Explanation
Topic: Wall Observer BTC/USD - Bitcoin price movement tracking & discussion - page 28106. (Read 26720385 times)
April 24, 2014, 02:00:25 AM
April 24, 2014, 01:54:54 AM
It's such a simple and consistent pattern - I don't know why everyone is so suprised every time.
It is NOT going to last forever, is it? And isn't the pattern running out of steam (which is motor running on FUD)
April 24, 2014, 01:52:40 AM
Let's play a game:
"Things more exciting than Houbi."
#1. A rusty bucket
#2. Paint drying
#3. Grass growing
#4. Meditation
#5. Nail clipping
Feel free to join in the fun by naming things you think are more exciting than Houbi.
"Things more exciting than Houbi."
#1. A rusty bucket
#2. Paint drying
#3. Grass growing
#4. Meditation
#5. Nail clipping
Feel free to join in the fun by naming things you think are more exciting than Houbi.
NOW>>>> as I type, ... volume is picking up on Stamp and bitfinex and the others are beginning to follow.... The price is dropping.. maybe $5 in the last 20 minutes... HOWEVER... .how low will it go? $470? or $450? Maybe I will buy a little bit if it goes below $450
You haven't bought anything the last 4 times it was at or below $450?
My practice has been to buy BTC in increments over time, and I bought several times while the price was below $450.
my buying increments look like this.... if that means anything.
452.70
446.44
439.82
428.68
418.60
456.35
453.61
444.93
427.50
412.00
341.19
406.26
394.59
440.89
413.60
416.04
454.65
I ran out of fiat while the price was in the $300s, so I was only able to buy a little bit of BTC while the price was in the $300 price range. I am O.k. if the price does NOT go below $450 again, but that price just happens to be my next approximate buy point.
Of course, I were to be fairly certain that BTC prices will fall lower than $450, then I will wait for the lower price to buy at the lowest possible price, but as we know waiting too long can sometimes be a mistake because the lowest price dips seem to come fairly rapidly and do NOT last too long... and even if they last for a period of time we cannot be certain how long it will last or whether the price will be going lower.
April 24, 2014, 01:51:25 AM
It's such a simple and consistent pattern - I don't know why everyone is so suprised every time.
April 24, 2014, 01:33:59 AM
We have a new 3-day low. That's not so bullish. Unfortunate.
Im not sure what you mean by that, yesterday we visited 486 on stamp, not seen that again. BTC china is in a contracting range/wedge. The bullrun is losing momentum but the bias is not bearish.
You answered yourself with your last sentence. If we can make a new 3-day low once, we can make it again pretty easily. The next major line of support is at 472.50. If we breach that we're in bear territory, with the next major supports at 454, 400, and 355.50. If we bounce off 472.50 and break above 515, that would be a pretty good bull sign.
Between 472.50 and 515 is no-man's land. We float with no conviction in either direction.
We edge closer and closer to 472.50. I expect to find some support there. If we break through, we will head down quickly and finally reach capitulation. If we remain above 472.50, I expect more boring drift.
April 24, 2014, 01:33:23 AM
It's such a simple and consistent pattern - I don't know why everyone is so suprised every time.
April 24, 2014, 01:32:01 AM
Let's play a game:
"Things more exciting than Houbi."
#1. A rusty bucket
#2. Paint drying
#3. Grass growing
#4. Meditation
#5. Nail clipping
Feel free to join in the fun by naming things you think are more exciting than Houbi.
"Things more exciting than Houbi."
#1. A rusty bucket
#2. Paint drying
#3. Grass growing
#4. Meditation
#5. Nail clipping
Feel free to join in the fun by naming things you think are more exciting than Houbi.
NOW>>>> as I type, ... volume is picking up on Stamp and bitfinex and the others are beginning to follow.... The price is dropping.. maybe $5 in the last 20 minutes... HOWEVER... .how low will it go? $470? or $450? Maybe I will buy a little bit if it goes below $450
You haven't bought anything the last 4 times it was at or below $450?
April 24, 2014, 01:26:53 AM
Well that is a shame. $480 before $580. I say it's a failure of science.
April 24, 2014, 01:08:18 AM
Darkblackguyshadowcoin seems to be doing well.
April 24, 2014, 01:07:31 AM
What is CCMF?
crypto currency moon forecasting
LOL, thanks, would have never guessed that
And even Uncle Google was not helpful.http://knowyourmeme.com/memes/choo-choo-motherfucker
April 24, 2014, 01:01:09 AM
Let's play a game:
Feel free to join in the fun by naming things you think are more exciting than Houbi.
# 6. OKCoin.Feel free to join in the fun by naming things you think are more exciting than Houbi.
Yes I second that. OKCoin is a curious place these days.
April 24, 2014, 01:00:25 AM
April 24, 2014, 12:55:12 AM
Let's play a game:
"Things more exciting than Houbi."
#1. A rusty bucket
#2. Paint drying
#3. Grass growing
#4. Meditation
#5. Nail clipping
Feel free to join in the fun by naming things you think are more exciting than Houbi.
"Things more exciting than Houbi."
#1. A rusty bucket
#2. Paint drying
#3. Grass growing
#4. Meditation
#5. Nail clipping
Feel free to join in the fun by naming things you think are more exciting than Houbi.
NOW>>>> as I type, ... volume is picking up on Stamp and bitfinex and the others are beginning to follow.... The price is dropping.. maybe $5 in the last 20 minutes... HOWEVER... .how low will it go? $470? or $450? Maybe I will buy a little bit if it goes below $450
April 24, 2014, 12:49:08 AM
Let's play a game:
Feel free to join in the fun by naming things you think are more exciting than Houbi.
# 6. OKCoin.Feel free to join in the fun by naming things you think are more exciting than Houbi.
April 24, 2014, 12:36:04 AM
I like Choo Choo Mother F ... much easier to remember. Crypto Current Moo Wha?
April 24, 2014, 12:32:49 AM
Let's play a game:
"Things more exciting than Houbi."
#1. A rusty bucket
#2. Paint drying
#3. Grass growing
#4. Meditation
#5. Nail clipping
Feel free to join in the fun by naming things you think are more exciting than Houbi.
"Things more exciting than Houbi."
#1. A rusty bucket
#2. Paint drying
#3. Grass growing
#4. Meditation
#5. Nail clipping
Feel free to join in the fun by naming things you think are more exciting than Houbi.
April 24, 2014, 12:30:09 AM
Houbi is like a rusty bucket with a patched hole in the bottom that is a now just a slow leak.
Edit: But on the bright side Bitcoin would make a great stable currency this week. Hooray for that!
Edit: But on the bright side Bitcoin would make a great stable currency this week. Hooray for that!
I would rather be stable in the $750 to $850 range - even for the next year would be o.k. with me.
April 24, 2014, 12:26:47 AM
Houbi is like a rusty bucket with a patched hole in the bottom that is a now just a slow leak.
Edit: But on the bright side Bitcoin would make a great stable currency this week. Hooray for that!
Edit: But on the bright side Bitcoin would make a great stable currency this week. Hooray for that!
April 24, 2014, 12:25:03 AM
What's up guys, are perma bears getting nervous yet?
Is it time to buy, buy, buy?
Is it time to buy, buy, buy?
they should be nervous
its impossible to say the trend has reversed until it clearly has, i'm thinking things will become way clearer in about 48hours
I foresee a melt up to 500+ in < 8hours, then volume will start to pick up and we will have our blast off targeting 590-610, baby steps on the long journey to the moon.
I see no reason we won't see this, I haven't been paying attention for a while ( was AFK for a week!
) , but to me it seems the news has been gr8, appearly china unbanned bitcoin!? is this true? in any case, I'd say < 500$ reflects china pretty much priced out, so ya price has only one way to go now. 
Your comments are interesting Adam. Because if we go back to very beginning of this famous thread, there are many posts where you give advice that a reversal begins by high volume red candles. In fact, you state that low volume read candles are more bearish and less likely to result in a reversal. Yet, here we are, and its been months since we have a really high volume red candle.
That is so 2013!!! NOW it is 2014. Welcome to the future!
April 24, 2014, 12:19:07 AM
Trying to make sense of the Chinese price and volume:
Since it was the yuan input channels that got strangled, not the output ones, we would expect that the downtrend of the last ~3 months would accelerate, because the balance of yuan in the exchanges shoud decrease at an even higher pace. Instead, the downtrend has apparently slowed down.
One hypothesis is that they had many clients who would repeatedly put money in, trade trade trade for a short time, then take their money out. After the deposit channels got strangled, perhaps it was mainly this clientele who reduced their activity -- less often, with less money. That could explain the reduced volume, and also why the decline in price slowed down instead of accelerating: namely, because those clients were also responsible for part fo the net outflow of yuan from the exchanges.
Since it was the yuan input channels that got strangled, not the output ones, we would expect that the downtrend of the last ~3 months would accelerate, because the balance of yuan in the exchanges shoud decrease at an even higher pace. Instead, the downtrend has apparently slowed down.
One hypothesis is that they had many clients who would repeatedly put money in, trade trade trade for a short time, then take their money out. After the deposit channels got strangled, perhaps it was mainly this clientele who reduced their activity -- less often, with less money. That could explain the reduced volume, and also why the decline in price slowed down instead of accelerating: namely, because those clients were also responsible for part fo the net outflow of yuan from the exchanges.
I've also been wondering if the declining volume was fiat leaving Houbi. I think its at least part of it.
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