this time it's different...

[bitcon]

we're all anticipating a big crash, but maybe the whales dont have as much impact as they did a year or two ago?

[TERA]

Fiat keeps flowing into the bid side on these exchanges exponentially. I think the whales are waiting to see how far this goes and if it stops then they'll dump.

[windjc]

Fiat keeps flowing into the bid side on these exchanges exponentially. I think the whales are waiting to see how far this goes and if it stops then they'll dump.

What happened to your bearish wedge? Is that still going to break out to the downside?

You have to admit that it looks very bullish for at least 1 or 2 more moderate push ups now, doesn't it? Especially with the top of the wedge now expanding out into more consolidation and less of a tip.

I don't see how we don't at least get close to 450 on Bitstamp and 2900 on BtcChina.   This last minor pull back didn't effect China at all and now I feel there is a renewed sense that's its ok to go up some more. And I think psychologically, a lot of people want to go to 500.

[TERA]

The bearish wedge is still there, I guess being dragged out all the way to the apex. Maybe it breaks somewhere after the senate hearings.

[windjc]

The bearish wedge is still there, I guess being dragged out all the way to the apex. Maybe it breaks somewhere after the senate hearings.

The only way that wedge can still exist on Monday is if it goes up some more between now and then. If it just flat lines for 48 more hours, it won't qualify as a wedge anymore, just consolidation at highs.

[bitcon]

i thought i was taking a big risk picking up ~60 coins at $350, but thats not looking so bad now. i only regret selling, never buying.

[TERA]

The bearish wedge is still there, I guess being dragged out all the way to the apex. Maybe it breaks somewhere after the senate hearings.

The only way that wedge can still exist on Monday is if it goes up some more between now and then. If it just flat lines for 48 more hours, it won't qualify as a wedge anymore, just consolidation at highs.

That's now how bitcoin works. It doesn't just go up, consolidate on low volume, and go up more. There needs to be violent movements and recoveries on high volume with buys of thousands of btc at a time to give people confidence and refuel the rocket.

[rampantparanoia]

That's now how bitcoin works. It doesn't just go up, consolidate on low volume, and go up more. There needs to be violent movements and recoveries on high volume with buys of thousands of btc at a time to give people confidence and refuel the rocket.

Are you suggesting rockets never reach orbit?

[TERA]

The bearish wedge is still there, I guess being dragged out all the way to the apex. Maybe it breaks somewhere after the senate hearings.

The only way that wedge can still exist on Monday is if it goes up some more between now and then. If it just flat lines for 48 more hours, it won't qualify as a wedge anymore, just consolidation at highs.

Looks like it went up.

[lucaspm98]

Maybe, maybe not. I bet it will dip a little but come straight back up.

[bitcon]

im hoping for a weekend dip. not in the pond.

[mvidetto]

Every time it's different people want to play on past results.  This will work sometimes and others not, but there is still a lot of up pressure so we may be far from the top.

[whitemage]

we're all anticipating a big crash, but maybe the whales dont have as much impact as they did a year or two ago?

Not any more, people would be buying on crash...

[ElectricMucus]

nice topic.

[vps15]

The bearish wedge is still there, I guess being dragged out all the way to the apex. Maybe it breaks somewhere after the senate hearings.

The only way that wedge can still exist on Monday is if it goes up some more between now and then. If it just flat lines for 48 more hours, it won't qualify as a wedge anymore, just consolidation at highs.

That's now how bitcoin works. It doesn't just go up, consolidate on low volume, and go up more. There needs to be violent movements and recoveries on high volume with buys of thousands of btc at a time to give people confidence and refuel the rocket.

what is this bearish wedge that you are talking about? i can't see it, could you post a graph or something. what time frame are you referring to?

[Wilhelm]

we're all anticipating a big crash, but maybe the whales dont have as much impact as they did a year or two ago?

How many whales still exist with >100000 BTC ? I bet there aren't many left.

[BitChick]

Fiat keeps flowing into the bid side on these exchanges exponentially. I think the whales are waiting to see how far this goes and if it stops then they'll dump.

I think the past week they have been trying desperately to dump and cause a crash but it has not been succeeding.  There is just too much buying power and China seems unfazed by the dumps.  Also, there are more exchanges then there were in April.  It is really a bullish sign I believe. 

[ElectricMucus]

The bearish wedge is still there, I guess being dragged out all the way to the apex. Maybe it breaks somewhere after the senate hearings.

The only way that wedge can still exist on Monday is if it goes up some more between now and then. If it just flat lines for 48 more hours, it won't qualify as a wedge anymore, just consolidation at highs.

That's now how bitcoin works. It doesn't just go up, consolidate on low volume, and go up more. There needs to be violent movements and recoveries on high volume with buys of thousands of btc at a time to give people confidence and refuel the rocket.

what is this bearish wedge that you are talking about? i can't see it, could you post a graph or something. what time frame are you referring to?

You are right, overall it's still going up.
http://data.bitcoinity.org/#ccacdfcfaa

[Rupture]

A new floor has been set at 250 IMO

[wobber]

A new floor has been set at 250 IMO

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