inau's secret rocket

[da2ce7]

The price doesn't need to rocket anywhere. It seems that people are expecting a large move down or a large move up soon, it's not necessarily going to happen in the next few days. The situation is very neutral and I feel a lot of people are unsure if they should be bullish or bearish at these prices. Anything can happen but on the other hand, nothing might happen.

Congratulations for saying absolutely nothing. (Other than saying that people are unsure about what is going (or not going to) happen.)  

[1498467632]

1498467632

[Technomage]

I have to add that the price bounced off the walls at $5.45 - $5.50 many times already. If that level holds for a little bit longer, it's very likely that we'll see a move up. Not sure how large of a move, but up anyway. The selling pressure on those walls has been weak, it just doesn't look like a very bearish market.

[Nekrobios]

The price doesn't need to rocket anywhere. It seems that people are expecting a large move down or a large move up soon, it's not necessarily going to happen in the next few days.

It’s going to happen eventually. You really think this 2-3 week consolidation will just go on without being resolved either up or down?

I can tell you it will be broken, and the resulting move will be big (and decisive for the next few weeks or months).

Your attitude reminds me of when people take notice that the price has been pretty stable lately, and they think the market has stabilized now, only to find it go crazy a day after.

[M4v3R]

From what I see now, the slow up trendline was broken few days ago and it now turned into resistance (10d, hourly chart):

[conspirosphere.tk]

The question is: are we bouncing on a bottom or against the ceiling?
I'd say the first one

[Nekrobios]

I’ve redrawn the trendline responsible for 5.05 and it is perfectly bouncing off it again so far, so I think could have bottomed out with that double bottom. Bears are likely out of Bitcoins and will want them back.

http://www.sierrachart.com/userimages/upload_2/1328535554210.png

[proudhon]

I’ve redrawn the trendline responsible for 5.05 and it is perfectly bouncing off it again so far, so I think could have bottomed out with that double bottom. Bears are likely out of Bitcoins and will want them back.

http://www.sierrachart.com/userimages/upload_2/1328535554210.png

It doesn't look to me like they're out of bitcoins.  In the last couple months or so the larges amount of bitcoins up for sale on MtGox that I saw was right around 300,000.  During some of the large movements of the past month that dropped to just under 200,000, and over the past week it's been building back up, mostly within a dollar or so of the price; and it's currently at 272,000.

[Nekrobios]

proudhon, do you think this has predictive power? The order book change is usually a contrarian indicator, if at all. I have to say I’ve only watched the changes to 5 and 6.2, but I am trying to stop it because it distorts my views. It’s completely useless unless for the big bid walls when you want to buy/sell them or place orders in front of them.

The order book is like the tide.

[proudhon]

proudhon, do you think this has predictive power?

Not by itself, no.

[da2ce7]

The bitcoin markets are like the speculators dream... it is like a really good soap opera.  Except without the manipulation by the central bank.

[gewure]

From what I see now, the slow up trendline was broken few days ago and it now turned into resistance (10d, hourly chart):

that is not anything near  a "slow" trendline.

look at the 3-month-chart. nothing broken.

[alan2here]

... The slow up trendline was broken few days ago and it now turned into resistance ...

chart

Please stop this pin the line on the chart, appart from anything else investors could be watching.

[arepo]

prediction: next leg up will break the resistance at $6.20.

im still waiting... but i can feel it

even inau agrees with me now. don't miss the blastoff...

[arepo]

oh, and here are some 'shits':



you can clearly see the full oscillation made since the last extreme "overbought" incident, which, ironically, was immediately before i made that prediction. hopefully the rocket's fully re-fueled this time around.

[cunicula]

oh, and here are some 'shits':



you can clearly see the full oscillation made since the last extreme "overbought" incident, which, ironically, was immediately before i made that prediction. hopefully the rocket's fully re-fueled this time around.

+1, you can see that arepo's colon is at the onset of a sharp curve upwards in the top poop. Bullshit looks solid. As for bearshit, I'm expecting some liquidations. It's a serious storm brewing, make sure you're sheltering under the right animal or it will get ugly!

[arepo]

do you think people want to read that? if you really think technical analysis is full of shit we ought to have a civil conversation about it.

[cunicula]

do you think people want to read that? if you really think technical analysis is full of shit we ought to have a civil conversation about it.

SELL! SELL! SELL!

Is that civil enough for you?

More seriously, you are troll bait and I am a troll.

[arepo]

i still see only about 30k real ask orders

we just witnessed the first leg of the great bitcoin comeback. we will far overshoot 7.20 on the next leg up...

are you ready?

High: 5.99... feels like we're about to go over.

Walls might come down soon, and we'll be in the biggest Bitcoin rally ever.

way ahead of you on that one

[Oldminer]

im still waiting... but i can feel it

even inau agrees with me now. don't miss the blastoff...

Yea cant wait. Only..do you think Bitcoinica might liquidate me before we take off? 

[arepo]

short squeeze imminent