The mother of all traps?

[vokain]

why does 2013 have to follow 2011? making a proportional overlay is one thing, assuming that it's the same bubble dynamic is another fundamental leap in logic

It doesn't it is just in popular demand to compare it, and I thought I at least do it right.

that you did

[Zangelbert Bingledack]

Sigh, here is the actual 2011/2013 overlay, again it takes about 2.5 times as long this time. The scaling factor is kind of arbitrary but it is definitely not 1:1.

this is nice work, but it needs to be on log scale to be useful for comparison in the way I think everyone is hoping for.

[ElectricMucus]

You guys were saying "2012 crash" all the time, and you know there was a good chance of that happening.

I told you it's crunch time when it was about to pass 80-something and sorry you've missed it, in 2011 the previous low was defended well and the window of opportunity is over imo. As far as comparisons go anyway. This can still end up bullish but it won't be like in 2012.

[vokain]

You guys were saying "2012 crash" all the time, and you know there was a good chance of that happening.

I told you it's crunch time when it was about to pass 80-something and sorry you've missed it, in 2011 the previous low was defended well and the window of opportunity is over imo. As far as comparisons go anyway. This can still end up bullish but it won't be like in 2012.

how I saw 2012 was up down slow up. We can argue that 2011 was the same way. I have no reason to expect anything different this time around.

[ElectricMucus]

You guys were saying "2012 crash" all the time, and you know there was a good chance of that happening.

I told you it's crunch time when it was about to pass 80-something and sorry you've missed it, in 2011 the previous low was defended well and the window of opportunity is over imo. As far as comparisons go anyway. This can still end up bullish but it won't be like in 2012.

how I saw 2012 was up down slow up. We can argue that 2011 was the same way. I have no reason to expect anything different this time around.

I don't think it would be slow.

[vokain]

You guys were saying "2012 crash" all the time, and you know there was a good chance of that happening.

I told you it's crunch time when it was about to pass 80-something and sorry you've missed it, in 2011 the previous low was defended well and the window of opportunity is over imo. As far as comparisons go anyway. This can still end up bullish but it won't be like in 2012.

how I saw 2012 was up down slow up. We can argue that 2011 was the same way. I have no reason to expect anything different this time around.

I don't think it would be slow.

true, we did get a quick snap back up.

[ElectricMucus]

If you think TA is BS then why you talk about candlestick patterns?

[Rampion]

If you think TA is BS then why you talk about candlestick patterns?

I also think is BS but I enjoying talking about it.

$105 should be a crucial point regarding a trend reversal as I wrote a few posts ago, for the reasons Vladimir exposed. This is fun to analyze and to comment. But to base all your financial decisions on TA, especially in such a small market as per BTC, its nonsense.

[vokain]

If you think TA is BS then why you talk about candlestick patterns?

because the TA on this forum is generally BS

[Kaiji]

I think I can almost completely agree with that. The one thing is that we are probably really overbought now and also sitting just under the other psychological barrier ($100).
As we say, between a rock and hard place... (at least that is a bit how it feels)

Overbought as compared to when...when we were in the $60s last week, or $130s a monthish ago? All that fiat from the selling is out there somewhere....

My sentiment exactly. What happened to all those profits some people made from selling above $200? They might have been playing smart and walked away from the table with their money rather than risk losing it all.

[JimboToronto]

Just woke up after staying up much too late last night watching the show. I was amazed to see it hadn't changed in 6 hours or so.

So the early voters in this poll were overwhelmingly bearish? Now it seems that the bulls have a slight lead.

Interesting.

[candoo]

This looks like a huge dead cat bounce. I expect it to jump down on saturday

[Anon136]

even as a bitcoin bull myself this looks like a trap to me. too much too fast and for what reason? is there some breaking news i missed?

[rampantparanoia]

even as a bitcoin bull myself this looks like a trap to me. too much too fast and for what reason? is there some breaking news i missed?

[ThatDGuy]

even as a bitcoin bull myself this looks like a trap to me. too much too fast and for what reason? is there some breaking news i missed?

I'm wondering this as well.  The Coinbase instant transfer option is definitely bullish news but I wouldn't think of the magnitude to bring us up this high on its own. 

[molecular]

even as a bitcoin bull myself this looks like a trap to me. too much too fast and for what reason? is there some breaking news i missed?

here's a refreshing hypothesis: it's actual new money coming in due to 6 week old news (incubation time of new a bitcoiner (from first contact to first buy) is roughly 6 weeks)

So I looked at 6 week old news and found: "liberty reserve busted".

[ThatDGuy]

even as a bitcoin bull myself this looks like a trap to me. too much too fast and for what reason? is there some breaking news i missed?

here's a refreshing hypothesis: it's actual new money coming in due to 6 week old news (incubation time of new a bitcoiner (from first contact to first buy) is roughly 6 weeks)

So I looked at 6 week old news and found: "liberty reserve busted".

Hard to believe that was only 6 weeks - feels like forever ago in BTC-time. 

[Anon136]

even as a bitcoin bull myself this looks like a trap to me. too much too fast and for what reason? is there some breaking news i missed?

here's a refreshing hypothesis: it's actual new money coming in due to 6 week old news (incubation time of new a bitcoiner (from first contact to first buy) is roughly 6 weeks)

So I looked at 6 week old news and found: "liberty reserve busted".

that is a refreshing hypotheses. i hope you are right.

[Rampion]

even as a bitcoin bull myself this looks like a trap to me. too much too fast and for what reason? is there some breaking news i missed?

here's a refreshing hypothesis: it's actual new money coming in due to 6 week old news (incubation time of new a bitcoiner (from first contact to first buy) is roughly 6 weeks)

So I looked at 6 week old news and found: "liberty reserve busted".

that is a refreshing hypotheses. i hope you are right.

There's not been a lot of movement on the bid side of God's order book. It stayed at $11M for a while.

[Spekulatius]

Now look! 



The red line extends all the way to the break out at 3$.