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Author Topic: Estimate the true amount of resistence around 7-7.25  (Read 2140 times)
SaintFlow
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January 11, 2012, 06:04:42 PM
 #1

What would a prudent guess of the true resistence
@ 6.90 - 7.25 be like?

2-3 times visible amount? More ? Less ?

If passing the resistence point fails again are we in for another round below 6?

For me the market is really a bit hot now. Really would hate to burn my fingers.








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ineededausername
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January 11, 2012, 06:07:27 PM
 #2

There is a huge amount of resistance.  That's great... it dampens the market and prohibits a bubble from forming, but when we break through it, we'll coast up to $9 Smiley

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January 11, 2012, 06:07:35 PM
 #3

What would a prudent guess of the true resistence
@ 6.90 - 7.25 be like?

2-3 times visible amount? More ? Less ?

If passing the resistence point fails again are we in for another round below 6?

For me the market is really a bit hot now. Really would hate to burn my fingers.


I was selling at 7.10 - 7.20 last time and I do not plan to do that this time.
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January 11, 2012, 06:13:20 PM
 #4

I don't know what the "true" resistance is, but I won't be selling either.  I have sell orders placed higher, however, as I think we'll be punching through soon enough.
StewartJ
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January 11, 2012, 06:16:53 PM
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There is a huge amount of resistance.  That's great... it dampens the market and prohibits a bubble from forming, but when we break through it, we'll coast up to $9 Smiley

My indicators are pointing this way.
StewartJ
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January 11, 2012, 06:17:44 PM
 #6

What would a prudent guess of the true resistence
@ 6.90 - 7.25 be like?

2-3 times visible amount? More ? Less ?

If passing the resistence point fails again are we in for another round below 6?

For me the market is really a bit hot now. Really would hate to burn my fingers.


I was selling at 7.10 - 7.20 last time and I do not plan to do that this time.

Ditto.  We are oozing resilience. I think the bulls are rearing to go.
notme
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January 11, 2012, 06:19:11 PM
 #7

I find Chodpaba's graphs informative.

https://bitcointalk.org/index.php?topic=22685.920

And yes, I also believe we will be at $9 once we punch through the resistance at 7.  7-ate-9.

https://www.bitcoin.org/bitcoin.pdf
While no idea is perfect, some ideas are useful.
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SaintFlow
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January 11, 2012, 07:03:39 PM
 #8

So what do you think then?

Do we need 200k Dollar or more towards 500k Dollar to cross the zone?

Ozing resilience...... ozing resilience...... bitcoin shure is.

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teflone
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January 11, 2012, 07:07:37 PM
 #9

I don't know what the "true" resistance is, but I won't be selling either.  I have sell orders placed higher, however, as I think we'll be punching through soon enough.

OMG!!!!!! Im investing heavily due to this comment...  no joke..

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January 11, 2012, 07:08:09 PM
 #10

So what do you think then?

Do we need 200k Dollar or more towards 500k Dollar to cross the zone?

Ozing resilience...... ozing resilience...... bitcoin shure is.

Ha ha - only tell us when you do it!
ineededausername
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January 11, 2012, 07:08:53 PM
 #11

I don't know what the "true" resistance is, but I won't be selling either.  I have sell orders placed higher, however, as I think we'll be punching through soon enough.

OMG!!!!!! Im investing heavily due to this comment...  no joke..

LOL... proudhon finally makes a definitively bullish statement.

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notme
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January 11, 2012, 07:09:52 PM
 #12

So what do you think then?

Do we need 200k Dollar or more towards 500k Dollar to cross the zone?

Ozing resilience...... ozing resilience...... bitcoin shure is.

I believe the figure is closer to 1.5 million.  It may take a few days, but when it happens you'll know.

https://www.bitcoin.org/bitcoin.pdf
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January 11, 2012, 07:31:23 PM
 #13

I don't know what the "true" resistance is, but I won't be selling either.  I have sell orders placed higher, however, as I think we'll be punching through soon enough.

OMG!!!!!! Im investing heavily due to this comment...  no joke..

LOL... proudhon finally makes a definitively bullish statement.

OMG, up is down, black is white. What next, Edward becomes a bitcoin fanboy?

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StewartJ
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January 11, 2012, 07:43:48 PM
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I need a 1000 milligrams of Cautiousness to fight off this Bullish Contagion...

That and Jessi's Bitcoin Alert Tool.  Smiley
notme
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January 11, 2012, 07:50:36 PM
 #15

I don't think saying it will take $1.5 million is overly bullish.  I'm long, but I'm already in the black.  I might help rebuke 7.2 if we move too quick and take my good profits instead of ridiculous profits.  If we succeed, I can rebuy on the dip.

https://www.bitcoin.org/bitcoin.pdf
While no idea is perfect, some ideas are useful.
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cypherdoc
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January 11, 2012, 07:53:40 PM
 #16

What would a prudent guess of the true resistence
@ 6.90 - 7.25 be like?

2-3 times visible amount? More ? Less ?

If passing the resistence point fails again are we in for another round below 6?

For me the market is really a bit hot now. Really would hate to burn my fingers.

As I write this depth at $7.25 is about $156,000. I currently estimate that it would actually take closer to $400,000 to reach that level.

this analysis assumes that the asks stay put in a ramp.  they rarely do.

depending on how fast and to what extent sellers pull down their orders we could be at $9 quickly and w/o much money required.  it all depends on sentiment.
StewartJ
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January 11, 2012, 11:54:19 PM
 #17

I don't know what the "true" resistance is, but I won't be selling either.  I have sell orders placed higher, however, as I think we'll be punching through soon enough.

OMG!!!!!! Im investing heavily due to this comment...  no joke..

LOL... proudhon finally makes a definitively bullish statement.

OMG, up is down, black is white. What next, Edward becomes a bitcoin fanboy?

After that Nagel returns talking about how he only talked shit on Bitcoin for 5 months in order to buy sub $3 bitcoins and moves a couple coins out of his 30,000 coin address to prove it. Then our sun turns into a red giant.

30K Bitcoins.. holy cow!  I would be happy with just one thousand. Oh well, slowly but surely, one digital crypto-nugget at a time.
StewartJ
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January 12, 2012, 12:08:33 AM
 #18

Interesting Trading-in-range sort of day. We have been steady in the $6.90 range since early morning here, with one minor spike past $7. 

Testing those $7.20 waters and coming back down. I like where we are. 

Still not holding btc over-night here, as per what has happened few times last week.

notme
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January 12, 2012, 12:09:56 AM
 #19

Interesting Trading-in-range sort of day. We have been steady in the $6.90 range since early morning here, with one minor spike past $7. 

Testing those $7.20 waters and coming back down. I like where we are. 

Still not holding btc over-night here, as per what has happened few times last week.



I'm sure people are happy to buy them from you at night and sell them back in the morning for more fiat Wink.

https://www.bitcoin.org/bitcoin.pdf
While no idea is perfect, some ideas are useful.
12jh3odyAAaR2XedPKZNCR4X4sebuotQzN
StewartJ
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January 12, 2012, 02:32:05 AM
 #20

Interesting Trading-in-range sort of day. We have been steady in the $6.90 range since early morning here, with one minor spike past $7. 

Testing those $7.20 waters and coming back down. I like where we are. 

Still not holding btc over-night here, as per what has happened few times last week.



I'm sure people are happy to buy them from you at night and sell them back in the morning for more fiat Wink.

Yes my gift to the BTC community, and I sleep easy too.
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