this is an enormous imbalance in the order books and the bids have moved up. and yes, i think it is significant and not just posturing. ![](https://ip.bitcointalk.org/?u=https%3A%2F%2Fi.imgur.com%2FigANZ.png&t=663&c=h4YCIqNuiETpJg) Ahh the good ole days! ![Cheesy](https://bitcointalk.org/Smileys/default/cheesy.gif) Very bullish to $6 ..lolz No, the bear market's not over. We need to see final capitulation below $1. And those of you who think we'll hit $100 are just dreaming. Never. Gonna. Happen. The good old days (when I thought bitcoin was play money because I was "too busy" to research what it actually was LOL). there were an enormous # of inexperienced FUD traders around here who used to think that a wall like that would be put up as a fake posturing tactic to scare ppl. they blamed whales for those tactics. i always said that the whales weren't stupid enough to take that kinda risk esp. given the lagginess of the trading engine on mtgox. there would be no way a whale could guarantee getting out of the way of a big seller hitting their bid. if you think it's volatile now, it was crazy then.
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i remember silverbox was riding my ass hard back then. silver seemed so, so far away in price.
once we caught that mofo, Bitcoin was off to the races.
The Slingshot Effect!
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this is an enormous imbalance in the order books and the bids have moved up. and yes, i think it is significant and not just posturing. ![](https://ip.bitcointalk.org/?u=https%3A%2F%2Fi.imgur.com%2FigANZ.png&t=663&c=h4YCIqNuiETpJg) Ahh the good ole days! ![Cheesy](https://bitcointalk.org/Smileys/default/cheesy.gif) this last consolidation felt just like that one. we were stuck btwn 4.50 and 5.40 for months. and then, BOOM!
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To get a better sense of the worldwide fallout that has occurred at a real economic level to companies in Silicon Valley as a result of the NSA's and gov'ts desire to "track" everything, watch this video from 2 days ago: http://blogs.vmware.com/vmware/tag/melissa-leeI think the conclusions can be extrapolated to Bitcoin. Edit : watch the first panel discussion with Andreesen.
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In a public debate setting, Mark Williams actually admitted to Barry Silbert that he owned Bitcoin, so it looks like he is an unsure skeptic, hedging his bets. And in a coindesk interview he seemed fare more moderate and cautionary than he was in the senate herring, I think he has come around.
I have also noted this softening of his opinion over the course of the last few months. In a year he will be a Bitcoin evangelist and will claim that he always knew Bitcoin would be successful. If confronted he will just revise history and claim that his damning criticisms were misinterpreted and he was actually referring to companies like Mt. Gox, or some other such BS. Ironically, he will probably forge a very successful career in the Bitcoin space, but we will never forget Professor Bitcorn!! No! It's up to us to pound his ass forever.
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The definition of a true money is that's its widely accepted and is a unit of account. For the latter to happen, we have to think in Bitcoin and the former must happen. The former can't happen until or unless even the black markets can privately accept Bitcoin, as they are markets that exist in the trillions of USD. Note that I already believe that Bitcoin has become a medium of exchange and a store of value.
Note that the US gov't understands this principle completely otherwise they'd be working to ban the USD for all the problems it causes in money laundering, drugs, child porn, and terrorism.
If Gavin wants Bitcoin to expand to the tune of tens of thousands transactions per second, it won't happen without privacy as even no corporation or consumer wants their private finances monitored, let alone entities in the black markets.
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Gold and BTC have one hell of a relationship.. It's like freaking clock work.. BTC up gold down.. Gold up BTC down.
I wait the time when they will both shoot up to new highs unbelievable now Sadly a lot of bad news will happen soon for the western financial sectors; the States and some European Countries keep having a public deficit, a commercial deficit and increasing unfunded liabilities Through most of history there's only been one true form of money, gold. Occasionally, we've had short periods of bi-metallism. To think it will be any different with Bitcoin and gold, or Bitcoin and altcoins is to defy history.
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Silver getting slaughtered, long term 19 support gone.
yes, but Goat is getting richer.
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getting uglier: ![](https://ip.bitcointalk.org/?u=https%3A%2F%2Fi.imgur.com%2FWXmJu5m.gif&t=663&c=ygMa41LptmJx6Q)
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One thing I'm learning with forex trading that I'm getting into now is that candlestick patterns and lines on simple plain price charts are much more effective tools than complex mathematical indicators, which are ultimately derived from the same data.
this is very true. once you get good at it you can actually begin to read human emotion into the patterns.
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hey Teebone,
is gold still laughing?
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You don't need a MACD. The first indicator was when it finally broke the $380 support and then proceeded to fall only to $340 and then immediately bounce all the way back up, never establishing a new lower trading range.
yep. i said one of the indications. that was a false "throw under".
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Never rely on one indicator alone. Especially not the MACD.
LoL. That's kind of like saying don't just rely on your ears to tell you a 150mph train is coming round the bend in 20 seconds. That isn't just *any* MACD indicator. It's a 1-week one. What that means is that it isn't predicting what's happening, it's TELLING you. That kind of momentum doesn't turn around in a few days - or even a few weeks - unless Bitcoin blew up technically. What's more, the selling that went on during the past few months was in spite of the fundamentals, not because of them. It happened against a background of all kinds of bullish news such as the overstock adoption, senate hearings, Winklevoss ETF progress through the regulatory framework. ok, there's been some negative stuff as well, but it's all short term and largely inconsequential to Bitcoin's adoption - Gox going bankrupt, malleability histeria, China trying to put their finger in the dyke etc. So you've had 4 months of downward pressure from 3 short term sources.... [1] - the correction from December's pump [2] - China regulating their FIAT gateways [3] - F*ck ups like Gox and the malleability scare ... against a background of growing favourable fundamentals, not least of which is the Winklevoss ETF which will open a massive Fiat gateway into the market (the biggest of which is currently BTC-e and Coinbase ![Undecided](https://bitcointalk.org/Smileys/default/undecided.gif) ) All this has had the effect of compressing a coiled spring which is what you're seeing in the MACD histogram there. There isn't any better indicator to demonstrate the aggregate effect of these market influences because you're seeing higher level derivatives of the selling momentum over a long long period, so it runs deep. It might change course, but only as fast as the world's biggest supertanker at full speed. this is correct. the higher low drawn on the MACD was one of the first indications to me that we had bottomed out: ![](https://ip.bitcointalk.org/?u=https%3A%2F%2Fi.imgur.com%2Ff4RSPIy.png&t=663&c=8ztiyzfNFaVdzw)
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Satoshi: "I am not Dorian".
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oopsy: ![](https://ip.bitcointalk.org/?u=https%3A%2F%2Fi.imgur.com%2FXJTmG0y.gif&t=663&c=q8KwwolwSXiXaA) Peter Schiff is selling.
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I love Breakaways.
Everyone gets that deer in the headlights look.
![](https://ip.bitcointalk.org/?u=http%3A%2F%2Frobergtaxsolutions.com%2Fwp-content%2Fuploads%2F2010%2F10%2Fdeer_in_headlights1.jpg&t=663&c=SH_Ei41HlhHlrw) no, i said headlights. as in "about to be run over": ![](https://ip.bitcointalk.org/?u=http%3A%2F%2F2.bp.blogspot.com%2F-SR63t6LiVpo%2FUZwV3Cktc9I%2FAAAAAAAAICY%2FRhpM3m7KNJ8%2Fs1600%2Fdeer-in-headlights.jpg&t=663&c=hTBwgOusDHaV6Q)
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I was asleep when Bitcoin broke through $540 which would have been my buy-in confirmation target had it not been 4am where I am, when the break out happened. I was in and out near top (at small profit) just before the correction to $550. I never held my $571 position because I had a dream of Bitcoin correcting to $500.
ah, the perils of sleep. seriously, as a day trader, how do you effectively deal with trading a highly volatile market when a quarter to a third of your life involves you being unconscious and away from your screen unable to react? sure, you could try to automate your trades if a sudden move happens but that is very dangerous to your account especially with whipsaws. statistically, much of this volatility is going to originate from outside the US when you're asleep. better to HODL.
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I love Breakaways.
Everyone gets that deer in the headlights look.
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Gold Collapsing. Bitcoin UP.
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