(Bitstamp figures used) If we set the beginning of the current upmove to $122, which was the base in early October, and the high point to $205.4, we have the following Fibonacci levels:

1st: $173.5
2nd: $153.9
3rd: $141.7

I have been successfully trading but watching the 2nd level almost always. If we are talking about a daily move, the base is the plateau in the last 12-24 hours, if medium-term move, the base is the last consensus when price was flat for several days or weeks.

We already touched $157 and now the price is going up with a vengeance. There are several scenarios:

- Price will continue to go up, and surpass the intermediate high of $205 in a few days, so that this will be remembered as a flashcrash. In February-March we had several of them, shaving off 20-30% of the price but leaving no mark except on those who sold out and did not manage to buy back in.

- Price will fall back to where we started ($120s), which questions the viability of the whole supposed uptrend or this October, turning it to a bull trap. meh87 is advocating this.

- We are currently experiencing a Fibonacci retracement on our way to higher highs. This would point to a reasonable probability of revisiting $150s, and underline the support found there. If I had money in the exchange, I would try to fish from there, and not hope for going any lower. If several days pass and the uptrend is resumed, the scenario still holds but the opportunity to buy has already passed.

I don't know what you are smoking but I want some. I thought silkroad closed .

After Aprils crash, tonight was nothing.. Reminds me more of the 20%+ drops we had with the price rising.. Not to sound like an uber bull but if come tomorrow morning the market is trading right back where it was (230 Gox 205 Stamp 1325 BtcC) or slightly below we should have a pretty significant rally...

Warp drive would be $10k instant

Will somebody mention the difficulty jump from 7,673,000 in April to 267,731,249 today and above 350,000,000 in 3 days tops?
if the price was above 200$ with ~8mil difficulty where should it be today?

P.S. I'm Greek by the way

This sounds about right.

ya i saw this coming days ago, I'm so good at this speculation thing, its not even funny  

this is an interesting graph, it's started to move up against btc the last few hours

http://bitcoinwisdom.com/markets/btce/ltcusd

what are the implications of this

Did you mean to roll your eyes?   

I like the way the second one looks as well, though it seems to lack the square aspect ratio of most icons.