Everything when it takes it's own time, becomes wounderful
volume looks pretty shitty though
wouldnt be surprised if we break that nice uptrend and test 370 again. lots of bullish expectations and barely any volume.
When triangles break out, they break violently. This is pretty tame for a triangle that lasted ~6 months.
Breaking 3030 could make this impulse a primary wave... the implications are potentially very bullish.
notice how the retrace of hypothetical i is exactly 0.618... just how we like it.
notice how the retrace of hypothetical i is exactly 0.618... just how we like it.
Jump to: