Do you think the rally is over now... or very soon?

[Nesetalis]

You might be right. I almost wish I was trading on MtGox right now, sadly Virwox lags behind and never peaks quite as high or dips quite as low. Safer bet, but less room for huge profit.

[Peter Lambert]

"Do you think the rally is over now... or very soon?"

Yes, I think the rally will be over soon, time wise.

In previous run ups there has consistently been a steeply increasing price just before the top. The past day or so has seen a large acceleration of the price climb. Therefore, I beleive we are nearing the top and in the next couple days the price will continue shooting up to new heights and then drop back some. After the incline breaks, there will be consolidation and a stabilizing price for some time.

[Spaceman_Spiff]

You might be right. I almost wish I was trading on MtGox right now, sadly Virwox lags behind and never peaks quite as high or dips quite as low. Safer bet, but less room for huge profit.

You are assuming that Mtgox lets you trade at the top moments.  The reality is it takes 15 minutes just to cancel an order, god knows where the price will be when your order gets through.

[molecular]

You might be right. I almost wish I was trading on MtGox right now, sadly Virwox lags behind and never peaks quite as high or dips quite as low. Safer bet, but less room for huge profit.

You are assuming that Mtgox lets you trade at the top moments.  The reality is it takes 15 minutes just to cancel an order, god knows where the price will be when your order gets through.

exactly... what happens when 1000 blind monkeys hit buy/sell keys? Right: VOLATILITY

[Nesetalis]

yay! crash!... aw.. its over.

[Peter Lambert]

yay! crash!... aw.. its over.

Meh, bear trap again. All the people who have been holding bitcoins wanting to sell them are dumping them to the people who want bitcoins, so now there will be little supply and the price will shoot upwards again.

[johnyj]

The rally is over, finally 

[molecular]

The rally is over, finally 

I wouldn't be so sure.

[Ichthyo]

honestly, did anything happen for real, yes?

We know before that the bitcoin protocol is resillient even against some flaws in the concrete bitcoin software, and we witnessed a practical demonstration of this. Fine. Maybe we even get a red candle for today out of this, which would strengthen our current position. Moreover, hopefully anyone believing we'll see $200 next week will come back to reality.

But beyond that, I don't see in what way the fundamental situation would have been changed, right now.

[zyphus]

I agree, I also don't think creating walls is very healthy to promote trade amongst new or existing members.

[Domrada]

The rally is over, finally 

HA!

good one

 

[phatsphere]

The rally is over, finally 

HA!

good one

 

once in a while, bears also have their laughter. be prepared: SELL SELL SELL.

[BitPirate]

A temporary weekend blip at worst.

Good luck jumping back on the train when it's heading for $60 next week.

BUY BUY BUY

[yokosan]

A temporary weekend blip at worst.

Good luck jumping back on the train when it's heading for $60 next week.

BUY BUY BUY

Yet it's not even the weekend yet.

Meanwhile the wall at $48 gets stronger and stronger.

Not time to buy just yet.

[afbitcoins]

Yes it is possible the rally is over because we are near the top of a long term rising channel. However I personnally think the rally is not over yet, there could be a breakout past $50 in the near future and then much higher prices to come.

From my blog



I think we'll get t third attempt to breakout, which if it fails will rebound back strongly yet again, we'll breakthrough at some point in the near future.

[rpietila]

There is a huge resistance now in $48-49. Rather pointless to buy short term now. For long-term accumulation (especially with megabuck$) this is a good area with stable prices.

The support is around $30 and inching up. I don't really see a crash right now towards the support line, but my inability to see has never stopped the crash from happening.

Imo, many want to sell as the rally has stalled. They will find buyers at around these levels for weeks to come. When $40 or $50 is breached, we will see some serious price action

[klee]

Yes it is possible the rally is over because we are near the top of a long term rising channel. However I personnally think the rally is not over yet, there could be a breakout past $50 in the near future and then much higher prices to come.

From my blog



I think we'll get t third attempt to breakout, which if it fails will rebound back strongly yet again, we'll breakthrough at some point in the near future.

AF I really liked your blog and posted your last entry in a fb group I am admin (Bitcoin Greece).

Keep up posting there I will cover you...

[afbitcoins]

AF I really liked your blog and posted your last entry in a fb group I am admin (Bitcoin Greece).

Keep up posting there I will cover you...

Thanks klee I appreciate your comment very much

I think bitcoins could become very important in the future particularly in countries such as Greece which are being oppressed via control of money, ie the euro in that instance.

[yokosan]

I've said it before and I will say it again.

If the price is to rise, who the fuck is buying?

I do believe bitcoin can rise $1k+ but that will NEVER happen when buyers are dependant on exchanges like mtgox.

The explosion begins once aunt jane can buy it with her credit card and bitcoin addresses are as simple as jane@coinbank.btc

[rpietila]

Institutions such as this one will pop up, and start buying in lots of $million:
https://www.silverbank.net/

I've said it before and I will say it again.

If the price is to rise, who the fuck is buying?

I do believe bitcoin can rise $1k+ but that will NEVER happen when buyers are dependant on exchanges like mtgox.

The explosion begins once aunt jane can buy it with her credit card and bitcoin addresses are as simple as jane@coinbank.btc