WTF is with bitstamp? I just saw 127, above Gox, then 122, then 119..... in 30 seconds...

i have no doubt that many overstate their profits on these forums as well. i mean, it's an anonymous forum...why not?

i mean anonymous to each other -- as in, who would know, anyway?

yeah i would be careful about what i state on the forums when it comes to real things, like currency exchange, for instance.

could there be gags in place for this sort of thing? various threats they could make if he should tip anyone off? i wouldn't assume not.

this. why would they NOT come to Theymos?

i had one bid fill at 75 (BTC-E) and made a quick profit but mostly missed this bounce. 

ready for the next drop!!! 

yes, yes 

how do you know? is there a source for any of this? especially one where they specifically say what was seized -- not the numbers referring to the total amount of coins moved and total commissions over years?

oh dear, this looks bearish. hoping my bids fill at $300-$400.

450 --> 100? dunno, i think 250-300 is good support.

this is starting to feel real bullish. 545 on bitfinex. get on your space suits ladies and gentlemen! i think we are gonna break 550 very shortly. stay tuned....

still looks pretty good for at least another leg up before some correction. maybe im wrong. but it feels good to bullish. sentiment is good, price is on a steady rise..... this summer is shaping up to be better than the last!!

a couple days ago i was pretty sure we would breach 600 and see at least 610 or 620. losing faith in that. this pull back to 590 even though it was almost a full 100% retracement, still looks exactly like a correction. so maybe more down....

actually i am turning a bit bearish here. i think we could see a bit deeper correction than i originally thought. i am not thinking lower than low 500s or high 400s though. but this formation we see currently looks very toppy.

i remember hearing last year that the Thai government, or maybe it was the central bank came out against bitcoin? was there any real legislation or regulation? maybe i am remembering wrong.

i have been very bullish the past few weeks, but with this current top formation and everyone and their mom up in this forum calling for a bubble of epic proportions, i am getting more and more bearish by the day.

i'd say that if we are talking about 7 months, and we are all talking amongst HOLDers, then escrow should probably be used. 7 months is a long chunk of time, especially in bitcoin years.

chart?  

the bounce up from the 550/551 level seems like a correction to me. looks like we might head down from here. what do you guys think?

i am saying that the bounce = corrective in formation. this suggests that the dominant direction is down. it has nothing to do with short term/long term, but rather the formation of the waves.

http://www.elliottwave.net/educational/basictenets/basics3.htm

here is the same formation on a 2hr chart. the length of the candles will not change the characteristics of the formation. will it? i don't think so.

on "noise from trend" i disagree. 15m is the lowest i will use that i consider to have acceptable noise/signal ratio. to each his own. the lines only cut through wicks to the extent that they are minor violations. precision is not the purpose -- to reiterate again, i am looking at the shape of the formation. i have fibs on my regular charts, i do not normally chart on wisdom, but we had tagged .786 before falling out of the wedge, which also contributed to my thinking that more down is coming.

like you said, who knows.

who is ignoring them entirely? it was just sloppily drawn. i find it difficult to see how one could deny that this is a wedge, and that the trend line was clearly broken to the downside.



it seems pretty clear to me looking at this that we retraced the high of 597. that doesnt look bullish to me.

so i'm wondering. it seems many are expecting the next bubble rally to take off shortly... next couple weeks or months. and i am not saying that it'll happen or it won't. but i wonder, for those of you that expect this to come soon... what kind of price movement would dissuade you? what support level, or support trend line, would it take for you to revise your prediction, if broken?

i don't think so. i haven't heard anything about that, as far as banking options being cut. seems like everything just continued as usual. last i heard, all options were more or less still available and the status quo hasn't changed. puts a nice cloud of mystery over the whole market....

this is just a hunch. but the PBOC doesn't seem to like bitcoin to get too volatile, hence the earlier announcements from some of the Chinese exchanges that they would cut out margin trading (among other comments from people like Bobby Lee). so i think if BTC does start to bubble up, PBOC might have something to say about it. then, we'll see if bitcoin cares.

oh well. my thinking here is that it's probably for the best that we don't start conflating facebook with bitcoin. let's get these folks off on the right foot. just a thought. 

meh, okcoin got caught faking volume did they not? i don't take volume on any of the Chinese exchanges seriously, and okcoin i would ignore more than any other.

i have a nagging suspicion, though, that there are many western traders on Chinese exchanges. i've seen a few people in the tradingview chat that have said they trade on huobi. i'm sure there's some around here who do as well.

yes, i don't think anyone thinks that mainland China is an ideal place to headquarter a bitcoin exchange. i am sort of excited to see huobi's english language platform. might send some coins over there when they become more internationally accessible.

i was thinking we might tap this 630 line again and drop, but we keep hanging here above 620. it's starting to feel kind of bullish. then again, i've been trapped this way in the past...

bitcoin is looking pretty bullish with this triangle consolidation. rule is trend continuation, usually, and it looks like we are poised for a breakout from the triangle at around $660. then retest and $680 and then onto $710.

yes, this is one whale that really wants to push the price down. but i think he will not be able to push too far. we failed at the 50% fib of last major move, now resting at 23.6%. it's not bullish. there should be one more leg down or a retest of the low. then we have a real bounce. so i am looking at 550 or lowest 520s.

i'd absolutely love to see a 10k ask wall right now. but this time it would just be too obvious that an insider was unloading his whale stash... then i may have to revise my 520-550 targets...

pretty good one, imo. well played, fonzie.  

imo, bitfinex traders are absolutely insane. with this decline, just as the last from $680-$610 area, long swaps are only increasing. still at ATH now, $26 million. i know not all need to be entered in a position, but that is an incredible amount of margin that is holding out for a pump now. could get squeezed.

why would Chinese coins be sold on Stamp, rather than on Chinese exchanges, or Bitfinex? it does seem like the selling is concentrated at stamp -- Huobi and Bitfinex are staying well above it.

that's partly what bothers me about Bitfinex, and the fact that they now don't seem to route orders through Bitstamp. they don't have nearly enough order book liquidity to sustain the massive amount of margin lent out. (and much of the book will vanish, as they are margin orders propping the market, not orders meant to be filled -- if you watch Bitfinex, there is no denying this)

in the short term, i think you're right. but i still think there is a leg down to make, retest the bottom or make a higher low... test this area so bulls are comfortable there is support below, and then we can get to $700-800 i think.

the higher low we put in on stamp + the lower low on bitfinex w/ bullish rsi divergence = the bottom is in for me. i went all in in the $550s when we woke up this morning. just saw the first breakout of resistance, now consolidating for another leg up, IMO....

i think the low in 3660 zone huobi is bottom of C in ABC from 3840 top. shows a minor 5 wave within BC, very much RSI divergence up to hourly time frame. it looks like bottom to me. back to 610 BFX imo, then maybe consolidate and push for a new high.

LOL! libel -- good luck. and i'm sure you know that no court would ever force anyone to pay a debt in bitcoin.

and BFX is the shadiest exchange around. they are obviously incompetent -- buggy code, laggy engine, orders that don't execute, constant API fuck-ups -- and have a stated policy to FUCK OVER traders to save lenders. and now no bitstamp liquidity too -- so lenders and traders are even more unsafe now.

if any exchange is going to collapse, and i'm sure one or two major ones will in the next year or two, BFX is definitely one of them. that time bomb is ticking. just look at their horribly coded platform, and ask yourself if you trust them to hold everything on account. they are incompetent, if not MUCH worse. obviously any speculation on front running/stop hunting by BFX insiders is conjecture, but i would not be surprised IN THE LEAST.

and aminorex, why do you care, anyway? what good things could you say about BFX that could possibly outweigh the bad?

i think it could be quite some time before that case is dealt with, and before those coins could be auctioned. surely, the 144K will appear quite large, but hopefully by then, there will be lots of players waiting to get in off-exchange, slippage-free.

we're coiling, squeezing for a big move for sure. i am leaning bullish, but i'm not gonna lie. little bit nervous. tempted to take a little profit just in case but nahhh, i'd hate to lose any coins at a time like this.

is that a serious question? if so, consider the title "Automated posting", and then, consider the fact that you are asking a bot if it's a bot.

not much of one, i guess. back to 633 already and no volume. i think we are heading for a volatility squeeze in this zone, and my money is on up. onto the 666 level!

hack/exploit looks to be the case. however, i'm not sure anyone will really take notice. tbh, i thought CampBX closed a while ago, didn't even think they were still around. either way, they aren't that relevant -- all 132 BTC that may have been lost.

i'm hoping this is just some normal choppiness with a few weak hands getting shaken out before liftoff. i'd hate to see a retest of the $60x levels again, not sure how they'd hold up.

of course it never ends. the market ranges most of the time. so it is back and forth (vs. a strong bear or bull trend). the expression (same as the beloved "bear trap" ) just means we're going up, and that some people are selling the bottom.

kind of thought we were gonna form a double bottom around the 3560~ low. still possible, but not really much of a bounce to be found...

there's so much manipulation in this market. i gotta stop letting the whales get in my head. i mean -- is this guy accumulating on huobi? or is trying to get us to think he's accumulating?

 

LTC is very dangerous right now. while a short squeeze is possible, i think it's more likely that the top is in for now. if 31~ CNY support falters, i could see a steep fall ahead...

choppy chop whipsaw land -- that's where we are for now. short term traders are getting slaughtered, if i had to hazard a guess.

daily was neutral, now threatening to lean bearish....

ahhh, daily candle close! bitstamp has formed a bearish gravestone candle. bulls pushed it up and got smacked down in the end. this does not bode well for the short term, bulls.

i'm noticing some people around here remark that BFX is leading the market. i think that's crazy. if Huobi sneezes, BFX jumps off a cliff. welcome your Chinese overlords with open arms already.

interesting, hadn't noticed the new poll. i'm in the "we need a capitulation to rally hard" camp. i've seen these slow bottom fishing expeditions before. the bounces are so weak and can never retake the lost supports. i'm not buying back in yet.

same, generally, but the time part is so hard to nail down. it's impossible to get the short term details right, but everything has been pointing for me to that general range. we could bounce a bit, hell, given all the shorts taken out at 400, we could bounce 30 or 40 points, but i think low-mid 300s are coming in the next couple weeks.

while i am still generally bearish, i do see a bit of short term bullish momentum developing here. having trouble posting an image from my phone, but 15min RSI and MACD showing hidden bullish, and looks like 23.6% is holding. could be a leg up here.

even though the bulls look pretty weak, i think we can expect somewhat of an upside correction over the next couple days. the bear momentum fizzled out. i don't think we'll get too far, but wouldn't want to be opening shorts here.

yeah, i suspect they broker deals off exchange. but it's also hard to say when off-exchange demand is drying up. maybe it is, maybe it isn't. at some point, bitpay may still have to dump on exchanges.

more likely the whole fiasco just shook up people's confidence even more. after this sideways correction plays out, lower lows will come imo.

meh, i think btce is fine. certainly feel better about them than the chinese exchanges, or stamp. they've always acted honorably IMO, and their trading engine is top notch.

can you treat it like a bank? well, no.