The next 8 to 48 hours?

[Bit_Happy]

The next 8 to 48 hours should be exciting since the market is finally showing some movement.
If $500/$507 (btc-e) holds, then an eventual Rally is coming.
If it breaks below $500 many people will expect $400 (or lower) so we might drop fast, then an Bigger Rally is coming ASAP.

Markets tend to "mess with you", so...
If it dips below $500 (ie. $498.98), and slowly starts to Rally, then just flip a coin and you will know exactly where the market is going. 

No matter what happens:
An eventual Rally is coming.

• Will you be ready (after buying on the way down), or nervously hoping it goes back down to the bottom you missed?

[rikkie]

Don't know what's it gonna be. Hope doesn't go too much down.

[Zule]

Wouldnt you like to know...

[podyx]

i expect a bulltrend if it doesnt go below $480(flash crash dont count) the next 3-5 days

[stancarrott]

Doesn't it all depend on whether China ban is a hoax or not?

Surely, if we get confirmation of the story, it will drop like a rock.
On the other hand, if the PBOC comes out with a statement refuting it and restating their position (like they did last time), then we should see a rally....

[Wandererfromthenorth]

$400 or even lower is a lot more likely gonna be the bottom than 500$ IMHO seeing the speed of this dump and the news and rumors going around.

The rally is definitely gonna happen but NOT now, it's gonna take a loooong time to properly rally again, hopefully to the next bubble. I'm guessing it's not gonna happen until around june or something.
After the bottom we will probably see sideways or a really slow uptrend.
 

[tvbcof]

I expect that this is the period of time when people have evaluated their tax situation given that the guidance is out.  I know I was up last night collating numbers for 2013.  I basically took a conservative approach and had the fiat I needed on hand, but could easily have ended up needing a little more.  Had that happened I would have sold now rather than waiting for a re-bound so I didn't get boxed into a corner and forced to sell at a bottom.  Hopefully that is contributing to the current decline.

The tax news is good for U.S. people who hold decent hoards and know how the tax structure is designed (read, by and for the rich) so I could see more people with money deciding to jump in BTC as a speculative play.  And they would have to hodl for a while to get long-term capital gains.  Should this happen I could see notably higher valuations even absent any significant economic breakdowns a-la Cyprus.  Bitcoin will always have some supply-side tightness due to it's design so demand is extra important.

[Bit_Happy]

$400 or even lower is a lot more likely gonna be the bottom than 500$ IMHO seeing the speed of this dump and the news and rumors going around.

The rally is definitely gonna happen but NOT now, it's gonna take a loooong time to properly rally again, hopefully to the next bubble. I'm guessing it's not gonna happen until around june or something.
After the bottom we will probably see sideways or a really slow uptrend.
 

THE rally is definitely gonna happen, but not now.
A smaller Rally to $700, $800 even $900 is very possible.
These markets are nuts, a bit of good news and we could see a nice spike.

[R2Pleasent]

You must be confused.  This market is being led by China.  They will decide our direction, not BTC-e.

[dropt]

These markets are nuts, a bit of good news and we could see a nice spike.

There has been a plethora of good news over the last two months.  I think it's going to take a little more than "good news" to turn this around ATM.  However, yesterday was looking promising, but then the self-prescribed day-traders and weak hands did what they do.

[Cassius]

However, yesterday was looking promising, but then the self-prescribed day-traders and weak hands did what they do.

How so? Nothing of particular interest happened yesterday did it - no major upward movements?

[dropt]

However, yesterday was looking promising, but then the self-prescribed day-traders and weak hands did what they do.

How so? Nothing of particular interest happened yesterday did it - no major upward movements?

Green candle for one, however from what limited time I was able to actively watch the market it appeared as though there was a slow climb in price despite a constant influx of sell orders.  Further, the wall @<$600 was bolstered with a mob of asks which didn't deter the buying.  It seemed apparant watching the cumulative depth at the $650 and $700 price points.

[balanghai]

If it stays longer on 400-500ish it would be paradise for merchants as payments in BTC are payed much higher.

[K128kevin]

My neural network prediction project (http://www.btcpredictions.com/) is predicting a pretty decent sized climb over the next 24 hours, and I'm inclined to believe that it will be correct about this.

[MNDan]

It's been weird, though - we've had lots of good news recently and it hasn't moved much, but one rumor from China shows up and down we go. :-/

[kireinaha]

I'm not touching my coins. every time I do, the market does the exact fucking oppsoite. every time. that being said, I think we'll be testing the post gox low again within the next few days. dark times ahead, folks.

[Cassius]

However, yesterday was looking promising, but then the self-prescribed day-traders and weak hands did what they do.

How so? Nothing of particular interest happened yesterday did it - no major upward movements?

Green candle for one, however from what limited time I was able to actively watch the market it appeared as though there was a slow climb in price despite a constant influx of sell orders.  Further, the wall @<$600 was bolstered with a mob of asks which didn't deter the buying.  It seemed apparant watching the cumulative depth at the $650 and $700 price points.

Cool, thanks. Never ask a stupid question, never learn anything new.
I figure we need to properly establish 500 as a baseline before anything interesting (upwards, anyway) happens.

[kireinaha]

It's been weird, though - we've had lots of good news recently and it hasn't moved much, but one rumor from China shows up and down we go. :-/

good news?? lol you must be joking. every god damn day has brought bad news for weeks now.

[Cassius]

My neural network prediction project (http://www.btcpredictions.com/) is predicting a pretty decent sized climb over the next 24 hours, and I'm inclined to believe that it will be correct about this.

Wow, yes it does!
Your chance to shine (no pressure...). Good luck!

[dropt]

It's been weird, though - we've had lots of good news recently and it hasn't moved much, but one rumor from China shows up and down we go. :-/

good news?? lol you must be joking. every god damn day has brought bad news for weeks now.

WTF?  I wholeheartedly disagree.