Soon

[teflone]

I think we are going back to about $2.60, the site of the first large bidwall. A lot of activity occurred there. If we break down through $2.60, it's going further down. If it rebounds from $2.60, then we can expect more upside.

So you expect the wall @2.9 to pop?

oh btw the panic sells orders just got raped.

Yes, they were ate up quite quickly.. I think we have something going on right now...

[Jonathan Ryan Owens]

[mjcmurfy]

I think we are going back to about $2.60, the site of the first large bidwall. A lot of activity occurred there. If we break down through $2.60, it's going further down. If it rebounds from $2.60, then we can expect more upside.

So you expect the wall @2.9 to pop?

oh btw the panic sells orders just got raped.

Yes, they were ate up quite quickly.. I think we have something going on right now...

There is very little going on actually. The silence is creepy.

We had a strong bullish onslaught yesterday and now things are plateauing. It is likely that the manipulator owns a significant part of the ask walls, so he is profiting nicely from the coins that he purchased when the price was low. It was relatively easy to pump the price then, but it becomes more and more expensive to do so as it increases. Once profit taking is complete, the price will fall again as the bulls cash out and take back all the fiat they pumped it with.

[old_engineer]

I think some of those new bidwalls are new bitcoiners that actually want to get into the market, and haven't figured out that it's difficult to buy any volume of bitcoin without executing market orders.

And this is too funny not to share: it's easy to tell if you've used the ignore button correctly.

This user is currently ignored.

Do you never get tired of that Jonathan? It seems like such blatant propaganda.
You're probably right, but can you not try to be a bit less sardonic about it?

[mjcmurfy]

This is a 60 day heat-map that shows particular areas of price 'heat' or activity. It is a very good indicator of real price support confirmed by actual trading and not the mtgox depth chart, which is very misleading. You can see a lot of support at around $2.60, and a lot less at $2.90. Thats why I think the $2.90 area will be tested, and if it fails we will slide back to at least $2.60.

[Jonathan Ryan Owens]

This is a 60 day heat-map that shows particular areas of price 'heat' or activity. It is a very good indicator of real price support confirmed by actual trading and not the mtgox depth chart, which is very misleading. You can see a lot of support at around $2.60, and a lot less at $2.90. Thats why I think the $2.90 area will be tested, and if it fails we will slide back to at least $2.60.

I agree 100%, sir. Sorry you think I'm too sardonic. I love that word by the way, and good on you for using it correctly.

-Jonathan

[mjcmurfy]

And this is too funny not to share: it's easy to tell if you've used the ignore button correctly.

This user is currently ignored.

Do you never get tired of that Jonathan? It seems like such blatant propaganda.
You're probably right, but can you not try to be a bit less sardonic about it?

ROFL! 

[Dan The Man]

This is a 60 day heat-map that shows particular areas of price 'heat' or activity. It is a very good indicator of real price support confirmed by actual trading and not the mtgox depth chart, which is very misleading. You can see a lot of support at around $2.60, and a lot less at $2.90. Thats why I think the $2.90 area will be tested, and if it fails we will slide back to at least $2.60.

It looks quite warm at 2.60 we should go there for Christmas to escape the winter gloom.

[Jonathan Ryan Owens]

And this is too funny not to share: it's easy to tell if you've used the ignore button correctly.

This user is currently ignored.

Do you never get tired of that Jonathan? It seems like such blatant propaganda.
You're probably right, but can you not try to be a bit less sardonic about it?

ROFL! 

Oh Snap! It goes both ways!! XD

[ElectricMucus]

This is a 60 day heat-map that shows particular areas of price 'heat' or activity. It is a very good indicator of real price support confirmed by actual trading and not the mtgox depth chart, which is very misleading. You can see a lot of support at around $2.60, and a lot less at $2.90. Thats why I think the $2.90 area will be tested, and if it fails we will slide back to at least $2.60.

Is this your work? I found a similar thing on the forum which I used a while ago (unknowingly by the author) for orientation, but the webspace where these images were hosted & updated went down. I would really like to have access to something like it again ...

[teflone]

I think we are going back to about $2.60, the site of the first large bidwall. A lot of activity occurred there. If we break down through $2.60, it's going further down. If it rebounds from $2.60, then we can expect more upside.

So you expect the wall @2.9 to pop?

oh btw the panic sells orders just got raped.

Yes, they were ate up quite quickly.. I think we have something going on right now...

There is very little going on actually. The silence is creepy.

We had a strong bullish onslaught yesterday and now things are plateauing. It is likely that the manipulator owns a significant part of the ask walls, so he is profiting nicely from the coins that he purchased when the price was low. It was relatively easy to pump the price then, but it becomes more and more expensive to do so as it increases. Once profit taking is complete, the price will fall again as the bulls cash out and take back all the fiat they pumped it with.

I sense something completely different.. maybe what you call creepy silence is what Im picking up...

Personally.. I think its about to make a major move.. somewhere.. lol

[zby]

It was too fast in last two days - it now need to stagnate for some time for the trendlines to catch up the actual price   Nervous time - that 50K wall somehow does not diminish that anxiety.

[teflone]

This is a 60 day heat-map that shows particular areas of price 'heat' or activity. It is a very good indicator of real price support confirmed by actual trading and not the mtgox depth chart, which is very misleading. You can see a lot of support at around $2.60, and a lot less at $2.90. Thats why I think the $2.90 area will be tested, and if it fails we will slide back to at least $2.60.

I agree 100%, sir. Sorry you think I'm too sardonic. I love that word by the way, and good on you for using it correctly.

-Jonathan

The Bitcoin grammar police, to correct, and serve...

Dont forget you posted this at the bitcoin watch tech page..

JonathanRyanOwens said Nov 19, 2011
Also, price of Bitcoin < $1.7 within a week. You heard it here first, folks!

[Jonathan Ryan Owens]

This is a 60 day heat-map that shows particular areas of price 'heat' or activity. It is a very good indicator of real price support confirmed by actual trading and not the mtgox depth chart, which is very misleading. You can see a lot of support at around $2.60, and a lot less at $2.90. Thats why I think the $2.90 area will be tested, and if it fails we will slide back to at least $2.60.

I agree 100%, sir. Sorry you think I'm too sardonic. I love that word by the way, and good on you for using it correctly.

-Jonathan

The Bitcoin grammar police, to correct, and serve...

Dont forget you posted this at the bitcoin watch tech page..

JonathanRyanOwens said Nov 19, 2011
Also, price of Bitcoin < $1.7 within a week. You heard it here first, folks!

LOL. U GOT ME! OH NOES!

[teflone]

This is a 60 day heat-map that shows particular areas of price 'heat' or activity. It is a very good indicator of real price support confirmed by actual trading and not the mtgox depth chart, which is very misleading. You can see a lot of support at around $2.60, and a lot less at $2.90. Thats why I think the $2.90 area will be tested, and if it fails we will slide back to at least $2.60.

I agree 100%, sir. Sorry you think I'm too sardonic. I love that word by the way, and good on you for using it correctly.

-Jonathan

The Bitcoin grammar police, to correct, and serve...

Dont forget you posted this at the bitcoin watch tech page..

JonathanRyanOwens said Nov 19, 2011
Also, price of Bitcoin < $1.7 within a week. You heard it here first, folks!

LOL. U GOT ME! OH NOES!

You heard it here first folks..

[Edward50]

This is a 60 day heat-map that shows particular areas of price 'heat' or activity. It is a very good indicator of real price support confirmed by actual trading and not the mtgox depth chart, which is very misleading. You can see a lot of support at around $2.60, and a lot less at $2.90. Thats why I think the $2.90 area will be tested, and if it fails we will slide back to at least $2.60.

The reason for the resistance at $2.60 was because someone decided at that point to dumb around 50K coins all at once. The manipulator's bidwall ate most of it up, he then pulled out after that dropping the price down to $2.00. The only significance the $2.60 had was all because of this person dropping 50K coins at that very moment.
 You have to realize the market is held up by the manipulator. Its total manipulation and speculation at this point. No reason to use bitcoins for any other purpose.

[mjcmurfy]

I just calculated this interesting statistic using trade data pulled from the mtgox api:

Price 24 hrs ago:   $3.01
Current Price:       $3.10
Day High:            $3.14

24hr Buying (bid) Volume: 33536 btc / $103443
24hr Selling (ask) Volume: 35696 btc / $109202

The price is still above the opening price 24 hours ago, but there has been more selling going on than buying to the tune of 2160 btc, or $5759. Yet the price is still higher than it was at opening. Is it just me, or does this seem odd to anyone? Or are my calculations wrong somehow?

[ElectricMucus]

I just calculated this interesting statistic using data pulled from the mtgox api:

Price 24 hrs ago:   $3.01
Current Price:       $3.10
Day High:            $3.14

24hr Buying (bid) Volume: 33536 btc / $103443
24hr Selling (ask) Volume: 35696 btc / $109202

The price is still above the opening price 24 hours ago, but there has been more selling going on than buying to the tune of 2160 btc, or $5759. Yet the price is still higher than it was at opening, 24 hours ago?

Is it just me, or does this seem odd? Or are my calculations wrong?

That is certainly possible if more buyers put in a lower order in the hope it is getting filled, factor in competition you end up with rising prices. It could also be people pushing the price if they have bought larger amounts earlier and place bids in order to make the price rise.

[mjcmurfy]

What I mean though is that 2160 more coins were sold over the past 24 hours than were bought, but the price is still somehow higher than it originally was. That just does not seem right to me.

Could it be a result of covering up larger volume 'dumps' with smaller volume rebuys? In other words, sneaky profit taking?

EDIT: Correction, make that 2997btc ($8315) more selling than buying.
EDIT2: That last spike to $3.12 reduced the gap again to 2308 btc / $6175

[N12]

Anytime now. Enjoy your last minutes of hope.