Any thoughts about future direction ?

[ArsenShnurkov]

Just asking

[YoYa]

Left to right, with peaks and troughs.

[trogdorjw73]

Christmas is coming, the geese are getting fat, and people need money to go buy a new hat. I foresee a lot of miners selling off what they can while they're still in the green (e.g. over electrical costs). It's what I'm doing at least, though with only 2GH/s I'm not exactly a major factor -- about 0.05% of the total Bitcoin network power I think? Anyway, my bet is we see an even lower low than what we've had in October and November, if only because of the desire to shop for gifts.

[Edward50]

THE MANIPUALTOR either pulled out or his bid walls got sold into. where the heck do you think it is going without santa manipualtor.

[StewartJ]

I'm dreaming of a nice bidwall, like all the bidwalls I use to know...

[zby]

The rally speed was unsustainable  - a correction was long overdue and only the bid wall was postponing it, when it was broken this generated a lot of down momentum - but it quickly got dumped.  Maybe it is still early - but it seems that this time a sell off of 45K BTCs didn't have the same consequences as the last time - that shows the strength of the uptrend.  My prediction is that there will be one small wave up, then again one down and then we'll be back to the up trend.

[ElectricMucus]

I think that is it for now, we are at least heading back to 2.9 but if it will surpass 3.14 is questionable.

[Jonathan Ryan Owens]

going to 2.6

then to 2.9

then above 3, stall out early in the week

big sell off back to 2.8

upswing to 3.5

[ArsenShnurkov]

Can your explain your targets?

I can also write something:

Down to 2
Up to 2.4
Down to 1.9
Up to 2.2
Down to 1
Up to 1.8
Down to $0.75

[Technomage]

There is only one thing that I know for sure, the $2.5 zone is a massive bear trap. Combined with the incredible strength the $2 support zone has demonstrated in the past, Bitcoin has actually had more good news and more positive indicators (spikes in google trends, a probable reversal in transaction count decline etc.) than in a long time.

So unless some really bad news come up, I can't even see a test of $2 as a possibility. That's why we're in a big bear trap around the $2.5 mark and I think most people realize this, which will probably lead to back and forth between $2.5 and $3 for a while. There is a possibility of a spike to lower than $2.5 though, if there are people willing to step on it, so to speak.

And I do agree that the next time we pass $3, there is likely to be more enthusiastic buying at prices over $3, leading probably to a break of $3.5.

[neptop]

Always near to the loss-margin, but in general above it.

[YoYa]

It's good to see your hypothesis concur with mine! Onward price graph!

[Cluster2k]

The hype from the Fox news story has worn off.  Many people bought on the news and kept buying while it was going up.  As soon as momentum dropped the speculators tried to cash out as quickly as possible.

[ArsenShnurkov]

the speculators tried to cash out as quickly as possible

If it was started from 2.4, will it stop at 2.6 ?

[Cluster2k]

the speculators tried to cash out as quickly as possible

If it was started from 2.4, will it stop at 2.6 ?

Still on a downward trend.  I wouldn't expect it to go below $2.50 however.  Some people who bought on the sizzle of the news are likely to hold for better selling opportunities.

[SaintFlow]

if we can reach 3.25 we can go to the moon and have a nice little afterbubble.
otherwise I expect a drop of about .2-.3 over the next 2-3 weeks.

I for one am strained in chistmas budget and cannot buy additional coins this month.

[tulkos]

if we can reach 3.25 we can go to the moon and have a nice little afterbubble.
otherwise I expect a drop of about .2-.3 over the next 2-3 weeks.

I for one am strained in chistmas budget and cannot buy additional coins this month.

Can we first drop to 2.5 to ignite the engines in prep for lift off, its just where my money is thats all 

[netrin]

If bitcoin does not breach $3.14 immediately, and I do not think it will, then I expect a bounce below $2.6 before peaking in the $3's. However, a drop below $2.5 (the first peak 20 November since <$2) would have devastating psychological impact.

[Crypt_Current]

Nope, none.  I'm gonna go click some things and make some numbers happen now.

[neptop]

Hmm the fact that difficulty is very likely to rise could have a positive effect (as it will become cheaper to buy them).