Well, it's settling down. Where will it go from here?

[jojo69]

I want to see some confirmation and volume

this could go either way

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[cypherdoc]

I want to see some confirmation and volume

this could go either way

this is exactly the psychology that will keep you out and eventually force you to chase the rise.

the shake out damages everyone's confidence and thats precisely when the market makes its move.

listen to the silence here on the Spec Forum.  most everyone is dead.

[arepo]

this is just the beginning. triple, quadruple, top. we're going down from here. there isn't enough faith in bitcoin to sustain prices over $7, remember the summer bubble was just this year. doubt prevented the 'obvious' rally to $8, and nothing's changed except a MASSIVE long squeeze reminding everyone just how risky their positions are. the slopes on each side up, then down from $7 demonstrate that what we saw was an echo bubble. expect a correction to the 'true' value of bitcoin (it will be above $2, that was an overcorrection). but we're going down from here.

bull market is over, for now.

[notme]

this is just the beginning. triple, quadruple, top. we're going down from here. there isn't enough faith in bitcoin to sustain prices over $7, remember the summer bubble was just this year. doubt prevented the 'obvious' rally to $8, and nothing's changed except a MASSIVE long squeeze reminding everyone just how risky their positions are. the slopes on each side up, then down from $7 demonstrate that what we saw was an echo bubble. expect a correction to the 'true' value of bitcoin (it will be above $2, that was an overcorrection). but we're going down from here.

bull market is over, for now.

Please put your money where your mouth is:
www.bitcoinica.com

[NamelessOne]

this is just the beginning. triple, quadruple, top. we're going down from here. there isn't enough faith in bitcoin to sustain prices over $7, remember the summer bubble was just this year. doubt prevented the 'obvious' rally to $8, and nothing's changed except a MASSIVE long squeeze reminding everyone just how risky their positions are. the slopes on each side up, then down from $7 demonstrate that what we saw was an echo bubble. expect a correction to the 'true' value of bitcoin (it will be above $2, that was an overcorrection). but we're going down from here.

bull market is over, for now.

What about the long term trend line?

[Serge]

this is just the beginning. triple, quadruple, top. we're going down from here. there isn't enough faith in bitcoin to sustain prices over $7, remember the summer bubble was just this year. doubt prevented the 'obvious' rally to $8, and nothing's changed except a MASSIVE long squeeze reminding everyone just how risky their positions are. the slopes on each side up, then down from $7 demonstrate that what we saw was an echo bubble. expect a correction to the 'true' value of bitcoin (it will be above $2, that was an overcorrection). but we're going down from here.

bull market is over, for now.

HUGE RALLY ON THE WAY.  you'll be dreaming to get at $7 when it doubles

[jojo69]

I want to see some confirmation and volume

this could go either way

this is exactly the psychology that will keep you out and eventually force you to chase the rise.

the shake out damages everyone's confidence and thats precisely when the market makes its move.

listen to the silence here on the Spec Forum.  most everyone is dead.

Oh, I get that, and I respect your analysis

I have no problem taking my haircut to get on the train, I tend to trade pretty close to the current price anyway, I'm just not sure it has steam up just yet.



I see it break this? I'm on it like flies on dung

[arepo]

this is just the beginning. triple, quadruple, top. we're going down from here. there isn't enough faith in bitcoin to sustain prices over $7, remember the summer bubble was just this year. doubt prevented the 'obvious' rally to $8, and nothing's changed except a MASSIVE long squeeze reminding everyone just how risky their positions are. the slopes on each side up, then down from $7 demonstrate that what we saw was an echo bubble. expect a correction to the 'true' value of bitcoin (it will be above $2, that was an overcorrection). but we're going down from here.

bull market is over, for now.

Please put your money where your mouth is:
www.bitcoinica.com

i don't trade on bitcoinica because i don't need leverage to achieve the maximum risk i am willing to take. my money 'is where my mouth is' right now, i pulled out of my long position right before the crash, took my 50+% returns, and have bids set at $4-5 so i can catch the next serrated edge of the...

fall
ling
kn
i
f
e

im all in usd and you should be too

[arepo]

this is just the beginning. triple, quadruple, top. we're going down from here. there isn't enough faith in bitcoin to sustain prices over $7, remember the summer bubble was just this year. doubt prevented the 'obvious' rally to $8, and nothing's changed except a MASSIVE long squeeze reminding everyone just how risky their positions are. the slopes on each side up, then down from $7 demonstrate that what we saw was an echo bubble. expect a correction to the 'true' value of bitcoin (it will be above $2, that was an overcorrection). but we're going down from here.

bull market is over, for now.

What about the long term trend line?

no trend, echo bubble. take a look at the daily-scale oscillators:

http://bitcoincharts.com/charts/mtgoxUSD#rg60zigDailyztgSzm1g10zm2g25zxzi1gMACDzi2gMFIzi3gRSIzi4gWilliamRzv

MACD crossed awhile ago. MFI, RSI, and William's have all been in overbought zone for months and are now starting to zig-zag down.

[antoineph]

this is just the beginning. triple, quadruple, top. we're going down from here. there isn't enough faith in bitcoin to sustain prices over $7, remember the summer bubble was just this year. doubt prevented the 'obvious' rally to $8, and nothing's changed except a MASSIVE long squeeze reminding everyone just how risky their positions are. the slopes on each side up, then down from $7 demonstrate that what we saw was an echo bubble. expect a correction to the 'true' value of bitcoin (it will be above $2, that was an overcorrection). but we're going down from here.

bull market is over, for now.

HUGE RALLY ON THE WAY.  you'll be dreaming to get at $7 when it doubles

Someone is wrong.

[Serge]

this is just the beginning. triple, quadruple, top. we're going down from here. there isn't enough faith in bitcoin to sustain prices over $7, remember the summer bubble was just this year. doubt prevented the 'obvious' rally to $8, and nothing's changed except a MASSIVE long squeeze reminding everyone just how risky their positions are. the slopes on each side up, then down from $7 demonstrate that what we saw was an echo bubble. expect a correction to the 'true' value of bitcoin (it will be above $2, that was an overcorrection). but we're going down from here.

bull market is over, for now.

HUGE RALLY ON THE WAY.  you'll be dreaming to get at $7 when it doubles

Someone is wrong.

anything's possible.

i was wrong on occasion of Bitcoinica providing fair balance to crazy market until someone decided to rock that boat.

after all what happened last night we're still at $6 not $1, $2, $3 or even $4.
there is no sentiment or signals indicating that movement that started in November is in reversal.  We are moving up and forward. If we continue to grow slowly like we have been so far, we'll be very fine. i say good luck waiting for price to drop below $1 or even $2

[antoineph]

I didn't say who was wrong  

[Serge]

I didn't say who was wrong  

it's alright, my statement deserved explanation anyway

[jojo69]

We won't have to wait long.

could be several days yet

[Sargasm]

Sweet spot @ 6 it looks like...

I'm buying at 6.20 ATM...

I don't mind losing a little skin to gain an arm and a leg.