price is gunna start slyding hard down to 130.

[lexis200]

Aah, sr = Silk Road 

Answered my own question!

[kzetts]

So, BTC dropping because no drugs to buy?

[rdrdigital]

Excellent technical analysis by OP.  dude we should chat on skype and share notes on this stuff.  I have been arbitraging between the exchanges for about 2 weeks now and doing very well!

[doom309]

both fundamental and technical analysis are predictive, they boast about being right and being able to predict the direction of price, which is not always profitable, an easier way to make money is by combining a purely price reactive entry/exit trigger with dumping small losses and letting winners run, while adding more positions to them, ie a trend following system

[socrates_]

ok .... one more prediction. the current bounce is a dead cat bounce it will fall again and touch 101.10 but not lower. masive support at 101. the fake wall at 160.00 at bitstamp will move onec we see it drop hard. once we see this double dip we will see a nice rise to 130. then a few sell offs but ultamatly they will be bear traps and the price will be at 150 once sr is up and running agin in no time.

do you think sr being down is the underlying cause? seems there is a big run every time a major player (exchange, wallet, marketplace) has issues

[XXthetimeisnowXX]

I am going to go out on a limb here and predict that it will go down or up, then up or down, over and over.

oh you....stop

[XXthetimeisnowXX]

Excellent technical analysis by OP.  dude we should chat on skype and share notes on this stuff.  I have been arbitraging between the exchanges for about 2 weeks now and doing very well!

ya i kinda watch the patterns way to much... also its just good to listen to your self,  even though i called this one its best to just go off your own intuitions mixed with some TA and you will be making coins.





mining is dead. only the rich with there supper riggs are making money. also everyone will tell you to not mine cuz the less miners the more for them. if you are techy then i say why not set up a good pc and let that fucker mine you some gold.


now with sr back up i guess....i dont know. thank i think we will start to see it climb up. maybe onemore sell off but then back to 200 by summer

[bitcoin_bob]

Well the price went down to 90 and climbed back to 112 in a few hours, thats a significant market movement......I was watching it at 90 and thinking I should invest 10,000 dollars now today and sell when it gets higher lol, I would have sold at $110 and made $2000 this afternoon.

Now all I need is $10,000 if anyone has it spare

[XXthetimeisnowXX]

ha i know what you mean. but the more coins the more you can loose to. i put 6k in and i went to ten with my buying stratagy. but also lost one or two due to it not hitting my proxies.

[Suave]

Good call OP!

[Engineer2B]

If only I had listened!

[XXthetimeisnowXX]

What is causing the sudden crashes and rises?
Are big btc owners dumping their holdings?

shrug....maybe the big fish are manipulating the price....trying tomake the minows run away and then they will putin 100 200 400 900 800 300 coin buy orders. its crazy to watch. when the rally is on watch bitcoinity.org man it goes fast but they start buying them buy then hundreds at a time. make the rice rocket up 25 dollars plus!!

[Jaxkr]

What could be the reason for the price of btc to go down?

Supply and demand, buddy.
There is a pretty static amount of bitcoin being produced at any given time. The more people are buying it, the more expensive it is.
The less people are buying it, or the more people are selling it (so the exchanges have more), then the price goes down.

[XXthetimeisnowXX]

hey tell me your guys prediction for the next 24-48 hours. up down sideways?!?!? let me know

[XXthetimeisnowXX]

What could be the reason for the price of btc to go down?

Supply and demand, buddy.
There is a pretty static amount of bitcoin being produced at any given time. The more people are buying it, the more expensive it is.
The less people are buying it, or the more people are selling it (so the exchanges have more), then the price goes down.

i think we all know that part .... i think what he/she is asking is why the sell off. why arepeople jumpng ship. it takes hundreds of thousands of coins to go from 150 to 100. thats about ten million dollars gone. probably they see the down slyde and so they will sell and buy back in at a lower price.... this is a positive feed back loop. but what will brake it is about twenty people is all to all  put in buy orders at once with about 10 coins each at a price about 5 above the current market value. this will cause the shift and then people will think oh here is the bounce and all start to buy and bam you got yourself a panic buy and a huge rally. its just the opposit of the bubble but instead of a pop and it falling it like a boom and rockets up.

[CRkfx1]

hey tell me your guys prediction for the next 24-48 hours. up down sideways?!?!? let me know

I haven't the math to prove it, but it seems like there's always a bounce before the weekend then falling back to resistance levels on Sunday night.  Then only the news influences the Charts.  Last week's news...all the PayPal info, which caused the rise to 160.

If I could import the gox/btc-e data into TradeStation or the like, I could give more than just gut feelings.  But for now, the guts all I got, which ain't enough for me to commit, therefore, I just steady long, steady long.  

[Swapster]

MtGox low today was $91.... nice time to buy.

Personally I think the true value is whatever the real retail market indicates. As more vendors accept Bitcoin the value will have to be determined based on the size of the economy. So if there is a $20 billion economy with 10 million bitcoins in the market place that makes 1 BTC = $20000.

Second - the BTC economy will grow by leaps and bounds.

It is dirt easy for brick and mortar to accept BTC. As long as they know how to manage their wallet - it is the best payment method bar none.

Porn - they are going to be all over this.

Micro Payments. The Internet is about 20 years old now (1994)... and there have been many advances and success stories. But Micro Payments have been hurt by the shitty banking industry. I should be able to go to WSJ or NYT and pay a damned nickel or less to view a page. That doesn't happen because of bank transaction costs.

Local P2P... obvious.

The one thing that will hold all of this back to some degree is value stability of Bitcoin. Eventually though we will reach that point. When the the true value is determined and it turns out to be very high for 1 BTC - say $20k for a bitcoin - then a few dollars up or down won't make a difference and you will in effect have value stability.

Comments welcome!

[gabcab]

Maybe I should take OP's advice more often!

[cerebellum]

MtGox low today was $91.... nice time to buy.

Only if you're prepared to see the value go below that for a while, the bounce back up to 115 was only temporary. I mostly agree with your position on the long term though.
The next short term (days) bottom will probably be at 80-85, unless we finally break the downwards trend (which seems rather unlikely at the moment)

[Swapster]

MtGox low today was $91.... nice time to buy.

The next short term (days) bottom will probably be at 80-85, unless we finally break the downwards trend (which seems rather unlikely at the moment)

I don't have a MtGox account yet... moved to diff state and need to get new drivers lic to match address. That said.....

1. Do they have stop limit orders? That would be the way to play the market all day because it seems to bounce around quite a bit even when it's doing a cat bounce on the way down. If you can just take a few dollars/BTC on each trade and you had a good 100 BTC or so to work with you could make real money.