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Author Topic: Rally!!  (Read 6688 times)
Jonathan Ryan Owens
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November 23, 2011, 08:45:25 AM
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November 23, 2011, 08:46:59 AM
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Matthew N. Wright
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November 23, 2011, 09:10:52 AM
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ElectricMucus
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November 24, 2011, 06:07:42 PM
 #4

we just spiked.
2.46

just sain.

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November 24, 2011, 06:38:50 PM
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Indeed, seems like there is some kind of a rally going on. Not surprising to me, the pressure has been building up for days.

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November 24, 2011, 06:50:45 PM
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Nothing is every surprising after it happens

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November 25, 2011, 12:29:02 AM
 #7

Haha, nice rally guys.  Almost back to pre-rally prices.
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November 25, 2011, 12:37:28 AM
 #8

Haha, nice rally guys.  Almost back to pre-rally prices.
Let me guess you have a short position which is too low for current circumstances?

That wasn't a rally. that was a spike. It went down to the baseline of the rise since 2.2, as expected. I doubt as well this will turn out to be a rally (by my definition that would go back over 3)
But there could be some upside before the drop.

I am mostly bearish as well but even I see it is not the best time to short...

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November 25, 2011, 05:06:59 AM
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Quote
I am mostly bearish as well but even I see it is not the best time to short...

Things could get interesting quite quickly atm  Wink

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November 25, 2011, 05:09:37 AM
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I am mostly bearish as well but even I see it is not the best time to short...

Things could get interesting quite quickly atm  Wink

Only in one direction, I think.  I doubt we'll ever see prices above $3 again.
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November 27, 2011, 07:48:11 PM
 #11

350k usd in bid? What the hell is that?

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November 27, 2011, 10:10:00 PM
 #12

The coming 2 hours gonna be interesting, an even if it means nothing really bulls and bears are fighting over todays volume like mad.
The bulls can't let the bears win because 2 red days would be interpreted buy the masses as a failed rally and bears because they can't reach 2 or below anytime soon if they don't establish a downtrend.

Interesting how such a arbitrary point in time can mean so much to people  Shocked

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November 27, 2011, 10:20:54 PM
 #13

The coming 2 hours gonna be interesting
What makes you so sure that it has to happen within two hours? (Just curious)

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November 27, 2011, 10:27:38 PM
 #14

The coming 2 hours gonna be interesting
What makes you so sure that it has to happen within two hours? (Just curious)

Just the silly fact that bitcoincharts uses GMT 00:00 to get to a new day "open, close" prices. The last days especially the dojis all had a small fight right before it which the bulls have won. Which is why we had a full week "up", but prices didn't go above the high of the gravestone doji at the beginning at the rally.
We now have unusual high volume for the time. So I expect a bigger fight.

I'm not talking about new highs or lows just higher or lower than yesterday on 23:59:59 GMT..

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November 28, 2011, 12:10:50 AM
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Just the silly fact that bitcoincharts uses GMT 00:00 to get to a new day "open, close" prices. The last days especially the dojis all had a small fight right before it which the bulls have won. Which is why we had a full week "up", but prices didn't go above the high of the gravestone doji at the beginning at the rally.
We now have unusual high volume for the time. So I expect a bigger fight.

I'm not talking about new highs or lows just higher or lower than yesterday on 23:59:59 GMT..

Funny how the charting UIs can be a significant factor in bitcoin valuation.  It used to be that $2.38 was the magic spot where the $2.00 bidwall would disappear off of the MtGoxlive chart, and the price tended to hover around $2.35-$2.40.  Now there's been a change on MtGoxLive, and $2.00 bidwall is visible up until $2.50, and now the price is hovering around $2.50. 

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November 29, 2011, 10:08:12 AM
 #16

Breaking the $3 resistance will be very important and tough but I think we might see a reversal after this. Also if we break above 8-10 I'll reconsider Bitcoin as a currency. It will be more and more a commodity/investment. No major business will accept it as money if today it's 102 and tomorrow 106. Only if they cash out everything every evening.

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November 29, 2011, 12:39:20 PM
 #17

No major business will accept it as money if today it's 102 and tomorrow 106. Only if they cash out everything every evening.

Sounds like businesses would cease to accept Euro some time soon? Grin

USD/EUR exchange rate: 1.41 on 31th of October to 1.36 on 1st of November. That's about 3.68%, your example is 3.92%.

I think there are two wrong assumptions around. One, that a large Bitcoin would be unstable. Why should it be? The larger it gets, the better the speculators are who stabilize it. Two, that people are hellishly afraid of price fluctuations. These swings can go both ways, so unless a business puts all eggs into one basket, this is not a problem on the long run.

Once matured, Bitcoin has the advantage in terms of stability, at least when compared with EUR, USD and gold. CHF might be a worthy opponent, but just wait until any strange politics hit Switzerland, possibly by a jealous EU.
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November 29, 2011, 03:20:08 PM
 #18

CHF has been pegged to EUR for a few months now. Basically it is the same thing, just different image on the paper now.
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November 29, 2011, 03:45:15 PM
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The larger it gets, the better richer the speculators are who destabilize it. Two, that people are hellishly afraid   love nothing more than large price fluctuations.

Fixed that for you.

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November 29, 2011, 04:34:02 PM
 #20

And, that be profit takin'!  Shocked

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