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Frozenlock
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May 07, 2013, 10:32:36 PM |
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$110 is holding...
Quick bulls, do something, or we'll fall back down!
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Awhut
Newbie
 Offline
Activity: 28
Merit: 0
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May 07, 2013, 10:33:17 PM |
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They better sell before the others start  |
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adamstgBit
Legendary
Offline
Activity: 1904
Merit: 1037
Trusted Bitcoiner
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May 07, 2013, 10:34:35 PM |
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It needs to follow technicals, don't count on it going that much higher before it tests previous support one more time
its not going to test previous support unless at least 20,000BTC are sold |
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NamelessOne
Legendary
Offline
Activity: 840
Merit: 1000
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May 07, 2013, 10:34:53 PM |
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$110 is holding...
Quick bulls, do something, or we'll fall back down!
It's been a tense hour, but I just wasn't 'buying', lol, that 110 was going to fall. Aside from a pretty lame and desperate spike to push it up into 112. So far I've been right. We will see what happens, but I anticipate the drop will begin again. |
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Frozenlock
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May 07, 2013, 10:36:14 PM |
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We all are... except Adam and his pyramid scheme's wife  |
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fourkey2001
Newbie
Offline
Activity: 42
Merit: 0
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May 07, 2013, 10:38:16 PM |
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I doubt and reject this
cheers
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SAQ
Newbie
Offline
Activity: 56
Merit: 0
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May 07, 2013, 10:38:48 PM |
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$110 is holding...
Quick bulls, do something, or we'll fall back down!
It's been a tense hour, but I just wasn't 'buying', lol, that 110 was going to fall. Aside from a pretty lame and desperate spike to push it up into 112. So far I've been right. We will see what happens, but I anticipate the drop will begin again. When did you turn into a bear? Why would anyone spend money to spike the price up? |
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fourkey2001
Newbie
Offline
Activity: 42
Merit: 0
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May 07, 2013, 10:41:13 PM |
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It will drop to 90 this time  ) |
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NamelessOne
Legendary
Offline
Activity: 840
Merit: 1000
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May 07, 2013, 10:43:04 PM |
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$110 is holding...
Quick bulls, do something, or we'll fall back down!
It's been a tense hour, but I just wasn't 'buying', lol, that 110 was going to fall. Aside from a pretty lame and desperate spike to push it up into 112. So far I've been right. We will see what happens, but I anticipate the drop will begin again. When did you turn into a bear? Why would anyone spend money to spike the price up? I'm only temporary bear, been so for a couple days. I've been kinda bullbearish for a while. I'm mid and long term bull but I just don't feel this rise from 97 was warranted. Maybe I'll be wrong, I'll be happy either way! haha |
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Frozenlock
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May 07, 2013, 10:43:17 PM |
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Stupid $110 fight.  |
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SAQ
Newbie
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Activity: 56
Merit: 0
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May 07, 2013, 10:43:46 PM |
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Lool at the running fake walls
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fourkey2001
Newbie
Offline
Activity: 42
Merit: 0
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May 07, 2013, 10:44:19 PM |
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I am selling 100 BTC every 0.1 after 111 ...111.1 to 111.9
and recover my 900 which i bought at 98..
Cheers!
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NamelessOne
Legendary
Offline
Activity: 840
Merit: 1000
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May 07, 2013, 10:45:24 PM |
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The person pushing the price up could also be placing all the ask walls of 100. Trying to get people to buy them. There are people that have admitted to buying their own massive walls in order to create a bull rush/rally. These people have so much money they don't care about the fees of buying their own walls as long as they make more profit in the end.
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Rampion
Legendary
Offline
Activity: 1148
Merit: 1018
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May 07, 2013, 10:47:02 PM |
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It will drop to 90 this time ) It may be, but I'm putting my bids a little higher, I even bought a good chunk at 108ish after testing $110 the second time. Too many fake bears oversold and thriving to buy back at some point. Not very scientific but hey, you have to follow your intuition sometimes |
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oda.krell
Legendary
Offline
Activity: 1470
Merit: 1007
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May 07, 2013, 10:47:45 PM |
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No decisive movement yet, eh? Alright then, summary time. (sorry for the sloppy style, this is more or less stream of consciousness)
Ignoring the possibility of continuation of the horizontal trend (that'd be boring), what are arguments in favor of continuation of the correction, i.e. downwards trend (red line in my previous chart) vs. continuation of upwards trend (green line)
(1) forum sentiment: cautiously bullish ("I'll buy for sure when we get lower") seems to be quite prevalent
(2) post bubble, volume on the way down was significantly higher than on the way up. suggests selling pressure, but could also mean sellers are running out of ammo.
(3) EMAs: D1, H4 undecided (just crossed over from above), H1 still bearish, but tendency towards crossover from below.
(4) total trading volume (in USD) is maybe on the low end for what is necessary to support the long-term upwards trend. (pointed out by WackyWilly)
(5) re: converging trendlines, as pointed out by 100x, me, and others: post-bubble, bit more evidence for the downward trend (3 vs 2 points of contact)
(6) If supporting trend (green line in my chart) = January 9 long-term expon. trend, then we're a bit ahead, should be hitting 100 only mid-May.
(7) order book (yes, I know, fake walls everywhere): total bid/total ask: 105. average of price if all sold at current prices, all bought at current prices: 120.5
pro bull: 1, 7
pro bear: 2, 3, 4, 5, 6.
Hmmm... I don't like the way my own summary looks. My gut tells me we should be going up, but my little collection of evidence points to continuation of the correction.
/pseudoscience
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SAQ
Newbie
Offline
Activity: 56
Merit: 0
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May 07, 2013, 10:49:05 PM |
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The person pushing the price up could also be placing all the ask walls of 100. Trying to get people to buy them. There are people that have admitted to buying their own massive walls in order to create a bull rush/rally. These people have so much money they don't care about the fees of buying their own walls as long as they make more profit in the end.
I don't know. Reddit looks quite bullish. 40k subscirbers was passed today and it is already 40,116. Plus top headlines: Ex-Facebook Exec says Facebook Should Bring Bitcoin into the Mainstream. Wow! (businessinsider.com) Coinbase Nabs $5M in Biggest Funding for Bitcoin Startup - WSJ (blogs.wsj.com) How 23-year-old Charlie Shrem became a millionaire through Bitcoin (londonlovesbusiness.com) |
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adamstgBit
Legendary
Offline
Activity: 1904
Merit: 1037
Trusted Bitcoiner
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May 07, 2013, 10:50:04 PM |
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the trend is reversing, expect a slow climb with some sharp drops and recoveries as the bears commit suicide, once prohond come on and says something like "wow price is kinda high, good time to sell a few" thats when you know all the bears are dead, and the cost is clear  |
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fitty
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May 07, 2013, 10:50:19 PM |
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The person pushing the price up could also be placing all the ask walls of 100. Trying to get people to buy them. There are people that have admitted to buying their own massive walls in order to create a bull rush/rally. These people have so much money they don't care about the fees of buying their own walls as long as they make more profit in the end.
I have seen walls on both sides, that are suddenly dropped and the buying/selling plows into what is left. It seems to sucker people forward then the wall drops and its grabbed up. Even if a lot of the walls are fake they usually have the desired effect. |
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NamelessOne
Legendary
Offline
Activity: 840
Merit: 1000
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May 07, 2013, 10:51:02 PM |
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The person pushing the price up could also be placing all the ask walls of 100. Trying to get people to buy them. There are people that have admitted to buying their own massive walls in order to create a bull rush/rally. These people have so much money they don't care about the fees of buying their own walls as long as they make more profit in the end.
I don't know. Reddit looks quite bullish. 40k subscirbers was passed today and it is already 40,116. Plus top headlines: Ex-Facebook Exec says Facebook Should Bring Bitcoin into the Mainstream. Wow! (businessinsider.com) Coinbase Nabs $5M in Biggest Funding for Bitcoin Startup - WSJ (blogs.wsj.com) How 23-year-old Charlie Shrem became a millionaire through Bitcoin (londonlovesbusiness.com) This was enjoyable to read. My bullish instincts ignited a bit, lol. I still wouldn't mind a drop before our push upwards. |
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Rampion
Legendary
Offline
Activity: 1148
Merit: 1018
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May 07, 2013, 10:51:11 PM |
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No decisive movement yet, eh? Alright then, summary time. (sorry for the sloppy style, this is more or less stream of consciousness)
Ignoring the possibility of continuation of the horizontal trend (that'd be boring), what are arguments in favor of continuation of the correction, i.e. downwards trend (red line in my previous chart) vs. continuation of upwards trend (green line)
(1) forum sentiment: cautiously bullish ("I'll buy for sure when we get lower") seems to be quite prevalent
(2) post bubble, volume on the way down was significantly higher than on the way up. suggests selling pressure, but could also mean sellers are running out of ammo.
(3) EMAs: D1, H4 undecided (just crossed over from above), H1 still bearish, but tendency towards crossover from below.
(4) total trading volume (in USD) is maybe on the low end for what is necessary to support the long-term upwards trend. (pointed out by WackyWilly)
(5) re: converging trendlines, as pointed out by 100x, me, and others: post-bubble, bit more evidence for the downward trend (3 vs 2 points of contact)
(6) If supporting trend (green line in my chart) = January 9 long-term expon. trend, then we're a bit ahead, should be hitting 100 only mid-May.
(7) order book (yes, I know, fake walls everywhere): total bid/total ask: 105. average of price if all sold at current prices, all bought at current prices: 120.5
pro bull: 1, 7
pro bear: 2, 3, 4, 5, 6.
Hmmm... I don't like the way my own summary looks. My gut tells me we should be going up, but my little collection of evidence points to continuation of the correction.
/pseudoscience
Nice post bro. |
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