Re: rpietila Wall Observer - the Quality TA Thread ;)

i agree with rpietila in a way i think there is also chance we go up from here but what about China rpietila don't you consider China ban being a huge dent for the short term? Also are you recommending people buy at this current price?

I am fed up with everybody panicking, and this is realistically a sign when the bottom is in. China "ban" is an absolute nonevent, it was around longer than you have had an account. Yes, I do recommend buying because this is the bottom, any questions?

Once the legacy banking system starts breaking down again; sentiment will change and bitcoin will be hitting new ATHs.

I think this is a very important statement which is often forgotten in the noise. Bitcoin is a novel monetary system and when the current system starts cracking up then bitcoin gets steam (like Cyprus last year). The fact that teh current system has been relatively stable for almost a year now and despite that bitcoin has gained momentum is a very strong sign. If the current system starts showing it's ugly face again bitcoin will see new highs. I'm certain of this. The question is how much longer can the current system go on without any cracks at all. Armstrong says fall next year but that's when s*** really is going to start happen. Until then I think it's fairly reasonable we could see miniature events that propel bitcoin.