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Author Topic: Resistance at Current Level Evaporated  (Read 983 times)
bittenbob
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January 14, 2012, 12:43:41 AM
 #1

After all this bearish activity it appears that most recent rally has pulled out all the bears attempting to push the price down. There is a lot of posturing right now but it appears that we are headed back up short term. Everyone yelling that it was going to crash is a sign that we were headed up. The next few hours will be key.
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teflone
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January 14, 2012, 12:45:35 AM
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Bingo!  Grin

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January 14, 2012, 12:49:39 AM
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And the cliffs of dover have melted into a gentle rolling hill on the ask walls, once again.
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January 14, 2012, 12:49:55 AM
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Honestly, I don't think its bears or bulls. It is some people with a ton of money who just push the price around when they feel like it for whatever reason, then it stabilizes at whatever new price they have chosen.
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January 14, 2012, 04:55:21 AM
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Honestly, I don't think its bears or bulls. It is some people with a ton of money who just push the price around when they feel like it for whatever reason, then it stabilizes at whatever new price they have chosen.

Totally agreed. There is no bulls or bear in this market, sorry to pop your cherry, but the guy above speaks the truth. A small group of millionaires are manipulating the market. They are taking turns taking profits and you can easily tell because every sell off comes a rally, rinse and repeat.
bittenbob
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January 14, 2012, 04:56:59 AM
 #6

I think you are forgetting about the effect bitcoinica has on the market. When the market swings to far in any one direction the position of those opposite to that of the market get liquidated and push it further.

As for resistance evaporating its currently 1000BTC to  6.46, our next stop.
legitnick
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January 14, 2012, 05:28:38 AM
 #7

SELL EVERYTHING means BUY EVERYTHING, ZOMG THE MARKET IS CRASHING means ZOMG THE PRICE IS GONNA GO UP.

5 BITCOIN RAFFLE GIVEAWAY
"I dont lift" - Lord Furrycoat
bittenbob
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January 14, 2012, 05:46:38 AM
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SELL EVERYTHING means BUY EVERYTHING, ZOMG THE MARKET IS CRASHING means ZOMG THE PRICE IS GONNA GO UP.

Completely agree
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January 14, 2012, 05:48:07 AM
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Honestly, I don't think its bears or bulls. It is some people with a ton of money who just push the price around when they feel like it for whatever reason, then it stabilizes at whatever new price they have chosen.

Totally agreed. There is no bulls or bear in this market, sorry to pop your cherry, but the guy above speaks the truth. A small group of millionaires are manipulating the market. They are taking turns taking profits and you can easily tell because every sell off comes a rally, rinse and repeat.

You guys got it.

Don't tell the folks having all the fun talking about free markets, Elliott Waves, supply and demand, etc. This is good practice for them in always having an explanation ready even if for no one other than themselves. Not so much for the Wavers though, the game they play is well known for making it trivially easy to fit whatever "patterns" one want to any set of data points, and to refit completely divergent variations at the drop of a new sample point  Smiley

"Science flies you to the Moon, religion flies you into buildings."
 - Victor Stenger

"Religion is regarded by the common people as true, by the wise as false, and the rulers as useful."
 - Seneca the Elder (ca. 54 BCE - ca. 39 CE) Roman rhetorician
bittenbob
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January 14, 2012, 05:56:08 AM
 #10

I think you are forgetting about the effect bitcoinica has on the market. When the market swings to far in any one direction the position of those opposite to that of the market get liquidated and push it further.

As for resistance evaporating its currently 1000BTC to  6.46, our next stop.

Hate to say I told you so. Oh wait, I don't! LOL
legitnick
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January 14, 2012, 06:04:26 AM
 #11

Back to 6.53 =D

5 BITCOIN RAFFLE GIVEAWAY
"I dont lift" - Lord Furrycoat
notme
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January 14, 2012, 06:08:41 AM
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Back to 6.53 =D

Don't you mean 6.6?

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While no idea is perfect, some ideas are useful.
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legitnick
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January 14, 2012, 06:17:19 AM
 #13

6.52800

5 BITCOIN RAFFLE GIVEAWAY
"I dont lift" - Lord Furrycoat
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