I doubt that - I think you are long with a huge leverage and afraid that people start selling.

Thanks - I improved my post

What is exciting in such a lame parody?  And what is new in this kind of caricature after the first 3 attempts?

Have you sold?

Some people get nervous.

Agreed - but what is most probably now is that it will test 5.8 first.

How about the middle point between 2 and 7?

I wonder if there will be another intervention when it drops to 6.4 again.

Personally I was waiting for one more rally in this wave before the monthly scale correction (https://bitcointalk.org/index.php?topic=58515.0) - but it does not seem likely any more.

No much waves counting recently - so here is my humble attempt.  My conclusion is that we finished a monthly scale wave and are now for a monthly scale correction - but there is one detail that is not fitting.

So here are the pictures:


This is the big picture - we have finished the correction after the first wave and are now into the 3rd wave (that means up up up). And this is what was going on in latest weeks:



 We had clear, finished 4 waves (1 impulse, 2 correction, 3 impulse, 4 triangle correction).  The only question is is the 5th wave finished?  If it is then we'll have a multi-week correction, if not then we might yet reach 10 in a few days.  Let's see the last wave in more details:



So we had pretty clear 1, 2, 3 and 4 waves - but no 5th.  My personal theory is that it failed, most probably because USD shortages on bitcoinica removed the momentum from the upward move.  If it is so - then we are now for the correction.  But maybe we are still in the 4th wave?

I am still undecided myselfj.  I have sold half of my BTC - it's not very rational profit maximizing strategy - but at least I'll be able to reconcile myself if the price go any way.

Some people learned at CES about bitcoin and liked it, then they will be reminded about it with the TV show on Saturday.  They'll start thinking about playing it next week and make the decision to try it out in two weeks, start playing with small money in 3 weeks and test it for another month.  In about 2 months some of them will be ready to invest some real money and this will make a huge difference.  But in the mean time many leveraged bitcoinica positions will be wiped out.

The problem is that it was all levereged.  bitcoinica frequently shows * at the buy button, even now after the fist sell offs (at least after mine sell off), they used all their USDs and now you cannot buyBTC using bitcoinica.  The trend lost momentum.  Deleveraging will probably generate much momentum in the opposite direction - by forced liquidations, but who knows.

The current problem is that bitcoinica again shows * at the buy button - all bitcoinica USD is spent.  Some will liquidate their bitcoinica positions and then some others will use the freed USD to go long - but it will not push the price any higher.  We need to wait with the rally until new money arrives to MtGox - and in the mean time a  correction is coming.

Ha ha - only tell us when you do it!

I was selling at 7.10 - 7.20 last time and I do not plan to do that this time.

From what I've seen Zhou executes the limit orders at his price - that is with margin, he does not put those orders directly on MtGox - but rather he waits until matching orders are stacked there.

Ha ha - you reminded me to remove my 'price stabilizing bid walls' when I walk away from the computer

Hmm - and now it seems to be impossible to do!  MtGox is goxing again.

The Good Wife promo on Youtube: http://www.youtube.com/watch?v=2BwzF7nhq48

It is very characteristic that all threads like this one were started after the correction was virtually over and just before the current rally.

The rally was from 4.7 to 7.2 - now it retraced to 6 in a typical zigzag pattern.  Any Fibonacci number fits?