I have reason to believe there is a correction happening

[mobodick]

Doubt not my wisdom

Doubt anyone claiming to speak wise.
  V

[notme]

Doubt not my wisdom

Doubt anyone claiming to speak wise.
  V

Doubt not lest ye be doubted.  Oh wait, that's for judgement, not doubting.

[jojo69]

Just as I thought, a thread in clear violation ignored while other threads are deleted on a stylistic whim.

Carry on, nothing to see here...

[bitcoinbear]

People are buying it up ~12, therefore it goes up from here, not down.

My 2 satoshis

Here's why your reasoning is lacking: There's more or less 300 BTC above 12 USD. That is not a strong resistance at all. Below 12 USD, there's no support until 11.80. The buys you are referring to are miniscule. The day is only starting.

Even if you there are people buying, the sentiment right now is bearish. There were still major selloffs this morning and yesterday. Things may change Monday when the banks open depending on other factors but with GLBSE gone, I think things may remain bearish.

I see no reason for people to go crazy over buying Bitcoins this time of year.

Are you looking at the current orderbook and trying to call the movement from it? There are so many bots living on there, the orderbook can change directions without notice.

Also, you say only 300 btc, is that just on one exchange?

Why should the time of year have anything to do with bitcoin price?

[pretendo]

I am predicting we get a rally up to about 12.40.

[lebing]

I am predicting we get a rally up to about 12.40.

More like 12.25 before another plunge probably

[Comodore]

I am predicting we get a rally up to about 12.40.

More like 12.25 before another plunge probably

Plunge to about 11.3 and then there will be about two day high volatility. And stabilization about 11.8. I expect.

[Mushoz]

I am predicting we get a rally up to about 12.40.

I am predicting we get a rally up to about 12.40.

More like 12.25 before another plunge probably

Pretty close predictions, good job

[pretendo]

12.35 it looks like. I will take a 5 cent error as a victory

[lebing]

I'm doubting the stability. Still think we have more correcting to do before anything resembling stability arrives.

[tHash]

Instability, probably.   More correcting?   I think that it already over-corrected by a bit.   This was more a manipulation than correction.

[Mushoz]

Instability, probably.   More correcting?   I think that it already over-corrected by a bit.   This was more a manipulation than correction.

How so? I didn't notice many things that resembled manipulation. No huge walls or something like that. The movements seemed pretty natural.

[firefop]

Doubt not my wisdom

Good luck selling that.

A correction isn't a trend - with everything going on, volume of trades can break support more easily than it can resistance. Especially since the average use doesn't doesn't place long term orders. And small time miners supply the majority of the resistance.

That being said, I'd be shocked if we see anything being traded under $10. It can only trend up as the USD continues to fall.

[notme]

Doubt not my wisdom

Good luck selling that.

A correction isn't a trend - with everything going on, volume of trades can break support more easily than it can resistance. Especially since the average use doesn't doesn't place long term orders. And small time miners supply the majority of the resistance.

That being said, I'd be shocked if we see anything being traded under $10. It can only trend up as the USD continues to fall.

Can you show me a chart of this mythical falling USD?

[jwzguy]

Doubt not my wisdom

Good luck selling that.

A correction isn't a trend - with everything going on, volume of trades can break support more easily than it can resistance. Especially since the average use doesn't doesn't place long term orders. And small time miners supply the majority of the resistance.

That being said, I'd be shocked if we see anything being traded under $10. It can only trend up as the USD continues to fall.

Can you show me a chart of this mythical falling USD?

http://www.thestreet.com/story/11734589/1/gold-prices-climb-on-weaker-us-dollar.html

[notme]

Doubt not my wisdom

Good luck selling that.

A correction isn't a trend - with everything going on, volume of trades can break support more easily than it can resistance. Especially since the average use doesn't doesn't place long term orders. And small time miners supply the majority of the resistance.

That being said, I'd be shocked if we see anything being traded under $10. It can only trend up as the USD continues to fall.

Can you show me a chart of this mythical falling USD?

http://www.thestreet.com/story/11734589/1/gold-prices-climb-on-weaker-us-dollar.html

So gold gained $5/oz today... who cares?  It lost a dollar yesterday, and it lost $14 the day before.  The one year gold chart shows a whole lot of going nowhere, and the one year DXY chart looks more up than down.  The 5 year DXY shows we've been bouncing around 80 since the '08 crisis: http://www.marketwatch.com/investing/index/dxy
Debt has only increased since then, so demand for dollars (to make payments) is rising.  I don't care how much Bennie prints and hands to the bankers, it won't cause inflation because the banks are hording it.  If he handed out money to the people we might see some inflation, but I don't see that happening any time soon.

Go look at Japan's economic history.  There are some lessons to be learned, and those who understand them will do well in the US economy in the next few decades.

[firefop]

So gold gained $5/oz today... who cares?  It lost a dollar yesterday, and it lost $14 the day before.  The one year gold chart shows a whole lot of going nowhere, and the one year DXY chart looks more up than down.  The 5 year DXY shows we've been bouncing around 80 since the '08 crisis: http://www.marketwatch.com/investing/index/dxy
Debt has only increased since then, so demand for dollars (to make payments) is rising.  I don't care how much Bennie prints and hands to the bankers, it won't cause inflation because the banks are hording it.  If he handed out money to the people we might see some inflation, but I don't see that happening any time soon.

Go look at Japan's economic history.  There are some lessons to be learned, and those who understand them will do well in the US economy in the next few decades.

You understand QE started killing japans economy ~20 years ago... but you claim the dollar isn't losing value... Look at any forex pair since 2008, you'll see the trends.

[Cranky4u]

So gold gained $5/oz today... who cares?  It lost a dollar yesterday, and it lost $14 the day before.  The one year gold chart shows a whole lot of going nowhere, and the one year DXY chart looks more up than down.  The 5 year DXY shows we've been bouncing around 80 since the '08 crisis: http://www.marketwatch.com/investing/index/dxy
Debt has only increased since then, so demand for dollars (to make payments) is rising.  I don't care how much Bennie prints and hands to the bankers, it won't cause inflation because the banks are hording it.  If he handed out money to the people we might see some inflation, but I don't see that happening any time soon.

Go look at Japan's economic history.  There are some lessons to be learned, and those who understand them will do well in the US economy in the next few decades.

You understand QE started killing japans economy ~20 years ago... but you claim the dollar isn't losing value... Look at any forex pair since 2008, you'll see the trends.

Dont forget to comapre USD against other fiat to get a resounding picture of the falling USD. In Australia, in ~3yrs we have climbed from ~USD$0.70 up to ~USD$1.10 and have settled for the past few months around the USD$1.05 mark with no end in sight. This hurts my BTC operation as BTC > USD > AUD used to get me an extra 30% just on the exchange rates.