Dalib
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June 18, 2013, 12:32:27 PM |
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With all the speculators on this forum claiming to have sold out waiting for 50, it was pretty obvious we weren't going anywhere near there (barring a major news event that causes a fundamental price re-eval). But the prevailing bearish sentiment is still pushing the price down. But at the same time, China is still building demand and it looks like the USG has completed its roundup of non-compliant sites... Soon we will be in a situation where the incumbent speculators are going to be fighting the newcomers for coins  . But is today's breakout the beginning? Take a look at the volume for the past week and note the transition from sell-to-buy, starting right after the dump from 110: http://www.bitcoincharts.com/charts/mtgoxUSD#rg10ztgSzm1g10zm2g25zvSome medium-term indicators (weeks) look as if it was a drop for us, and a rise as we saw in May: http://www.bitcoincharts.com/charts/mtgoxUSD#rg60ztgSzm1g10zm2g25zi1gMACDzi2gMFIzi3gStochRSIzvbut the way to somewhere from 115 to 120 is still only one of several options for me ... |
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Miz4r
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Merit: 1000
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June 18, 2013, 12:34:39 PM |
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Good luck to all who are in. I'm staying out for now, it looks like standard tactics to raise the price with a big wall prior to a dump
Wall only appeared after several pretty large market orders brought the price above $106. Walzilla had nothing to do with this rise. And he already disappeared it seems, I hope he realized he is not needed nor wanted. It's buy or stay out. |
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bangersdad
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June 18, 2013, 12:34:58 PM |
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i just dont think anything has changed to cause a rally.
until mass adoption starts imo btc is over valued. The legislation side of things worries me still.
we will see how this plays out, but im not buying yet.
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BitPirate
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June 18, 2013, 12:36:37 PM |
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i just dont think anything has changed to cause a rally.
until mass adoption starts imo btc is over valued. The legislation side of things worries me still.
we will see how this plays out, but im not buying yet.
Nothing changed to cause any of the recent declines. |
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IG0BR0KE
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June 18, 2013, 12:39:27 PM |
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i just dont think anything has changed to cause a rally.
until mass adoption starts imo btc is over valued. The legislation side of things worries me still.
we will see how this plays out, but im not buying yet.
Nothing changed to cause any of the recent declines. Rly? Dwolla, LR? ... |
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ardana123
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June 18, 2013, 12:44:53 PM |
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don't forget the bubble deflation in general
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Miz4r
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June 18, 2013, 12:48:53 PM |
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don't forget the bubble deflation in general
What bubble deflation? You mean this?  Image taken from https://twitter.com/SirBitsALot |
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BitPirate
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June 18, 2013, 12:59:26 PM |
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i just dont think anything has changed to cause a rally.
until mass adoption starts imo btc is over valued. The legislation side of things worries me still.
we will see how this plays out, but im not buying yet.
Nothing changed to cause any of the recent declines. Rly? Dwolla, LR? ... Dwolla was the last bad news to cause a decline. Since then the dumps have been purely speculative (or manipulative) |
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ElectricMucus
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June 18, 2013, 01:02:10 PM |
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Both the run up and in conclusion the run down are taking longer this year than 2 years ago. Gotta scale it, it's gonna line up much better then, but the picture ain't not so bullish as you armchair manipulators want it to. |
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circuitry
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June 18, 2013, 01:03:53 PM |
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Well, we all know that we have hit floors of $81 in May and $93 in June, so your "upwards" "projection" is pretty much wishful thinking. If you like arrows, try to retrace yours according to, you know, actual bottoms and see where it points. |
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Miz4r
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June 18, 2013, 01:07:58 PM |
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Both the run up and in conclusion the run down are taking longer this year than 2 years ago. Gotta scale it, it's gonna line up much better then, but the picture ain't not so bullish as you armchair manipulators want it to. So are you back to being a care bear again? The picture isn't really bullish by the way, more sideway-ish for the short or mid term with main support sitting around 100. I don't believe we can sustain an increase above 150 before the end of this year, so I'm really not all that bullish as you might think. |
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barbs
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June 18, 2013, 01:09:32 PM |
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well someone is short term bullish with these market buys  |
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ElectricMucus
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June 18, 2013, 01:10:10 PM |
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Both the run up and in conclusion the run down are taking longer this year than 2 years ago. Gotta scale it, it's gonna line up much better then, but the picture ain't not so bullish as you armchair manipulators want it to.
So are you back to being a care bear again? The picture isn't really bullish by the way, more sideway-ish for the short or mid term with main support sitting around 100. I don't believe we can sustain an increase above 150 before the end of this year, so I'm really not all that bullish as you might think. In the long run its either new highs or new lows, wait a few minutes I think I'm going to make that comparison in a more fitting manner.. |
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barbs
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June 18, 2013, 01:12:09 PM |
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timed about the time when east coast wakes up and finishes their coffee... in time for morning panic buys!  |
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ShroomsKit
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June 18, 2013, 01:14:49 PM |
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sucker rally
The suckers will be the people left behind. |
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rezurect
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June 18, 2013, 01:15:22 PM |
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one fuking eight.
Unfucking belivable.
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barbs
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June 18, 2013, 01:16:00 PM |
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god to see there is some life left in this thing. IF ONLY I WENT ALL IN AT 101  |
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Rampion
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June 18, 2013, 01:16:08 PM |
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That's quite a bearish chart in my book. |
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gizmoh
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June 18, 2013, 01:17:03 PM |
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wallzilla at 104.5 is back, waiting for you guys to eat his walls. Its going to get ugly after that..
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ShroomsKit
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June 18, 2013, 01:17:19 PM |
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The G8 talks are currently being held in UK and this story is getting quite a bit of airtime on BBC at the moment: http://www.bbc.co.uk/news/business-22948369Washington is continuing to put pressure on Swiss banks to hand over details of US bank account holders. Potentially, account holders could end up looking for another anonymous place to store their wealth. Maybe bitcoin could benefit... Uhm no. |
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