Whale?  |
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Its call a breakout  It's called, soon there's going to be a race to the door. |
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Just saw a pretty good size whale poke his head out...
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very long-flying whale... this on moon? Wait for it.... Still dreaming about single digits? Yes. |
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Get ready in 3, 2,...  very long-flying whale... this on moon? Wait for it.... |
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Get ready in 3, 2,... |
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It's just leveling off. This RSI is just exasperated by the weekend effect combined with the sudden rise.
We may see the uptrend continue after the weekend. BitInstant revenue data would be a good way to tell what will happen.
Maybe, but is seems clear enough that the big players are trying to scare the price down to grab more coins, and they have enough weight to do it. Selling into everything above $15 could induce panic and they could easily place themselves to buy back in the panic that follows into the $14s. I mentioned a day or two ago that the order book would probably be flipping (i.e. asks mounting up against bids), and it appears to be happening right now. Bids are going to get scared away. We're at the beginning of a long down trend, I think. From $14-$15, there is a demand for 30,000 Bitcoins. That backing adds too much certainty for there to be a significant decline past $14.95. People can try to make a quick buck all they like but it's not based in market fundamentals. Additionally, I think this is market is mature enough to be immune to such manipulation. By comparison to standard markets, this market is tiny and absolutely ripe for this kind of manipulation. There are plenty of people on MtGox with more than 30,000 bitcoins at their disposal to wipe out the "demand" above $14 and then some. I almost consider it an act of pure charity that these people don't just take their insane profits (most of them probably accumulated well under $10, or even $2) and leave this market in shambles. |
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Rally resumes Monday.
Bears were counting on the weekend dip, they counted wrong.
What are you talking about? It's dipping. And the order book has almost completely turned around. The big buying money has been spent. The people who spent it now have lots of bitcoins, and they're probably the same ones you're seeing placed as giant ask walls on the ask side. The hope would be that they could use the bitcoins they just bought to scare the price back down and in the process sell some of them to buy back more. |
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It's just leveling off. This RSI is just exasperated by the weekend effect combined with the sudden rise.
We may see the uptrend continue after the weekend. BitInstant revenue data would be a good way to tell what will happen.
Maybe, but is seems clear enough that the big players are trying to scare the price down to grab more coins, and they have enough weight to do it. Selling into everything above $15 could induce panic and they could easily place themselves to buy back in the panic that follows into the $14s. I mentioned a day or two ago that the order book would probably be flipping (i.e. asks mounting up against bids), and it appears to be happening right now. Bids are going to get scared away. We're at the beginning of a long down trend, I think. |
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Trend reversal from here? The tides seem to be turning.  I think so. Likely going to see a mutli-month decline/stagnation. |
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I sold some on the way up, too. Just reset (forget about it) and make new decisions.
This is good advice. Also, never sell  unless you gained at least a dollar I like to sell high, buy low, sell high, buy low but... Didn't expect this huge breakout.... Now I have only this smelly USD.... hehehe... BTW, I'm smelling a dump... I can smell it from the other side of the ocean  LOLOLOLOLOL Come to 14.7X!!! Pleeeease!! ^_^ A proper dump like we've seen in the past could easily take out everything down $13. I'm waiting for that one, and the subsequent panic selling. |
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Meh, I'm still waiting on single digits before buying again.
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There have been times when the asks have been even thinner than that. 2011 this happened a bunch of times, IIRC. Hasn't been this thin for a while though. Just wait, soon we'll be looking at an enormous wave of ask orders. The order book will end up looking flipped around.
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Probably gonna see a pretty intense round of selling soon. My guess is large dumps down to $14, followed by a bunch of panic selling into the $13s.
proudhon, how many YEARS is it now that you've been trying to talk the price down? Man, has it been that long already? Still waiting to buy again at $2. |
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Probably gonna see a pretty intense round of selling soon. My guess is large dumps down to $14, followed by a bunch of panic selling into the $13s.
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But is it normal for a "right translated cycle" to have so much more volume in the down turns?
This is overall not really true.
We see strong volume accumulation on the upside over the past weeks.
Since yesterday yes - but before that for a few weeks all the big moves were sells. Sometimes it is hard to see on the historic charts - because you need high resolution to see it - but this is what I remember. Look at the last 10 days on bitcoincharts with a timescale of 15 minutes. You can confirm that the biggest moves were sells, including a 10k+ sell from $14.2x down to just under $14.00. |
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Ok, whatever the 2012 high was. It's not going higher than that this year. That's my guess.
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Not going to happen. Never.
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Whatever the high was/is between the 1st of the year and now, that's the peak. $14.3x, I don't care to look up exactly what it is. Let's just say $14.40.
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