da2ce7
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Live and Let Live
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April 30, 2011, 02:46:30 PM |
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Here is a special Bitcoin technical update,given the very strong, but potentially overheating trend.
Keep up the great work! Donated 5btc  One quick question, when do we know if it has clearly broken out of the price channel? If we keep in this price channel the market really cannot move to $5 till July... |
One off NP-Hard.
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"I'm sure that in 20 years there will either be very large transaction volume or no volume." -- Satoshi
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coined
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April 30, 2011, 04:34:27 PM |
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some dude just bought everything up to $4.15 i think, he didnt read the technical analysis obviously  |
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LZ
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P2P Cryptocurrency
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April 30, 2011, 04:52:24 PM |
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He just will sell at $5 or higher.
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My OpenPGP fingerprint: 5099EB8C0F2E68C63B4ECBB9A9D0993E04143362
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Ian Maxwell
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April 30, 2011, 04:54:23 PM |
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Jesus christ what was that?  I apparently put a sell order at 3.4658 last night thinking that was about where the spike would go if it went above 3. Let's find out just how far off I was. |
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deadlizard
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April 30, 2011, 04:55:40 PM |
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some dude just bought everything up to $4.15 i think, he didnt read the technical analysis obviously there goes the Kuwaiti dinar  |
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coined
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April 30, 2011, 05:02:21 PM |
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He just will sell at $5 or higher.
thats some good specifics right there, thanks for that info , so he will sell between $5 and ANY NUMBER ABOVE $5 AT ANY DATE!!! |
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LMGTFY
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April 30, 2011, 05:07:06 PM |
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Here is a special Bitcoin technical update,given the very strong, but potentially overheating trend.
Keep up the great work! Donated 5btc One quick question, when do we know if it has clearly broken out of the price channel? If we keep in this price channel the market really cannot move to $5 till July... On the hourly chart (the one S3052 was using) the price needs to close one hour above the channel. If it breaks above the channel and then falls back within the same time-period, it hasn't broken out. (So, in this case, there has been a break above the channel, as the time period - the hour - has ended with the closing price above the channel). ...at least, that's how I understand it. I hope S3052 will see me right if I'm wrong! |
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proudhon
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April 30, 2011, 05:20:17 PM |
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Here is a special Bitcoin technical update,given the very strong, but potentially overheating trend.
Keep up the great work! Donated 5btc One quick question, when do we know if it has clearly broken out of the price channel? If we keep in this price channel the market really cannot move to $5 till July... On the hourly chart (the one S3052 was using) the price needs to close one hour above the channel. If it breaks above the channel and then falls back within the same time-period, it hasn't broken out. (So, in this case, there has been a break above the channel, as the time period - the hour - has ended with the closing price above the channel). ...at least, that's how I understand it. I hope S3052 will see me right if I'm wrong! I just want to make sure I understand things correctly. If there's a break above the channel (that last longer than an hour), then we're in a rally, and prices will likely go quite a bit higher. Is that right? On the other hand, if there's a break below the lower trend line, then we'll see a prices go down significantly. Am I getting this right? |
Bitcoin Fact: the price of bitcoin will not be greater than $70k for more than 25 consecutive days at any point in the rest of recorded human history.
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LMGTFY
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April 30, 2011, 05:24:41 PM |
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I just want to make sure I understand things correctly. If there's a break above the channel (that last longer than an hour), then we're in a rally, and prices will likely go quite a bit higher. Is that right? On the other hand, if there's a break below the lower trend line, then we'll see a prices go down significantly. Am I getting this right?
All I can comment on is what constitutes a break, but yes, that's my understanding of S3052's analysis. Incidentally, it's not so much that the break above lasts more than hour - simply that when one time period ends the price is above it. The price could, say, go above the channel at 1 minute past the hour, then fall back below at 59 minutes past, and that wouldn't be a break. On the other hand, if the price went above at 59 minutes past - and remained there for >1 minute - then that would be a break. Again, this is just my understanding of technical analysis and I am by no means knowledgeable. |
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Prze_koles
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April 30, 2011, 05:30:04 PM |
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This week we have pure speculation and technical analysis are badly inaccurate.
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1FzTJh1C58m1gqnNzxLTt2ryNYkuk1YdfN
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deadlizard
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April 30, 2011, 05:33:03 PM |
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Prze_koles beat me to it, lol the fundamentals are making the technicals worthless (worth less?  ) |
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coined
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April 30, 2011, 05:43:19 PM |
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moa got it right i think, were in uncharted territory here, alot of these buyers might never have even known what a bitcoin was two weeks ago, its not like a normal market in that sense. maybe the new price is normal given the new amount of people that know about it, the old growth estimate just got the increased awareness wrong?, its like finding a new packed continent on earth and the people have never heard of gold and now they want to buy... that may just mess up your projections, or maybe not since i'm just a twit thinking out loud  |
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proudhon
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April 30, 2011, 05:59:44 PM |
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moa got it right i think, were in uncharted territory here, alot of these buyers might never have even known what a bitcoin was two weeks ago, its not like a normal market in that sense. maybe the new price is normal given the new amount of people that know about it, the old growth estimate just got the increased awareness wrong?, its like finding a new packed continent on earth and the people have never heard of gold and now they want to buy... that may just mess up your projections, or maybe not since i'm just a twit thinking out loud This is kind of what I'm beginning to think is going on. We've all just underestimated the exposure and the interest people have in bitcoin. Interest may be increasing more than the community thought a few weeks ago, and, as a result, the population of buyers has increased sufficiently relative to the supply. In which case, this isn't a speculative bubble. |
Bitcoin Fact: the price of bitcoin will not be greater than $70k for more than 25 consecutive days at any point in the rest of recorded human history.
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kiba
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April 30, 2011, 06:03:04 PM |
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Remember, we're reaching a new norm of a thousand posts a day. That mean 30,000 posts every month.
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deadlizard
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April 30, 2011, 07:04:41 PM |
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Remember, we're reaching a new norm of a thousand posts a day. That mean 30,000 posts every month.
+1 |
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S3052 (OP)
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April 30, 2011, 07:12:38 PM
Last edit: August 04, 2017, 07:33:07 PM by S3052 |
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marcus_of_augustus
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Eadem mutata resurgo
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April 30, 2011, 09:38:41 PM |
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We are above the channel trendline in both, normal (1.6$) and log scale (around 3$). We've gone super-exponential .... seller's strike continues, the question is at what price do the big seller's come out of the woodwork? Those guys have mined the first 2.5 million coins for example. |
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FatherMcGruder
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April 30, 2011, 09:48:41 PM |
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We've gone super-exponential .... seller's strike continues, the question is at what price do the big seller's come out of the woodwork? Those guys have mined the first 2.5 million coins for example.
They're not going to buy dollars. They're going to buy a heroic amount of shrooms. The dealers will hold on to much of those bitcoins because the raw materials for shroom production are cheap. Therefore they'll sell the bitcoins slowly on an as needed basis. |
Use my Trade Hill referral code: TH-R11519 Check out bitcoinity.org and Ripple. Shameless display of my bitcoin address: 1Hio4bqPUZnhr2SWi4WgsnVU1ph3EkusvH |
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coined
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April 30, 2011, 10:02:47 PM |
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ah the mysterious first generation miners, are they over the moon with joy today? or are some of them on suicide watch after the recent rally's since they sold 500k BTC for a pencil...
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Cheeseman
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May 01, 2011, 04:41:15 AM |
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It should be interesting to see how investors react to MTGOX being down for three days. Apparently they will be back up by Monday, but it still doesn't look good. Plus coinpal going down indefinitely around the same time sucks as well.
My guess is that we will have several days of fear selling followed by a strong rally back up. I sold all of my BTC onto #bitcoin-otc for around $3.50 per BTC just now...I plan to use those profits to buy back into the market at a lower price.
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