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IMO the whale who bought some 4k - 5k coins on Gox managed to transfer his coins to Bitstamp, and has a 2k sell wall there.
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someone is buying a load of coins, crazy action
Maybe it's just the owner of 850 wall buying from himself  It's possible, trying to reignite a bull market. Problem is, to break 900$, another 6k coins would have to be bought. |
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Just a lot more fiat at Bitstamp. In theory, Bitstamp should be able to climb to 1,300$, but they will probably follow Gox.
Excuse me? On Gox's order book you have more than double the amount of fiat compared to Bitstamp's order book. Compared with the situation a week ago, Bitstamp has a lot more fiat now. That allowed it to climb 120$ higher than the theoretical peak. |
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Just a lot more fiat at Bitstamp. In theory, Bitstamp should be able to climb to 1,300$, but they will probably follow Gox.
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A further drop of some 200$ - 250$ would clarify the market's position, and in about an hour a drop could start.
But it remains to be seen of which magnitude it will be. So far, the drop from 890$ to 745$ was underwhelming IMO.
So by an hour do we mean an ACTUAL hour you did you mean a few days? Because the two exchanges I follow both increased in the last hour. The drop has already started, from 830$ when I wrote this to 790$ on Gox. Maybe that's all, or maybe there's more to come. |
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A further drop of some 200$ - 250$ would clarify the market's position, and in about an hour a drop could start.
But it remains to be seen of which magnitude it will be. So far, the drop from 890$ to 745$ was underwhelming IMO.
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Shall we begin?
For now, this capitulation started slowly, and it will take some time to gain downward momentum. It's not an April 10th style of crash, there aren't yet enough coins for sale to trigger a mass panic sale. Give it time, IMO it will take several more days. I can't say anything specific, because bitcoincharts is down since yesterday, and I need it to figure out what can happen next. |
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Maybe the hackers who ddosed Gox just dumped on BTC-E.
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It's possible that the ddos on Gox is trying to buy time for China to wake up, they are mostly asleep now.
Which purpose the ddos will eventually serve, I don't understand yet.
When are you going to stop talking out of your ass? When are you going to stop trolling? Probably never. |
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It's possible that the ddos on Gox is trying to buy time for China to wake up, they are mostly asleep now.
Which purpose the ddos will eventually serve, I don't understand yet.
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Gox looks ddosed now, operation seems slowed down or even unable to log.
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It will be in $400 in two hours.
Only if this is going to be an April 10th style of crash. Otherwise it will take longer. Right now it's too early to tell. |
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It's not a prophecy, we reached the peak of wave B with an inflated bid sum, almost as high as the very top.
And now it's time for capitulation. See you at the bottom!
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Harvest time.  |
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Now that your average entry price of $350 per BTC has been eclipsed and the price is now at $800, I urge you to cash out your base investment and put it back in your college fund. I suspect your parents will be much happier to know that you haven't squandered their cash, but just borrowed it to make a smart investment.
Yes, good advice. They might not be able to understand bitcoin as you did so cash out and keep the rest. Don't be fooled by the recent price inflation. It can go down. +1. Put the base investment back and only play with what you can afford to lose. And don't wait much to do this. |
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Not to mention that 'inflation' in the ask side of the order books can reach 1000% overnight.
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Money flow and stochastic RSI are quite low, but nothing is happening yet. Will this be a minor drop or a large one?
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Wave C with some 8 million $ bids more than 'normal', maybe it will morph into a supportive sub-wave, we'll know tomorrow.
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From an EW perspective, we are after the peak of wave B (750$ on Gox), and within capitulation.
But now there are several million $ more in the order books resulting in buyer pressure.
On Bitstamp it's ludicrous, the price may even top the 755$ Bitstamp peak.
Quite weird, and high buyers will get burned badly if the breakthrough won't be real.
For me, the most realistic picture is China. They seem on track to properly end wave C in about 3 days.
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