yeah i noticed same thing, yesterdays high was something like 30.38 so i was looking to see if we would top that but 30.4 seems to be the ceiling just now. Boring day really but i'm happy with it, no panic sells or anyone getting itchy, just a calm day.
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the 3rd graph certainly looks powerful to me, thanks for sharing
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if $28 is as far down as it's going to "crash" then i'm buckling myself in because this thing is going to take off.
The wall at $30 was about 13k coins before, now we're heading back to it and the wall is only 3k.
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i'm not involved in any of this, but what i do know is, if i was running a company and had customers asking what is going on and i had received the chips finally, i'd be excited and keen to get some pictures in and show them off, such a simple thing, a couple of photos and what it would do for your company in terms of trust and profile, to not show any photos at all only has negative effects.
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LOL i didn't actually say that would happen did i???
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If someone sold 50,000btc right now we would drop from $31 to $25 If someone bought 50,000btc right now we would rise from $31 to $194+ (can only see up to 48.7kbtc)
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being Friday as well i can see the profit taking coming in over the weekend and i'm guessing we'lll start next week around $30 and go on from there.
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$31 has arrived
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I also think we'll see a period of holding steady around $30-$32 while everyone who was into bitcoins in the first crash and got in at low prices get out,after that the price will carry on upwards. People who bought at $20+ only to see it crash to $2 will be thankful to get out unhurt and people who bought very low have made 5x or 6x their money, so it's fair enough if they want to get out, but i think after that we will carry on up to $50 region.
Even at $50 the entire bitcoin economy is only valued at $500m which is scary, in my opinion, because it could easily become a $1-5 billion net worth economy. When you look around at all the major bitcoin websites they all seem to be experiencing explosive growth. Coinbase has over 2,700 merchants signed up and growing rapidly, i think they will play a very important part in bringing the "underworld" bitcoin to the mainstream.
That's one thing i like about this "gamble", the price is not based on just one website or one company, it's basically representing the value of the entire bitcoin economy, so certainly has much bigger potential to reach a few billion in value.
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a couple of days ago the wall was 13k, then 11k, yesterday we touched into the 9k area, now we are down to 7k. I don't think we will break $30 for at least 3-4 days yet, but i think it will break through
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no one can predict the future but you certainly can look at all the components of the cup and handle formation and that will give you an indicator of how strong it is. Things like
potential failure: the handle should not drop below the top half of the cup formation the price should not drop below the 200 day Moving Average
It's just my opinion, just like anyone else can have their opinion, but when I look at all the indicators of the formation, everything for me points to a very strong formation indeed.
For those looking positive, the target price is usually the difference in depth of the cup added to the high point, so we could be looking at $32+($32-$2) = $62
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down to 9k resistence on $30, has held above 10k for a while, great battle going on, love watching it.
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all you need to do is read and learn about the cup and handle and you will see exactly where we are.
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What i find really interesting is that if someone sold 50,000 btc the price would drop from $29 to $25. If someone bought 50,000 btc the price would go from $29 to $79. Interesting to see the strength i think.
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13 MORE CENTS YA CHEAP #$%^&
10k btc make up that 13c though. It's like coming up to the enemy gates, we're getting ready for battle. I like watching clark moody seeing it unfold
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I think the cup and handle will be true here. There will be pressure at $30 and again at the old high. I feel like we will "reach up" to break the old high by a tiny amount, mainly from the excitement of being able to achieve it, before falling back to the $25 range after a sell off, $20 at worst but then things will settle and we will climb back up and be much stronger in breaking the $30/$32 barriers. Once we clear $32 i really think that it will become the new bottom and a key indicator as to how things are going. I wouldn't be surprised to see us settle in the $35-$40 range within a couple of months with a strong barrier at $32 and $30
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if your entire analysis is based on "look what happened last time"...
I did say ".. or very soon." - "Those who cannot remember the past are condemned to repeat it" ~George Santayana
- Plus other factors, like Irrational Exuberance in the community*
*Some of which is very fun and I have participated in.It doesn't matter, your entire argument is "look what happened last time" which is totally ridiculous.
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if your entire analysis is based on "look what happened last time" then i think it's you that has no common sense.
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