YUPP!! If you have been absorbing ryans posts then im sure that by now you know what ACCUMULATION looks like
If you do, then go look at that bitcoinwisdom.com bitstamp chart and tell me what you see
If you do, then go look at that bitcoinwisdom.com bitstamp chart and tell me what you see
Yes even me I did some analyse to see this one
Right now, the whole market is in consolidation, these little $10K, $5K profits are cool, but just wait a month or two. If you know a thing or two about volume, then you have already prepared your ship and set up some extra padding and support for this tidal wave that's about to come in
YESS i have said myself
I used you guys method to analyze chart and I have seen this volume patterns
i have marked on chart
to me it look like many people dump after all time high to take their profit, but still some people hold because think it will go higher. But these people that hold start dump and a little bit people continue hold
At this period today it look like everyone who buy before big all time high 2013 pump have sold, and now only remain new buyer
to me this is accumulation time
I marked that each dump has been smaller because less people remain to dump
The last dump was not so many people and that one was smallest, no i dont think price can fall any more so ii think accumulation has started now
please tell what your thoughts?
I have marked it all on this chart there
I have said that it looks like everyone that want to sell has already done this so now there is no longer so much people that want sell because all the recent people that invest into bitcoin has done this within this current price range that we have been since January
like you have say this to me looks like accumulation time for bitcoin
but I wanted to ask you people that are smart, how will this effect on altcoin market I think that it will be positive thing?
now price of bitcoin is growing
i know this is accumulation, so price will go sideway for now. but what do you think on this one?
You're right on the mark there, Bitcoin has been moving sideways since April.
I like the fact that you're now looking the chart for what it is, instead of using it as some sort of indication of future events.
Everything you mentioned is exactly what is on the chart: Each time the price has plunged the range of prices between pre-dump / post-dump has constricted, suggesting the amount of interest at lower price points is waning.
Just like with the alts, once there is no sellers interested in parting with their coins at lower price ranges, more and more people begin to hold. Which means the only way for traders to buy in is via the sell side orders, which sends the price upward if trading volume is sufficient enough.
So in answer to your question, if the volume picks up we could see some good movement in the BTC/FIAT side of things
I have been watching for awhile. You guys have been on point quite consistently, especially Ryan
I'm enjoying the straight forward analysis using charts to describe price action instead of predicting, it seems to be the big secret?
Very interesting that I never looked at bitcoin like how we look at altcoins, but after seeing this movement it looks like it's pretty much the same script and a great way to top up altcoin profits using okcoin leverage. So fascinating how many different avenues there are to profit in this eco system
what are you guys thinking about the continuation of this move?