Quote from: Afrikoin on June 13, 2016, 03:50:29 PM

Quote from: lebing on June 13, 2016, 03:03:36 PM

I am quite skeptical of elliot wave at the moment because China does what it wants. Any technical selling pressure from charting whales in the west will be just scoffed at.

IMO we are going to see a run up into 5k+ and when it crashes much of the pressure will be alleviated into altcoins this time rather than into USD so the violent nature of the previous returns to earth will be a lot flatter and take a lot more time.

China is a well orchestrated FUD. If you can't see this, you havent been following the fundamental news (as a trend) from as far back as a year out.

My 2 cents.

This rise seems highly coordinated and perfectly timed. Everything seems right. But in essence, not much has changed about the Bitcoin fundamentals. Sure, we've had some impressive CSVs mining votes,, but still, no soft fork and no hard fork (both necesaary in the medium term).

I wasn't talking about China's falling yuan pressure, I was talking about China buying through Huobi and OKcoin. They have been driving this rally from the start.

You won't get any arguments from me about the fundamentals not changing. But China does not listen to reason. If they did, they wouldn't have started buying in the first place.

We are going to see insanely backed up mempools and overall nastiness which will eventually bang some reason into china's head about the reality of the situation (which again will cause more buying into ETH as bitcoin falls)... but I don't think we are anywhere near that happening just yet.