Market has peaked, sell off incoming.

[grabble]

Today we will have low trading volume, it will be back and forth. Saturday a big sell off is coming, not sure where it will end up. The market will recover into a small up-trend Sunday and Monday but we might be looking at another long-climb back to where we are now. It could take weeks.

[1713572304]

1713572304

[1713572304]

1713572304

[jamesc760]

Today we will have low trading volume, it will be back and forth. Saturday a big whale buy is coming, not sure where it will end up. The market will level off into a small down-trend Sunday and Monday but we might be looking at another long-descent back to where we are now. It could take weeks.

I love this specuating business...

[zoinky]

So... today is much like yesterday?

[Jozzaboy]

Today we will have low trading volume, it will be back and forth. Saturday a big whale buy is coming, not sure where it will end up. The market will level off into a small down-trend Sunday and Monday but we might be looking at another long-descent back to where we are now. It could take weeks.

I love this specuating business...

Unless you're the whale, you don't know they will buy tomorrow. What is your basis on this? Not bearish, just curious.

[superresistant]

So... today is much like yesterday?

and tomorrow will be like today

[humanitee]

Can't wait to sell into that queue. Great idea OP!

/s

[damiano]

It is quite possible he could be the dumbest whale in existence (by disclosing his intentions)

[BitChick]

A couple million or more is finally being refunded right now to people that had money in Bitfloor. (Some refunds have already been accounted for) Obviously these same people have an interest in Bitcoin.  I speculate that some of the refunds will be put back into Bitcoin, or orders will be placed for Bitcoin.  Of course I am not sure what trading platform they will use but regardless this might help keep prices stable or even move up a bit this weekend.

[grabble]

Today we will have low trading volume, it will be back and forth. Saturday a big whale buy is coming, not sure where it will end up. The market will level off into a small down-trend Sunday and Monday but we might be looking at another long-descent back to where we are now. It could take weeks.

I love this specuating business...

Unless you're the whale, you don't know they will buy tomorrow. What is your basis on this? Not bearish, just curious.

My speculation is based on DXY and Gold spot price H1 and H4 and a bit of intuition. I've been remarkably successful at predicting the market for the last few weeks using this method and all signs point to a sell off on Saturday. If there is a whale going to buy they are going to lose a lot of money. I'm thinking that the whales are actually investment firms or people with investment experience and they should know this as much as I do that right now is not a good time to buy.

[Coinseeker]

A couple million or more is finally being refunded right now to people that had money in Bitfloor. (Some refunds have already been accounted for) Obviously these same people have an interest in Bitcoin.  I speculate that some of the refunds will be put back into Bitcoin, or orders will be placed for Bitcoin.  Of course I am not sure what trading platform they will use but regardless this might help keep prices stable or even move up a bit this weekend.

I think it's fair to assume that if you're buying you're not going to buy on Gox, when you can buy much lower on the other exchanges.  I would expect most of this fiat to show up on Bitstamp, BTC-e and CampBX.  My guess anyway.

[notme]

~ $92.50 then we run for $104

[Tzupy]

Today we will have low trading volume, it will be back and forth. Saturday a big whale buy is coming, not sure where it will end up. The market will level off into a small down-trend Sunday and Monday but we might be looking at another long-descent back to where we are now. It could take weeks.

I love this speculating business...

The whale buyer may be golfing tomorrow, or have two blondes in bed tonight and forget about the next buy, I'm not sure he'll buy tomorrow, but I'll be ready if he does.

[RodeoX]

My understanding is that most of the whales have moved to KrillCoin. 

[xavier]

Sorry, don't believe it.

I think it can only go higher from here.

[grabble]

Yes, yes down my precious. It's beginning we are already at $93 we will see how much damage today will do. I would be looking for a bottom tomorrow as the recovery should start tomorrow and continue into next week.

[Tzupy]

You were correct about the drop, but for now it hasn't gained momentum. Market sell orders aren't following this drop,
so if the droppers want to persuade the market to drop down where they can buy back and make a profit, they'll
have to make another dump below 91.6, and I don't see this happening (well, not yet, as I write this). To compensate
for the lack of strength of this drop, the dumpers may resort to spreading rumors, to make this drop a self-fulfilling prophecy.

[grabble]

I highly suspect that today we will play the one step forward two steps back game, it's going to be a gradual decent back to the low 90s if it touches 91 there will be another sell off from people trying to cut a profit and wait for the 80s to buy back in as this rally really started around 89.

I'm surprised at how little actual informed speculation goes on in this forum. These are solid market principles not me just saying stuff based on my emotions.

The day has just begun on the east coast and once people wake up in America you'll see the real action begin around noon EST.

[Tzupy]

I did a little math, and here's what I found out:
The dumpers sold at an average of 94.5 - 95, about 4,000 - 5,000 BTC, so if they want to break even they
have to buy 4,000 -5,000 BTC at 94 - 94.5 (difference due to fees). And currently they have no chance.
Unless the dumps continue down to 91.5, there won't be a large market movement downwards.

[MoreFun]

They are not doing this to profit few pennies but to profit few tens percentage. They do not need to buy back in one day, they can buy back in 1 month when price will be lower xy%.

[grovestr]

If whales could withdraw money from mtgox, we would see the bottom sooner. It's about fear of losing money.