Bear Market or Market Correction.

[rizzn]

All other things being equal, I'm perfectly happy to sit on my bitcoins until the market is more favorable.

Don't get me wrong, I'm in it for the long haul. I keep about 10 bitcoins in "savings" around for spending on stuff within the BTC world. I usually spend about 15 a week, mostly purchases for work equipment and whatnot.

I have about a grand I have devoted to investing and buying. I've been playing around with the market and come out probably 5% ahead,but I generally don't leave all of that in BTC if I walk away from the computer.

In other words, I have faith in the long term viability of BTC, and am a practitioner, so to speak. Short to medium term, though, I don't want to keep buying and holding as value drops. I'd rather buy closer to the bottom. Problem is I'm a relative newbie and I don't have an instinctual feel for what the bottom should be, nor do I have a good enough picture on the whole of the BTC economy yet to gauge factors like "is more money entering rather than exiting" BTC (other than using the markets as an indicator, which would say no).

[rizzn]

...
Just curious on opinions.

The first step is to add a time frame to your question.

(( IMO ))
Long-Term = Bullish

Medium-Term = Bearish | Extremely Bearish: Needs to retest the June 11-12 low of 10.25. | Could go as low as 6.50 to 7.50 (an old trading range) or even 1.50 if the Bulls finally give up, and enough people (including miners) panic-sell.

Short-Term = Could change before I'm done typing.  

Thanks for the clarification. I guess I was asking for medium term, since I'm bullish on the long term prospects.

[Bit_Happy]

...
Just curious on opinions.

The first step is to add a time frame to your question.

(( IMO ))
Long-Term = Bullish

Medium-Term = Bearish | Extremely Bearish: Needs to retest the June 11-12 low of 10.25. | Could go as low as 6.50 to 7.50 (an old trading range) or even 1.50 if the Bulls finally give up, and enough people (including miners) panic-sell.

Short-Term = Could change before I'm done typing.  

Thanks for the clarification. I guess I was asking for medium term, since I'm bullish on the long term prospects.

 [[13.3,4,959.98]
3 minutes ago this sell order for  4,959 BTC was at ~13.3150, so we have an impatient seller of  4,959 BTC currently wanting to be the lowest bid and fist in line to sell. I have never seen a (sitting) huge order in such a hurry, usually they pick a spot and park for a while.

Gong down?

EDIT:
Motivated seller:
[13.19,4959.34]

EDIT#2:
[13.18,4810.98112083]
^^^
This person acts like an impatient child trying to sell 0.5126599 BTC.

[13.16,4780]

[steelhunter]

Hah, "impatient child" you say? No offence man, but that was the simplest market manipulation. It is in effect ever now. We're open to an uptrend but not instantly, though.

[Bit_Happy]

Hah, "impatient child" you say? No offence man, but that was the simplest market manipulation. It is in effect ever now. We're open to an uptrend but not instantly, though.

Sellers want higher prices not lower. This seller was desperate to be the lowest offer.