Am I the only one questioning this downward trend?
Which downward trend? There are several.
the last 3 hours in the more short-term view
That will be the Chinese celebrating Easter. Confirmed.
Topic: Wall Observer BTC/USD - Bitcoin price movement tracking & discussion - page 28165. (Read 26720873 times)
April 18, 2014, 08:40:02 AM
Which downward trend? There are several.
the last 3 hours in the more short-term view
That will be the Chinese celebrating Easter. Confirmed.
April 18, 2014, 08:38:24 AM
Not feeling it, i think people who expect its to go below 400 again will get burned
April 18, 2014, 08:37:43 AM
Am I the only one questioning this downward trend?
Which downward trend? There are several.
the last 3 hours in the more short-term view
April 18, 2014, 08:35:38 AM
I still have my bids in the 300s, don't expect them to get filled, but would be nice if they did.
April 18, 2014, 08:34:18 AM
So we return to catch the knife game . How don't you want to day trade bitcoin it is so funny
April 18, 2014, 08:31:03 AM
Am I the only one questioning this downward trend?
Which downward trend? There are several.
April 18, 2014, 08:27:08 AM
Am I the only one questioning this downward trend?
Also listening to run to the hills by iron maiden while watching this has brought great joy.
Also listening to run to the hills by iron maiden while watching this has brought great joy.
April 18, 2014, 08:23:44 AM
Where are links to scary chiniese articles, i think its time
April 18, 2014, 08:05:28 AM
These notices on the Chinese exchange websites may be relevant, especially the OKCoin one below:
Huobi, April 17 17:16 CST = April 17 09:16 UTC
http://www.huobi.com/news/index.php?a=show_notice&id=324
OKCoin, April 18 20:29 CST = April 18 12:29 UTC
https://www.okcoin.com/t-1008440.html
Huobi, April 17 17:16 CST = April 17 09:16 UTC
http://www.huobi.com/news/index.php?a=show_notice&id=324
Quote
Notice of suspension of bank recharge fire coins network approach
Time :2014-04-17 17:16:40 Source: Huobi.com
Dear Huobi.com users:
16:15 this afternoon received a branch of China Construction Bank on land client manager notification requirements should be higher line, CCB will suspend the provision of services for Huobi gold into the network. Due to the current banking policy uncertainties, we have decided to suspend the bank recharge this way (withdrawals are not affected), to be determined before making policy adjustments. Users can use the recharge card, prepaid card supports all major banks, 7 * 24 hours a timely arrival.
Huobi.com Operations
2014.04.17
Time :2014-04-17 17:16:40 Source: Huobi.com
Dear Huobi.com users:
16:15 this afternoon received a branch of China Construction Bank on land client manager notification requirements should be higher line, CCB will suspend the provision of services for Huobi gold into the network. Due to the current banking policy uncertainties, we have decided to suspend the bank recharge this way (withdrawals are not affected), to be determined before making policy adjustments. Users can use the recharge card, prepaid card supports all major banks, 7 * 24 hours a timely arrival.
Huobi.com Operations
2014.04.17
OKCoin, April 18 20:29 CST = April 18 12:29 UTC
https://www.okcoin.com/t-1008440.html
Quote
Title: OKCoin revalue recharge way, you know everything!
[] OKCoin emergency notification platform Fraud Guide # 1 Posted :2014-04-18 20:29:42 - IP:. 114.249 * *.
OKCoin revalue recharge way, you know everything!
You know everything! Due to the current banking policy uncertainty, recent recharge channel is not stable, we decided to suspend the bank recharge this way (withdrawals are not affected), to be determined before making policy adjustments; Currently we please recharge code to recharge, recharge recharge code to support all mainstream banks, OKCoin funds will make every effort to ensure that users can properly recharge.
In order not to affect the normal market conditions, the recent adjustment of the way the site will no longer recharge announcement, users Please login OKCoin before recharge recharge using the latest methods. Recharge encounter any problems, please contact OKCoin24 hour customer service phone 400-660-9037.
[] OKCoin emergency notification platform Fraud Guide # 1 Posted :2014-04-18 20:29:42 - IP:. 114.249 * *.
OKCoin revalue recharge way, you know everything!
You know everything! Due to the current banking policy uncertainty, recent recharge channel is not stable, we decided to suspend the bank recharge this way (withdrawals are not affected), to be determined before making policy adjustments; Currently we please recharge code to recharge, recharge recharge code to support all mainstream banks, OKCoin funds will make every effort to ensure that users can properly recharge.
In order not to affect the normal market conditions, the recent adjustment of the way the site will no longer recharge announcement, users Please login OKCoin before recharge recharge using the latest methods. Recharge encounter any problems, please contact OKCoin24 hour customer service phone 400-660-9037.
April 18, 2014, 08:04:18 AM
You ignore the chart indicators because of your belief, and then complain later and ask why you are losing.
I ignore the chart indicators, because I still don't know how to read chart indicators. I'm still learning, so I follow this forum for advice, and then follow the forum's advice not to follow any advice I find on this forum.
I have no idea whether I should be shorting right now and buying back lower. Last time I panic sold, I lost 1/8 of my investment.
No one can "read" the chart indicators correctly all the time because there are too many of them and they more often than not conflict. TERA, who admittedly does not do well unless there is a raging bull cycle, is telling people to do more of what he does. Not sure why.
At any rate, a good understanding of both technicals and fundamentals, a willingness to study the market behavior, and a good instinct is what you should aim for.
My 2cents here. Its not a great place to short. 520 was a great place to short. This market is selling off on low volume into a lot of resistance. Sure it could do this for the next 2 weeks like it did in March, but thats not for certain. A news articles could crash it as well, but there is no news on the weekends most of the time.
I think its a good time to be out of coins into fiat until the continuation (my most likely scenario) of the bear market is confirmed.
I believe that I get what you are saying here; however how do you know when to get back in? Are you getting back in, at some point? $440-ish? or lower? and let's say we get to $440ish, then rally but bull trap? you go based on volume to figure out whether it is a true rally? it is just so hard to tell if there is a whale or two who seem to be selling at a loss, just to drive down prices. You cannot be sure about when that whale is going to change strategies.
The Bitcoin day trading meat grinder: where the only line sure to go parabolic is the learning curve.
April 18, 2014, 08:00:17 AM
April 18, 2014, 07:56:38 AM
You ignore the chart indicators because of your belief, and then complain later and ask why you are losing.
I ignore the chart indicators, because I still don't know how to read chart indicators. I'm still learning, so I follow this forum for advice, and then follow the forum's advice not to follow any advice I find on this forum.
I have no idea whether I should be shorting right now and buying back lower. Last time I panic sold, I lost 1/8 of my investment.
No one can "read" the chart indicators correctly all the time because there are too many of them and they more often than not conflict. TERA, who admittedly does not do well unless there is a raging bull cycle, is telling people to do more of what he does. Not sure why.
At any rate, a good understanding of both technicals and fundamentals, a willingness to study the market behavior, and a good instinct is what you should aim for.
My 2cents here. Its not a great place to short. 520 was a great place to short. This market is selling off on low volume into a lot of resistance. Sure it could do this for the next 2 weeks like it did in March, but thats not for certain. A news articles could crash it as well, but there is no news on the weekends most of the time.
I think its a good time to be out of coins into fiat until the continuation (my most likely scenario) of the bear market is confirmed.
I believe that I get what you are saying here; however how do you know when to get back in? Are you getting back in, at some point? $440-ish? or lower? and let's say we get to $440ish, then rally but bull trap? you go based on volume to figure out whether it is a true rally? it is just so hard to tell if there is a whale or two who seem to be selling at a loss, just to drive down prices. You cannot be sure about when that whale is going to change strategies.
April 18, 2014, 07:49:23 AM
Well, for a long term investor, it is really better to not check the charts and the forum for a half year, just like I did last year. Because this price movements are really silly 
Day traders are dedicated, I give them that much. I track major bubble movements and overall sentiments, but some stuff I read on here is from 24 hour chart watchers who seem to make decisions and start drawing lines with every $5 fluctuation in price. I could never do that. I just hope they are successful enough to make it worth their while, let alone not lose their shirt. Seems like a sad way to spend a majority of one's time, especially with nice weather on the horizon (here in Canada anyways, I am hoping).
Successful day traders provide a vital function. They are the liquidity providers, the decentral bankers of Bitcoin. They reduce volatility by profiting from it. They accomplish this without even intending to, by looking after their own interest.
I don't agree with your statement, inexperienced daily traders are causing the volatility, or should I call them "pigs" that jumps in and out without knowing what they are doing, a small price drop (5$) makes them sell and bring the price down and shout "Bitcoin IS DONE, IT IS THE END", then a small rise of 5$ makes them all buy back and yell "TO DA MOON".....
Why should Bitcoin go to wallstreet if wallstreet traders can make tons of money from such unregulated market with all these noobs around ? the moment Bitcoin hit Wall street they will lose this kind of game....take china as an example, anyone farts there the price crash, no new news, they use the same old thing to trigger panic and make tons of money.... I find it really hard to make money the last few months, I used to take a spot and stick to it when we didn't have these Chinese shit around, now it is impossible to predict a direction... because you know "you never know when the Chinese fart".
I agree that some day traders scream and shout a lot, but I don't think you are right about traders causing the volatility. Log term investors just follow a log term trend and they will sometimes just dump/buy a huge amount of coin out of the blue. That is very confusing, but also great for day traders. They quickly spot this and drive the market in the opposite direction.
April 18, 2014, 07:48:59 AM
I've always wondered why you call them "pigs." Going after the scraps? Feeding from the trough? Plain old greedy? I can't figure it out.
April 18, 2014, 07:38:11 AM
Well, for a long term investor, it is really better to not check the charts and the forum for a half year, just like I did last year. Because this price movements are really silly
Day traders are dedicated, I give them that much. I track major bubble movements and overall sentiments, but some stuff I read on here is from 24 hour chart watchers who seem to make decisions and start drawing lines with every $5 fluctuation in price. I could never do that. I just hope they are successful enough to make it worth their while, let alone not lose their shirt. Seems like a sad way to spend a majority of one's time, especially with nice weather on the horizon (here in Canada anyways, I am hoping).
Successful day traders provide a vital function. They are the liquidity providers, the decentral bankers of Bitcoin. They reduce volatility by profiting from it. They accomplish this without even intending to, by looking after their own interest.
I don't agree with your statement, inexperienced daily traders are causing the volatility, or should I call them "pigs" that jumps in and out without knowing what they are doing, a small price drop (5$) makes them sell and bring the price down and shout "Bitcoin IS DONE, IT IS THE END", then a small rise of 5$ makes them all buy back and yell "TO DA MOON".....
Why should Bitcoin go to wallstreet if wallstreet traders can make tons of money from such unregulated market with all these noobs around ? the moment Bitcoin hit Wall street they will lose this kind of game....take china as an example, anyone farts there the price crash, no new news, they use the same old thing to trigger panic and make tons of money.... I find it really hard to make money the last few months, I used to take a spot and stick to it when we didn't have these Chinese shit around, now it is impossible to predict a direction... because you know "you never know when the Chinese fart".
That's why I qualified my statement and said "successful" traders. Noobs only exist to pay off the vets unless they learn before they go broke.
April 18, 2014, 07:33:08 AM
So predictable its kinda scary
THIS part is, but will I get my $340 retest? If it holds on high volume, we can tell the Chinese to reary go fook themselves.
April 18, 2014, 07:28:56 AM
Well, for a long term investor, it is really better to not check the charts and the forum for a half year, just like I did last year. Because this price movements are really silly
Day traders are dedicated, I give them that much. I track major bubble movements and overall sentiments, but some stuff I read on here is from 24 hour chart watchers who seem to make decisions and start drawing lines with every $5 fluctuation in price. I could never do that. I just hope they are successful enough to make it worth their while, let alone not lose their shirt. Seems like a sad way to spend a majority of one's time, especially with nice weather on the horizon (here in Canada anyways, I am hoping).
Successful day traders provide a vital function. They are the liquidity providers, the decentral bankers of Bitcoin. They reduce volatility by profiting from it. They accomplish this without even intending to, by looking after their own interest.
Key word there is successful though. Like I said if it is enough to make it worth your while, all the best of course. I fear there are less of you than what is actually admitted to as is always the case with "gambling", even educated gambling.
Edit. Back on topic- fluctuation! Resume speculating.
I've just been reading up on spread betting cos of Ristos thread.
"According to an article in The Times dated 10 April 2009 approximately 30,000 spread bet accounts were opened last year, and that the largest study of gambling in the UK on behalf of the Gambling Commission found that serious problems developed in almost 15% of spread betters compared to 1% of other gambling.[8] In addition a report from Cass Business School found that only 1 in 5 gamblers ends up a winner.[9] As noted in the report, this corresponds to the same ratio of successful gamblers in regular trading.[10] Evidence from spread betting firms themselves actually put this closer to being 1 in 10 traders as being profitable, with a high number of clients suffering from the volatility that is supposed to be one of the benefits of spread betting."
http://en.wikipedia.org/wiki/Spread_betting
HODL!
April 18, 2014, 07:25:42 AM
Well, for a long term investor, it is really better to not check the charts and the forum for a half year, just like I did last year. Because this price movements are really silly
Day traders are dedicated, I give them that much. I track major bubble movements and overall sentiments, but some stuff I read on here is from 24 hour chart watchers who seem to make decisions and start drawing lines with every $5 fluctuation in price. I could never do that. I just hope they are successful enough to make it worth their while, let alone not lose their shirt. Seems like a sad way to spend a majority of one's time, especially with nice weather on the horizon (here in Canada anyways, I am hoping).
Successful day traders provide a vital function. They are the liquidity providers, the decentral bankers of Bitcoin. They reduce volatility by profiting from it. They accomplish this without even intending to, by looking after their own interest.
I don't agree with your statement, inexperienced daily traders are causing the volatility, or should I call them "pigs" that jumps in and out without knowing what they are doing, a small price drop (5$) makes them sell and bring the price down and shout "Bitcoin IS DONE, IT IS THE END", then a small rise of 5$ makes them all buy back and yell "TO DA MOON".....
Why should Bitcoin go to wallstreet if wallstreet traders can make tons of money from such unregulated market with all these noobs around ? the moment Bitcoin hit Wall street they will lose this kind of game....take china as an example, anyone farts there the price crash, no new news, they use the same old thing to trigger panic and make tons of money.... I find it really hard to make money the last few months, I used to take a spot and stick to it when we didn't have these Chinese shit around, now it is impossible to predict a direction... because you know "you never know when the Chinese fart".
April 18, 2014, 07:23:26 AM
So predictable its kinda scary
April 18, 2014, 07:18:55 AM
Well, for a long term investor, it is really better to not check the charts and the forum for a half year, just like I did last year. Because this price movements are really silly
Day traders are dedicated, I give them that much. I track major bubble movements and overall sentiments, but some stuff I read on here is from 24 hour chart watchers who seem to make decisions and start drawing lines with every $5 fluctuation in price. I could never do that. I just hope they are successful enough to make it worth their while, let alone not lose their shirt. Seems like a sad way to spend a majority of one's time, especially with nice weather on the horizon (here in Canada anyways, I am hoping).
Successful day traders provide a vital function. They are the liquidity providers, the decentral bankers of Bitcoin. They reduce volatility by profiting from it. They accomplish this without even intending to, by looking after their own interest.
Key word there is successful though. Like I said if it is enough to make it worth your while, all the best of course. I fear there are less of you than what is actually admitted to as is always the case with "gambling", even educated gambling.
Edit. Back on topic- fluctuation! Resume speculating.
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