I'm calling a bottom too

[ineededausername]

Major factors
1. 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 factors
1. 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.

[Oldminer]

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]

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]

Nice Fibonacci bro

I think so too btw.

[ineededausername]

I believe this is called a "bull trap."

I hope you meant "bear trap," because bull traps don't go down.....

[adamstgBit]

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]

Liquidated my short. Let's go!

[Oldminer]

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]

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]

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]

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.

[N12]

I've got my bitcoins.  Let's go.

Weekend, trading back in the mid 5s: "Everything went better than expected."

[SkRRJyTC]

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]

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]

Liquidated my short. Let's go!

Weeeeeeeeeeeeeeeeeeeee!

[ineededausername]

Up we go!

[Koekiemonster]

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]

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.

[Koekiemonster]

I think panic buying is a shitty term, but it could be applicable the upcoming 24h..

[thegato]

let's see what happens...