Such Stability! - page 2. | Bitcointalksearch.org

davis196

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Quote from: thecodebear on October 25, 2018, 11:29:08 AM

We're working on day 11 of prices hanging tight within a $130 range! That's crazy. Can't wait to see the price break. I think we could see an hour candle up to $6800 when it finally breaks.

Way too many btc HODLers+equal amount of bulls and bears on the market=Incredible price stability.
This is the simple equation I can figure out about the current situtation.The one thing that keeps the bitcoin price stable is the btc HODLers army,if they join the bears club,the price will go down for sure.

triciaa478

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For the past month, the stability that bitcoins has gained in the 6000 usd range seems to me is the real price of bitcoins since it hasn't been volatile as it used to be in the past months.

thecodebear

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Quote from: The Sceptical Chymist on October 25, 2018, 04:47:42 PM

Quote from: thecodebear on October 25, 2018, 11:29:08 AM

We're working on day 11 of prices hanging tight within a $130 range!

What month are we working on as far as being in the $6000 +/- $500 range? Seems like bitcoin has been stuck somewhere between just short of $5k and not much over $6500 for quite a while now, with no real action that would suggest any sort of trend. This very much reminds me of not long after I'd gotten into bitcoin--the price was stalled at around $420-$450 for what seemed like forever.

Thankfully that time around when bitcoin started to move again it was in the upward direction. Hopefully this time when we get out of the range we've been in, it'll also be a move upward. I don't trade bitcoin actively on exchanges, but this lack of the usual volatility has got to be murder on those who do. Buy-and-hold (and hope for the best) seems to be the best strategy right now.

Well this is to be expected. In early August the price dropped from the 8000s back to the floor at 6000, then the last surge of the bear market brought it to 7400 maybe a month later, then since early september we've been flat. But that's exactly what you expect when a bear market ends and bitcoin enters the transition phase before the bull market. So it's only been 2.5+ months or so since it dropped down from $8k and only 1.5+ months since the close of the bear market and just sideways trading. That isn't like an insanely long time. I wouldn't be surprised to see several more months around the 6000s range. Though the past 11 days of only a 2% range is verrrrryyy quiet. While I expect 5700 - 7400 range could last for a few more months I would be surprised if this total dead movement lasts into next week, its gotta budge at some point and start getting at least a few percent volatility.

The Sceptical Chymist

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Quote from: thecodebear on October 25, 2018, 11:29:08 AM

We're working on day 11 of prices hanging tight within a $130 range!

What month are we working on as far as being in the $6000 +/- $500 range? Seems like bitcoin has been stuck somewhere between just short of $5k and not much over $6500 for quite a while now, with no real action that would suggest any sort of trend. This very much reminds me of not long after I'd gotten into bitcoin--the price was stalled at around $420-$450 for what seemed like forever.

Thankfully that time around when bitcoin started to move again it was in the upward direction. Hopefully this time when we get out of the range we've been in, it'll also be a move upward. I don't trade bitcoin actively on exchanges, but this lack of the usual volatility has got to be murder on those who do. Buy-and-hold (and hope for the best) seems to be the best strategy right now.

thecodebear

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I'd love to see a huge spike up to $9000 that falls back to $7000 and then we build up slowly. But only because I have a bunch of trades stuck in the $8000s ;p

figmentofmyass

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Quote from: fabiorem on October 25, 2018, 03:30:46 PM

If we have a breakout, I hope it will be straight to 12k.

i prefer slow and steady.

the giant green dildos often scare the bears out of the market, which sets up a long-heavy commitment of traders. too fast and all the shorts get squeezed without creating any support on the way up. that often ends in full retraces or slow bleeds.

i'd love to see a real struggle at $7400 over that august pivot. i wanna see bears piling them shorts on. i wanna see confident bears.

fabiorem

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If we have a breakout, I hope it will be straight to 12k.

figmentofmyass

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Quote from: thecodebear on October 25, 2018, 11:29:08 AM

We're working on day 11 of prices hanging tight within a $130 range! That's crazy. Can't wait to see the price break. I think we could see an hour candle up to $6800 when it finally breaks.

*pokes bitcoin with a stick*

the daily bollinger bands are still showing some range ($6250-6850). so i won't be surprised if there's a little headfake outside the 10-day range that doesn't follow through.

fingers crossed that you're right about the upside break. i don't trust exchanges with my coins, so hedging for me usually means 5-10x shorts on futures to minimize exchange risk. but that kind of leverage can really mess with one's emotions too. i'd much rather see a medium term bull trend develop so i can sit on my coins for a while.

thecodebear

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We're working on day 11 of prices hanging tight within a $130 range! That's crazy. Can't wait to see the price break. I think we could see an hour candle up to $6800 when it finally breaks.

Topic: Such Stability! - page 2. (Read 336 times)