Get ready, major buy signal at this last profit taking correction.

[vssa]

Buy at BTC>48.15




**1 BILLION

...I might be wrong, in this case buy litecoins(at:https://vircurex.com/register?referral_id=274-2812)
 Because why would you want to move back to fiat ?



donate to LTC add: LRVbGXQ4nq7DFpkLkuvJwbY2LymSqQmbsV[
                   BTC add: 1HLYsbm7FVHwVCoDRS1z9kbvTy4LfjWNeD

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[TTBit]

Trillion?

[Sage]

Agreed.  Was seeing the same thing...  That is if it breaks above.

[Domrada]

Let's go get my billions.

[maxmint]

Care to elaborate a bit? I can't extract a reason to buy from this graph.

[rpietila]

Care to elaborate a bit? I can't extract a reason to buy from this graph.

There is a resistance on that price level, because the previous break out attempt was stalled there.

However, I believe there is more resistance between $48.15-$50 and will not commit my fiat any more to this market until one of the following happens:

- We break $50
- We break $40
- One month passes without either happening.

[samson]

Buy at BTC>48.15

There's a large (9241 BTC) sell wall at $48.55

If this wall falls then I could see it rising beyond $49 but for me it wouldn't be worth buying before that wall is gone as it will force down the sell price when it's reached.

As for LTC, it should crash but I doubt it will go back down to 8 cents. I have an order in already.

[ineededausername]

Anyone notice the depth to $50 has dropped a significant amount since last night?  42k BTC -> 36k BTC.
Meanwhile, we have record depth to $40 (59k BTC)...

[nobbynobbynoob]

As for LTC, it should crash but I doubt it will go back down to 8 cents. I have an order in already.

The graph shown is LTC/BTC, and the red line is at about 8 mBTC per Ł. That might correspond to about US$0,40 or so per Ł, assuming the BTC price is stable meantime.

[samson]

As for LTC, it should crash but I doubt it will go back down to 8 cents. I have an order in already.

The graph shown is LTC/BTC, and the red line is at about 8 mBTC per Ł. That might correspond to about US$0,40 or so per Ł, assuming the BTC price is stable meantime.

A good point

[yokosan]

Anyone notice the depth to $50 has dropped a significant amount since last night?  42k BTC -> 36k BTC.
Meanwhile, we have record depth to $40 (59k BTC)...

Oh yes. We noticed.

[Sage]

Care to elaborate a bit? I can't extract a reason to buy from this graph.

The key thing I look at is the psychology that shows itself in the charts, not just simple technical analysis.

The key points I see are first, the major drop and quick recovery.  If there ever was going to be something that would pop a bubble it was that event.  Yet it didn't happen.

That's a good indication there are strong long-term fundamentals holding the market up.  The quick rebound also gives a good clue to the market psychology.

The long consolidation period and low volatility after the volatility period from the 11-14 while the market was making sense of what happened also suggests we are not topping.   

My call right now... the market is taking a breather from the unsustainable momentum increase since the 5th.  (Which is a good thing).  If it breaks topside resistance expect another surge.

Having said that, the steep momentum increase that started on the 5th had me very nervous.  Still a little nervous now.  Tops are always preceded by a steep momentum increase.  But the last consolidation period and low volume has me breathing a little easier.

[afbitcoins]

I'm still thinking we'll consolidate for a little while yet. This is my latest chart taken from my blog.



From the look of it the price is still treading water just below resistance and it looks like price is approaching somewhere near the middle of the channel I’ve been drawing. There may be some support from that middle line, will it propel the price up through resistance? Perhaps not, however this wedge is slowly closing and as I’ve said before should be resolved before the end of March.

In a way I think the fact that price is consolidating sideways instead of falling is another bullish sign that there is plenty more fuel for higher prices yet.

[Beta-coiner1]

Anyone notice the depth to $50 has dropped a significant amount since last night?  42k BTC -> 36k BTC.
Meanwhile, we have record depth to $40 (59k BTC)...

Yeah,I think the resistance seems to increase substantially during the week and lessens during the weekend.

[yokosan]

Anyone notice the depth to $50 has dropped a significant amount since last night?  42k BTC -> 36k BTC.
Meanwhile, we have record depth to $40 (59k BTC)...

Yeah,I think the resistance seems to increase substantially during the week and lessens during the weekend.

The resistance to $48 is $200k less now than it was this time yesterday.

Once the wall tumbles...we are going cataclysmic, transatlantic, intergalactic, UP! UP! UP!

This is not a drill! I repeat this is not a drill!

[samson]

I wouldn't be surprised if once that wall at $48.00 starts coming down someone buys it all.


I've noticed this several times before, someone will wait until a large wall starts to fall, then they buy it all up. If they had any confidence you would think they'd buy before it hit the wall when it was cheaper.

[samson]

LOL, I didn't think it would happen that fast.

[catcow]

here we goooo.....

[Peter Lambert]

I wouldn't be surprised if once that wall at $48.00 starts coming down someone buys it all.


I've noticed this several times before, someone will wait until a large wall starts to fall, then they buy it all up. If they had any confidence you would think they'd buy before it hit the wall when it was cheaper.

But by waiting until the wall is on the table, they can make a massive buy in one big blow, thus nabbing a large amount of coins before the market can react. If they start buying below the wall, then whoever put the wall up will have warning that the bids are coming and they will raise their wall higher. I guess it is just a matter of how quickly the bots can react and how much lag MtGox gives.

[smoothie]

+1 very good call buddy