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Author Topic: This might be the end of the correction  (Read 7719 times)
proudhon
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March 09, 2012, 06:01:34 PM
 #81

Here's what would happen if somebody tried to start a rally right now.

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Nekrobios
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March 09, 2012, 06:02:26 PM
 #82

So you liquidated your long?
proudhon
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March 09, 2012, 06:08:44 PM
 #83

So you liquidated your long?

What?  No way.

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March 09, 2012, 06:09:48 PM
 #84

Waiting for the ball?
proudhon
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March 09, 2012, 06:10:10 PM
 #85

Waiting for the ball?

Haha, something like that.
ineededausername
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March 09, 2012, 09:35:48 PM
 #86

The rally will be glorious.


(BFL)^2 < 0
proudhon
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March 09, 2012, 09:50:26 PM
 #87

The rally will be glorious.



The correction is going to end tonight, and it'll be to the upside in a BIG way.
Nekrobios
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March 09, 2012, 10:09:14 PM
 #88

The correction is going to end tonight, and it'll be to the upside in a BIG way.
Grin Cheesy Wink
adamstgBit
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March 09, 2012, 10:16:27 PM
 #89

The correction is going to end tonight, and it'll be to the upside in a BIG way.
Grin Cheesy Wink

this weekend will be the last chance to get coins below 4.9

I plan to load the boat at 4.75, If we get that low.


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March 09, 2012, 10:17:04 PM
 #90

this weekend will be the last chance to get coins below 4.9

I plan to load the boat at 4.75, If we get that low.
Alright bro
Hunterbunter
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March 09, 2012, 10:19:06 PM
 #91

wow depth is jumpy
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March 09, 2012, 10:21:14 PM
 #92

Yeah, market makers? Who needs that crap. Grin
Hunterbunter
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March 09, 2012, 10:23:22 PM
 #93

Yeah, market makers? Who needs that crap. Grin

Volumes don't lie.

I suppose people might be waiting for the big 20k walls to appear and start messing with people...I know I'm anticipating them.

That was like a 2k wall and depth melted before it.
proudhon
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March 09, 2012, 10:24:43 PM
 #94

The big boom is coming.  Watch out.
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March 09, 2012, 10:25:46 PM
 #95

The big boom is coming.  Watch out.

lol you know you're probably right.

Calm before the shitstorm?
Cosbycoin
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March 10, 2012, 01:29:27 AM
 #96

The correction is going to end tonight, and it'll be to the upside in a BIG way.
Grin Cheesy Wink

this weekend will be the last chance to get coins below 4.9

I plan to load the boat at 4.75, If we get that low.



VISUALIZE: "loading the boat with bitcoins"........must be a virtual boat too! haha Grin

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ineededausername
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March 10, 2012, 05:52:11 AM
 #97

A move to $5.5, which could happen naturally, would trigger a short squeeze to $6...

(BFL)^2 < 0
Hunterbunter
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March 10, 2012, 06:22:27 AM
 #98

A move to $5.5, which could happen naturally, would trigger a short squeeze to $6...

While the same exists in reverse, what concerns me more is the risk. The bitcoin price is ready to go up, sure, but the bulls can't play until the bears are satisfied. Indicators are extremely close to trigger a sell signal...good time for someone to rally, but it'll cost them around $120k to push that trigger. The trigger down is about half that, and since sentiment is bullish (I think), it's a very juicy path downwards.

There's a proper long term upwards support down at $3.5...the one we're at now is just make believe imo. I think the real price of this huge triangle we're in is around $4.50-$4.60.

EDIT: I must admit though, there is some weird stuff going on. Volume was extremely low yesterday...every time it's been that low in the past 3 months it's been followed with a dump of epic proportions...except this time...eerie.
zby
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March 10, 2012, 06:44:01 AM
 #99

I know many people believe that google trends are a following indicator - but fundamentally you need more people to get interested and start betting their money to move the price in a big way.  Currently the popularity indicators are down.  Google trends had a up - tick after the recent hack - but that was a negative news so we should not count much on that.  New forum members in March are also down so far.  That's why I don't believe in any big rally - it might shoot up from the triangle but that will not be a long rally - and vice versa a down move might extend massively.

Just my 3 cents Smiley
adamstgBit
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March 10, 2012, 07:01:02 AM
 #100

A move to $5.5, which could happen naturally, would trigger a short squeeze to $6...

While the same exists in reverse, what concerns me more is the risk. The bitcoin price is ready to go up, sure, but the bulls can't play until the bears are satisfied. Indicators are extremely close to trigger a sell signal...good time for someone to rally, but it'll cost them around $120k to push that trigger. The trigger down is about half that, and since sentiment is bullish (I think), it's a very juicy path downwards.

There's a proper long term upwards support down at $3.5...the one we're at now is just make believe imo. I think the real price of this huge triangle we're in is around $4.50-$4.60.

k so, say your triangle breaks down to 4.50 then what?  panic to 4$?

No this is it...

4$ is the bottom, 4.87 is the current price, if no major buy or sell happens we'll be at 4.75 in 2 days, 4.50 in 1 week, 4.25 in 1 month

but the thing is, something will happen... and soon! ( Right Huh   ...    Wrong Grin )

major sell off, since we are so close to the bottom, a major sell of would bounce back relatively fast (don't try to cause panic selling... it simply wont work)
Or
major buy up, since we are so close to the bottom, a major buy up will retain some momentum and reach higher. ( very expensive to pull the trigger...)

IMO

no one will pull the trigger, and no one will want to try and cause panic in order to buy back lower.

so only one thing can happen

a very slow down to 4.25, fallowed by a even slower climb up and over 5.1 at which point news about some new service offered in bitcoin will trigger a wave of new money willing to buy coins no matter what the cost, hell slips open, the never ending bull run continues

I lay it out for you all to to play it out  Cool


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