Rally!!!

[Technomage]

I do agree with this. There are way too many threads in this category. Way too many. We could cover all the topics people usually discuss in like 3 threads.

[gewure]

back to topic then:

Rally!!!

 

[S3052]

I do agree with this. There are way too many threads in this category. Way too many. We could cover all the topics people usually discuss in like 3 threads.

this makes a lot of sense. One suggestion can be to discuss all technical factors related to bitcoin trading / investing / speculation in the bitcoin technical analysis thread.

I can not review and comment all threads, but will try to be as active as possible in this one thread.

https://bitcointalk.org/index.php?topic=1493.1500

[Technomage]

Looks like we're in for a drop right now. It's a fairly crucial situation for the short term, if we bounce back to $3.60+ there could be an extended rally. But if not, we will probably have a test of $3 soon.

[ArsenShnurkov]

we will probably have a test of $3 soon

It is time to become bear:

[Bigpiggy01]

Umm a lot of bots aren't operating atm on Mtgox (heard in IRC) unless I'm much mistaken that should put us back to the weekend dump Monday correct situation we had a while back.

[Red]

These were the largest transactions:

Oct29 04:49:57 mtgox    2,040.0000 @     3.35       USD
Oct29 04:50:07 mtgox    1,000.0000 @     3.48       USD
Oct29 04:50:08 mtgox       850.0000 @     3.48455 USD
Oct29 04:50:09 mtgox    4,456.3342 @     3.50       USD

Of course, this could have been the same person. But this shows that there was at least one individual throwing around thousands of coins.
There's lots of smaller transactions of a few hundred BTC too.

Edit: Also note the sheer speed with which this went. ~10k BTC within 12 seconds, and this is just the large sums.

I'm curious, did anyone check to see if these coins came out of MTGox? I mean:
1) Did someone "redeem" them for actual block list BTC so they could transfer them to someone else?
2) Or are they still sitting in a hidden MTGox account?

The first case would seem like a large (maybe international) money transfer.
The second case seems more like speculation.

[phelix]

Umm a lot of bots aren't operating atm on Mtgox (heard in IRC) unless I'm much mistaken that should put us back to the weekend dump Monday correct situation we had a while back.

any special reason for the bots not operating?

[BTCurious]

Umm a lot of bots aren't operating atm on Mtgox (heard in IRC) unless I'm much mistaken that should put us back to the weekend dump Monday correct situation we had a while back.

any special reason for the bots not operating?

The websocket is down, so they can't connect. You have to do all transactions via the site now.

[Bigpiggy01]

I think that might actually put us back in a more "early days"  trading scenario until it's they're all back online.

[Tril]

if someone could help me and post a few liftoff pictures in this thread, I would appreciate it.

https://www.youtube.com/watch?v=rvDqoxMUroA
if you have short attention span you may skip to 1:20

[Dan The Man]

Well when we are in a forum called "speculation" about a one dimensional value, there is really only so much we can speculate about. Either it's going up or it's going down.

[SlaveInDebt]

http://blackacrebrewing.com/hey.swf
That is all.

[ElectricMucus]

Well when we are in a forum called "speculation" about a one dimensional value, there is really only so much we can speculate about. Either it's going up or it's going down.

Hey, if I want to I can extend it to 4 dimensions, each one for buys, sales and their respective volumes. 

[proudhon]

Nice rally guys.

[tvbcof]

Nice rally guys.

Was toying with a %100 increase, so ya, not bad.  Certainly enough for me to feel OK about putting in another largish chunk of fiat if we are lucky enough to get into the sub-$2 range.

[nmat]

The websocket is down, so they can't connect. You have to do all transactions via the site now.

My bot is still running through the old API. I need to change it to websockets, but I have been lazy lately...

[Zotia]

How quickly does the mtGox trade algorithm move? If you put in a buy for say 100000 btc at 10$ to grab all the open sell orders, how close would the timestamps be on all the little transactions that creates?

It depends on the speed of the server and how many orders there are.


A while ago (many weeks), I saw someone try to buy a large number of bitcoins.  There were tons of tiny sell orders (for 0.01 to 0.10 BTC).  It took so long that one single purchase took 7 minutes to complete.


While I haven't seen large amounts of lag like that recently, I would expect that it would take a while for mtgox to process a $1,000,000 order, since it would clear out the entire order book.

[nmat]

A clear breakout over $4 would confirm the reversal.

So are we still bear or are we experiencing the "weekend effect"?

[payb.tc]

we will probably have a test of $3 soon

It is time to become bear:

interesting screenshot... i didn't realise how different it looked in other browsers (compared to Chrome). it's completely invisible in IE and looks really weird in Opera.

anyway, only 4 blocks left til the drop!