$4 is the new $2

[cypherdoc]

i believe this to be the case.  

in fact, the move down from $7.20 to $4 magically represents a 61.8% Fibonacci retrace, a good place to bottom.

so would you be wise to be buying in the $4's or selling/shorting in the $4's?

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[N12]

Agree. But look what 5.2 is: http://www.sierrachart.com/userimages/upload_2/1331485270182.png

You buying up?

[cypherdoc]

Agree. But look what 5.2 is: http://www.sierrachart.com/userimages/upload_2/1331485270182.png

You buying up?

thats only reserved for pillow talk.

[proudhon]

Agree. But look what 5.2 is: http://www.sierrachart.com/userimages/upload_2/1331485270182.png

You buying up?

The new $7.20?

[cypherdoc]

i should also point out that $4 has generally agreed to be a minimum for mining profitability. 

also that the advent of Bitcoinica shorting in September contributed to an undershoot down to $2.  that has now evened out.

[N12]

Agree. But look what 5.2 is: http://www.sierrachart.com/userimages/upload_2/1331485270182.png

You buying up?

The new $7.20?

Nah, forget it.

The S3052 newsletter most likely prevented that for now. Unless THE SUPER RALLYYYYYYYYY BITCOIN IS MAINSTREAM NOW WE ARE GOING TO OVER NINE THOUSAND kicks off, I still am convinced we will challenge 4.5 again, but it might happen much later, after a ridiculously small corrective rally in BTC terms (1 or 2 USD up perhaps). I hoped we would do a final capitulation with a serious reversal like from 0.55 last year so I can hold for weeks and months to come, but no.

This is now postponed. Next up: Hot potato.

[proudhon]

If this goes on much longer this'll turn into the longest period of relatively flat prices in bitcoin trading history so far.

[N12]

If this goes on much longer this'll turn into the longest period of relatively flat prices in bitcoin trading history so far.

Bitcoin is finally getting stable.

 

[N12]

also that the advent of Bitcoinica shorting in September contributed to an undershoot down to $2.  that has now evened out.

And the (lack of) Bitcoinica leverage was responsible for 7.22 and 4.64. So 50% of that move would be 4.6. What now?

We need this to be MUCH more common here, so,

Full disclosure: I am long BTC.

[proudhon]

If this goes on much longer this'll turn into the longest period of relatively flat prices in bitcoin trading history so far.

Bitcoin is finally getting stable.

 

[S3052]

If this goes on much longer this'll turn into the longest period of relatively flat prices in bitcoin trading history so far.

Bitcoin is finally getting stable.

 

Stable would be good for bitcoin merchants, but realistically, this is not going to happen at current levels. More likely there will be wild swings in the next couple of years before there is some stabilization.

[zby]

I don't see bitcoin reaching out of the geek ghetto.  The 'Good Wife' episode generated great hopes - but I don't see any follow up to that.

[N12]

Stable would be good for bitcoin merchants, but realistically, this is not going to happen at current levels. More likely there will be wild swings in the next couple of years before there is some stabilization.

That’s the joke. Bitcoin will never be nearly stable until its price discovery reveals either 0 or 4-5 digit.

[S3052]

>> Blitzboom. 100% agree

[cypherdoc]

face it; Bitcoin will never be stable as long as the Federal Reserve keeps printing USD's.

and the more it prints, the more Bitcoin goes...

[S3052]

Agree Cypher.
And soon we will see  a strong inverse correlation of BTC and stocks

[cypherdoc]

Agree Cypher.
And soon we will see  a strong inverse correlation of BTC and stocks

Now we can agree in the direction of stocks.  i'm short.  we reached my objective target of clearing the May highs and now is the time to wrong foot everyone.

[S3052]

Agree Cypher.
And soon we will see  a strong inverse correlation of BTC and stocks

Now we can agree in the direction of stocks.  i'm short.  we reached my objective target of clearing the May highs and now is the time to wrong foot everyone.

Congrats!!!!

[N12]

Stable would be good for bitcoin merchants, but realistically, this is not going to happen at current levels. More likely there will be wild swings in the next couple of years before there is some stabilization.

That’s the joke. Bitcoin will never be nearly stable until its price discovery reveals either 0 or 4-5 digit.

Following up on that thought: Shorting can give you 100% profit + if you borrow it, potentially unlimited loss, going long potentially unlimited profits with limited loss.

[adamstgBit]

i believe this to be the case.  

in fact, the move down from $7.20 to $4 magically represents a 61.8% Fibonacci retrace, a good place to bottom.

so would you be wise to be buying in the $4's or selling/shorting in the $4's?

i sorta agree...


but i see it like this

2$ was when bitcoin wanted to see how low it would go

5$ is its actual value

4$ is meaningless its not the "bottom" its just a whole dollar less then its actual value