Gang, I must admit that I am a bit confused at this point. We broke the $505 resistance mark on Bitstamp which is very bullish, but we only did it for a very short period and only slightly. In the meantime, China has not emerged past their key resistance points. Thus, there are contradicting indicators.
At the same time, we broke $505, right? This really should be the end of the storm. I want thoughts from people in response. Not frantic words of BUY BUY BUY or SELL SELL SELL... just thoughts. What are you all seeing (with details)?
I have witnessed 10000´s of coins getting sold from small fishes, which leads me to the conclusion that millions of $ are on the sidelines right now, however the ask side remains shallow, which means that a lot of those bid orders that got filled do not have plans to sell for a quick profit but more likely have been accumulated long-term. If the small fishes want to buy back their coins on the way up, which most of them probably want, they have to fight each other quick because there is a scarcity of coins right now on the way to 600$.
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