20/05/2014 Price movement from $445-500

[bryant.coleman]

I don't understand the need to get excited at these minute upswings. Remember that Bitcoin has declined to sub 450 levels from the peak of $1,232. Let's celebrate when Bitcoin touches the peak once again. Not before that.

[YipYip]

Looks like a Market manipulation.. It's back to 456 now.

Agreed, looks that way  

I hope u have taken a position @ 440 or r u still waiting for the fanatsy 330 prices ?

  How's it going mate! Still in fiat for that acquisition. You'll be pleased to hear we have moved though ($360's was looking unlikely : )

Currently @$431 still waiting.

How did your funding go - Have you moved that 150 on stamp yet?  gl btw

I will be doing the TT tommorow for about 80k ... still waiting on another 90k to come through

it has really consolidated even to a point a work mate I had a 2$ bet that he WOULD NOT get filled at 440 over the last 4 days ... I am now 2$ richer

I would definately hedge 50% @ 440 if u can get it dude

If we are talking mid-long term like I am 440-460 its all relative

[segeln]

I don't understand the need to get excited at these minute upswings. Remember that Bitcoin has declined to sub 450 levels from the peak of $1,232. Let's celebrate when Bitcoin touches the peak once again. Not before that.

I agree

[Malin Keshar]

maybe a big buy, followed by robot buys?

maybe something to do about the chinese spying over US enterprises?

maybe something to do with some btc good news we had last months, but are ignored in favor of chinese banings and stuff

who knows?

[akujin]

I was able to compute almost the exact date that bitcoin will break one of the upper resistance. I did this around a month ago with the 12hr chart
jan.6(0:00UTC)  to mar.3 = 56days
mar.3 to apr.16 = 44days

(44/56)x44=~34.5 days
apr.16 to may20(12:00UTC) = 34.5days

And I almost got the exact value too.. I was expecting it to stop at 465 after breaking the upper resistance.. It was just a rough estimate because I just used bitcoinwisdom's cross cursor and drag it around that date.


Although I'm a bit disappointed coz the crash I was waiting for didn't happen.. Maybe dropping below 420 and staying there for a while will start to hurt someone's business... or maybe dangerous for bitcoin  

[johnyj]

Every whale is waiting for a newer low but now price movement went silent for several days, someone can't wait any more and jumped in. And I believe this is only a small test for market resistance, larger movement will follow if it holds stable at higher level

[MatTheCat]

I don't understand the need to get excited at these minute upswings. Remember that Bitcoin has declined to sub 450 levels from the peak of $1,232. Let's celebrate when Bitcoin touches the peak once again. Not before that.

WTF are u talking about?

This is the speculation forum. If we don't get excited until Bitcoin has taken out $1200, then we will have missed some $750 of upside?

This minute upswing is the most significant thing that has happened on Bitcoin chart in 3 weeks. Long term down trend has been penetrated. Time will tell if it is a false buy signal or the real deal. If the real deal then Bitcoin should rise up to above $500 at least before meeting next resistance. any $50+ moves going, and I want in on them.

It is morning in China...so probably something from there.

Very Wise  

About midday 12.18pm

Yep...it started on Huobi....(again).

If Bitcoin can chew up the wall in between it and $465, then I am impressed and will go long. If Bitcoin crashes through the almost 3000 BTC between it and $450 (on Stamp), then I am scared. Certainly the long term down trend since Jan 5th 2014 has been punctured much more emphatically than the longer term support was breached a couple of days ago and bulls would have to be feeling encouraged right about now, but then this is what Bitcoin does before swinging in totally opposite direction.

I have buy-ins at $452. IF they are triggered, and Bitcoin falls below $450, then I will sell immediately. If they are not triggered and Bitcoin breaks through the 1500 BTC between here and $465, then I am looking at a leg up towards the primary downtrend resistance line and will look to go short/medium term long.

[MatTheCat]

Doppelpost

[spiderbrain]

This looks pretty weak, it was a nice breakout, but the buy wall is just ignoring it, it's really flat in the middle, all the high volume buyers are holding back.

[MatTheCat]

This looks pretty weak, it was a nice breakout, but the buy wall is just ignoring it, it's really flat in the middle, all the high volume buyers are holding back.

Which is why you wait and see what wall gets demolished before making any decisions. It will take over 1000 BTC on Stamp to take the price up just $3. If that goes, then someone somewhere has a lot of belief. On the otherhand, the Bid wall is enormous compared to the Ask wall. Whenever I see that, it usually means that Bitcoin is going down, not up.

[spiderbrain]

Which is why you wait and see what wall gets demolished before making any decisions.

Oh don't worry, I'm not waiting to make any decisions, I've been all in since $5. It's just interesting to watch.  That buy wall on stamp at 450 looks spectacular though, doesn't it? I wonder if it's real?

[galbros]

In USA the Wall Street Journal had a nice article about coinbase on Saturday.  However, today there is a negative one about "drug market probes."  So hard to say as far as news goes.

Good Luck.

[bitcoinsrus]

I wish I knew. We haven't broken much over $450 (been hovering $440) for weeks now. Maybe it has to do with the $30 million dollar investment into bitpay? I mean if they bring brick and mortar stores into the bitcoin marketplace, this is going to explode.

[RockHound]

Looks like a Market manipulation.. It's back to 456 now.

Agreed, looks that way  

I hope u have taken a position @ 440 or r u still waiting for the fanatsy 330 prices ?

  How's it going mate! Still in fiat for that acquisition. You'll be pleased to hear we have moved though ($360's was looking unlikely : )

Currently @$431 still waiting.

How did your funding go - Have you moved that 150 on stamp yet?  gl btw

I will be doing the TT tommorow for about 80k ... still waiting on another 90k to come through

it has really consolidated even to a point a work mate I had a 2$ bet that he WOULD NOT get filled at 440 over the last 4 days ... I am now 2$ richer

I would definately hedge 50% @ 440 if u can get it dude

If we are talking mid-long term like I am 440-460 its all relative

Cheers man, looks like we're gonna end up doing that! Price is quickly edging towards $500 today. Any ideas what driving it?

Doesn't seem news related.

[igorr]

What's causing price increase? 

Just manipulation, Artificial raising prices, all the same as MtGox.

[bitcoinsrus]

Could it be a big buy order got filled on stamp?

http://www.reddit.com/r/Bitcoin/comments/2615rb/a_700_btc_sell_order_just_got_bought_on_bitstamp/
A 700 btc sell order just got bought on bitstamp, the moon is shining early today

[RockHound]

I don't understand the need to get excited at these minute upswings. Remember that Bitcoin has declined to sub 450 levels from the peak of $1,232. Let's celebrate when Bitcoin touches the peak once again. Not before that.

WTF are u talking about?

This is the speculation forum. If we don't get excited until Bitcoin has taken out $1200, then we will have missed some $750 of upside?

This minute upswing is the most significant thing that has happened on Bitcoin chart in 3 weeks. Long term down trend has been penetrated. Time will tell if it is a false buy signal or the real deal. If the real deal then Bitcoin should rise up to above $500 at least before meeting next resistance. any $50+ moves going, and I want in on them.

It is morning in China...so probably something from there.

Very Wise  

About midday 12.18pm

Yep...it started on Huobi....(again).

If Bitcoin can chew up the wall in between it and $465, then I am impressed and will go long. If Bitcoin crashes through the almost 3000 BTC between it and $450 (on Stamp), then I am scared. Certainly the long term down trend since Jan 5th 2014 has been punctured much more emphatically than the longer term support was breached a couple of days ago and bulls would have to be feeling encouraged right about now, but then this is what Bitcoin does before swinging in totally opposite direction.

I have buy-ins at $452. IF they are triggered, and Bitcoin falls below $450, then I will sell immediately. If they are not triggered and Bitcoin breaks through the 1500 BTC between here and $465, then I am looking at a leg up towards the primary downtrend resistance line and will look to go short/medium term long.

Cheers for that Mat, so hope you had a great day at the office  

Getting very close to $500 barrier, I have moved position to $431, but that's not looking likely to get filled   We might get a proportion in at $480, what do you reckon?

[RockHound]

Could it be a big buy order got filled on stamp?

http://www.reddit.com/r/Bitcoin/comments/2615rb/a_700_btc_sell_order_just_got_bought_on_bitstamp/
A 700 btc sell order just got bought on bitstamp, the moon is shining early today

Good spot! Cheers for that - most folk on here think it's some large volume trades/market manipulation(?) on Bitstamp too.

Doesn't appear to be an epic-scale Bitcoin News driving us North.

[RockHound]

By that rationale, are you guys in agreement that a rebound South is likely?

[RockHound]

I was able to compute almost the exact date that bitcoin will break one of the upper resistance. I did this around a month ago with the 12hr chart
jan.6(0:00UTC)  to mar.3 = 56days
mar.3 to apr.16 = 44days

(44/56)x44=~34.5 days
apr.16 to may20(12:00UTC) = 34.5days

And I almost got the exact value too.. I was expecting it to stop at 465 after breaking the upper resistance.. It was just a rough estimate because I just used bitcoinwisdom's cross cursor and drag it around that date.


Although I'm a bit disappointed coz the crash I was waiting for didn't happen.. Maybe dropping below 420 and staying there for a while will start to hurt someone's business... or maybe dangerous for bitcoin  

same here mate, was waiting for crash too  Oh well adjust we must...