ineededausername (OP)
|
|
February 16, 2012, 09:55:59 PM |
|
Major factors1. The daily RSI has almost hit 30. This has happened very rarely in the past, and it always leads to a move up! 2. Depth actually looks pretty healthy right now, contrary to statements by people like Edward. 3. We just hit a major support level -- the 3.8-4.2 range. Smaller factors1. Size of this correction is roughly 50%, important Fibonacci retracement level. (7.2->3.88) 2. Looks exactly like Spring '11. 3. Everyone's bearish on the forums 4. The big sellers have probably run out of BTC. 5. MACD hit its own long-term support.
|
(BFL)^2 < 0
|
|
|
|
|
|
The grue lurks in the darkest places of the earth. Its favorite diet is adventurers, but its insatiable appetite is tempered by its fear of light. No grue has ever been seen by the light of day, and few have survived its fearsome jaws to tell the tale.
|
|
|
Advertised sites are not endorsed by the Bitcoin Forum. They may be unsafe, untrustworthy, or illegal in your jurisdiction.
|
|
|
Oldminer
Legendary
Offline
Activity: 1022
Merit: 1001
|
|
February 16, 2012, 10:02:14 PM |
|
I think we could see a short term move up but I predict it will happen after the weekend (and after a weekend dip) if it happens at all. Longer term the outlook still looks bleak (in my opinion).
|
|
|
|
notme
Legendary
Offline
Activity: 1904
Merit: 1002
|
|
February 16, 2012, 10:04:59 PM |
|
I agree, but I believe retracements are calculated with the start of the rally as the base. So with the current price of 4.28, we are at 56.15%. That also makes 50% $4.6 and 61.8% is $3.9864. $3.88 would be 63.8%.
|
|
|
|
Bro
|
|
February 16, 2012, 10:07:47 PM |
|
Nice Fibonacci bro
I think so too btw.
|
|
|
|
ineededausername (OP)
|
|
February 16, 2012, 10:08:45 PM |
|
I believe this is called a "bull trap."
I hope you meant "bear trap," because bull traps don't go down.....
|
(BFL)^2 < 0
|
|
|
adamstgBit
Legendary
Offline
Activity: 1904
Merit: 1037
Trusted Bitcoiner
|
|
February 16, 2012, 10:32:58 PM |
|
I believe this is called a "bull trap."
I hope you meant "bear trap," because bull traps don't go down..... I'm calling it a bull trap because as soon as the price gets high enough it will be zapped with a 6-10k sell off. Bull. trap. that was last weeks game
|
|
|
|
Kluge
Donator
Legendary
Offline
Activity: 1218
Merit: 1015
|
|
February 16, 2012, 10:36:16 PM |
|
Liquidated my short. Let's go!
|
|
|
|
Oldminer
Legendary
Offline
Activity: 1022
Merit: 1001
|
|
February 16, 2012, 10:43:19 PM |
|
I believe this is called a "bull trap."
I hope you meant "bear trap," because bull traps don't go down..... I'm calling it a bull trap because as soon as the price gets high enough it will be zapped with a 6-10k sell off. Bull. trap. Thats Bull Crap
|
|
|
|
notme
Legendary
Offline
Activity: 1904
Merit: 1002
|
|
February 16, 2012, 11:01:25 PM |
|
I believe this is called a "bull trap."
I hope you meant "bear trap," because bull traps don't go down..... I'm calling it a bull trap because as soon as the price gets high enough it will be zapped with a 6-10k sell off. Bull. trap. Thats Bull Crap Oh no! A 10k sell off all the way down to .... $4.1.
|
|
|
|
N12
Donator
Legendary
Offline
Activity: 1610
Merit: 1010
|
|
February 16, 2012, 11:14:16 PM |
|
Let me add a few things. - historical volumes
- 6 closed red daily candles consecutively
- S3052 subscribers still waiting for a low which will not come (at least not this weekend)
ENJOY THE WEEKEND RALLY, BROS!
|
|
|
|
proudhon
Legendary
Offline
Activity: 2198
Merit: 1311
|
|
February 16, 2012, 11:47:58 PM |
|
Let me add a few things. - historical volumes
- 6 closed red daily candles consecutively
- S3052 subscribers still waiting for a low which will not come (at least not this weekend)
ENJOY THE WEEKEND RALLY, BROS! I've got my bitcoins. Let's go.
|
Bitcoin Fact: the price of bitcoin will not be greater than $70k for more than 25 consecutive days at any point in the rest of recorded human history.
|
|
|
N12
Donator
Legendary
Offline
Activity: 1610
Merit: 1010
|
|
February 16, 2012, 11:55:40 PM |
|
I've got my bitcoins. Let's go.
Weekend, trading back in the mid 5s: "Everything went better than expected."
|
|
|
|
SkRRJyTC
Legendary
Offline
Activity: 1008
Merit: 1000
|
|
February 16, 2012, 11:58:24 PM |
|
I've got my bitcoins. Let's go.
Weekend, trading back in the mid 5s: "Everything went better than expected." Mid 5's = Everything went better than expected??? I'd say over 7 = Everything went better than expected!
|
|
|
|
adamstgBit
Legendary
Offline
Activity: 1904
Merit: 1037
Trusted Bitcoiner
|
|
February 17, 2012, 12:03:43 AM |
|
I've got my bitcoins. Let's go.
Weekend, trading back in the mid 5s: "Everything went better than expected." that would be impressive.. i expect a high of 4.8 and cash below 4$ this weekend
|
|
|
|
Kluge
Donator
Legendary
Offline
Activity: 1218
Merit: 1015
|
|
February 17, 2012, 01:40:29 AM |
|
Liquidated my short. Let's go!
Weeeeeeeeeeeeeeeeeeeee!
|
|
|
|
|
Koekiemonster
Sr. Member
Offline
Activity: 321
Merit: 250
Bitbuy.nl!
|
|
February 17, 2012, 01:54:36 AM |
|
There's just very little ask depth to cover the demand of mid/longtermbulls who shorted the way down and are planning to reverse their positions. Curious to see what will happen.
|
|
|
|
proudhon
Legendary
Offline
Activity: 2198
Merit: 1311
|
|
February 17, 2012, 01:56:18 AM |
|
There's just very little ask depth to cover the demand of mid/longtermbulls who shorted the way down and are planning to reverse their positions. Curious to see what will happen. I'm going to go out on a limb here and guess that a few of those people aren't going to get back all the bitcoins they started with.
|
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.
|
|
|
Koekiemonster
Sr. Member
Offline
Activity: 321
Merit: 250
Bitbuy.nl!
|
|
February 17, 2012, 02:00:10 AM |
|
I think panic buying is a shitty term, but it could be applicable the upcoming 24h..
|
|
|
|
thegato
Newbie
Offline
Activity: 19
Merit: 0
|
|
February 17, 2012, 02:01:27 AM |
|
let's see what happens...
|
|
|
|
|