Can someone explain how the price is so stable all of a sudden?

[anth0ny]

Yeah but only Gox was stupid enough to actually do it!

Moving the market is easy (if you've got a lot of BTC). Profiting off doing so is a lot harder.

Not true at all.

Especially not when the market is in indecisive phases, such as now.

Well, the part about Gox was a joke. They may or may not have actually been stupid enough to do it.

[Obi-Wan Coinobi]

Bitcoin is not "stable" until large holders are unable to move the market. This will never happen.

/end stupid thread.

The question is posed as "why is it stable right now", sorry if I wasn't clear.

Thanks to everyone else for the input.

[Walsoraj]

Bitcoin is not "stable" until large holders are unable to move the market. This will never happen.

/end stupid thread.

The question is posed as "why is it stable right now", sorry if I wasn't clear.

Thanks to everyone else for the input.

And I'm saying it isn't stable, not even temporarily, because someone can move the market at any moment.

[Obi-Wan Coinobi]

Bitcoin is not "stable" until large holders are unable to move the market. This will never happen.

/end stupid thread.

The question is posed as "why is it stable right now", sorry if I wasn't clear.

Thanks to everyone else for the input.

And I'm saying it isn't stable, not even temporarily, because someone can move the market at any moment.

Perhaps "stable" is the wrong word. How about "even"...is that better for you?

[Walsoraj]

Bitcoin is not "stable" until large holders are unable to move the market. This will never happen.

/end stupid thread.

The question is posed as "why is it stable right now", sorry if I wasn't clear.

Thanks to everyone else for the input.

And I'm saying it isn't stable, not even temporarily, because someone can move the market at any moment.

Perhaps "stable" is the wrong word. How about "even"...is that better for you?

Just stop talking and start apologizing to me. Make it personal, in poetic form. Thanks.

[Obi-Wan Coinobi]

Bitcoin is not "stable" until large holders are unable to move the market. This will never happen.

/end stupid thread.

The question is posed as "why is it stable right now", sorry if I wasn't clear.

Thanks to everyone else for the input.

And I'm saying it isn't stable, not even temporarily, because someone can move the market at any moment.

Perhaps "stable" is the wrong word. How about "even"...is that better for you?

Just stop talking and start apologizing to me. Make it personal, in poetic form. Thanks.

You like poems? Tell us all about that.

[Walsoraj]

Bitcoin is not "stable" until large holders are unable to move the market. This will never happen.

/end stupid thread.

The question is posed as "why is it stable right now", sorry if I wasn't clear.

Thanks to everyone else for the input.

And I'm saying it isn't stable, not even temporarily, because someone can move the market at any moment.

Perhaps "stable" is the wrong word. How about "even"...is that better for you?

Just stop talking and start apologizing to me. Make it personal, in poetic form. Thanks.

You like poems? Tell us all about that.

They inspire.

[ZiG]

At the moment is stable...making a "spring coil"...consolidation...

Most likely to resolve on the UP side...first resistance @ $620-630 level...short term(couple days)...around $750...medium (week or so)...$810-830 longer term...

This is what my "crystal ball" said...just kidding...

[MatTheCat]

At the moment is stable...making a "spring coil"...consolidation...

Most likely to resolve on the UP side...first resistance @ $620-630 level...short term(couple days)...around $750...medium (week or so)...$810-830 longer term...

This is what my "crystal ball" said...just kidding...

I thought that too...but Huobi has spoken...its going down.

[Obi-Wan Coinobi]

At the moment is stable...making a "spring coil"...consolidation...

Most likely to resolve on the UP side...first resistance @ $620-630 level...short term(couple days)...around $750...medium (week or so)...$810-830 longer term...

This is what my "crystal ball" said...just kidding...

I thought that too...but Huobi has spoken...its going down.

It's going down to shake all of the longs, then it's going to leave the shorts in the dust.

[MatTheCat]

At the moment is stable...making a "spring coil"...consolidation...

Most likely to resolve on the UP side...first resistance @ $620-630 level...short term(couple days)...around $750...medium (week or so)...$810-830 longer term...

This is what my "crystal ball" said...just kidding...

I thought that too...but Huobi has spoken...its going down.

It's going down to shake all of the longs, then it's going to leave the shorts in the dust.

Shorts have all been shorting like mad at $590.....they are in good profit already.

[dynodog]

noticed the same thing.  i think whales are trying to keep it stable in light of the gox debacle.  they don't want everyone to run for the hills.  got to keep that confidence going.  reminds me when the price stayed at just over $800 for way too long.  i thought the whales were trying to keep it less volatile so it looked more like a currency.  back then people complaining about how volatile bitcoin was.  ahh, the good old days when volatility was the extent of our problems

[ZiG]

I am not surprised...

Usually the bigger moves are starting...with so called "false breakout"...in the opposite direction...just to shake the "weak hands" + to get "more monkeys on the trees"....which means to get rid of longs and get more shorts to be screwed on the way UP...

Very well seen during the London (European ) session...something like playing "soccer" / football...let me trick you to the left...so we can go the the right...Capisco...?

Looking again at the crystal ball...$550-560 is a clear Support for now...We'll see...
  

[maurya78]

I guess the folks who wanted to buy at the lower prices are now all done

[pungopete468]

I guess the folks who wanted to buy at the lower prices are now all done

Nope, just waiting for a sign to see where the price is headed.

[Obi-Wan Coinobi]

At the moment is stable...making a "spring coil"...consolidation...

Most likely to resolve on the UP side...first resistance @ $620-630 level...short term(couple days)...around $750...medium (week or so)...$810-830 longer term...

This is what my "crystal ball" said...just kidding...

I thought that too...but Huobi has spoken...its going down.

It's going down to shake all of the longs, then it's going to leave the shorts in the dust.

Shorts have all been shorting like mad at $590.....they are in good profit already.

Nothing is a profit until you close though! 

[ZiG]

Just to add that all my price levels are based STRICTLY on BTC-e ...Bid-Ask...

The other exchanges will vary slightly...now we don't have MtGox anymore...

[MatTheCat]

Nothing is a profit until you close though! 

Most trading is bot trading and they are all hooked up to action on other exchanges.

Huobi has spoken. Even if it is all fake trades, Huobi has shown a clear break and unequivocal break down from the pennant trend formed across the past few days. The bots on the USD exchanges will react to that. And Chinese traders trading on USD exchanges will also follow suit.

And on top of that, 4hr indicators are all giving sell signals right now, at a point where we have just had a stagnant trend after a massive crash and 85% recovery.

But admittedly, utterly treacherous markets to trade. Both sides could be punished brutally here.

[ZiG]

Hey MatTheCat...Which 4H indicators are you using...?

[InsanityDev]

Why would the removal of the most unstable part of something not help it stabilize?