The sell wall to 8,5k is HUGE

https://www.bitstamp.net/market/tradeview/

It's about 1500 BTC from 8250 to 8500 ....

... normally we have this from one thousand to the next.

On Bitstamp yes.

My point is just that normally if 1500 BTC are bought we rise 1000 USD and not just by 250 USD ;-)

Yes bro! My favorite after Bitcoin. There have been hard times with the distribution model but, hey, so far so good. One of the best projects around.

Back to bitcoin, i bought some more. 19th of every month is my bitcoin buying day

Maybe you misunderstood me: I don't sell, I am buying only and increasing my war chest. There's no point selling so cheap. I have much higher targets 

Due to it's deflationary and borderless nature, central banks will eventually be forced to hold BTC as a portion of their currency reserves.

This battle is already over, there is just a great deal of hand wringing and gnashing of teeth that has to happen before it becomes obvious,

Alts dumping hard. Im happy to watch mine bleed out as long as btrash dumps harder though.

Its more exciting watching that crap go down than watching BTC go up.

On the 1h we look to be entering a consolidation zone. I had thought this rise would coincide with the weekend but Bulls appear to be ready to test resistance at $9.3k.


As we step back and look at the 4h chart, testing $10k this weekend looks like a possibility. #dyor

@infofront    Thanks man..the sarcasm aside, I am quite honored actually. 

I see the h&s on the 24 hour but that looks bad? Is there another one on a larger timescale?

Yeah of course, a correction could come at any time, so one thing would be to close longs along the way (which means selling) and another thing is going short (which means going on margin, and is a step further than some folks are willing to go).  Personally, I don't mind selling small amounts on the way up, but going short is playing a bit harder ball than is within my bailiwick. 

To be more specific, I could see breaking above $10k, by 10% or even 15% and then correcting below $10k,,, but who knows.. $10k could become a new floor, also, as others have postulated that possibility, which is not unreasonable, either.

I don't have any issue with what you are saying, and it comes off as reasonable; however, I also have difficulties attempting to assign any kind of level of certainty to anything beyond one leg.  Or maybe I could reasonably assert something like, there is a decently sized possibility that prices will break above $10k in the coming day (perhaps 63%), and once prices break above $10k, if they do, then the odds are greater than 75% that they are going to appreciate at least 10% above $10k.. the odds of those two together seem to be .63 x .75, which is only 47.25%, so once you start to add up events, the probabilities begin to trickle way below 50%, and maybe I am even assigning too high of percentages to the preceding events, so I start to worry that I am speculating way too much if I try to string along too many events at once - even if I have a vision in my head, I become reluctant to say my vision out loud because there are too many contingencies that end up lowering the probability of that outcome by a considerable amount, even though I view my scenario as the most likely of scenarios, it begins to trickle down to the 1/3 or below territory, so it becomes more likely that I am wrong, even if I am picking the most likely of the then available options.  I hope that makes sense.

And down again.

The wall to 10k is too strong atm.

Aren't you splitting hairs when you attempt to assert that $8k to $8.2k has not been tested in recent times?

During the weekend, BTC prices dipped down within the $8,208 to $8,286 price range three times, and with decent trade volume on each downward push.

To me, those seem like tests of price support, and sufficiently close enoug to the lower $8ks to be tests of that range.

Now, sure getting to the very bottom of that range might be something that is being attempted, and could be useful in determining that prices are ready to resume the testing of upwards resistance in the $9k to $10k arena...

I doubt that it is reasonable to conclude that we are manipulated, even though there could be bearwhales who have some coins stacked up that are waiting for some stronger "down" in order to dump their coins, and pray for success.

Aren't some of these seasonality cycle narratives a bit ridiculous?


Sure, I do not mind seeing the various comparisons as a thought process, yet frequently there seems to be way to much attempt to hype a cycle as if it exists, likely pumps or dumps every year at certain months, too... the latest of which was the suggestions of pumps at the end of the calendar year and dumps at the beginning of the calendar year.

Part of my point is that there may be some of these kinds of coincidences, but the reality remains that circumstances surrounding bitcoin are changing all the time, and there may be momentum in one direction or another direction at any time, but bitcoin is never at the same point in a river, at any time, even though the upcoming curve might seem similar.

#/take these bitcoin seasonal cycle claims with a decently large grain of salt/#

Here's an interesting observation I made

there's a support trend line that dates back to October and has 6 touches ever since then, and the recent drops to 6k and 6.6k line up perfectly with it - if the price heads down towards it these days they'd meet around 6900


this is the weekly timechart btw
https://screenshotscdn.firefoxusercontent.com/images/a8c106a1-bda7-4214-bacd-e458ee6410a6.png