notme
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May 14, 2013, 09:41:32 PM |
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We are going down.
The market didn't know where to go, but now there's an obvious direction.
Don't be so sure, the bitcoin market likes traps.
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ElectricMucus
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Merit: 1057
Marketing manager - GO MP
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May 14, 2013, 09:44:46 PM |
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Next support @97.5 ![](https://ip.bitcointalk.org/?u=http%3A%2F%2Fwww.bitcoincharts.com%2Fcharts%2Fchart.png%3Fwidth%3D940%26m%3DmtgoxUSD%26SubmitButton%3DDraw%26r%3D60%26i%3D12-hour%26c%3D0%26s%3D%26e%3D%26Prev%3D%26Next%3D%26t%3DS%26b%3DD%26a1%3D%26m1%3D10%26a2%3D%26m2%3D25%26x%3D0%26i1%3D%26i2%3D%26i3%3D%26i4%3D%26v%3D0%26cv%3D0%26ps%3D0%26l%3D0%26p%3D0%26&t=665&c=xp_f_T9Ho4F5UA)
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dandirk
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![](https://bitcointalk.org/Themes/custom1/images/post/xx.gif) |
May 14, 2013, 10:06:32 PM |
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This was just a single/group sell off... Fueled by lag and insanity... Already it is recovering. The last few days have had a consistent moving support up (though a resistance at 120, which probably spurred the sell off).
If I were to guess its the same people that boosted the price to 122 a few days back, they missed their 122 opportunity, saw it was bouncing off the 120 resistance and decided to cash out. And as usual, everyone got gox'ed but at least it was only a min or so lag.
Now could this action cause a trend down, sure... but it is too short of a timeframe to tell considering the last few days have been pretty "slow" to begin with.
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Frozenlock
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![](https://bitcointalk.org/Themes/custom1/images/post/xx.gif) |
May 14, 2013, 10:08:34 PM |
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This was just a single/group sell off... Fueled by lag and insanity... Already it is recovering.
Last chance to get out while in the triple digits. ![Tongue](https://bitcointalk.org/Smileys/default/tongue.gif)
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evolve (OP)
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![](https://bitcointalk.org/Themes/custom1/images/post/xx.gif) |
May 14, 2013, 10:13:19 PM Last edit: May 15, 2013, 12:41:28 AM by evolve |
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This was just a single/group sell off... Fueled by lag and insanity...
I don't know, I have trouble believing that this was some sort of coordinated selloff. I think a small downward move triggered a panic sell, and the Dwolla/Homeland Security news probably didn't help matters, either. The market is on edge right now, and I think small moves can get over exaggerated because of the uncertainty. For now it still looks like there is heavy downward pressure to me. I dont know that we are recovering just yet. ![](https://ip.bitcointalk.org/?u=http%3A%2F%2Fbitcoincharts.com%2Fcharts%2Fchart.png%3Fwidth%3D940%26m%3DmtgoxUSD%26SubmitButton%3DDraw%26r%3D2%26i%3D5-min%26c%3D0%26s%3D%26e%3D%26Prev%3D%26Next%3D%26t%3DC%26b%3D%26a1%3D%26m1%3D10%26a2%3D%26m2%3D25%26x%3D0%26i1%3D%26i2%3D%26i3%3D%26i4%3D%26v%3D1%26cv%3D0%26ps%3D0%26l%3D0%26p%3D0%26&t=665&c=Hk6YFrzrSUABTA) (2 day / 5 min, closing price *live chart*)
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Rampion
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May 14, 2013, 10:24:32 PM |
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This was just a single/group sell off... Fueled by lag and insanity...
I don't know, I have trouble believing that this was some sort of coordinated selloff. I think a small downward move triggered a panic sell, and the dwolla news probably didn't help matters, either. The market is on edge right now, and I think small moves can get over exaggerated because of the uncertainty. For now it still looks like there is heavy downward pressure to me. I dont know that we are recovering just yet. ![](https://ip.bitcointalk.org/?u=http%3A%2F%2Fbitcoincharts.com%2Fcharts%2Fchart.png%3Fwidth%3D940%26m%3DmtgoxUSD%26SubmitButton%3DDraw%26r%3D1%26i%3D5-min%26c%3D0%26s%3D%26e%3D%26Prev%3D%26Next%3D%26t%3DC%26b%3D%26a1%3D%26m1%3D10%26a2%3D%26m2%3D25%26x%3D0%26i1%3D%26i2%3D%26i3%3D%26i4%3D%26v%3D1%26cv%3D0%26ps%3D0%26l%3D0%26p%3D0%26&t=665&c=o85BWCmg921GGQ) (1 day / 5 min, closing price *live chart*) I guess the Dwolla situation is the type of FUD that could scare some overinvested folks. "First governamental action against Bitcoin" could be a headline soon (really don't know it, let's see how this unfolds). EDIT: By the way, didn't the crash started as soon as the first users reported about Dwolla's email?
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smoothie
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LEALANA Bitcoin Grim Reaper
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May 14, 2013, 10:29:39 PM |
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This was just a single/group sell off... Fueled by lag and insanity...
I don't know, I have trouble believing that this was some sort of coordinated selloff. I think a small downward move triggered a panic sell, and the dwolla news probably didn't help matters, either. The market is on edge right now, and I think small moves can get over exaggerated because of the uncertainty. For now it still looks like there is heavy downward pressure to me. I dont know that we are recovering just yet. ![](https://ip.bitcointalk.org/?u=http%3A%2F%2Fbitcoincharts.com%2Fcharts%2Fchart.png%3Fwidth%3D940%26m%3DmtgoxUSD%26SubmitButton%3DDraw%26r%3D1%26i%3D5-min%26c%3D0%26s%3D%26e%3D%26Prev%3D%26Next%3D%26t%3DC%26b%3D%26a1%3D%26m1%3D10%26a2%3D%26m2%3D25%26x%3D0%26i1%3D%26i2%3D%26i3%3D%26i4%3D%26v%3D1%26cv%3D0%26ps%3D0%26l%3D0%26p%3D0%26&t=665&c=o85BWCmg921GGQ) (1 day / 5 min, closing price *live chart*) I guess the Dwolla situation is the type of FUD that could scare some overinvested folks. "First governamental action against Bitcoin" could be a headline soon (really don't know it, let's see how this unfolds). EDIT: By the way, didn't the crash started as soon as the first users reported about Dwolla's email? Just about the same time yes.
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███████████████████████████████████████
,╓p@@███████@╗╖, ,p████████████████████N, d█████████████████████████b d██████████████████████████████æ ,████²█████████████████████████████, ,█████ ╙████████████████████╨ █████y ██████ `████████████████` ██████ ║██████ Ñ███████████` ███████ ███████ ╩██████Ñ ███████ ███████ ▐▄ ²██╩ a▌ ███████ ╢██████ ▐▓█▄ ▄█▓▌ ███████ ██████ ▐▓▓▓▓▌, ▄█▓▓▓▌ ██████─ ▐▓▓▓▓▓▓█,,▄▓▓▓▓▓▓▌ ▐▓▓▓▓▓▓▓▓▓▓▓▓▓▓▓▓▌ ▓▓▓▓▓▓▓▓▓▓▓▓▓▓▓▓▓▓▓▓▓▓▓▓▓▓▓▓▓▓▓▓─ ²▓▓▓▓▓▓▓▓▓▓▓▓▓▓▓▓▓▓▓▓▓▓▓▓▓▓▓▓╩ ▀▓▓▓▓▓▓▓▓▓▓▓▓▓▓▓▓▓▓▓▓▓▓▀ ²▀▀▓▓▓▓▓▓▓▓▓▓▓▓▀▀` ²²² ███████████████████████████████████████
| . ★☆ WWW.LEALANA.COM My PGP fingerprint is A764D833. History of Monero development Visualization ★☆ . LEALANA BITCOIN GRIM REAPER SILVER COINS. |
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evolve (OP)
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![](https://bitcointalk.org/Themes/custom1/images/post/xx.gif) |
May 14, 2013, 10:37:35 PM |
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Mystery solved, then....it's a panic sell from bad news.
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dandirk
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![](https://bitcointalk.org/Themes/custom1/images/post/xx.gif) |
May 14, 2013, 10:37:56 PM |
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EDIT: By the way, didn't the crash started as soon as the first users reported about Dwolla's email?
Just about the same time yes. That is pretty fast reaction time, 50% of the drop occurred in less then 15min, given the steady rise the last few days... Even it was a reaction to the news, only a few dropped big stacks of coin and the lag took over for the other 50%. I still think it is too early to tell, a 10% drop isn't insane, but granted the news of the Dwolla/mtGox is getting worse... just saw that article that quoted this is probably the US saying enough is enough, if that IS the case then we are all doomed! ![Smiley](https://bitcointalk.org/Smileys/default/smiley.gif) EDIT: I will add the volume looks to be returned(ing they are too small to tell lol) to normal.
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smoothie
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May 14, 2013, 11:08:25 PM |
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EDIT: By the way, didn't the crash started as soon as the first users reported about Dwolla's email?
Just about the same time yes. That is pretty fast reaction time, 50% of the drop occurred in less then 15min, given the steady rise the last few days... Even it was a reaction to the news, only a few dropped big stacks of coin and the lag took over for the other 50%. I still think it is too early to tell, a 10% drop isn't insane, but granted the news of the Dwolla/mtGox is getting worse... just saw that article that quoted this is probably the US saying enough is enough, if that IS the case then we are all doomed! ![Smiley](https://bitcointalk.org/Smileys/default/smiley.gif) EDIT: I will add the volume looks to be returned(ing they are too small to tell lol) to normal. 10 seconds to login to mtgox 5 second to set price 1 second to press sell button 16 seconds so yeah it can be fast.
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| . ★☆ WWW.LEALANA.COM My PGP fingerprint is A764D833. History of Monero development Visualization ★☆ . LEALANA BITCOIN GRIM REAPER SILVER COINS. |
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Brushan
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May 14, 2013, 11:10:24 PM |
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We're probably entering a decline that will last for days if not weeks.
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smoothie
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LEALANA Bitcoin Grim Reaper
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May 14, 2013, 11:24:44 PM |
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We're probably entering a decline that will last for days if not weeks.
As much of a bull that I am...i tend to agree with this. Take some profit guys. Just saying. Or be patient.
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,╓p@@███████@╗╖, ,p████████████████████N, d█████████████████████████b d██████████████████████████████æ ,████²█████████████████████████████, ,█████ ╙████████████████████╨ █████y ██████ `████████████████` ██████ ║██████ Ñ███████████` ███████ ███████ ╩██████Ñ ███████ ███████ ▐▄ ²██╩ a▌ ███████ ╢██████ ▐▓█▄ ▄█▓▌ ███████ ██████ ▐▓▓▓▓▌, ▄█▓▓▓▌ ██████─ ▐▓▓▓▓▓▓█,,▄▓▓▓▓▓▓▌ ▐▓▓▓▓▓▓▓▓▓▓▓▓▓▓▓▓▌ ▓▓▓▓▓▓▓▓▓▓▓▓▓▓▓▓▓▓▓▓▓▓▓▓▓▓▓▓▓▓▓▓─ ²▓▓▓▓▓▓▓▓▓▓▓▓▓▓▓▓▓▓▓▓▓▓▓▓▓▓▓▓╩ ▀▓▓▓▓▓▓▓▓▓▓▓▓▓▓▓▓▓▓▓▓▓▓▀ ²▀▀▓▓▓▓▓▓▓▓▓▓▓▓▀▀` ²²² ███████████████████████████████████████
| . ★☆ WWW.LEALANA.COM My PGP fingerprint is A764D833. History of Monero development Visualization ★☆ . LEALANA BITCOIN GRIM REAPER SILVER COINS. |
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gizmoh
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May 14, 2013, 11:56:06 PM |
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We're probably entering a decline that will last for days if not weeks.
As much of a bull that I am...i tend to agree with this. Take some profit guys. Just saying. Or be patient. At last common sense from smoothie ![Wink](https://bitcointalk.org/Smileys/default/wink.gif)
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How Ripple Rips you: "The founders of Ripple Labs created 100 billion XRP at Ripple's inception. No more can be created according to the rules of the Ripple protocol. Of the 100 billion created, 20 billion XRP were retained by the creators, seeders, venture capital companies and other founders. The remaining 80 billion were given to Ripple Labs. Ripple Labs intends to distribute and sell 55 of that 80 billion XRP to users and strategic partners. Ripple Labs also had a giveaway of under 200 million XRP (0.002% of all XRP) via World Community Grid that was later discontinued.[29] Ripple Labs will retain the remaining 25 billion"
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smoothie
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May 15, 2013, 01:06:14 AM |
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We're probably entering a decline that will last for days if not weeks.
As much of a bull that I am...i tend to agree with this. Take some profit guys. Just saying. Or be patient. At last common sense from smoothie ![Wink](https://bitcointalk.org/Smileys/default/wink.gif) Pfssh I've got common sense even when I'm a super ultra bull lol. What I post on this forum isn't necessarily what I am doing in person lol. Dont be fooled so easily. But take some profit. ![Tongue](https://bitcointalk.org/Smileys/default/tongue.gif)
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| . ★☆ WWW.LEALANA.COM My PGP fingerprint is A764D833. History of Monero development Visualization ★☆ . LEALANA BITCOIN GRIM REAPER SILVER COINS. |
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Streets 2.0
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FRX: Ferocious Alpha
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May 15, 2013, 01:10:41 AM |
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We're probably entering a decline that will last for days if not weeks.
As much of a bull that I am...i tend to agree with this. Take some profit guys. Just saying. Or be patient. At last common sense from smoothie ![Wink](https://bitcointalk.org/Smileys/default/wink.gif) Pfssh I've got common sense even when I'm a super ultra bull lol. What I post on this forum isn't necessarily what I am doing in person lol. Dont be fooled so easily. But take some profit. ![Tongue](https://bitcointalk.org/Smileys/default/tongue.gif) Smoothie has like 12 accounts! As it started, I was driving and I went all ape shit!
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Miz4r
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May 15, 2013, 01:11:09 AM |
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I'm not so sure this will last several days, I think the market may be overreacting to the dwolla news. When things are cleared up and it turns out it isn't as bad as it seems then price will shoot back up fast I think. Or perhaps it's really that bad after all, but my gut tells me that it is an overreaction and people assume the worst due to lack of information.
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Bitcoin = Gold on steroids
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smoothie
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May 15, 2013, 01:24:40 AM |
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We're probably entering a decline that will last for days if not weeks.
As much of a bull that I am...i tend to agree with this. Take some profit guys. Just saying. Or be patient. At last common sense from smoothie ![Wink](https://bitcointalk.org/Smileys/default/wink.gif) Pfssh I've got common sense even when I'm a super ultra bull lol. What I post on this forum isn't necessarily what I am doing in person lol. Dont be fooled so easily. But take some profit. ![Tongue](https://bitcointalk.org/Smileys/default/tongue.gif) Smoothie has like 12 accounts! As it started, I was driving and I went all ape shit! This coming form a guy who created his account on April 23, 2013. LOL yeah i have 12 accounts and I create them every 2 years lol
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| . ★☆ WWW.LEALANA.COM My PGP fingerprint is A764D833. History of Monero development Visualization ★☆ . LEALANA BITCOIN GRIM REAPER SILVER COINS. |
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kooke
Sr. Member
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May 15, 2013, 01:27:57 AM |
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Next support @97.5 ![](https://ip.bitcointalk.org/?u=http%3A%2F%2Fwww.bitcoincharts.com%2Fcharts%2Fchart.png%3Fwidth%3D940%26m%3DmtgoxUSD%26SubmitButton%3DDraw%26r%3D60%26i%3D12-hour%26c%3D0%26s%3D%26e%3D%26Prev%3D%26Next%3D%26t%3DS%26b%3DD%26a1%3D%26m1%3D10%26a2%3D%26m2%3D25%26x%3D0%26i1%3D%26i2%3D%26i3%3D%26i4%3D%26v%3D0%26cv%3D0%26ps%3D0%26l%3D0%26p%3D0%26&t=665&c=xp_f_T9Ho4F5UA) Is it just me, or does any else see a dragon in that chart?
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ElectricMucus
Legendary
Offline
Activity: 1666
Merit: 1057
Marketing manager - GO MP
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May 15, 2013, 01:53:06 AM |
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Now I see it. ![Shocked](https://bitcointalk.org/Smileys/default/shocked.gif)
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