Market Doesn't Look to Hold Above $6,000

[payb.tc]

I don't think it is very likely that we'll go below 5.80. Why? Because it would mean selling at a loss for most people.

so in other words, you don't think it is very likely that most people would have to sell at a loss?

that happens all the time in all sorts of markets!

[The_Duke]

Not to mention that not selling @ 5.80 will mean selling at an ever GREATER loss later on.

[Cluster2k]

Lick lick, nibble nibble, that $5.95 wall is being tried and sampled, taste tested and masticated.  Only a matter of time before it retreats to $5.75.  Then we begin again.

[The_Duke]

Someone just slammed 2500 coins into the 5.95 wall...

[greyhawk]

Someone just slammed 2500 coins into the 5.95 wall...

Funny enough I saw the 2500 coin trade pop up on mtgoxlive and the wall crumbling down.

However the volume never showed up on the market price. Very strange


And while I'm typing this, we're in free fall to 5.4 5.3

[Cluster2k]

Someone found that wall to be bitter.  $5.40, and off we go again.

[The_Duke]

Holy crap. Thousands of coins now being dumped...

[Cluster2k]

Holy crap. Thousands of coins now being dumped...

I'm just waiting for someone to post a log graph dating back to mid 2010 to show we're still in a bull market today...

[The_Duke]

Holy crap. Thousands of coins now being dumped...

I'm just waiting for someone to post a log graph dating back to mid 2010 to show we're still in a bull market today...

[michaelmclees]

The volume is amazing and it's happening right now.  I'm so glad I sold when I did.  Now I have lots of room to identify the bottom.  I can see us under $5.00 in a matter of minutes as people wake up in the US and dump.

We already went from 6.00 to 5.25 in a matter of seconds.

It's the VOLUME.

http://www.youtube.com/watch?v=vA_UfZnqBco

[old_engineer]

You know when you just in an elevator that's accelerating downward, you feel weightless for a brief second?  That's what I feel like when I see someone drop 23,000 coins all at once while I'm holding coins.  Whee!

[The_Duke]

You know when you just in an elevator that's accelerating downward, you feel weightless for a brief second?  That's what I feel like when I see someone drop 23,000 coins all at once while I'm holding coins.  Whee!

Hold on tight or the g-forces from the fast descent will rip them out of your hands. Or they become weightless when we smack down at 0

[proudhon]

Chill out guys.  The price is only ~6 times less than the high.

[greyhawk]

This is a beautiful game of pong being played right now. 

[Cluster2k]

Chill out guys.  The price is only ~6 times less than the high.

80% off!  All bitcoins 80% off!  It sounds like a rug sale.

[im3w1l]

Chill out guys.  The price is only ~6 times less than the high.

only

[blatchcorn]

Who is still hodling?

[Tzupy]

Holy necro! Smoothie was a bear and Proudhon rather bullish back then. 

[Torque]

I'm just waiting for someone to post a log graph dating back to mid 2010 to show we're still in a bull market today...

Yeah, and look just how ignorant this guy's post turned out to be.  According to current 2014 log graphs we're still in a bull market today.

This is the reason I completely ignore bears and trolls on this sub, and will continue to do so for years into the future.

[Dalmar]

I'm just waiting for someone to post a log graph dating back to mid 2010 to show we're still in a bull market today...

Yeah, and look just how ignorant this guy's post turned out to be.  According to current 2014 log graphs we're still in a bull market today.

This is the reason I completely ignore bears and trolls on this sub, and will continue to do so for years into the future.

Bitcoin crashed from 7 to 2 USD between September '11 and November '11. So, technically he did not make a bad call. There's nothing wrong with being temporarily bearish on bitcoin.