Market will move between 716 to 734 today.

India is poor because we haven't conquered foreign soil since last 10,000 years for resources.

Can you please clarify on what kind of norms to be followed if i am bitcoin trader while converting BTC to indian Rupees.

Person sending money abroad, should provide their identity and residence proof at the time of placing the request for outward remittance to authorised MTSS agent. The payment for the remittance may be made by account payee cheque or Demand Draft or by Cash deposit (upto Rs. 50,000/-) (806 USD).

Trolling over the word "bubble" !  

An economic bubble (sometimes referred to as a speculative bubble, a market bubble, a price bubble, a financial bubble, a speculative mania or a balloon) is "trade in high volumes at prices that are considerably at variance with intrinsic values". It could also be described as a situation in which asset prices appear to be based on implausible or inconsistent views about the future.
Because it is often difficult to observe intrinsic values in real-life markets, bubbles are often conclusively identified only in retrospect, when a sudden drop in prices appears. Such a drop is known as a crash or a bubble burst. Both the boom and the burst phases of the bubble are examples of a positive feedback mechanism, in contrast to the negative feedback mechanism that determines the equilibrium price under normal market circumstances. Prices in an economic bubble can fluctuate erratically, and become impossible to predict from supply and demand alone.

While some economists deny that bubbles occur, the cause of bubbles remains disputed by those who are convinced that asset prices often deviate strongly from intrinsic values. Many explanations have been suggested, and research has recently shown that bubbles may appear even without uncertainty, speculation, or bounded rationality.

This estimation was correct as the maximum price (@ BTC-e) went upto 1080 USD/BTC on 30 November 2013,which is within +/- 9.5 %  

@ spndr7 & arepo : so if i am understanding what you are saying, for the next 5-10days, there is an up band at aruond 770 from which it could then skyrocket to 900ish and a low band at around 705 where it could then drop to 600ish.. or have i completely misunderstood?!

edit: I figured that between 700-750 is the correct price for bitcoin ATM and considering all the recent fuzz around it

two possible moving supports on the 6-hour RSI, both robust with 3 points of contact. the most recent bounce off of BLACK corresponds with the price threatening to break out of its lower bollinger band in your figure. as a side note, it is always wonderful to see agreement between two technical measures as it is one of the few ways to show empirical consistency in this practice.


unless we actually break under this support, there is no bear signal i can see.

--arepo

Where is the single most make or break issue affecting Bitcoin in this present time, reflected in your charts?

care to explain what exactly is the bearish signal here?

all i see is a divergent consolidation channel, at the end of which one would expect a resumption of the uptrend from $600.

bitcoin is not illegal in india. why should it? but when you open a business and dont care about laws and regulation, you get punished.

What about jan 9th - do you expect it to skyrocket? What is the significance of jan 9th?

I have sent an email to Aadhar development team for access to their Authentication system on 24th Dec, but I have not received any response so far.  They are currently running it on a trial basis. If any of you can get me an intro that would be a good way to start.

On Thursday, ED raided the premises of Mahim Gupta in Bopal area of the city who provides trading platform through his website -‑ buysellbit.co.in. During the preliminary investigation, the ED found that it is in clear violation of Foreign Exchange Management Act (FEMA) rules of the country as central bank does not provide permission to indulge in such transactions.

Today's scene

Markets had to rise till 752 till 26 December 2013 otherwise collapse may be huge.

This reads as though you think it is still going to go down just not as low as was anticipated by most. Is this correct?

As said earlier,if the price stays below 645 - 660 level for next 4 days (till Christmas) from now,then major fall to 215 to 240 level is very likely.

Market is continuously sustaining its positive volume, since yesterday.

It could reach 695 level in next 24 hours, if resistance band of 615 to 625, is crossed, for at-least 8 hours.