Bitcoin Forum
December 08, 2016, 12:09:17 PM *
News: Latest stable version of Bitcoin Core: 0.13.1  [Torrent].
 
   Home   Help Search Donate Login Register  
Pages: [1] 2 »  All
  Print  
Author Topic: Discussion on why around $5.6 seems to be a wall or price floor?  (Read 2158 times)
Edward50
Hero Member
*****
Offline Offline

Activity: 546



View Profile
February 12, 2012, 04:18:06 AM
 #1

It is driving me nuts why $5.6 seems to be the price bitcoins is currently being stable at.

Why do you guys think that bitcoins can't seem to fall below or above around $5.6.

If it falls below that point, it is quickly bought back up to $5.6 or above.

If it goes above $5.6, it seems to fall back to that point.

Is this just the psychological price level? Is it a price that market players decided to set a price floor at and if so why?

Whats going on?

To me it looks like market players put a price floor at around $5.6 and decided they don't want it falling below that point.

Empty your mind, be formless, shapeless — like water. Now you put water in a cup, it becomes the cup; You put water into a bottle it becomes the bottle; You put it in a teapot it becomes the teapot. Now water can flow or it can crash. Be water, my friend.
1481198957
Hero Member
*
Offline Offline

Posts: 1481198957

View Profile Personal Message (Offline)

Ignore
1481198957
Reply with quote  #2

1481198957
Report to moderator
1481198957
Hero Member
*
Offline Offline

Posts: 1481198957

View Profile Personal Message (Offline)

Ignore
1481198957
Reply with quote  #2

1481198957
Report to moderator
1481198957
Hero Member
*
Offline Offline

Posts: 1481198957

View Profile Personal Message (Offline)

Ignore
1481198957
Reply with quote  #2

1481198957
Report to moderator
Advertised sites are not endorsed by the Bitcoin Forum. They may be unsafe, untrustworthy, or illegal in your jurisdiction. Advertise here.
1481198957
Hero Member
*
Offline Offline

Posts: 1481198957

View Profile Personal Message (Offline)

Ignore
1481198957
Reply with quote  #2

1481198957
Report to moderator
1481198957
Hero Member
*
Offline Offline

Posts: 1481198957

View Profile Personal Message (Offline)

Ignore
1481198957
Reply with quote  #2

1481198957
Report to moderator
1481198957
Hero Member
*
Offline Offline

Posts: 1481198957

View Profile Personal Message (Offline)

Ignore
1481198957
Reply with quote  #2

1481198957
Report to moderator
notme
Legendary
*
Offline Offline

Activity: 1526


View Profile
February 12, 2012, 04:22:11 AM
 #2

(8.16923-3)*13/12

https://www.bitcoin.org/bitcoin.pdf
While no idea is perfect, some ideas are useful.
12jh3odyAAaR2XedPKZNCR4X4sebuotQzN
proudhon
Legendary
*
Offline Offline

Activity: 1148



View Profile
February 12, 2012, 04:44:15 AM
 #3

(8.16923-3)*13/12

That's what I was thinkin'.
Hexadecibel
Human Intranet Liason
VIP
Hero Member
*
Offline Offline

Activity: 536


I still <3 u Satoshi


View Profile
February 12, 2012, 05:27:44 AM
 #4

Because thats what I bought in at, and I am not allowed to make gains or losses. . .
S3052
Legendary
*
Offline Offline

Activity: 1946


BTC Up or Down? go to www.bullbearanalytics.com


View Profile WWW
February 12, 2012, 06:51:47 AM
 #5

5.6 $ is not a big support area beyond the the very short term.

As we shared with subscribera last night, some key trendlines are broken and there is a strong possibility for another short term selloff.

>15years analysis experience

Always do your own due diligence & consult your financial advisor. Never invest unless you can afford to lose your entire investment.

http://twitter.com/BitcoinAnalyst

Subscribe here
Hexadecibel
Human Intranet Liason
VIP
Hero Member
*
Offline Offline

Activity: 536


I still <3 u Satoshi


View Profile
February 12, 2012, 07:10:00 AM
 #6

good thing I'm not investing short term then
Bigpiggy01
Hero Member
*****
Offline Offline

Activity: 616



View Profile
February 12, 2012, 08:37:34 AM
 #7

I only see this as a temporary reaction to Mt Gox having issues Saturday.

I fully expect it to start moving back up again Sunday night - Monday. We were well underway Friday- early Saturday and don't see any obvious reason for a drop to this level apart from the market punishing itself for Mt Gox technical issues.

If we look at past occasions then technical issues with the largest exchange have fairly consistently led to short term drops with a resumption of the trends etc over the following days.

Quote
5.6 $ is not a big support area beyond the the very short term.

As we shared with subscribers last night, some key trendlines are broken and there is a strong possibility for another short term selloff.

Are they really or is this just a short term reaction to these technical difficulties. Atm I'm much in favor of the later interpretation.

S3052
Legendary
*
Offline Offline

Activity: 1946


BTC Up or Down? go to www.bullbearanalytics.com


View Profile WWW
February 12, 2012, 09:19:09 AM
 #8

While still bullish mid and long term, the technical picture is deteriorating short term.
Some key trendlines are broken: see chart here http://www.bitcoinbullbear.com/

There are two clear options.
1) Decline from current levels or
2) If 6.1 $ is broken: then Rally. but there is no need to be LONG until this has happened

>15years analysis experience

Always do your own due diligence & consult your financial advisor. Never invest unless you can afford to lose your entire investment.

http://twitter.com/BitcoinAnalyst

Subscribe here
proudhon
Legendary
*
Offline Offline

Activity: 1148



View Profile
February 12, 2012, 01:11:39 PM
 #9

5.6 $ is not a big support area beyond the the very short term.

As we shared with subscribera last night, some key trendlines are broken and there is a strong possibility for another short term selloff.


Ok, I know you guys are thinking it...so this is why we had the sell off, and...

Quote
While still bullish mid and long term, the technical picture is deteriorating short term.
Some key trendlines are broken: see chart here http://www.bitcoinbullbear.com/

There are two clear options.
1) Decline from current levels or
2) If 6.1 $ is broken: then Rally. but there is no need to be LONG until this has happened

...this looks like an attempt to make the most of it for your subscribers.
Blitz­
Moderator
Legendary
*
Offline Offline

Activity: 1596


"Cut Your Loose"


View Profile
February 12, 2012, 01:20:11 PM
 #10

5.6 $ is not a big support area beyond the the very short term.

As we shared with subscribera last night, some key trendlines are broken and there is a strong possibility for another short term selloff.


Ok, I know you guys are thinking it...so this is why we had the sell off, and...

Quote
While still bullish mid and long term, the technical picture is deteriorating short term.
Some key trendlines are broken: see chart here http://www.bitcoinbullbear.com/

There are two clear options.
1) Decline from current levels or
2) If 6.1 $ is broken: then Rally. but there is no need to be LONG until this has happened

...this looks like an attempt to make the most of it for your subscribers.
Indeed. This is not the first time, I observed the same and lost money because I tried to profit off it – but there were too many like me. The target was not even remotely hit.

The depth to 5 has regenerated once again from 60k to 95k (on a weekend, and on a higher low). You know that the depth is genuine with high probability because buyers have to consider a 45k or larger dumper anytime.

Sorry sellers. I only trust my own analysis anymore, and my analysis, especially as I read this latest info is that this is a manipulated and fake breakdown from people who actually want to be long.

The price has bounced off the long term trendline. That is ALL I need to see for a buy signal. So yes, there is reason to be long in my view. Tongue


http://www.sierrachart.com/userimages/upload_2/1329052797765.png

"Bitcoin had been transformed from an anarachistic challenge to the financial status quo, to the crypto spawn of Satan, fuelled by cut-throat greed and delusions of avarice." - MatTheCat
"these people don't seem to want to stop till Bitcoin is completely destroyed and left like an old cum rag in the corner of the room." - ShroomsKit
S3052
Legendary
*
Offline Offline

Activity: 1946


BTC Up or Down? go to www.bullbearanalytics.com


View Profile WWW
February 12, 2012, 04:55:05 PM
 #11

>>>Blitzboom.

The market is still too thin to profit from tiny short term moves well enough. This is why we provide a NEUTRAL outlook between 5.3 and 6.1 $. And we provided the same analysis to subscribers and to the public, with the only difference the delay, as we promise to subscriber to get all info first.

We are sure that soon there will be great trading opportunities.

>15years analysis experience

Always do your own due diligence & consult your financial advisor. Never invest unless you can afford to lose your entire investment.

http://twitter.com/BitcoinAnalyst

Subscribe here
teflone
Hero Member
*****
Offline Offline

Activity: 770


You're fat, because you dont have any pics on FB


View Profile
February 12, 2012, 05:44:16 PM
 #12

My horoscope today said the same thing...   Smiley

For Canadians by Canadians: Canada's Bitcoin Community - https://www.coinforum.ca/
finway
Hero Member
*****
Offline Offline

Activity: 714


View Profile
February 12, 2012, 05:46:42 PM
 #13

>>>Blitzboom.

The market is still too thin to profit from tiny short term moves well enough. This is why we provide a NEUTRAL outlook between 5.3 and 6.1 $. And we provided the same analysis to subscribers and to the public, with the only difference the delay, as we promise to subscriber to get all info first.

We are sure that soon there will be great trading opportunities.


I hope you do not disclose your prediction, or disclose at the same time.
You clients sell first, and then ask the public to sell, that's not good.



Elwar
Legendary
*
Offline Offline

Activity: 1946


www.bitpools.com


View Profile WWW
February 12, 2012, 07:01:52 PM
 #14

The low has constantly been just outside of my profitability for my short.

Last week I was waiting for it to fall below 5.4, this week 5.58...

it teases me right above each time

http://www.bitpools.com
Pool your bitcoins with others. Vote on solutions using the Bitcoin blockchain. Keep your bitcoins in your cold storage until you find a solution you like.
Links and Reviews of useful every day places to spend bitcoins: https://bitcointalk.org/index.php?topic=943143.0
joulesbeef
Sr. Member
****
Offline Offline

Activity: 476


moOo


View Profile
February 12, 2012, 09:17:03 PM
 #15

Quote
Last week I was waiting for it to fall below 5.4, this week 5.58...

it teases me right above each time

well hold onto your hats, cause we are about to fly right by those numbers.

mooo for rent
Oldminer
Legendary
*
Offline Offline

Activity: 1022



View Profile
February 12, 2012, 10:50:36 PM
 #16




If you like my post please feel free to give me some positive rep https://bitcointalk.org/index.php?action=trust;u=18639
Tip me BTC: 1FBmoYijXVizfYk25CpiN8Eds9J6YiRDaX
notme
Legendary
*
Offline Offline

Activity: 1526


View Profile
February 12, 2012, 10:59:41 PM
 #17





Meh, unless 5.45 is definitively broken soon, I think it will hold.

https://www.bitcoin.org/bitcoin.pdf
While no idea is perfect, some ideas are useful.
12jh3odyAAaR2XedPKZNCR4X4sebuotQzN
Koekiemonster
Sr. Member
****
Offline Offline

Activity: 321


Bitbuy.nl!


View Profile
February 12, 2012, 11:54:37 PM
 #18

While still bullish mid and long term, the technical picture is deteriorating short term.
Some key trendlines are broken: see chart here http://www.bitcoinbullbear.com/

There are two clear options.
1) Decline from current levels or
2) If 6.1 $ is broken: then Rally. but there is no need to be LONG until this has happened


So either it goes up, or down?  Shocked

https://www.bitbuy.nl - Koop eenvoudig, snel en goedkoop bitcoins bij Bitbuy!
Bitcointalk topic over Bitbuy!
joulesbeef
Sr. Member
****
Offline Offline

Activity: 476


moOo


View Profile
February 13, 2012, 02:45:29 AM
 #19

and down we go.

mooo for rent
Oldminer
Legendary
*
Offline Offline

Activity: 1022



View Profile
February 13, 2012, 02:50:45 AM
 #20

uh oh  Grin

If you like my post please feel free to give me some positive rep https://bitcointalk.org/index.php?action=trust;u=18639
Tip me BTC: 1FBmoYijXVizfYk25CpiN8Eds9J6YiRDaX
Pages: [1] 2 »  All
  Print  
 
Jump to:  

Sponsored by , a Bitcoin-accepting VPN.
Powered by MySQL Powered by PHP Powered by SMF 1.1.19 | SMF © 2006-2009, Simple Machines Valid XHTML 1.0! Valid CSS!