The price is only allowed to rise this fast:



Now it is rising too fast and the train has been derailed.

Bitcoin right now is like a perpetual motion machine. Gox/Bitstamp rally because China is rallying and then China rallies more because gox/bitstamp are rallying.

No but it can happen in the future.

I am still 75% long. Do all of someones opinions here have to do with their own trading position?

It's something unforeseen which will make btc unfunctional or obsolete.

Protocol failure and changes in technology.

Bitcoin is doomed to fail. It's not something big money would be allowed to get into.

I agree that $200 is ridiculous and I was going solely by where that last correction was. I think the drop might actually connect with the trendline from October which will be somewhere around $300 at the time.

I have analyzed the bubbles of previous chart and have observed that there were always several corrections to the LONG daily ema (blue line on clarkmoody) which would facilitate capitulation, keep the rally strong and make the new price permanent. When the long daily ema corrections stop, the rally enters into a bubbling mode. The final steps which occur during this stage are:

1. The last correction to the long daily ema.
2. A correction to the short daily ema.
3. A correction above the daily ema.
4. A huge spike followed by the crash



As you can see just like in march/april, we have stopped having corrections to the daily ema, have had a correction to the short daily ema, and have had a correction above the daily emas. At this point we enter into the bubbling mania phase, see a huge spike to ($700?) and then a crash. Maybe this part of my analysis is wrong, but in April the crash ended at the point of the last correction to the long daily ema, which was $50. Ours is around $200. I know $200 sounds ridiculous but that would be the result of us not having any serious corrections earlier and all that pent up dumping needing to occur. We would of course bounce off that level very quickly.

EDIT: I do believe a correction to $200 is unlikely and that $300 is more likely.

I cannot wait till the first 5k+ ask pops up on an exchange.

I bought at the bottom of the second april crash at $50, and sold at $58, thinking I was enjoying a 16% profit.

In June I was convinced it was 2011 all over again. I bought at 82 and sold at 75, bought at 67 and sold at 69.

During the silkroad crash I thought 110 (on bitstamp) was the top of the dead cat bounce, and sold. I had to rebuy at 120 before the rally.

I didn't participate at all in the april bubble, the 50-170 rally, the 80 to 130 rally, or the 66 to 150 rally.

With 10:1 margin you will be liquidated at $500!

There are no coins!

It's not making the same kind of percentage gains anymore. $10 is 2%.

It's a bearish wedge, during a low volume climb caused by low ask depths.

It's stagnating during a rally. During a rally there is a lot of risk so if its not going to the moon earning me rewards and its just sitting there, then its not worth the risk.  This can of activity can also be an indication of a kind of bearish divergence where volume and support will need to be met at lower levels for the rally to continue.

Auctually the volume needed to sustain a given price level is based on bitcoins, not dollars. If the price is four times higher than there needs to be four times as much usd volume, which is the same amount of bitcoin volume.

I feel a lot different about my trade now that I'm speculating about maybe another 50% gain rather than the original speculation about a 600% gain when I originally took my position at $120, of which a 300% gain has already been realized.  Would you guys shun me if I took some of my profits off the table?