8/28/11 Speculation Thread

[tacotime]

8/28/11: Battle of the high frequency trading software.

Here is what I think:
- Sell walls are fake at Mtgox.
- New high of 9.40-9.75 by the end of the day.

[1713906538]

1713906538

[1713906538]

1713906538

[1713906538]

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[Bigpiggy01]

9.4 already broken elsewhere (Britcoin)

So bring it on

[apetersson]

- Sell walls are fake at Mtgox.

i just witnessed the 9.5 sellwall of 5000 vanish to ~300 BTC, when the price was at 9.45. then a couple minutes later, it is here again. i expect it to vanish totally one the price gets in its range.
but in fact think it is possible that the price falls down quickly, the bids are very, very shallow. just a selloff of 1k could demolish the price, down to 8.5. so it might be a very risky thing to hold bitcoins at the moment..

[arsenische]

I agree the walls are fake.. Its a bit scary that there are such a powerful manipulators on the market. So we see what they want us to see. Probably it is better to ignore ask/bid graphs and to watch at the actual prices and volumes.

[YoYa]

Short term trend changing?

50 EMA crossing above 200 SMA.....maybe, whiplash possible tho

[arsenische]

Short term trend changing?

50 EMA crossing above 200 SMA.....maybe, whiplash possible tho

If my optimistic hypothesis is correct, we are going to see $30/btc in September and over $50 in November