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Author Topic: The Rocket  (Read 3748 times)
Piper67
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June 05, 2012, 12:04:40 PM
 #21

There is no fuel for the rocket. With fuel I mean bitcoins. Sellers are simply gone at below $6 prices in most exchanges. Someone wanting to buy a decent amount at $5.5 right now simply can't do it because the market is so thin. His average price would be way over that.

Right now if someone put up an ask wall at $5.5 it would be eaten very fast. But there is nothing there. Nothing anywhere. Interesting to see what happens.

If your idea of rocket is the same as mine, the fuel is fiat, not bitcoins
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June 05, 2012, 12:05:33 PM
 #22

There is no fuel for the rocket. With fuel I mean bitcoins. Sellers are simply gone at below $6 prices in most exchanges. Someone wanting to buy a decent amount at $5.5 right now simply can't do it because the market is so thin. His average price would be way over that.

Right now if someone put up an ask wall at $5.5 it would be eaten very fast. But there is nothing there. Nothing anywhere. Interesting to see what happens.

If your idea of rocket is the same as mine, the fuel is fiat, not bitcoins

The bitcoins need to be there to buy... otherwise the big money will be scared away by slippage.

EDIT: This can also be thought of as the market being to heavily swayed to the bullish side psychologically... since there are very few bitcoins for sale ... and we know what happens next...
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June 05, 2012, 12:11:59 PM
 #23

rocket did start but not lift off, let's see if people want to go to the moon

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June 05, 2012, 12:20:35 PM
 #24


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June 05, 2012, 01:30:28 PM
 #25

Now there is something to bite at $5.5. This is the point where we see how bullish the market really is. If that wall is eaten, the rocket will lift off. If not, we will see ping pong between $5.3 and $5.5.

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June 05, 2012, 04:35:40 PM
 #26

what a pathetic little ask wall.

ask wall?  Those don't exist anymore Smiley

No shit?

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June 05, 2012, 06:46:52 PM
 #27

no: with shit
http://btccharts.com/#m=mtgox-BTC-USD

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June 05, 2012, 07:51:34 PM
 #28


Looks like a wall to me.

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June 05, 2012, 07:59:50 PM
 #29


it looks like once again 5.50 is the top...
my guess is we wont drop much lower
we'll form a triangle to allow us to break 5.50

you heard it first from the 8$ guy
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June 05, 2012, 09:09:07 PM
 #30

can we go to the moon next week?

Everyone knows the moon's made of cheese...

Mmm, cracking toast Gromit!
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June 06, 2012, 05:55:20 AM
 #31


Exactly. 2 walls to be precise - a lower wall of 5.30 and an upper of 5.50 between which speculants can play and walk back and forth. In 2-D, 2 walls is enough to lock them in.

I am looking forward to another few months of stability.

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June 06, 2012, 07:01:54 AM
 #32


Exactly. 2 walls to be precise - a lower wall of 5.30 and an upper of 5.50 between which speculants can play and walk back and forth. In 2-D, 2 walls is enough to lock them in.

I am looking forward to another few months of stability.

This. Although I'm personally thinking that there would be another spike to the sub- $6's.

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gewure
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June 06, 2012, 12:17:06 PM
 #33

There is no fuel for the rocket. With fuel I mean bitcoins. Sellers are simply gone at below $6 prices in most exchanges. Someone wanting to buy a decent amount at $5.5 right now simply can't do it because the market is so thin. His average price would be way over that.

Right now if someone put up an ask wall at $5.5 it would be eaten very fast. But there is nothing there. Nothing anywhere. Interesting to see what happens.

everything you said sounds very bullish to me

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June 06, 2012, 01:15:48 PM
 #34

everything you said sounds very bullish to me
Well, I'm almost never bearish. Everyone knows that. My take varies from neutral to bullish to very bullish. You haven't seen the "very bullish" yet. :-)

Right now there is something to bite at $5.5 and I still think that it's rather likely that someone will bite. That would lead to a rally with the real resistance forming somewhere around $6.

It's possible that the rally ran out of steam right here but I doubt it. We'll see in the coming days anyways. Nothing is certain.

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August 19, 2012, 12:00:51 AM
 #35

I'm predicting this is a false swing. With Bitcoinica gone there's far less trading with leverage. The manipulators lost both their tools and funds when Bitcoinica went belly up. We won't be hitting 6 for awhile.

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August 19, 2012, 12:47:42 AM
 #36

Is taking off again!

$200k to $6 atm.  Haven't seen that in months.  In fact, the entire orderbook is looking like December...
I wonder where this one stops.  $10 anyone? Cheesy



looks like it took a pause after getting to $15.40

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August 19, 2012, 01:07:49 AM
 #37

Is taking off again!

$200k to $6 atm.  Haven't seen that in months.  In fact, the entire orderbook is looking like December...
I wonder where this one stops.  $10 anyone? Cheesy



looks like it took a pause after getting to $15.40

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