So do you guys think the bad news about government intervention is going to overpower the good news from china combined with the increase in funds now that banks are open. Theoretically it looks like a time to buy but TA and the order book make me feel otherwise
Government regulation in and of itself is not always bad, and in my opinion is long term bullish as they are basically recognizing it as legitimate, rather than working to kill it. It can be perceived as bad however, which I think could contribute to a down trend. I am about 35% fiat right now, with no plans to adjust that any time soon, may catch a profitable oscillation here or there though. China news is long term bullish, but short term I think it could contribute to a down trend, people will be expecting the price to spike soon, and when it doesn't . . . There will not be any fresh money showing up on the order book because banks are suddenly open. When money comes in, people are going to be quite fine with waiting for a good opportunity to buy, rather than rushing in because it will be more expensive later. I think the days of Monday, Tuesday, Wednesday spikes are over for the time being, or if they come will be pumps with corresponding dumps. People will start to learn the market, and it will stabilize to an extent. There will always be an abundance of newbs for the manipulators to take advantage of though, a stable bitcoin will probably still be very volatile.
As for when a good time to buy is, that depends on what you want BTC for. Generally it is always a good time to buy bitcoin if you are going long, or buying it to spend, just be smart and don't buy into a rally. If you are speculating, well, no one can tell you when a good time to buy is really. You have to watch and learn the market, even then you will probably get it wrong, most of us do at some point.
