this bull trap is supposed to end soon, like duh

Just another little bear trap, BFX dumpers selling at the bottom. 666 very soon.

Agree, though I think it's possible we get down to 580s or even 570s before this gets pumped again.

gonna pop up soon. get your seatbelts on and prepare for liftoff.

gonna pop up soon. get your seatbelts on and prepare for liftoff.

ask walls are high, but that can change in an instant. the big players are always manipulating the order books. once these bear whales have accumulated enough, the walls will likely evaporate.

ask walls are high, but that can change in an instant.

I hope you're right. Thing is, it seems like BTC makes these bounces that break the short term down trend, so you think it's bullish, but then it slumps for days and then eventually just seems to roll over....

LMGTFY -- agree. They don't say "nothing will exist outside the state." Not at all. The idea is that once we live in a classless society, the state will have no utility, and no reason to exist. In other words, they want the same ends that anarchists do. Now, whether practice follows from theory is another question.

It's starting to feel like we're gonna keep testing this level until it falls. Hate to say it. I wonder if this will be like "the last time we see 500s again" -- except in reverse? I guess we'll see who among the hodlers can really hodl.

Some nice manipulation walls on Bitfinex. They'll disappear in an instant if the rest of the market moves up. But for now, the trend continues down. This is a bit painful to watch tbh.

Whoa, were those walls entirely eaten on Bitfinex? Or partly pulled maybe? Looks like a lot of volume on Wisdom, but didn't manage to catch the action.... what happened?!

Here we are at this 2940ish level that we were at last night. Can we break it this time? Strange time of day to try to break the resistance (China sleep time )...

But I'm sure you've noticed how the markets consistently go dead every day around this time for ~ 8 hours or so. Have you not?

 

Yep they are nom nomming in their sleep it seems! Now we have a mini bidwall at 2950, but not sure how long it will last. Not seeing any crazy panic buying yet.

Edit: so much for that mini bidwall...

I wouldn't say much is going on. This is all very low volume, and Huobi actually looks to be forming a rounded top. If we don't see any panic buying very soon, I think we will pull back.

That may be, but in the short term, this hasn't turned bullish. Every bounce has been a fakeout, just a short squeeze. No real reversal.

Not that I wouldn't love to see reversal....

I am waiting with bids clustered around $200 and $130. If I miss, and we look to be beginning a new uptrend, I'll jump on the train then. I just don't see any reason to jump the gun. We're teetering on support, and it's unlikely to hold, methinks.

Maybe we'll have a Gox-like inflation on Bitstamp upon reopening.... but this time, traders on other exchanges may not follow such a rally the way they did on Gox last year.

Is there a thread that discusses the Bitstamp hack at length? What are the facts that we know?

I think that well-positioned miners are still making very good money selling at this rate. Casual miners in the west -- not so much. But established miners with good access to new generation chips and cheap electricity (in China, etc), I believe can still be profitable. I remember seeing numbers thrown around, but cannot recall them now, though.

I saw some mention of them running bots on the exchange, and there was that time when most of their top executives jumped ship. But I haven't seen much concrete evidence of anything yet.

Well, not for nothin, I heard a few people on the TradingView chat call it OKGox. I guess there is some speculation about their solvency after the stuff that came out after the Ver dispute.

Not sure what to think here. Off the lows, there actually looks like there is some strength to this rally. But we are also approaching the 232-238 high resistance zone. I'm not confident in any rally until we are firmly closing candles above 238.

Why do you speculate that a Chinese miner dump will happen? Because of the block size / gavincoin controversy? TBH I think that is all getting blown way out of proportion.

Hmmm, candles are curling down now... some sell volume coming in on Bitfinex. I think there is more to this dip incoming. Gonna wait it out before I buy more BTC. It may have to retrace the whole rally. Waiting out LTC for the moment too.

Yeah, it's been driving me pretty crazy. I figure with this tight range, we are bound to have a *big* breakout (direction unknown). And I don't want to miss it. So I'm definitely watching closely to make sure I can get decent position.

Yeah, and all of a sudden, the order book is fully exposed -- as never before -- so we can see that the bids are entirely filled in back to 1500. Very suspicious. All these wicks on Okcoin tell me liquidity is leaving. And with all the strange rumors about Okcoin and their "market making", I have to wonder if those bids were filled in by the exchange itself....

I'm pretty sure those with real money in Greece got most of their assets out of the country quite some time ago. I've heard they have bought up quite a lot of real estate in Berlin, for instance.

If you got money, you think ahead. And yeah, they aren't buying bitcoin.

What makes you think that? My thinking has been that the breakout this month of BTC and LTC are (hopefully) signalling the return of volatility to these markets.


All I know is that alts have been pumpy for months now. And LTC lead BTC on every leg of this recent rally. Much bigger gains than BTC too. So maybe it's just a pump and dump for the halving... but we will see.

Hmmm, retesting 1500 CNY again here. Price is dripping a bit. Another dip, then? I have no position here. I'll be watching the 235-236 and 227-230 areas for a good bottom. Then, with any luck, it's time for BTC to go to the moon.

Looking like it, yep. Bulls look really strong here, and this rally from last night is starting to look parabolic. This could continue for days, torturing many bears with those bearish divergences that get broken every time. Can you tell my space suit is on?

We keep tappin' on that $300 resistance (well, not quite ) and can't seem to break it. I'm seeing a big assortment of Cup-and-Handles being drawn on Tradingview from the $315 spike to now. Is it time to retrace and form that handle?

Any targets?