Analysis

[notme]

https://www.tradingview.com/x/GFVhpAaD/

Some seems to be interested in making the upward option happen.

https://i.imgur.com/VwHz6NA.png

Or letting the bids fill in around him so he can pull it and dump... His real bids will be scattered below where he sells it to.

Maybe, but a bit too risky for most whales taste I suspect. There is virtually no spread between his bid and the current bid, far too easy for one to dump right into it should one be so inclined.

Just the small matter of having 2500 BTC and being willing to trade them for $350k less fees and taxes.  If the wall is trying to acquire bitcoins, he risks buying slightly higher by setting up the opportunity to buy lower.  If it goes against him, oh well, he has to wait before he can play his game again.

[Leo]

still uncertainty .. but i'm on bullish side.

[masterluc]

[ElectricMucus]

Looks like it hit the net.

[Miz4r]

Looks like it hit the net.

Double top or break through? Watch it live tonight or tomorrow.

[Leo]

I think - if it is a "pong" , then the price below $ 100 is possible only if suddenly there is a negative fundamental factor (something be happen with bitstamp or another trouble with withdrawal of cash), because we have a good bullish trend, and 100-110 is very strong levels.

[masterluc]

I think - if it is a "pong" , then the price below $ 100 is possible only if suddenly there is a negative fundamental factor (something be happen with bitstamp or another trouble with withdrawal of cash), because we have a good bullish trend, and 100-110 is very strong levels.

I am surprised how people are denying to figure out that we are in epicenter of biggest Bitcoin shitstorm ever.

AFAIK from this topic https://bitcointalk.org/index.php?topic=179586.1400 MtGOX is bankrupt. The one thing keeping them in distance from bankruptcy status - is a lack of regulations and blind faith of people.

[zby]

I think - if it is a "pong" , then the price below $ 100 is possible only if suddenly there is a negative fundamental factor (something be happen with bitstamp or another trouble with withdrawal of cash), because we have a good bullish trend, and 100-110 is very strong levels.

I am surprised how people are denying to figure out that we are in epicenter of biggest Bitcoin shitstorm ever.

AFAIK from this topic https://bitcointalk.org/index.php?topic=179586.1400 MtGOX is bankrupt. The one thing keeping them in distance from bankruptcy status - is a lack of regulations and blind faith of people.

5 millions here (Dwolla), 5 millions there (Coinalabs) - it really looks like MtGox is bleeding

[Leo]

MtGOX is bankrupt.

Does not matter, while people are calm and everyone can withdraw money through bitstamp (the "ecosystem" works). "Blind faith of people" - is a strong thing..  world economics is based on this (US FRS as example). F*ck dollars,  i wanna more coins now, and buy a palace in Abu Dhabi (after some years)! We will get it!

[masterluc]

MtGOX is bankrupt.

Does not matter, while people are calm and everyone can withdraw money through bitstamp (the "ecosystem" works). "Blind faith of people" - is a strong thing..  world economics is based on this (US FRS as example). F*ck dollars,  i wanna more coins now, and buy a palace in Abu Dhabi (after some years)! We will get it!

Sure, but seems that bid side on mtGox is air. So... Overvalued.

[rampantparanoia]

so, it will go up the longer that gox is around...and as soon as gox announces its shutting down it will plummet?

sounds like a plan to me.

[Leo]

Sure, but seems that bid side on mtGox is air. So... Overvalued.

It always has been, and now game continues. Main manipulator (Mtgox) works well. This has a positive effect on the development of the whole bitcoin-industry.  I think not so simple in gox situation..not bury him ahead of time.

[ElectricMucus]

so, it will go up the longer that gox is around...and as soon as gox announces its shutting down it will plummet?

sounds like a plan to me.

Announces, lol.

[lebing]

so, it will go up the longer that gox is around...and as soon as gox announces its shutting down it will plummet?

sounds like a plan to me.

pretty much. We can draw all the pretty lines we want, but it all means nothing when there is a fundamental issue of such proportions that it completely distorts the price. "Normal" market behavior goes out the window in these circumstances.

[rampantparanoia]

Announces, lol.

Haha, gotta eat my word. My thought is they already announced it when they had a press release regarding the USD withdrawal issue. Not to mention funds seizure. I know it's dying already, but at some point it will be in a press release "MT GOX CLOSING DOORS DUE TO XYZ"

pretty much. We can draw all the pretty lines we want, but it all means nothing when there is a fundamental issue of such proportions that it completely distorts the price. "Normal" market behavior goes out the window in these circumstances.

This is the exact reason I'm sitting on the sidelines right now. Emotions controlled me for a little bit and made me lose more than I should have, but I'm waiting to see the market return to normal behavior. All I see is the 70's arcade game PONG being played with real money... and that's not the type of game I'd put money on.

[Leo]

in case of "pong", i dont think we will fall below $ 114.8

[samurai1200]

I dont think the green lower line of the wedge is placed well: the market now is too different from pre-bubble, and the candles only touch twice since then... probably coincidentally. I dont mean to sound argumentative or accusatory, but how much do you trust in that line?

[masterluc]

His target on inverse H&S neckline. This has sense.

[Leo]

I dont think the green lower line of the wedge is placed well: the market now is too different from pre-bubble, and the candles only touch twice since then... probably coincidentally. I dont mean to sound argumentative or accusatory, but how much do you trust in that line?

I would glad buy on $ 115,on that level many things converge, but afraid that will not happen, probably will unfold before that. We have a bullish market.., but if happen breaking through down $ 115, i join to bears.

[samurai1200]

but if happen breaking through down $ 115, i join to bears.

+1, agreed