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aqrulesms
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November 11, 2013, 11:24:25 PM |
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It's going to dip. It currently can't break above $367-368, and the current trend is down.
I think it will start going up over the course of 2 weeks, however.
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david64 (OP)
Newbie
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Activity: 45
Merit: 0
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November 11, 2013, 11:37:29 PM |
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Order book buys are miniscule on Gox ATM. Volume in general is also down, both in BTC & USD.
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bizz
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November 11, 2013, 11:42:07 PM |
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Order book buys are miniscule on Gox ATM. Volume in general is also down, both in BTC & USD.
Nonsense. Total bid is at $21mil. Few millions more than average last few weeks. |
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Miz4r
Legendary
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Activity: 1246
Merit: 1000
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November 11, 2013, 11:44:43 PM |
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Oh man this next rally will be relentless if I see how many people think it's going down. Everyone who sold or is waiting at the sidelines for a dip will fall all over each other chasing the price way over $400.  |
Bitcoin = Gold on steroids
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balanghai
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November 11, 2013, 11:50:20 PM |
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If you haven't noticed last week. The price dipped at $300 from $350, so it's like a mini bubble burst. Don't know if panic or mania propaganda will work this time in manipulating.  |
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david64 (OP)
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Activity: 45
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November 12, 2013, 12:04:04 AM |
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Nonsense. Total bid is at $21mil. Few millions more than average last few weeks.
Yes. Order book goes down to $21 mil. at about $1. But trading volume is way down. As demand goes down, so will the prices. The spike saw $25 mil. in trade on Gox in one day. Now its about $6 mil. and a lot of that has been dumps. |
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MAbtc
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November 12, 2013, 12:15:37 AM |
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I wouldn't hold a leveraged long position right now, but I'm holding. We haven't seen the end of this rally yet. I think we will approach $500, may not surpass it.
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Miz4r
Legendary
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Activity: 1246
Merit: 1000
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November 12, 2013, 12:24:28 AM |
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Nonsense. Total bid is at $21mil. Few millions more than average last few weeks.
Yes. Order book goes down to $21 mil. at about $1. But trading volume is way down. As demand goes down, so will the prices. The spike saw $25 mil. in trade on Gox in one day. Now its about $6 mil. and a lot of that has been dumps. Actually no.. volume always goes down after a correction and the price starts consolidating before the next big move. It's called the calm before the storm or the eye of the hurricane. Most people don't know what to do and everyone's looking at each other, so that means volume will stay low until either some bulls or bears make the call and things quickly escalate from there. Since the trend was up before the correction and subsequent consolidation, the most likely outcome will be a rally from here. A crash is more likely to happen at the end of a big move upwards, it will usually come sudden and unexpected for most. |
Bitcoin = Gold on steroids
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aqrulesms
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November 12, 2013, 12:39:49 AM |
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Ok, I can clearly see where we're headed now:
Up.
This will be an interesting week.
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theonewhowaskazu
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November 12, 2013, 12:55:05 AM |
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Order book buys are miniscule on Gox ATM. Volume in general is also down, both in BTC & USD.
It doesn't look that bad to me.  |
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BittBurger
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November 12, 2013, 01:05:35 AM |
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Actually -
I saw it happen.
It went from $395 to $307 at 8:10pm EDT Saturday night. Almost instantly.
It then jumped up to $348 right after that.
That was the correction.
It has now recovered from the correction.
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david64 (OP)
Newbie
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November 12, 2013, 01:22:41 AM |
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It doesn't look that bad to me.
I'm talking about trading volume. It was about $25mil on Sat and Sun, and is now down to about $6. Average for Gox, I believe is about $3-4 mil, so demand is still likely to recede. What I meant is that buys into the order book are tiny at the moment. It went from $395 to $307 at 8:10pm EDT Saturday night. Almost instantly.
It then jumped up to $348 right after that.
That was the correction.
It has now recovered from the correction.
Is this not just a bull trap? |
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MaxBTC1
Newbie
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Activity: 56
Merit: 0
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November 12, 2013, 01:33:59 AM |
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Actually -
I saw it happen.
It went from $395 to $307 at 8:10pm EDT Saturday night. Almost instantly.
It then jumped up to $348 right after that.
That was the correction.
It has now recovered from the correction.
This. We are on a steady path to the moon. |
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AMAZONBTC
Full Member
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Activity: 163
Merit: 100
Amazon for BTC
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November 12, 2013, 01:37:05 AM |
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Bitcoin will drop hard to the 100's$
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theonewhowaskazu
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November 12, 2013, 01:50:54 AM |
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It doesn't look that bad to me.
I'm talking about trading volume. It was about $25mil on Sat and Sun, and is now down to about $6. Average for Gox, I believe is about $3-4 mil, so demand is still likely to recede. What I meant is that buys into the order book are tiny at the moment. Dude you're noobing so bad right here. Obviously gox volume is going to be lower, considering they screwed up the worst theyve been in months. Volume going down doesn't indicate demand going down, it indicates nobody using the exchange. As April indicated, volume going up can indicate a crash as well as a rally. |
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Paladin69
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November 12, 2013, 02:23:26 AM |
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Bitcoin will drop hard to the 100's$
120-150 is my guess. People don't understand the concept of profit-taking around here. |
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spiderbrain
Legendary
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Activity: 889
Merit: 1013
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November 12, 2013, 02:56:23 AM |
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That's because people already tried taking a profit at $30 and look what good that did them. I'm following the Great wall of China, which is saying - up (after a little breather). But hey, who knows?
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SlipperySlope
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November 12, 2013, 02:57:22 AM |
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I believe that the current China-driven rally will surpass $500 before a dampened oscillation correction similar in shape to April 2013.
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david64 (OP)
Newbie
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Activity: 45
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November 12, 2013, 03:10:12 AM |
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So predictions range from about $120 to $500.
It seems fairly certain that there will be a large down-trend through, even if it does break $400.
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