Something is setting up with the market

[bornloser]

I have been glancing of the minute by minute trades on Mt Cox over the last couple days. I know we have been trading sideways, but it almost has that "feel" that something is being set up. Looking at some of the larger (500+) coin trades, sells and buys, the price really isnt getting affected as much as it has in the past and on top of that there is hardly any volume, which you would think would exacerbate the price even more? The price is staying in a super tight range. It reminds me when I used to trade stocks and there would be a huge sell off and the price of the stock would open lower and stay at the same low give or take a dollar all day. Huge blocks would sell and the price stayed relatively flat. You know It was the market maker sitting there buying buying and goosing the market and letting it go a little bit at a time so he slowly unloaded probably the majority of what he bought as the buyer of last resort. I have no idea if this is consolidating for a move up or down. What do you guys think?

[wonkytonky]

I have been glancing of the minute by minute trades on Mt Cox over the last couple days. I know we have been trading sideways, but it almost has that "feel" that something is being set up. Looking at some of the larger (500+) coin trades, sells and buys, the price really isnt getting affected as much as it has in the past and on top of that there is hardly any volume, which you would think would exacerbate the price even more? The price is staying in a super tight range. It reminds me when I used to trade stocks and there would be a huge sell off and the price of the stock would open lower and stay at the same low give or take a dollar all day. Huge blocks would sell and the price stayed relatively flat. You know It was the market maker sitting there buying buying and goosing the market and letting it go a little bit at a time so he slowly unloaded probably the majority of what he bought as the buyer of last resort. I have no idea if this is consolidating for a move up or down. What do you guys think?

this is bitcoin.. there's always something being set up    

[bornloser]

 
[/quote]

this is bitcoin.. there's always something being set up    
[/quote]

could you elaborate?

[CoinBomb]

did someone mention bombs?

[BubbleBoy]

"Sideways" is a movement that can be recognized only in retrospect. What we see here is that the reflexive market believes about itself that it has settled for a price around 115 and it cancels the sideways motion, acting as a faux market maker.

IMHO this price is not sustainable without a bubble, china hype, ATMs... as the market will soon realize.

[BitcoinAshley]

Well, there are more and more people interested in combating volatility... more market-making bots being run... Perhaps they are succeeding at the moment.

I suggest to take off every zig.

[smoothie]

Just remember it isn't a bad thing to take some profits.

Taking a loss is different though.

[Hfleer]

think people are just waiting on some more news good or bad before making moves.

[Frozenlock]

Just remember it isn't a bad thing to take some profits.

Taking a loss is different though.

Isn't a bad thing to cut your losses either (if any of you bought +$120). 

[Crypt_Current]

Whatever it is, we can only hope it's for Great Justice

Edit:  lulz @ "Mt Cox"

[bornloser]

I can't help myself. I look at bitcoins like i look at stocks and I shouldn't. Two completely different animals. My gut says we go higher. And the only reason I think this is because, whether it be the big money or exchanges, its in their best interest to keep everything as positive as possible to keep new money coming in and existing money invested in coins to stay that way. Just my 2c.

[superduh]

there's a big conference in a week - if things look positive this should push the prices up, way up.
i thought bubbleboy was done with bitcoins and unto better things to do with his time

[Frozenlock]

there's a big conference in a week - if things look positive this should push the prices up, way up.

How would that influence the price in any way?
Those going to the conference are already Bitcoin zealots.

Are they going to buy by the buckets just because there was some good news?

[amencon]

there's a big conference in a week - if things look positive this should push the prices up, way up.

How would that influence the price in any way?
Those going to the conference are already Bitcoin zealots.

Are they going to buy by the buckets just because there was some good news?

Yeah I wouldn't expect any sharp rises due only to the conference.  From what I remember previous successful conferences had little effect on the price in the short term.  In my opinion the most value the conferences have are the networking opportunity they present to the people that build the infrastructure around bitcoins.  People meet and come up with ideas, then it takes time for those ideas to be collaborated on and hopefully eventually made a reality, but all that can take awhile.

[Elwar]

Somebody set up us the bomb.

make your time

[NamelessOne]

Somebody set up us the bomb.

make your time

For great justice.

Take off every zig!

[xavier]

I have been glancing of the minute by minute trades on Mt Cox over the last couple days. I know we have been trading sideways, but it almost has that "feel" that something is being set up. Looking at some of the larger (500+) coin trades, sells and buys, the price really isnt getting affected as much as it has in the past and on top of that there is hardly any volume, which you would think would exacerbate the price even more? The price is staying in a super tight range. It reminds me when I used to trade stocks and there would be a huge sell off and the price of the stock would open lower and stay at the same low give or take a dollar all day. Huge blocks would sell and the price stayed relatively flat. You know It was the market maker sitting there buying buying and goosing the market and letting it go a little bit at a time so he slowly unloaded probably the majority of what he bought as the buyer of last resort. I have no idea if this is consolidating for a move up or down. What do you guys think?

Well u got used to a bubble, an influx of new people moving money to gox

Now the hype is over there is nobody to buy. Only sellers who bought in high anxiously watching the price hoping it will go up.

What has happened is we moved from a bull to a bear market. As people realize volumes are not going anywhere for the timebeing, the price will continue trending downwards.

[dopamine]

nothing wrong with a consolidation period before the next leg up...

[ronaldlee0917]

there's a big conference in a week - if things look positive this should push the prices up, way up.

How would that influence the price in any way?
Those going to the conference are already Bitcoin zealots.

Are they going to buy by the buckets just because there was some good news?

There will be increased media coverage.

[Frozenlock]

there's a big conference in a week - if things look positive this should push the prices up, way up.

How would that influence the price in any way?
Those going to the conference are already Bitcoin zealots.

Are they going to buy by the buckets just because there was some good news?

There will be increased media coverage.

So? This will be but a drop in the ocean of last month's coverage.