old_engineer
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January 17, 2012, 05:50:47 AM |
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I think I'll stop watching the price. I saw it sliding back to 6.7 for the 9001st time today and it's really getting old. Fucking DO SOMETHING! Wise old man say: value of currency rises when it stay the same.
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proudhon
Legendary
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Activity: 2198
Merit: 1311
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January 17, 2012, 06:08:03 AM |
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Seriously, where did all those bitcoins come from on the ask side? Did they just pop up all at once? When I left for work this morning asks were at maybe 45,000BTC to $8. Now it's almost 100,000BTC to $8. When did that happen?
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Bitcoin Fact: the price of bitcoin will not be greater than $70k for more than 25 consecutive days at any point in the rest of recorded human history.
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NamelessOne
Legendary
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Activity: 840
Merit: 1000
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January 17, 2012, 06:21:09 AM |
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They shifted around over the course of a couple minutes pretty quickly. I appeared as though a big player on the buy side removed all his/her buys and simply added a ton to the sells in addition to sells that were going up already.
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the joint
Legendary
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Activity: 1834
Merit: 1020
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January 17, 2012, 06:32:08 AM |
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I'm optimistic. It would really suck for new users to get caught up in the crazy selling that would've occurred one week from now (right as their funds are arriving in exchanges) on the way down from $10-$11.
If we had shot past $7.25 last night, it likely would not have stopped at $8.
Edit: On the flip side, going down to $5 now would be worse in my opinion. But then again, I'm holding temporarily from $7 because I did not expect this dip. On a large scale, $5 has its merits.
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bittenbob
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January 17, 2012, 06:36:40 AM |
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I'm optimistic. It would really suck for new users to get caught up in the crazy selling that would've occurred one week from now (right as their funds are arriving in exchanges) on the way down from $10-$11.
If we had shot past $7.25 last night, it likely would not have stopped at $8.
That's assuming it wouldn't stabilize around 10. It very well could as the increasing price would bring more confidence to the market and in turn support. Imagine someone who sold at 10 and say it goes to 12. That person who sold at 10 will say if it can hit 12 I need to buy back in close to 10 (if it hits there). This is how resistance turns into support and I have seen it happen a number of times including in my own trading ($3-$5 range)
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the joint
Legendary
Offline
Activity: 1834
Merit: 1020
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January 17, 2012, 06:46:36 AM |
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I'm optimistic. It would really suck for new users to get caught up in the crazy selling that would've occurred one week from now (right as their funds are arriving in exchanges) on the way down from $10-$11.
If we had shot past $7.25 last night, it likely would not have stopped at $8.
That's assuming it wouldn't stabilize around 10. It very well could as the increasing price would bring more confidence to the market and in turn support. Imagine someone who sold at 10 and say it goes to 12. That person who sold at 10 will say if it can hit 12 I need to buy back in close to 10 (if it hits there). This is how resistance turns into support and I have seen it happen a number of times including in my own trading ($3-$5 range) Very possible. $10 just doesn't seem realistic to me yet for a number of possible reasons.
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Serge
Legendary
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Activity: 1050
Merit: 1000
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January 17, 2012, 07:43:15 AM |
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stability is good, don't be greedy, guys )
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StewartJ
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January 17, 2012, 08:58:21 AM |
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stability is good, don't be greedy, guys )
Trading in the 5 cent range for the last 6 hours. Been a while since we've had such a steady quiet time. Now we can gauge the movement, when it comes.
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Crypt_Current
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January 17, 2012, 08:59:52 AM |
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I think I'll stop watching the price. I saw it sliding back to 6.7 for the 9001st time today and it's really getting old. Fucking DO SOMETHING! Word this ^ It's times like these I'm grateful for having the pursuit of higher education to take my obsession mind off BTC for a bit... ... it won't stop me from keeping btccharts.com up on the other monitor though...
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Serge
Legendary
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Activity: 1050
Merit: 1000
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January 17, 2012, 09:05:42 AM |
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good morning Europe
soon US banks to resume from extended weekend.
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Crypt_Current
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January 17, 2012, 09:07:59 AM |
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good morning Europe
soon US banks to resume from extended weekend.
True and true. We'll see. Damn I'm about to pass out, I really hope I don't miss any spikes while I sleep... Lovin' that sig btw
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waspoza
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January 17, 2012, 11:26:06 AM |
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Price is moving very sneaky today. Breaking $7 ninja style?
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BTCurious
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January 17, 2012, 11:28:46 AM |
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Price is moving very sneaky today. Breaking $7 ninja style? Shhh…
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zby
Legendary
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Activity: 1592
Merit: 1001
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January 17, 2012, 11:33:25 AM |
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Price is moving very sneaky today. Breaking $7 ninja style? Must be the Amazon effect.
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Cluster2k
Legendary
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Activity: 1692
Merit: 1018
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January 17, 2012, 11:35:00 AM |
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Quiet everyone, I need my 6.99 ask to be executed before momentum heads back down again. Keep creeping forward, little orange line.
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SkRRJyTC
Legendary
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Activity: 1008
Merit: 1000
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January 17, 2012, 12:36:46 PM |
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My intelligent side says to at least de-leverage some now... but my conspiracy side thinks that all the asks that quickly went up yesterday are about to come down even quicker...
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Serge
Legendary
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Activity: 1050
Merit: 1000
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January 17, 2012, 12:49:56 PM |
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My intelligent side says to at least de-leverage some now... but my conspiracy side thinks that all the asks that quickly went up yesterday are about to come down even quicker...
once we cross 7.2
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jojo69
Legendary
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Activity: 3290
Merit: 4534
diamond-handed zealot
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January 17, 2012, 03:13:08 PM Last edit: January 17, 2012, 03:24:43 PM by jojo69 |
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ulp
watch for confirmation guys, could be a fakeout
edit-attempt to paint the tape, market isn't selling it
2nd edit- another big bear probe, still holding over 6.51 and rebounding well, no confirmation yet
3rd edit- alas, the tape doesn't lie, I think they may have us for now
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This is not some pseudoeconomic post-modern Libertarian cult, it's an un-led, crowd-sourced mega startup organized around mutual self-interest where problems, whether of the theoretical or purely practical variety, are treated as temporary and, ultimately, solvable. Censorship of e-gold was easy. Censorship of Bitcoin will be… entertaining.
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