Bitcoin Forum

647-650-653 bounce bounce 647-650-653 bounce bounce 647-650-653.
Can anyone explain me why the price is bouncing a bit around?
Whats the point?

That's just how markets naturally move on a day by day basis.

Maybe you should go outside and take a little break.

The point is that nobody is buying, and nobody is selling, so these figures represent the the very thin spread around the Bitcoin spot price.

I think that Bitstamp won't go up until it has went down. Even when the other exchanges ramp, the selling pressure on Bitstamp has proven a few times too great to be impressed by the leveraged/fake volume break outs on the other exchanges. I suspect that some heavy whales entities on Stamp are after a long squeeze on the maxed out state of the leveraged long positions. Perhaps if they keep a heavy lid on any break out attempt, longs on Bitfinex (which routes trades through Stamp), Huobi, and perhaps even BTC-e, will be forced to liquidate their positions by selling their BTC into market. This  would mean a glut of cheaper coins for the whales forcing the squeeze, if it were to play out that way.

I am finding particularly interesting how Bitstamp never reacted to that Huobi ramp earlier.

That's about a 1% spread, which is pretty standard in a trading market. These sort of spreads represent a few factors that impact trading price such as fees.

As for the relative lack of volatility, things are definitely pretty quiet. But that's not necessarily a bad thing, especially with the amount of action in the last few weeks.

Two forces fighting  ;D ;D ;D

After the huge rally of the last weeks we are passing through some days of consolidation, the value seems stable but in my opinion this won't last long.

I clicked on this because I thought it was a phone number.

The bots are who are like playing with the price in that way, and recently its have been quite, i would say "calm before the storm"

13 days ago I argued that there would be resistance at the 650 level due to the 200 day moving average and other price resistance.

http://www.reddit.com/r/BitcoinMarkets/comments/26ppq1/look_for_resistance_around_the_650_level/

Bitcoins need some days of rest before they can start to climb again.

647-650-653

first numbers makes 666, influence by Satan himself
second numbers make 455, last resistance level
third number makes 753, next resistance level

:P

 :D

and we're stuck

Why did you post my phone number???  NOT COOL!

867-5309  ;D

If you give away any more of my Bitcoin-QT wallet pw I'll have to kill you.  And here I was thinking it was super secure.

It's called consolidation. We're just getting ready for the next leg up  ;D

You, good sir, deserve a cookie.