Bitcoin Forum

;D

i know you like this kind of threads after a rally, just relax, business like usual bitcoin price go up and down, it never ends

everyone awaiting the 1st April Mt. Gox 1 week half price commission sale before doing their business, be it up or down

http://upload.wikimedia.org/wikipedia/commons/thumb/0/0f/Plane_crash_into_Hudson_River_%28crop%29.jpg/260px-Plane_crash_into_Hudson_River_%28crop%29.jpg

Is this a Dump and Sump?

as opposed to a Pump and Dump.

Tomorrow is going to be a huge day... up or down.


half price fees.

Just a guess. But is the BitCoin economy based on traditional currencies or BTC?

If it is BTC, then people will buy BTC for slightly cheaper BitCoins.

If it is USD/EUR/etc... they will sell BTC for greater profits.

Or a combination of both and stay the same.

Let us see which way it goes.

Notice how they always forget the decimal point/comma just so they can have an upside down 666 on silver? :D

It's April 1st... where's the volume?

april fools!

lol crash , a selloff with a discount on fees!! april fools

lol

Price goes up, Price goes down.

You can't explain that!

was that mostly placed before, during or after the spike up to break $5 did you happen to notice - I would expect quite a bit just before but only guessing as I wasn't watching bitcoinica

Inside knowledge or stampeding sheep?

yep

Maybe a good time to go short, that is IF you have enough capital, because I don't think any down moves will be very large or significant.  Better to use the opportunity to pump up any longs, that is in the case that we move down to the 4.6-4.7 ...  I personally don't think we'll breach 4.55.

But:  If it dips below 4.3 ... Pump up a short hard if you can.  Wish I had more to play with ;-P

we call it stagnation

I guess this Easter won't be like the last one. 

http://youtu.be/8gw-aZ-mFpI

What a surprise  ;).  Too bad the previous correction never got a chance to finish, it may have gone lower but it would likely be rallying by now.

Rally time.. *puts on rally-cap*

You're gonna look silly at the party with that hat on.

I am all out of  tinfoil.

I wouldn't be the least bit surprised to see the price touch $2 again this year.  :P

I reckon we'll see some extreme price volatility around the 9th of December (approx.) when the block reward is halved.

I’m not going to trade this. I don’t care if it goes back to the 3s.

Is that when shit starts hitting the fan?

Not surprised.  I'm staying the fuck away from this.  Sharks are out for blood and bitcoins.

Exactly. Have a look at https://bitcoinica.com/pages/interest and see -0.1 for shorts, the lowest it’s ever been.

Some Wall St. sharks are trying to depress the price (probably them who set the wall up in the first place) to accumulate hard is what I suspect.

 Bitches.

Fuck no.  I'm not playing at this short term game anymore.  Over the past year I've snatched up more bitcoins than I'll ever need and I don't want to risk losing any of them.  Crash the price.  I simply give no fucks anymore.  I've paid back my initial investment already.

I am always amazed how proudhon has transformed from his condition in fall/winter …

Amazing, eh?  I hope he doesn't go back to that condition...

Wouldn't that be the ultimate bullish signal?

G'night everyone.  Enjoy the show.

All the way to $4.6 and back.. was that the shitstorm you were talking about?  :P

Myself, your "Rally!!!!" thread seemed to get a lot more responses in a shorter time than the "Crash!!!!" thread. Were you able to get any useful findings about bullish sentiment? Or is it all a bit contrarian? :)

Well at least we can find out if its made of cheese or not!!

Couldn't have said it better myself... than myself  :D
However, I am NOT looking forward to the "fight" part of this process...  :-\

Right now Bitcoin has an underdog mentality. But at stage 3, who's blocking who? :D

SOOOOOOOOOOOOOO fucking 2011
FTFY  :D

Where's the 50:1?  Bring it on  ;D

UP????  ;D

I know.  Isn't that awesome!

It is struggling with 4.90 isn't it?

We're crashing
http://i0.kym-cdn.com/photos/images/original/000/167/470/sparta-car-crash.gif?1314495678

short squeeze any moment now

Bounce

what a lame selloff by one guy.

My prediction: even less panic than during the previous sell-offs, possibly a strong rebound afterwards. Short squeeze is possible as well I suppose.

You guys and your short squeeze messiah.  He isn't coming.  

I bet that's what you said last time too...

Totally agree.  I think this move will end up being the start of a decisive move out of the trading range we've been stuck in, and I don't think it's going to be a move up.  This (http://x.mensnewsdaily.com/2012/05/bitcoin-report-a-breakout-warning/) was the most bearish thing I'd seen in a long time and it convinced me that I ought to stay in cash.

Sorry, I wish things looked differently, but I think the remainder of 2012 and into 2013 will be quite depressing.

Dave says no.

THAT is your reason?

this last selloff was clearly a manipulation move by one player and it's already failed.

the gold and silver crash is continuing right as we speak.  where's all that money going to go? 

It was a lame 'crash', but at least it let me hit my buy order at $4.85 and sell soon afterwards for an easy profit.  All is good as long as people don't do something stupid like panic and drop the price much further.  I wouldn't like that  :D


I wouldn't call the current gold/silver action a crash.  Where's all that money going?  Repaying debt and another gambling, I mean, trading losses.  I'm pretty confident in saying virtually nothing is heading towards bitcoin.

+1

i wouldn't be so sure about that.  the general risk asset selloff is going to be huge especially after what's happened to JPM tonite.  yes, the USD is going to go up and UST's a bit.  but traders HATE being in simple cash, as in USD's, and they're increasingly hating UST's.  there's no return and they are in fact risky. 

i'm pretty sure the smart investors, especially the one's who've been in gold/silver, will take a flier on digital cash (Bitcoin) that has huge upside potential.  after all, it's worth 5 times one USD after just 3.5 yrs of existence whereas all other fiat currencies are close to parity.

I'm sure this is true.  This is why there will be QE3 and once QE3 happens, next year I guess, then there will be a long slow rise in gold to over $2000.

Someone better start buying or this baby is gonna be at 2 again..

Whew!, for a second I was worried ;)

I'd say the price is holding quite well.

On the bright side, Bitcoin will be getting some more exposure.  ::)

He was talking about this thread.
https://bitcointalk.org/index.php?topic=80126.0

Meaningless. Japanese yen is worth about a penny, therefore it is automatically a bad investment?

I've never posted in the Crash!!!!-thread before... let's see what happens next...

Time to get out your shorts...  Or you are hopping on the short-bus?

I have nothing to hedge and I don't short for fun.

there was some miss leading on the last report. some successive drawdowns were treated as different drawdowns, that's not appropriate, just as shown by bitcoinbitcoin113, from 10/17/2011 to 10/19/2011.

new report is here:

https://bitcointalk.org/index.php?topic=74890.msg981973#msg981973

Here you go:


http://i48.tinypic.com/ay1vmp.png

Some of these greedy Bitcoinica fucks are getting 50% of their funds back. Predictable.  ;)

something got messed up in the above charts... the timepoints don't add up but whatever.

It does look messed up ;)
What about compiling a graph that show the largest crashes as a bar chart by total or relative drawdown and that has on top of each bar a pie wich indicates the duration of the crash. A full pie means 7 days (the highest duration) and an empty pie means 0 days.
Do you get me?

http://img594.imageshack.us/img594/1695/unbenanntis.png (http://imageshack.us/photo/my-images/594/unbenanntis.png/)

That looks like what could become a classical Shoulder Head Shoulder formation, even with a small version of itself in the head section. Just watch out for the indicators! (lower highs and lower lows). If it does unfold like this the best opportunity to get of board is on top of the last shoulder. In my example a final drop to the 5-5.2$ area would be the result.

Hm.. There were always a gigher high and higher lows. To speculate on a head and shoulder its to early. To speculate on this there needs to be a low at 6 and a high at 6.5. Before its to early to speculate on this.

Something like this.

edit the data.

1. treat successive drawdowns as a single drawdown, but not different ones.

The largest 20 crashes on mtgox trading history.
as of 2012-6-22

During every "crash", the daily performance should be always negative. "Duration days" mean how many days that the mtgox price drop without a daily bounce. For example, at the end of 2011-10-19, the mtgox exchange rate lose 60.3% from 2011-10-12, without a single daily positive daily performance.

the drawdowns are caculated in natural logarithm, drawdown=ln(p_t/p₀)

use only the "close price" only, which ignored the highest and lowest price during the trading days.

anyone please make it a table on this forum? I do not know how to use it.

#   End of the crash   Drawdowns   Durations   Pre-crash close price   Post-crash close price
1   2011-6-11   -70.3%   3    29.60     14.65
2   2010-11-9   -61.9%   3    0.39     0.21
3   2011-10-19   -60.3%   7    4.15     2.27
4   2011-8-6   -49.5%   2    10.75     6.55
5   2010-7-22   -45.0%   1    0.08     0.05
6   2011-9-10   -40.9%   3    7.19     4.77
7   2011-8-3   -37.9%   4    13.53     9.26
8   2011-5-20   -36.3%   4    8.03     5.59
9   2011-11-14   -32.7%   3    3.08     2.22
10   2012-2-16   -32.5%   6    5.91     4.27
11   2010-11-30   -31.2%   4    0.28     0.21
12   2010-12-5   -29.4%   3    0.26     0.19
13   2011-8-26   -29.1%   3    10.94     8.18
14   2011-9-17   -24.2%   5    6.08     4.77
15   2011-9-6   -23.0%   4    8.64     6.86
16   2011-10-8   -22.8%   7    5.03     4.01
17   2010-11-16   -22.4%   2    0.28     0.22
18   2012-1-17   -22.3%   2    7.00     5.60
19   2011-11-18   -22.2%   2    2.56     2.05
20   2011-10-24   -22.0%   1    3.17     2.55

Looks like this thread was bumped to the top just in time.

http://i49.tinypic.com/2j3gvox.jpg

Buying at $5.xx and selling above 6.50 is damn good too.

lol, we r goin down!
Next stop: 6.20-6.30$

Quick, everyone do the same thing!

Remember that orderbook flipping I talked about a day or two ago...

Panic makes selling too hard, what makes late seller loose cause early sellers rebuy
Just for your information
So im happy if you sell me coins for 6-6.3

Oh, I'm absolutely not selling.  As I've said before, I don't have a single coin in any of the exchanges anymore.  It's all offline paper wallets, and small mobile wallets for me.  When I do buy, which I'll probably do again in the next few days, I immediately send the coins to an offline wallet.  I'm just stirring the pot a bit, and watching the show.

So, you're mostly doing what is known as the ultimate problem of Bitcoin: hoarding.

Bitcoin trading has been different than before. If there is going to be some crash( and I think will), the drawdown will be quite smaller than before.

Did I say that?

A question that time and time again crosses my mind:
Does the volume on bitcoincharts.com actually reflect only one side or both sides of a trade?

Lets say I sell 10 BTC to you and you buy it from me, does it reflect on the charts as a volume of 10 or 20 BTC?

one side is BTC another USD or other currency, so each trade registers BTC/USD,etc volume; if you trade 10 BTC it's 10 BTC plus whatever other currency was used that make up volume

Hmm that sounds even better then what I thought of!

But it still ocurrs to me that they always display more volume then has actually been traded. Just watch any big moves for 1 hour and afterwards compare your results with bitcoincharts.com. When for example a big wall of X BTC gets eaten, it displays 2times that amount on bitcoincharts.

Why hoarding is a problem? Is hoarding ultimate problem of gold too?

lol holy shit the last time I checked (maybe a couple weeks ago?) we were at $4.9X.  If $6.20-6.30 is considered ”down” now, then I hope we crash and burn lol

+1

Is hoarding ultimate problem of USD too? Warrent Buffet said he is always holding more than 20B USD!

So that's why the economy is in trouble.

No, it's not because the hoarding that the economy is in trouble. "Hoarding" means people treat the capital, behind which there are economy resourses,  in a very serious way. Over consumption, over debt leverage and over stock investment is source of today's economy trouble. Economy resources have been wasted.  If there are more people "hoard", the economy resourse will only be put where value is created.

What I am doubting with, is not the "hoarding is a problem", but whether bitcoin will really make people
"hoarding" the money? People put money into the Pirate40 HIY program and other ponzi schemes in the bitcoin economy, are people really hoarding the money?  I don't think so.

I was just kidding, BTW.

OH SHIT! I just discovered, that I had all my funds sitting at Gox in BTC! Luckily converted them for a "good" price back to USD.
Alright, Im set. LET THE CRASHING BEGIN!!!

The market now is starting some turbulence. it will be a very small wave during the bitcoin history, but I think 10% profit is huge for every Spekulatius.

If someone can just avoid half of the largest 20 crashes in the history, he will be 1288x richer than he always hold the bitcoin.

just don't miss the 20 largest rises...

a 50% crash needs a 100% rises to cover. and most of the rise where completed in several days, which make people jump on the train easier than jump off the crash.

coming the weekend. just look at what happened in the last three weekends.

And now that you said that everyone will expect it which means it won't happen. 

Quick sell all your BTC, the weekend is coming!!!  ::)

I would bet against it. Just think of the long crash after the bubble. Those crashes have not recovered mostly. On the way up, there have not been many crashes.

you're dancing with the bear again.

sounds like fun, I should do it some time.

What you said is not true. For example , you are not expecting it.

I think this is the weekend plunge. I have bought all the sold btc back, with some profit!

Crashes are good if you can avoid them. As previously said,

https://bitcointalk.org/index.php?topic=74890.msg981973#msg981973

 if you can avoid the largest 20 crashes on the mtgox trading history, you can be 1288x richer than buy&hold.

Make no mistake guys! What we are seeing so far is an upward triangle formation, not a shoulder head shoulder one. Buying pressure has been too strong to keep the lows from being lower then those before. Crucial for a prolonged rally is to break the resistance at 6.8$/7.0$

Short term trend: UP!

Ya right, Six point crazy wont hold for to much longer, and we might just dip below 6, but after all that we are going UP 8 not Down 5.8 ... tisk tisk

somewhat related: I wanted to make a poll called "Six Point Crazy" but it was removed.... something about 0 content threads not being ok  :-*

read again adam!  :-* I said, that my soulder head shoulder formation is no longer valid and has transformed into an upward triangle. Ergo: We wont go down below 6 (rather strong resistance), unless we ultimately fail to break through 7$.

The rising support trendline looks like turning this from "a classical Shoulder Head Shoulder formation" in to the more lopsided Quasimodo one

http://4.bp.blogspot.com/_T7BhcH-_Lqw/TLzlgEa2pPI/AAAAAAAAD84/QFkP7OiLRVE/s1600/charles+laughton.jpg

Is the Quasimodo formation bearish or bullish?

bullish-er than the past shoulder was, so long as he's facing you that is - which given the 2nd shoulder at 6.66 is higher already than the first we can safely assume so, the first shoulder topped out at 6.60 - the head at 6.80 - so 6.70 would make for a nice hump

this implies of course that later on we shall see the classic climbing of the cathedral bell tower & church steeple formations

+1

This ain't no ordinary head and shoulders.

If there is a weekend that the bitcoin price ramps up but not fall as we expected, I think it will be this weekend. More new investors are joining the party.

i agree, new investors and some new speculators have joined us, but that's what the rise to 6.60 was all about. again bitcoin is miss-estimated the price based on news of "dumping EUR for bitcoin", soon (i dont know like 1 month) we will have found the true price increase of this "dumping  EUR for bitcoin", once its all said and done i think we'll end up on the high side of 6, but not before we take a dive to the low 6's

IMO

just think, I'm looking to buy a bunch, and I'm waiting for a crash ( is their any other way buy a large amount of bitcoin?  ;) )

but under these market conditions... maybe 6.4 will be "the crash" everyone is waiting for, lol GO bitcoin!

My fiat is stuck in the bank for the weekend which sucks for me.

+999  :-[

Nobody here will be dumping euro for bitcoin, there is way too much money which can be made in the forex market for those who have them. And the USD will follow suit shortly after. Just wait till after the elections... you'll see.

+666

here it comes but not that low.

OH FUCK we just crashed from 6.66 to 6.65!

hahahah thats funny, you sell yet.

No.

edit: Buy wall still at BTC-e.

nice wall. safetynet

Remember my words ..  ;D

Oh god you're right.  We're down to $6.75 now :( :( :(

not a "right now". Wider range of time. One more time down below that would gain strength and exceed 7.2. I hope, better a detailed translation.

incoming.

+1 pull back...how far? ...dunno

5000 cents!

500 cents!  :D

http://bitcoincharts.com/charts/mtgoxUSD#rg10zigHourlyztgSza1gEMAzm1g10za2gEMAzm2g21zv

"Goombo's Indicator (https://bitcointalk.org/index.php?topic=60501.0)" just went red. 10/21 period hourly EMA crossover from "hold" to "sell".

Maybe we'll finally test $6 and then $5 again.   ;D

We aren't going anywhere unless that $10k wall goes down

lol, denial... such a durable feeling

not to worry
its being slowly pulled back

Market will fall from here and consolidate and test previous resistance as support...

Quick!  Everyone out of the pool.

it really takes a special kind of person to cheer the bears on while holding coins ;)

#%$@ this @$#%

http://btccharts.com is still showing 9.19
http://bitcoincharts.com  says 8.615
mtgox live.... 8.19


wtf???

We're back to where we were..... 3 days ago

Like I said a few days ago, the rally had nothing behind it (apart from rampant speculation by a few individuals) and we could end up at low $7s in an instant.

btccharts isn't working for me either. Bitcoincharts seems to be pretty up to date though. I was confused for a while there, when everyone was saying "Oh no, crash! Crash!" and btccharts showed a nice 20k bid wall at $9.

Yeah, first I saw it on Clark Moody's and thought WTF!? Must be some error. But 2 minutes later mtgox also showed that crash.
Still think we are going up, so. But itll take some time now till we hit 9$ again, maybe next time one of the big guys make a move like this?

this move has pirate written all over it

Everyone Fuck him up and bounce it back!
WE KNOW he has to buy these coins back
do not be manipulated, 8$ is cheep like dirt and you know that too!

phew... i was able to sell most at 8.5 USD, <1 here we come!

pirate or not. someone just dumped 40k+ btc

That's the same amount that was sold yesterday in a matter of seconds to try and suppress the price. I would say it is arguably the same person.

rallying back to 8!

I just broke all of my pencils stabbing my monitor.

Sweet.  My funds held semi-hostage by the Gox came in handy.

As the price fell my "what the hell the money isn't going anywhere" buy orders said "NOM NOM NOM" and I got a nice load of cheap coins.

1st stop ATM

2nd stop WalMart

3rd stop Bert's Discount Liquor

Good for you, Is bought at 9.20  :P :P :P (shame on me for being so greedy!)

Honestly it was pure luck from some bad luck.  MtGox is a USD dead end and I had funds stuck there so I put in some buy orders while I waited for a need for the funds.

Still trying to figure out why someone would dump coins like that?

Perhaps taking profit?

Or the desperation of digging a hole a bit deeper than you thought and cant do what you promised to others maybe.
 :o

lol this is bitcoin in hyper inflation mode

desperation HA!
http://bitcoincharts.com/charts/chart.png?width=940&m=mtgoxUSD&SubmitButton=Draw&r=360&i=Weekly&c=0&s=&e=&Prev=&Next=&t=S&b=&a1=&m1=10&a2=&m2=25&x=0&i1=&i2=&i3=&i4=&v=1&cv=1&ps=0&l=0&p=0&

the desperation is over buddy...

BUY BUY BUY

Because they have been praying of a significant rise up to 9-10 bucks a BTC so they could unload and
get into something that has world wide value acceptance and is useful to buy anything with. You know.. like the US Dollar.

Based on what I have seen.. almost everything sold for BTC is more expensive when bought with BTC. All the prices
are based on normal currencies with an additional cost added in just because you can buy it with BTC. Hooray! I can
over pay for goods! Coool!

Some people don't want to buy things today with bitcoins; they just want to buy bitcoins for the same reasons they want to buy gold.

I am hoping someone with deep pockets will buy those obviously false asks, if I had just done that huge dump, I would then buy those asks if they of course were not mine without hesitation. Much more BTC in wallet than two hours ago.

that could end in a really bad graveyard doji.

you know what that means...

I agree, that is some real BS. Preying on the bitcoin nerds, eager to buy anything with their precious coins.

If I had a product to sell (should by November), BTC price would get a discount. I want that shiny digital stuff

honestly
everyone how isn't with pirate should Refuse to buy above 6.50

Owned

but manipulated or not the market will do what it does best

???

lol?

The uptrend is strong because it's coming off months of sideways movement at $5. For the same reason, corrections in this uptrend will not be nearly as severe as the correction in Jan/Feb from $7.2 (right now, $7.5 is about right in the middle of the bollinger band).

Remember, the uptrend started at $2 in November, and all the sideways movement at $5 was a momentum build-up. Why would price retreat from $9, just to go back to $5? Unless this isn't a true uptrend but just an upward volatility burst.

But I don't think so, all the indicators confirm the upward trend. We'll bounce off $7.x (old resistance becomes new support) and grind against $9.x until most likely breaking $10, continuing the retracement of the correction from $30.

$9 profit-takers will probably be lucky to add to their positions buying under $8. Panic-sellers in the $7's will probably suffer some losses.

+1

Come on bears, this the best you got?

Maybe they've been running a ponzi scheme and for some reason need to cash out quickly.

lol

priceless

1. Dump 40k btc in market
2. People panic dropping the price further.
3. Buy back 50k btc for the same amount of USD you got for selling those 40k btc.
4.  ???
5. Repeat.
6. Profit.

I dunno, it's not Monday.

Seems to be working for whoever is doing it and I say good.
I hope she/he knocks all bots and panic buyers/sellers out of the market for awhile so we can resume a nice steady (and slow) climb.

I can see whats going to happen though, if they keep up these regular shenanigans a bigger shark is going to come along and catch them mid game with their pants down.

My advice, enjoy this show from the sidelines and let the sharks fight it out.

That would be so funny if someone just dumped 100k in the middle of the next pump. Game over.

Uhhh…isn't that exactly what happened last night???  It appears to me like there were right around 100k coins dumped in the span of a few minutes.

A few days ago someone entered the market with some strong buying…maybe it's the same person that was selling…they could have been trying to get the market running in order to profit from some weak buyers paying up for coins.

Went back up to $8.50.  Good chance to sell imo, I think we're going back down

IT'S A TRAP!

FTFY

why do so many ppl think uptrend is finish only cause 1 crazy guy sold a few bitcoins?
spirit is havily bullish, prize still over 7.2, uptrend is intact ;D
bears spreding fear like shit.

build triangle and go up futher?
or do you all really think we'll decrease now back to lower lvl like 5-6$???
(not asking proudhon, cause i know his opinion)

Just one problem…it depends on being able to gin up panic in a short amount of time and inducing people to act on it…the risk is that you end up taking out a lot of the buy side of the over book, but the asks don't fill in behind you…and if you're one of the lucky ones that happened to buy right as the selling was abating for a $1 discount, you'll find it rather easy to flip that into a $1 profit because people still need to buy bitcoins.  Same dynamic works in the opposite direction as well.

Whoever it was that was selling was probably just doing it for the lulz rather than to actually make money.

this is heavy bull. These bouncebacks are incredible. People want coins.

It's really not so much a bounce back as it is one guy deciding to jump off a cliff and nobody following.

Lol EXACTLY! +10

We've crashed from 4.8X up to 8.5! Keep on crashing, baby!!!

lol! possibly accurate analysis. Maybe for this one guy the alternative is being flattened by a steam roller, so he decides to try to jump off cliff and tells everyone on irc hoping for a sell panic.

look at intersangoEUR
someone big just bought few Bitcoins

http://bitcoincharts.com/charts/intrsngEUR#rg10zigHourlyztgSzm1g10zm2g25zxzi1gMACDzi2gBBWzi3gMomentumzi4gRSIzvzpszl (http://bitcoincharts.com/charts/intrsngEUR#rg10zigHourlyztgSzm1g10zm2g25zxzi1gMACDzi2gBBWzi3gMomentumzi4gRSIzvzpszl)

sell bitcoin and load more money in

Crash coming to an exchange near you!

 :P

buy now while still can get sub $10 :p

no
load more money in
sell your bitcoin
get some sub 8 coins b4 the bubble  ;)

 

I used my time machine again ...

http://s15.postimage.org/5qkcit7a3/Untitled.png

 :P

So you just increase the price of Bitcoin AND avoid the 2012 Apocalypse by putting a time loop from Nov 12 to Dec 11?

Sir you genius!  :D

its not a loop

this time around, we aren't going to drop as much

there wont be a crazy long squeeze like last time ..... just alot of dumps  ;)

so the shit (dump) is really gonna fly this time....dumps all round perhaps?

Maybe... sell you bitcoins now

This thing keeps on crashing upwards.

actually it's sideways, but nevermind I know people will do anything to sell at a decent price, like bumping irrelevant threads with made up statements,

Daily 10,20 and 50 SMA are all pointing up... thats a funny sideways trend...

He's probably still sold at 8.95.

I have one word for each of you two:

lagging indicators.

Could you share your leading indicators with us?  Thanks.

Last high was 9.7 last low 7.7. Anything in-between is sideways.

Candle stick patterns are non-lagging though not leading. (No crystal ball for you)

So if all indicators are lagging indicators, what significance did your two words, "lagging indicators" have?

I haven't said that do you comprehend the non- prefix?

There are lagging indicators and instantaneous indicators. You use the lagging ones to validate a conclusion you derive from a instantaneous one, but never use a lagging one for anything else than validation.

I should have made more of a point of disagreement that a candlestick or candlestick pattern is an instantaneous indicator.  For instance a hammer candle doesnt indicate anything until it has a confirmation candle following it.  This says to me that the candlesticks are also a lagging indicator.

But even following your reasoning...  today's candle is higher than yesterdays candle, and my lagging indicators confirm this.  Where is the sideways again?

I use them on a smaller timescale. (6 hours)
You see a doji after the "breakout"  which suggests the market is being pushed upwards. Then an inverted hammer and currently a "minus" (alas no movement) which suggests resistance at the current levels.

Previous highs above 9 have been blips without conviction and without sell-side volume.  In fact one may have been caused by the hack of the bitcoinica act on mt gox.  IMHO this is the first push above 9 that has any conviction. 

Yes, still they are valid for estimating resistance levels and they aren't related to anything except fat finger trades.

https://ferroh.com/charts/60day_small_zero.png?1343754963

I propose that they are not that valid for estimating resistance levels.    I think that that nugget learned from stock markets may not apply to such an illiquid market like BTC.  I mean intraday stock prices are still the effect of significant market participation in terms of raw #s of people.  But in the BTC markets a single individual can (and did) set those prior highs, and in fact may have done so solely as a pump and dump.

I think we saw a lot of resistance breaking 9.  But didn't the convictionless highs push thru 9 like it did not exist, topping out at 9.5-9.7? 

Looking at the sell-side it seems like we will see a lot of resistance at 10, I guess we'll probably find out in the next week or so whether that resistance reforms at 9.7 or whether it stays at 10...

What about Last high was 31.9 last low 2.0. Anything in-between is sideways. :D

*chanting* Lets go bears lets go!

Uhhhh yeaaahh....we're in a bull market...but you can dream  :D

u just wait. all the bears are going to be screaming "GOAL!!!" soon

here it comes.

*Holds breath* :-X

sec, gotta wait for my btc to arrive at gox *facepalm*

btc has arrived. The next bid wall that comes up that's >1k for >$9.5 I'm going to take a 12.2k dump on its chest. Don't say i didn't warn u.

your name sais it: kentrolla

Time to buy imho

(kentrolla, how much do you plan on buying?)

If the order book fills up to the point where there isn't much slippage, I'm going to take a huge dump. probably if i can sell it down to >$9.35 for 12.2k.  it depends on where the walls are ofc. right now there is too much slippage (like $2k) to take that kind of dump.

I won't believe you until you move 12123.45678901 BTC to a different address and then sign a message with that address.

get this thread off my damn screen already

oh man. I just ate a ton of beans. this dump is not gunna be pretty. Probably pretty slippery too.

"Sideways" back to 9.7 soon.

We keep crashing up, what is this nonsense? We have a new 2012 high!

9.8

Yeah it's up.

Should go to 13 now.

Sooooo, where's your dump of doom?

its coming. waiting for the right time. ill take pics if you want.

Yes please, pics :)

+1

Sideway or the highway.

i think its going to look something like this:
http://www.youtube.com/watch?v=S376iimvXIQ

You're 12.2K BTC only gets us to 9.42.  Let's see it.  Coil that MACD up for us ;).

this market is too bullish. I'm better off just putting up small ask walls.

Now you're talking sense.

6587@9.8 <- is that yours?
Weren't you talking about alot more coins?

That's about half.  He probably wants to sell the rest higher.

lol these bulls drooling for $10

There goes your 9.8 wall.

:((((((((((((

We're heading back down!

SIDEWAYS !!!!

up is the new down =)

I am quite confused, the yesterday upward triangle after the spike should have produced some deciosion, up or down. Instead we are going sideways. If there will be some decision it is too delayed. Something like that I have never seen before, a clear triangle of significant proportion that does result in a side trend. ???

What are you looking at?  The price is at $11 now.

Are you considering the time it takes to move fiat to the exchanges, and the tendency for people to NOT leave $ there (as compared to retail stock brokerages, etc.) due to the recent hacks?

And the dumping commences!!!!

I got the dump in the http://www.bitcoinmonitor.com/

On progress.

http://img821.imageshack.us/img821/203/novo2m.jpg (http://imageshack.us/photo/my-images/821/novo2m.jpg/)

demping after pumping. not bad!

Everyone get ready to start panic selling

Only the foolish.

SHHHHHH don't let them know

I already counted two additional dumps, smaller than the first one.

I am speculating the average price of BTC / USD will fall to less than US$ 10 if more dumps happens in the next 24h.

meh, eventually you run out of stuff to dump.
I love taking dumps.
In fact, I eat (buy) just so i can take a dump later. I don't even like the taste of food.
Taking dumps is probably my favorite thing to do.
I really enjoyed my last dump, but I'll have to eat to be able to do it again :( . 

It's the weekends - my best time to buy!  ;D
Thanks for the dump!

you're welcome. It was my pleasure.

Every time i take a dump i'm thinking about all the people around the world that I'm helping.

It's about time.  We're probably headed for the 8s, at least.

You meant 8 cents? ;D

It's just the weekend dip.

I think 10 would be a good price point until december. Let's see how things shape up.

yes, move the money to the strong hands. no naked shorting bitcoin.

Of course.

Nah, still "sideways" on the way up.

8.88??

We could trade down to the 10.00 area and the longer term updtrend would still be intact. (Starting from around July 5th.)

I'm glad we're having some retrace - gets those offers cleared out.

That's not important. The important thing is how long it's gonna take.
If it goes down too long now game over.

That fizzled out quickly.

As I keep saying, long term trend is up. Continually moving up with no correction is unsustainable. Markets move in three directions, up, down, and to the right.  :D

I'm just happy to be above $4.9X.  Everything else is gravy.

oooooooh

bitcoingravy.com

This "rally" was obviously not real, but caused by all the asks vanishing due to a glitch.

Uh oh...

LOL price goes down $.50 people start screaming "crash!"........so funny.

Price goes up $.50......it's "RALLY!"

LOL!

I think we overheat! We need some crash soon!

http://chanarchive.org/content/6_gif/4234045/1303326348672.gif

This whole thing is gonna implode soon! I tell you!

http://chanarchive.org/content/6_gif/4234045/1303940794488.gif

Shh! I'm waiting on confirmations!

Quick Bob! Make haste! Maybe you can get away..

http://chanarchive.org/content/6_gif/4234045/1303803380669.gif

2 confirmations and counting. Boy, where are the miners today?

I'm in full bear mode. Pirate mess will be messy, regardless of the outcome of withdrawals.

someone dumped a shit load of coins right now driving the price back to 14$

Someone is smart.

Here it comes:

http://chanarchive.org/content/6_gif/4234045/1303324577682.gif

Actually,I think people should buy now that the price is lower.

I do too lol

http://img641.imageshack.us/img641/1522/thumbsup6.png (http://imageshack.us/photo/my-images/641/thumbsup6.png/)

and here it comes!

i start buying Soon...... ;)

I can't believe we have gone down this much!

lol, I cant stop:


This is what happened to our rally:

http://chanarchive.org/content/6_gif/4234045/1303656301136.gif

403 forbidden

this is fun
https://i.imgur.com/fxXGl.gif

lol

Oh Man, I love bitcoin!

Wish I had extra money, I'd go buy more up!

lol... what were you guys expecting?

I doubt you'll ever see such an obvious echo bubble again.

Now, saw-teeth please! I know they're rare in echos, but they pay soooooooooo well, I just can't stop hoping for some! ;D

SELL ALL YOUR BITCOINS!!!!!!! XDXD

But who will buy if everybody sells?

SELL YOUR BITCOIN @ ANY PRICE!!! NULL NULL

We have already almost lost a third of BTC value O.o

lol
Proudhon you are even more devious than I thought.

fuck yeah! that was good!

The value was never really there. It was there for less than 1 day. Only when the price has been somewhere for a few months, can you say we really lost something.

Unless you are only playing with ~10 btc

http://gifs.gifbin.com/g600107907.gif

"Do not push BUY button"

I've got a sell order in. If it drops below $10, I'm selling ever last BTC I have. I don't care if it shakes up the market, I'll let all 11.5BTC go.

oh look, ponzi screamer is moving on to another target :)
I hope you enjoy losing your 5000 BTC.

I warned you yesterday!

https://bitcointalk.org/index.php?topic=100706.msg1103589#msg1103589

 :D

This guy just got on mtgoxlive:

http://img163.imageshack.us/img163/4002/doomsday005.jpg (http://imageshack.us/photo/my-images/163/doomsday005.jpg/)

http://bitcoincharts.com/charts/mtgoxUSD#rg2zig15-minztgCzm1g10zm2g25zi1gAccDistzi2gOBVzv

http://anonymouse.org/cgi-bin/anon-www.cgi/http://img163.imageshack.us/img163/1066/eruptionr.png (http://imageshack.us/photo/my-images/163/eruptionr.png/)

Get home around noon, see price at $15.00
fuck yeah going to have a good day...
go have lunch
get back, price at $10.....

well fuck.

looks like convergence will be $12.50ish for now

Look now, hard bounce.

Haha, +1.

At least it's back up to $12.40 for the time being...

Ok, admit it...

How many of you dumb dumbs fell for it and sold?

Not I!

BUY BUY BUY

 ;D

CAD market... dat spread.  8)

Dang, it's already back up to $13.20... there went my buying opportunity.  :(

Believe me your Corpulence, this is not for long. The price will drop over the weekend till Monday, only Pirate himself knows what follows after that.

dumb dumb here :)

I dumped some coins on Gox trying to pick more up cheaper. Due to my orders pending on that slow ass site, I lost 100 bitcoins. I learned my lesson  >:(

Man, I did. Half of my precious coins. Hell, either there is another dump so I buy back lower, or I call it profit and buy something nice from it. Always look at the bright side :(

I support this prediction.

Once the buying pressure regain the up trend, the price will fall to around US$ 8.

I speculate the average price will be around US$ 10 on the next week.

greed is getting best of you, after this rally all that will be left is the true believers & a fuck load of newbies  :D

fuck newbies!!

(just kidding ;) )Welcome to bitcoin everybody. Hope you all made it through your baptism of fire ;D

Couldn't get money to gox fast enough to buy. Gonna leave a stash there from now on.

It is exactly that what lead to the "volcano eruption" divergence.

Mt.Gox is full of "stashes" which helps to build bottom pressure.

However, at some point, the bottom pressure is stronger than the top gravity, them the volcano erupt and the "stashes" fly over the market.

Look this:

https://bitcointalk.org/index.php?topic=101203.msg1108621#msg1108621

leaving coins on mtgox is what got a lot of ppl in trouble last summer.

The is a rumor going' they learned from that. ::)

I was given the nick name "buddha" at the age of two. People have been calling me that for over twenty years and not once have I got "your Corpulence". Me gusta.

My pleasure your obesity.

LOL

fall baby, fall!  i got 4 kids to feed, man!   

GO GO GO Sell SEll

I wanna buy at 6.8

Pfff, I'm not buying now until we hit $2 again.

Get your bear back. Everything was better before :D

Haha, I knew changing my avatar would change the market.  Nah, Ima keep the bull for a while cuz I want the price to go down even more.

I love you, too. Missed you so much during the Rally.

Rally?
when was that? did i miss something?  ::)   ;)

you'll never buy again

Not really. The last rally was just the prelude. Better come back for the climax.

http://img715.imageshack.us/img715/213/hindenbitcoin.jpg (http://imageshack.us/photo/my-images/715/hindenbitcoin.jpg/)

You guys reckon Pirate is done cashing out or not yet?

He didnt even cash out yet!

I believe next thing he does is pay back lenders and while first rumors of lenders cashing out of payback he erects that 100k BTC ASK wall and scare the shit out of everybody. On the way down, he'll buy up what he's short of in BTC and then pays the rest to remaining lenders till the end of the week. He'll never sell his own BTC till we are back to 10$/BTC. Thats just genius.

Look here: he's holding on to 30k BTC himself right now, this figure will probably increase when the show is over.
https://bitcointalk.org/index.php?topic=101339.msg1111794#msg1111794

+1

As Vladimir put it nicely, bitcoins are going from weak hands to strong hands.

Yes, sure he is.

Not true. A lot changed into my hands and I was scared shitless at times during the weekend.

+1 Thx for that

That about pictures it  :D

Looks like we are starting to head down again...

i dont think so

http://alfixturedesign.com/420/animation2.gif

I hope the thing Gavin is gonna announce in September is gonna boost the price.
Buy cheap while you still can folks!

You HOPE the price will go up so everyone should buy what you hope is now cheap?
LOL.
If i were you, i'd dump my entire life saving into bitcoin RIGHT NOW!

Where exactly do I say I hope it's now cheap?  :-\
Ofcourse the term 'cheap' is relative.

It will ONLY be cheap IF your hope comes true and the price skyrockets.
So by hoping the price will rise, you actually hope that the coins you buy now will turn out to be cheap.
And then you tell everyone to go buy NOW because the coins are cheaeap! OMG.

.. dunno.. made me laugh.

It is cheap for people having too less Bitcoins, and it is expensive for people having too much of them. So it depends ...

You can have too much bitcoin?
:o

If your bitcoin are too expensive for you, just hand them to me  ;D

You can get a couple of them for 12 USD for one, or you can sell some of them to me for 8 USD. At 10 USD I have exactly the BTC I need, so no way to trade now.

What's your goal? funds_usd * exchange_rate = funds_btc or something of that sort?

It's exactly like this. It's boring, it's stabilizing, it's social. Any manipulation is good for me, I'm competing against it.

If price rises from 10 USD to 12 USD (20% gain), I'm selling up to 20% of my Bitcoins (less mostly, but I'm selling). Same with all other assets (Gold, Shares).

That's no way to lose money ;).

This is not bullish

http://img69.imageshack.us/img69/9752/bitcoin55.jpg (http://imageshack.us/photo/my-images/69/bitcoin55.jpg/)

i agree, a short term bear market is in order.

8$

that's always been the magic number  ;)

This is starting to look like another bear trap. We should be at least at 9 by now... we are not.  :-\

All this means is the bull trap is working very well, give it some time.

I also want to get in here before we crash again.

I just hope people will be smart enough to sell before it gets ugly...

http://www.youtube.com/watch?v=VVOrcGMVCRY&feature=youtu.be&t=3m6s

soon my brothers, soon

 :D

Where's your twin brother potleaf?

Here is some free btc to all you bears:

http://betsofbitco.in/item?id=586

why did the RALLY!!!!-thread get locked?