Lets break the 9.00$ resistance!!!

[Spekulatius]

As you can see here, the 9,00 $ resistance line is the next hurdle to take before an imminent rally up to the 10.00$ resistance.
It has proven quite solid in the past but was penetrated today several times. Nevertheless have all attempts to establish a new price level been beaten back so far. If the resistance falls and remains broken for a decent amount of time, lets say for at least 2 troughs to be formed above it, we can expect only the 10 bucks resistance to stop our rally...

BRING DOWN THE WALL!!!

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[ElectricMucus]

http://sd-12155.dedibox.fr/~joel/btc/mtgox2.png

see that dark spot? the volume is far too low right now to be of any significance.

[julz]

I wonder if the recent exposure of Bitcoin to both mainstream US and Chinese investors in the past few days might help push it up a bit this week.
(marketwatch.com story plus finance.sina.com.cn)

[Spekulatius]

We are coming from a period of relative insecurity around the 8.00$ support line, which would be critical for a further price dump. It seems as if that risk is getting smaller and traders take heart from the fact, that the course is rising and we are in an unbroken uptrend since the 8.00 $ resistance. The trades held back for that interlace can now be executed with additional momentum, you can see this be taking a look at the accelerated uptrend today. If u apply the bollinger bands it becomes even more visible, because the upper band has continuously been penetraded which supports the current uptrend as long as this behaviour continous.
This days volume, btw seems quite high in comparison to the days preceeding, high enough to break the 9.00 $ barrier durably IMO.

[YoYa]

9 is broken, market is firing, let's see where we go!

http://sd-12155.dedibox.fr/~joel/btc/mtgox2.png

see that dark spot? the volume is far too low right now to be of any significance.

Do like!
How did you generate this?

[ElectricMucus]

I like it too, but that isn't my work

[helloworld]

but was penetrated today several times.

...

[Nagle]

"Unbroken uptrend since the 8.00 $ resistance."?  That's the last 18 hours.

You want to see an "unbroken trend"? Look at the 30 day moving average, the purple line:



Now that's an unbroken trend, going steadily down for two months now.

[wareen]

Now that's an unbroken trend, going steadily down for two months now.

Maybe interesting to note that it will soon be two months that Mt. Gox has had to remove the option to do SEPA deposits - Europeans have a hard time getting money to Mt. Gox since beginning of July!

A slow downward slope is exactly what should be expected if you cut off (a good part of) the fiat money supply and leave the influx of new Bitcoins unchanged.

[YoYa]

Winters coming, do PermaBears hibernate?
    

[nmat]

http://sd-12155.dedibox.fr/~joel/btc/mtgox2.png

see that dark spot? the volume is far too low right now to be of any significance.

Do like!
How did you generate this?

I would also like to know. I saw a graph like this at the CCC conference.

[fcmatt]

I'm not an expert at reading charts, but is an attempt to pass $10 about to happen?  that big sell wall at 9.5 got pulled, maybe they think they can't stop it this time.

any theory's? 

It is going to take a metric crap ton of buying to get past 10.. compared to just a bit of aggressive selling to push it down to 8.5.
What I think is going to happen is that some sellers are going to want get out and really hammer into this mini rally tomorrow. Mini
rally being a chance to get out between 9 and 10.

But i do not know squat either and this is just my hunch. Lots of good chances to make trades the last few days for the more daring
among us.

[mp420]

I don't think the medium-term downtrend will change any time soon. It will take at least a month and a steady decline to around $6 to gain enough upward pressure to start another big rally.

I have very little anything at all on MtGox but I'm going to put that little money where my mouth is.

[Cluster2k]

Winters coming, do PermaBears hibernate?
    

Depends which hemisphere you're in.  Winter is about to end here.

[arsenische]

It will take at least a month and a steady decline to around $6 to gain enough upward pressure to start another big rally.

Maybe it is going to happen in couple of weeks

[lemonginger]

short-term down trend from here. Flirting with the lows of the past few days. medium-term down trade for september to between $5- and $6.

[ineededausername]

Interesting how we're retracing the great moves of last year
We're up to August now, next stop July!

Fun ancient Nagle chart:

"Unbroken uptrend since the 8.00 $ resistance."?  That's the last 18 hours.

You want to see an "unbroken trend"? Look at the 30 day moving average, the purple line:



Now that's an unbroken trend, going steadily down for two months now.

[ElectricMucus]

I wonder what is Nagle upto anyway. Maybe we should email him and send him this chart?  

[fcmatt]

I wonder what is Nagle upto anyway. Maybe we should email him and send him this chart?  

Bullish sentiment too high. Contrarian would be very careful right now. I am constantly selling right now. Great to get 8 or 9 per btc!

[ineededausername]

price could never be 9.x for long time
like it was just under 5

it would be too much psy-pressure especially if it gets there before 2013.

what was it like for price from 0.9 to 1 ?

so,
if 9 then 10+

Another oddly appropriate ancient thread...