everything looks all bullish and rosy, that's all good. we see.

i thought thursday was crash day. where is walsoraj? he would know.

Huobi dumping just a litttttle bit. Not enough to get anything started IMO.

Seeing a rising wedge here, with one leg up to make. That's usually pretty bearish, isn't it? But both bulls and bears are looking pretty weak.

It looks to me like Huobi is forming a nice base at the 50% retrace level off the recent top. Bears can't get any momentum going.... launch soon? Well, I hope so.

That buy on Stamp got my hopes up. Guess it was just a little fakeout. More down incoming?

That's what it feels like -- we're headed towards capitulation. Well, I'll tell you this, I'm not selling. I missed my opportunity to sell and buy back already. You bears won't be getting my coins cheap!

I don't see any time frames 15-minutes or above that are oversold. Daily has lots and lots of room to fall. I'm holding for now, but I'm looking for a good exit. Lower time frames show bullish diverging, so I think we'll bounce soon, but I don't expect much really. I'm gonna sit out and buy back in when the daily chart looks bullish.

We're just in a sideways consolidation, but still due to the downtrend on longer term (daily +) charts, the bias remains down until we break upwards. A triangle can still be drawn on Bitstamp's chart, but on Huobi, it's already broken. But still.... sideways....

Momentum hasn't picked up too heavily yet, but I suspect it might. We kept pounding on that 3100/500 level until it gave in. I think when we bounce next, it may become a strong resistance. We'll see, but it looks like there is more down incoming.

3000 broke on Huobi, but there is some mid-term support right below. Bounce here? Bear flag maybe? I can't say the chart looks bullish, but maybe the bleeding will stop for a little bit.

Absolutely no reason? How about the lack of demand? The hodlers are doing their job, but there has to be real demand on the exchanges to market buy the price up. We've seen no sign of such demand in months now.

If this lack of demand were due purely to investors not wanting to deal with exchanges, that would be one thing. But SecondMarket doesn't give me hope of huge off-exchange demand, and more merchant adoption continues to keep additional sell pressure in the picture.

Wow, I had not seen your flavor of trolling for some time! Glad to know you are still at it. So tell me, what are your thoughts on Stellar? How do you feel about Jed being a perpetual XRP dumper who has now forked Ripple into a new project?

I hadn't even thought about that. In the scope of things (from this point), we could be in for more downside only in the short term. I still think mid term reversal is possible. If $500s are gone for good, yes, you are right. It will be a ride, alright....

Why would that be the case? Some miners/groups, I would think, have sources for cheap miners and cheap/free electricity. Don't you think there are miners whose margins can go much lower than this? Maybe I am missing something.

 

Thought we might see a short squeeze tonight.... started off swiftly but it seems we got rejected at short term (1hr) EMAs.... bears too strong here? Maybe we need more down first before a proper bounce.

The infamous DanV of Tradingview recently drew a Bitfinex chart where he predicted $100~ ... I think that is his lowest prediction yet. It's not Prof. Bitcorn level apocalypse, but it's getting there. Too bad I didn't save the link....

Well, I suppose in 2011 it went from $32 to $2. I know, I know, different time, different fundamentals. But while things are looking good for the fundamentals of BTC infrastructure (start-ups, merchants, funds), short/mid term price may be different entirely.

Hypothetical: How do you think people will feel if we break below $260s? That never happened before (breaking below previous ATH). If people start thinking "bitcoin is dead" for real, you might be surprised what they are willing to sell for.

Do you see what you did there, though? You straight up assumed that $340 was already the bottom. Why? We're still in steep downtrends on the daily and weekly charts. So the point still stands, IMO.

Heard it at $550, $500, $400, so on.....

Nice jump by litecoin today. Wonder if we might see a similar move by bitcoin soon. Still think the long term bear market is with us, though. But not shorting this level, for sure.

Price hovering at $266? This does not bode well. Maybe we'll pause/bounce but I'm pretty convinced we haven't seen the bottom.

Sounds good to me. I think whatever happens, we need to go sideways for a long time and establish a strong support below before we'll be able to establish a new uptrend. This long, drawn out downtrend has created quite a lot of resistance above. We need to make a long term launch pad for the rocket.... maybe from $100s or double digits though.....

At this point, I'm much more concerned about Okcoin than BTC-E. Some of the stuff that's been coming out....

Its 289$ today, and it will go down a much more. Actually I want it to go down much more so I can put more of my money in btc at much more affordable price After 3 months, the btc price is going to shoot real high and you don't want to miss that train man. I have been waiting for this from a long time and I have my patience game strong at the moment haha