is something starting?

I see 15k BTC of new bids in the mid $6 range.

Shit, shit! Bidwalls going up!

It really is impossible without access to a blockchain... you're right; you wouldn't know the inputs.

As for the rest, I'm not enough of an expert to tell you.

We didn't have similar behavior at $4.  The technicals weren't as weak back then as now, and the bullish wedge was much more visible.  
$7.2->$9 is entirely possible, but right now I'm slightly bearish.  Both bears and bulls are waiting for confirmation at this point.


I agree that we could easily go either way... it only takes one more spike to invalidate my hypothesis.  It also takes one profit taker to confirm my hypothesis.

Right now, I'll stay cautiously bearish until further confirmation.  I am taking no position on Bitcoinica and I do not recommend shorting with leverage.

edit: Just noticed another head and shoulders... except bullish.  Current situation is damn confusing.

+1

Hmm, interesting.  Someone should do this... complete with nice warnings for newbies.  Also, there should be no blockchain download... Electrum is nice.

I think if you short right now, put a stop at 7.2 and go long at 7.3, you can't possibly lose. 

We will be moving out of this perpetual $6.25-7.22 range soon enough.  MACD is crossing down and there's an obvious head & shoulders pattern.  The long-term support is getting close to the $7-7.2 resistance, and bearish signals are starting to show up, so it looks like it's more likely for the long-term support to break.

My opinion is that the TV show won't do too much, and if it causes new money to come in at all, it won't come instantly.  Look out for a reasonably large correction before the rally continues.

You'll get wiped out with 50% chance if we go to 7.2.  You should reconsider.

no fucking way

oh lawd, you had me scared there

wow...

We're beginning to rally.  I suspect we'll be going over 7.2 soon, but it's rather unpredictable.

One thing is clear.  Just before it breaks 7.2, go long 10:1.

I just want to note that if we get another spike of the same magnitude as the previous two, it could break resistance at 7.2 and carry us all the way to 8.  However, we'll have to wait and see.

6 posts away from an important milestone!

This is the deciding moment for this rally.  Everyone, watch this weekend closely.  Anything from $5 to $9 is possible.

As someone mentioned above, it may not hash well per dollar, but its resale value is higher.

Below long-term trendline: Short
Above 7.2: Long

And one of these will happen very soon... within this week.  This is the biggest bullish wedge ever, and it'll be fun to watch, whichever way it goes.

One day left.