The  simplest explaination is that there is one big player (if you follow the threads you know who) who is trying to sell more than 100,000 coins gradually and it takes time until the market has absorbed it.

There is a balance because there are gradually new buyers coming in and "bitholders" have no intention to sell because they believe there is a chance that BTC/USD will explode anytime soon again.

it is another very good way to diversify trading options.

... And like for other financial markets, Technical analysis will remain fully valuable, because we analyse price movements in the first place.

Perhaps we can even on top create the best X-Mas gift:

Bitcoins for your family and friends. 10 BTC now might be worth minnions in some years...

And perhaps we can design a bitcoin in X-Mas designs as temporay edition :-)

Thanksgiving is a huge event, and statistics show thta people are shopping a LOT (black friday but also beyond) and people spend a lot of time on the internet.

Shouln'd we get something BIG out in the next 48 hours?

If yes, what?
* advertising
* tell-a-friend
* shop ~insert prodict~ & get 10 BTC for free :-)
* articles
* etc

As promised, here is tonight's Technical BTC Update. full update + charts on:
http://mtgox.com/blog/?p=55

As many of you have realized, the market is relatively unchanged over the past days, so I only did minor tweaks in the re-post of Wednesday's update. I am sure price action will get exciting again. Often, this happens when most people do not expect it, so stay alert.
Overall, there are no fundamental changes in our the outlook. The bulls are in the attack, but the bears hold the lid on the market around 0.30-0.35$.

Analysis
1. Long term outlook
BTC/USD are in rally mode. The longterm chart that shows the perfect uptrend line (now around 0.265 $ and rising ) and also the 0.30 - 0.35$ resistance.

Strong upside targets are the previous high, 0.50 $, dollar parity at 1.00 $, and then the 1.30 - 1.50 area.
Support lies in the 0.265 area (trendline), 0.25 and o.20-0.22 afterwards.

2. Short term update

No change: The inverted head and shoulders pattern is still intact, awaiting the breakout to the upside, which is still the most likely scenario. Based on my daily analysis of the order book, ASK volume is declining, indicating that buyers "slowly eat up the cake above them".

great! you are a true BTC economist  (I mean this positive!) thanks

@Madhatter

this is a great breakthrough! chapeau!

one question.. what do you do with all the bitcoins go are getting?

also perfect. i was in St. tropez last year :-)

me too this year and Zurich is not just around the corner as I am in Lausanne/Geneva area, but lets keep it in mind for next year especially when we have more people joining.

We can have a day of skiing together in Feb or March 11! :-)

I agree.

Perhaps we should also discuss about the purpose of using the bounty for again.

What has the best rate of return for the bitcoin idea?
* a nice, expensive video
* or something else that has more impact?

You probably get my bias ..

As a next advertising wave, we could think about a different target group: People who want to preserve some of their savings in the current economic turbulence.

Can you advertise on google keywords / websites that are viewed by those people? Potential keywords could be
* savings
* safe investments
* protecting capital
* protecting wealth,
etc.

Selling line could be:
Protect your wealth
Save(or invest) in BITCOINS


It is important that the landing page is then NOT bitcoin.org (because this is to "techy"), but a different site that best enables those people to i) get information about bitcoins and ii) to easily invest at least small funds into bitcoins as a start.

Anyone in Switzerland?

Sent 50 BTC just now!

True

"The first 500 people to install bitcoin get BTC 0.05 absolutely free from the Bitcoin Faucet."

Perhaps this could be integrated on the landing page of the banner link (or does it point to bitcoin.org?) so that people don't need to search for it.

I think it is a good start, very simple.
My only big comment is to integrate a call to action .

"Bitcoin: The currency of liberty. Try it now."

Believe me it works much better than without it.


As a second wave, we could even think about an incentive (like: The first YYY people get free bitcoins worth 5 $, or we can do a raffle)


I'll send the 50 BTC this evening then.

And thanks to those few who have donated recently.

Makes me feel motivated.

We got some coverage yesterday, making it into the top page of google search in past 24 hours .... 

http://www.forexfactory.com/showthread.php?p=4189074

http://mtgox.com/blog/?p=49

New update

Thanks chaord. You are demontrating true entrepreneurship!