So, are we going up or down?

[deathcode]

Stuck between 40-45 for the past 10 hours

I want to heard the voodoo from people... what's the next move? UP or DOWN?

[1714762132]

1714762132

[evolve]

First one direction, then the other. 

[Richy_T]

Stuck between 40-45 for the past 10 hours

I want to heard the voodoo from people... what's the next move? UP or DOWN?

Yes.

[Hexadecibel]

Stuck between 40-45 for the past 10 hours

I want to heard the voodoo from people... what's the next move? UP or DOWN?

Yes.

Omnidirectional price movement

[MatthewLM]

I haven't got a clue. I'd rather just hold onto my bitcoins until I need to sell them. I'm hesitant to sell since intersango has lost a lot of liquidity and trust from people after the bitcoinica incident, and I don't like the idea of selling for GBP on any other exchange. I'm worried about ridiculous fees and security issues. I guess I can always store GBP on MtGox without a bank transfer and buy bitcoins back in the future. Yet I'm unsure as to if selling is a good idea regardless. Bitcoin is very volatile, so best to buy when on dips and then sell when you need to, rather than speculate, I think.

[granolageek]

Stuck between 40-45 for the past 10 hours

I want to heard the voodoo from people... what's the next move? UP or DOWN?

The best thing for bitcoin's long term growth would be several days. That run from 30 to 49 was dangerously fast even on a log plot.

[piramida]

Set sell orders at 49 and buy at 34 and just wait for all of them to fill eventually.

[Richy_T]

Stuck between 40-45 for the past 10 hours

I want to heard the voodoo from people... what's the next move? UP or DOWN?

Yes.

What a committed answer!!!

Jeez, man... OK...

Definitely yes!

[mr chong]

Stuck between 40-45 for the past 10 hours

I want to heard the voodoo from people... what's the next move? UP or DOWN?

Yes.

Omnidirectional price movement

Where are all the trolls to predict crashes and millionaires overnight when you need them?

You may think being a troll is all fun like sitting on the beach drinking beer but it is actually hard work so they are taking the rest of the week off so they can be rested up and ready for the next move up.

[rpietila]

Set sell orders at 49 and buy at 34 and just wait for all of them to fill eventually.

This is close to what I would regard sensible (absent capital gains tax, that is...)

My gut told that there should be some resistance around $32 because it was the all-time-high for 2 years. That resistance was taken decisively and the price moved up. But it is improbable to go straight up, so a breather is necessary every once in a while.

Now as the uptrend is shaken anyway, is a good chance to go revisit the area between $25-$35 and find support and stability there. As the price is still way above $40, I believe selling now and starting to buy back at $35 and less is a good idea.

My only concern is the opposite scenario. There will need to be a stop loss in place should we go above $52 or so.. to buy back the coins sold if the call was false.

[Vladimir]

Bitcoin always goes only up. It is just a matter of time-frame and patience i.e. it only depends on how long you are willing to wait.

[mccorvic]

If Mt. Gox can keep it's shit together, up.  It seems people stop buying when the lag hits, but people get scared about not knowing what's happening and sell to be on the safe side.  I blame Gox for bringing us below $45 again.

[MatthewLM]

If Mt. Gox can keep it's shit together, up.  It seems people stop buying when the lag hits, but people get scared about not knowing what's happening and sell to be on the safe side.  I blame Gox for bringing us below $45 again.

I haven't experienced this myself but it seems many people were complaining yesterday, so this may have some element of truth in it.

[Richy_T]

If Mt. Gox can keep it's shit together, up.  It seems people stop buying when the lag hits, but people get scared about not knowing what's happening and sell to be on the safe side.  I blame Gox for bringing us below $45 again.

Time for another exchange, maybe? Nothing wrong with a bit of competition and it means less chance of a single point of failure.

You may well be right. I know if I started losing control of my funds, I would be looking to get them out ASAP.

[mccorvic]

If Mt. Gox can keep it's shit together, up.  It seems people stop buying when the lag hits, but people get scared about not knowing what's happening and sell to be on the safe side.  I blame Gox for bringing us below $45 again.

Time for another exchange, maybe? Nothing wrong with a bit of competition and it means less chance of a single point of failure.

You may well be right. I know if I started losing control of my funds, I would be looking to get them out ASAP.

I don't trade on Mt.Gox directly, so if everyone wants to move that's fine by me!

[piramida]

I did move out whatever I had for trade at gox to several other exchanges. Let's see which one gets hacked first

[Richy_T]

I don't trade on Mt.Gox directly, so if everyone wants to move that's fine by me!

Nor I. I wasn't proposing abandoning mtgox either, just that there appears to be an opportunity for someone to take advantage of.

[Hyena]

we find that the USD volume trends appear very similar. If we assume, most reasonably , that similar price trends will follow, then we can expect a rise to $400-$450 by April, followed by a 5 month decline to a hard floor of $30 (and in two years the whole thing will repeat and we will shoot to $9k!).

That's exactly what I've been thinking.

[zkay]

we find that the USD volume trends appear very similar. If we assume, most reasonably , that similar price trends will follow, then we can expect a rise to $400-$450 by April, followed by a 5 month decline to a hard floor of $30 (and in two years the whole thing will repeat and we will shoot to $9k!).

That's exactly what I've been thinking.

If that's going to happen, the price is going to have to start gapping wildly upwards pretty soon here.

[Bit_Happy]

Good question:
* We will be retesting the high of 49.03.
* Panicking sellers will be retesting the low of 33.30.

First one direction, then the other. 

Yes, both.