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ineededausername (OP)
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February 02, 2012, 01:25:09 AM |
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This statement is an observation of what could happen. I am not predicting $8, but I'm saying that it's possible.
The norm in Bitcoin rallies recently has been double ramps, followed by coasting up to the next resistance level.
Intraday rallies in Bitcoin history:
$3.2 -> $3.7, stagnate at $3.5, up to $4, coast to $4.5 past light ask resistance.
$4.2 -> $4.6, stagnate at $4.5, up to $5, coast to $5.5 past light ask resistance.
$4.9 -> $5.3, stagnate at $5.2, up to $6, coast to $7 past light ask resistance.
Next up?
$5.5 -> $6.2, stagnate at $6, up to high $6 range after another big buy, coast to $7.2, then up to $8 after going past $7.2.
Such a large move has happened before. It is possible.
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(BFL)^2 < 0
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Each block is stacked on top of the previous one. Adding another block to the top makes all lower blocks more difficult to remove: there is more "weight" above each block. A transaction in a block 6 blocks deep (6 confirmations) will be very difficult to remove.
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PatrickHarnett
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February 02, 2012, 01:30:23 AM |
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Quick - I'll sell you some at 7.20 so you can make a killing at 8.
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antares
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February 02, 2012, 02:00:47 AM |
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will do 7.19
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Jonathan Ryan Owens
Donator
Sr. Member
 Offline
Activity: 392
Merit: 252
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February 02, 2012, 02:01:56 AM |
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6.03
5.85
6.30
6.80
6.65
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Crypt_Current
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February 02, 2012, 02:12:09 AM |
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will do 7.19
10 for $70 PLUS free shipping |
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ineededausername (OP)
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February 02, 2012, 02:15:26 AM |
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6.03
5.85
6.30
6.80
6.65
The famous JRO 5-price prediction is back! Last time, he predicted an entire two weeks of prices, perfectly.  |
(BFL)^2 < 0
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cypherdoc
Legendary
Offline
Activity: 1764
Merit: 1002
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February 02, 2012, 02:37:57 AM |
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highly plausible.
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Cluster2k
Legendary
Offline
Activity: 1692
Merit: 1018
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February 02, 2012, 02:56:20 AM |
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The sudden surge to $6.20 helped me trade out of some losing positions for a mild profit. I quite liked this morning's sudden buying binge.
The one thing we do know about bitcoin is that it's impossible to predict (without insider knowledge) when a huge dump or price rise is coming. People like to claim they knew, after the fact.
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teflone
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February 02, 2012, 03:58:14 AM |
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6.03
5.85
6.30
6.80
6.65
The famous JRO 5-price prediction is back! Last time, he predicted an entire two weeks of prices, perfectly. Like fuck, hes right 1 outta 10 times.. His "predictions" are on bitcoinbullbear.. |
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proudhon
Legendary
Offline
Activity: 2198
Merit: 1311
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February 02, 2012, 04:19:13 AM |
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This statement is an observation of what could happen. I am not predicting $8, but I'm saying that it's possible.
The norm in Bitcoin rallies recently has been double ramps, followed by coasting up to the next resistance level.
Intraday rallies in Bitcoin history:
$3.2 -> $3.7, stagnate at $3.5, up to $4, coast to $4.5 past light ask resistance.
$4.2 -> $4.6, stagnate at $4.5, up to $5, coast to $5.5 past light ask resistance.
$4.9 -> $5.3, stagnate at $5.2, up to $6, coast to $7 past light ask resistance.
Next up?
$5.5 -> $6.2, stagnate at $6, up to high $6 range after another big buy, coast to $7.2, then up to $8 after going past $7.2.
Such a large move has happened before. It is possible.
But what if we get a quadruple ramp?  |
Bitcoin Fact: the price of bitcoin will not be greater than $70k for more than 25 consecutive days at any point in the rest of recorded human history.
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teflone
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February 02, 2012, 04:47:55 AM |
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This statement is an observation of what could happen. I am not predicting $8, but I'm saying that it's possible.
The norm in Bitcoin rallies recently has been double ramps, followed by coasting up to the next resistance level.
Intraday rallies in Bitcoin history:
$3.2 -> $3.7, stagnate at $3.5, up to $4, coast to $4.5 past light ask resistance.
$4.2 -> $4.6, stagnate at $4.5, up to $5, coast to $5.5 past light ask resistance.
$4.9 -> $5.3, stagnate at $5.2, up to $6, coast to $7 past light ask resistance.
Next up?
$5.5 -> $6.2, stagnate at $6, up to high $6 range after another big buy, coast to $7.2, then up to $8 after going past $7.2.
Such a large move has happened before. It is possible.
But what if we get a quadruple ramp? To infinity and beyond! |
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SlaveInDebt
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February 02, 2012, 05:58:25 AM |
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We won't be seeing $8 till everyone gets their tax returns.
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"A banker is a fellow who lends you his umbrella when the sun is shining, but wants it back the minute it begins to rain." - Mark Twain
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Cluster2k
Legendary
Offline
Activity: 1692
Merit: 1018
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February 02, 2012, 06:12:33 AM |
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We won't be seeing $8 till everyone gets their tax returns.
That's true for some places (particularly the USA), but tax returns arrive at all times of the year depending on where a person lives. I got mine in October. en.wikipedia.org/wiki/Fiscal_year |
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bracek
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February 02, 2012, 10:28:52 AM |
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But then there is that nobody-has-bought-enough-Bitcoin-lately-to-make-that-happen problem...
And besides that, what ramp? There was a single large purchase.
looks like we are stickin' it to each other at ever increasing prices win-win situation at it's finest |
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BadBear
v2.0
Legendary
Offline
Activity: 1652
Merit: 1127
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February 02, 2012, 01:30:32 PM |
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Houston, Go or No Go for launch?
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waspoza
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February 02, 2012, 02:42:12 PM |
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Houston, Go or No Go for launch?
The Dude says no go. |
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