Does that look familiar to anyone ?

Can we make it 140, 100, 140 please?

Wall exit velocity is $5 ahead during the fall, wall means nothing unless owner is asleep.

That's true. What scares me is what will happen when those who bought at $80ish to $100ish are going to cash out at $160 to $200. As I said earlier, the feeling is not any more "buy and hold" (which lead to parabolic growth), people is much more cautious now.

Short the shit out of this false breakout dudes like a boss! Dont be sheep, sell like a man.

Disclosure: Sold BTC772 at $153.

2 min lag and growing.. and It was just a big buy, there wasn't time to react by the people.. If the price doesn't maintain or goes up from now.. hard that the 120$ will sustain.

The last time it did this was April 11th, during the early stages of the crash to $50

I just feel more comfortable with fiat at the moment. If it goes up, I'll catch it up, I'll lose a bit but that's fine, just don't have a feeling the risk of staying behind is bigger than opposite.

Until we get a robust exchange which is likely within a few months, I think the price is hugely overvalued. It might in the very short term go up to 160 again, but the trendline is down for a bit because it is just too risky to invest at 140 and those that might buy would be very jumpy.

Well, the dumpers will run out of steam if the price doesn't go below 120 before Saturday is through.  Once the dumpers have dumped their last dump, the price will go up to around 150ish or so easy.

at this point, i'm starting to see this as likely. if we continue this consolidation in the short-term without breaking out, that would be a signal to sell. all i was saying was that i was confident $120 would hold overnight.

We are simply having an uber low volume period, we are at the end of the triangle. When we break it, in a few days, it will be funny and 111 will not matter anyway.

So, returning to the topic of this thread, which way will it go next, up or down?

I am shorting it... and I know it will fall. Its just making all of you a fool

There is no BTC reality. Currency value equals to amount of gold it holds. BTC has nothing to back itself. No Equity. Pure liquid capital investement. When the anonymous japanese runs away with all your money.... people will cry here

Well, bulls are still crapping their pants - look how nobody moved their bids up after the spike to $115.5 - plenty of bullchickens on the team green.

Bulls, wait before claiming victory, we could turn back down quickly.

I had no fiat, so it was one or the other, and I have done terribly trading.
So I will have a shiny 3x HD7970 rig, churning out 2GH/s - and my ASIC will eventually arrive, so I'll do ok in the long run.

Money flow index has it in an over bought position.  My guess is it's coming back down. 

Must admit, I am a bit surprised ... expected a bit more follow through and volume on this breakout
Don't know what, if anything to read into that other than that my expectations were wrong  

On a personal drama note, I tried to ride the wave of dumps by short selling BTC and instead ended up having to buy back at same price while losing a coin in fees. Bummer.

Will there be more waves of sell off just like last time MtGox was sued.

Trading below $110 on Bitstamp ...
Suggests to me some people are using up fiat on Gox

I've never denied the fact I want the market to fall.  And if you read my posts, I said in my "speculation" as a US citizen, this is going to be bad.  And it's going to be.  I guarantee it.  Now, you may not like to hear that.  That may frighten your bullish position but I have the right to my "speculations".

I do.

Unfortunately.  

Soon it will be alive!

Please stop quoting Coinseeker.

OANDA adds Bitcoin to their Currency Converter

http://www.oanda.com/corp/forex-lab-notes/2013/apr/22/why-we-added-bitcoin-oanda-currency-converter-1920/

Bitstamp! Don't tell me your down now...

y u do this

edit: well that was quick. Man, are we really going to rally now?

the question is whether it's worth buying more on bitstamp with such massive ask walls...

Dude, there's a graph on the same page as your post that tells you the answer.

4770 now, now sure where you see 2k

meanwhile on bitstamp I doubt we're going about 115 for a long time

Yeah we need more buyers on bitstamp.. where are the arbitrage bots when you need them?

Despite or perhaps in spite of, what others say I find it increasingly difficult to dislike you.

hmmmm, I trade on bitstamp, this smells a bit funny...

any new announcements re dwolla etc?

Look how the coins vanish from the order book

hello everybody

as I am very busy lately I can't follow developments
so, one question;

is there any known reasons for this rise in price?

Feel like a noob for asking - but can someone explain the bid sum/ask sum graph from blockchained.com?

Will

I can imagine that quite a few who bought in around $112 will have their fingers hovering over the trigger right about now. Lets hope most have steady hands.

I don't know how many people are in it for the short score. I think most buyers are looking long term.

a $6 price difference that won't last long. I wish I had fiat on Bitstamp!

and you'll never get it back

I think that's pretty unlikely. These walls are probably mostly from gox... bitstamp has proved itself pretty reliable and reasonably liquid. I doubt these big sellers want to go anywhere else.

Yes, damn those poor people trying to get off of the bottom rung of life, it shouldn't be allowed!

Stopping Dwolla is a good way of oppressing the poor and maintaining the status quo.

*puts on tinfoil hat, salutes Che Guevara poster, and goes to work at breadline wage job*

Yes what happens when Fear, Uncertainty and Doubt turns to facts?

I'm posting this here both to warn those who ignore everything other than gox not to get carried away by gox-only movement and also to try and nudge anybody with arbing capabilities to do us all a favour and make some money helping us discover where the price should be right now.

Makes you wonder what it's gonna take to get the price moving up. If this, Webmoney, paypal founder's investment, and gyft among other good news didn't do much, what do we need?

A candy for the bulls:

Up, up and away. How can it go wrong !

My plans are ruined at BitStamp for the moment.  Guess I'll just sit back and watch.   

2800 BTC before we go over 120.  Buy wall is growing slightly and the ask wall is coming down.

There is lots of buying pressure, right. But it can't move the price, and at some point the buyers are out of fiat. Then its the turn of the sellers again (just the nature of every exchange ever ), which will move the price (simply because the ask walls are way weaker). This equation only changes if mt.gox rises significantly, amplifying the buying pressure.

Anyhow, IMO more time passes with this stability, more sellers will get impatient. Fiat is slowly decreasing on Gox, while at Bitstamp there's still pocket money,  and I really do not see how that could change fast. I don't see buyers getting nervous.

Whooho!

Was afk for a while, and coming back see that most of my buy order at 117.11 got filled 

Definitely of topic for this thread, but that was just too cool. *veryhappy*

Looks like classic head and shoulders forming.

Looks like the slow upwards rally continues.

The bid sum is not increasing though.

Unfortunately I do not see that. Bid sum at Bitstamp was $955k a few days ago. Now its $1.05M. That's a tiny improvement. And it is still a joke compared with the $20M sitting on Gox's order book.

Ask/Bids at Gox:



Strange pattern, but I guess people are leaving, but those who stay, see a higher price.

bitstamp is really racing today: broken through 125$ (no real walls, but about 500BTC in orders). 670BTC left to 126!

The ask wall at 127.72$ simply got pulled again because nobody bought and price moved away. Completely senseless, why not just buy into the walls if you are placing it that close to them?  

Bulls logic when price is going UP: BUY now or you will miss your chance, its now or never.

Bulls logic when the price is FALLING: cheap coins, BUY BUY BUY.

So shuld i listen to you ?

This is that making it so hard becuse bitcoin is my first try in this type marketing

Awww that so boring :p i want to read and learn in a fun way like this topic . I havnt made judgement on my buy and sell of this topic , and i will probebly never do . But some of my enjoying of this thred just died

Ok , let's hold the bulls a bit and be serious , with facts
NIKKEI is way higher than it was one month ago , even with the drop , ( not 12%) and currently is running green at +0.9%.

Let's not get into another Cyprus story

I'm thinking of switching from Bitstamp to Mt.Gox. It's kinda annoying that Bitstamp just doesn't seem to want to go up together with Mt.Gox. I feel there are a lot more trading opportunities on Gox. :/

Last 9 H4 candles have been green.

Pretty bullish.

As soon as there's a slight drop on Gox, Bitstamp absolutely shits itself. But when there's a big rise then Bitstamp just doesnt care.

 

Sold @129.5 on Bitstamp. Knew something was not right here.

It could be, it's only a $5 drop which would have seemed like nothing a few weeks ago, merely one of many bear traps on the way up.  I'm not saying that I know what is going to happen though so this isn't intended as FUD.

Oh well, price was starting to run away.
Bought back in at 128, +0.5%BTC - could have gone better, but could have gone worse too  

I am all in again. (okay, that is my default stanze  )

I agree. We should go back to $20 then. 

If $124 is cheap for you, you'll have them all right.

what do u mean "too risky", too small of a profit or less chance to buy back cheaper?

OK, I have no problem. But why has gone? ... we will make different consequences.

Fiat is pouring out from Gox's order book. Bears are better equipped for the next assault to $125.

It's crucial for the bulls to win that battle. If they win it for the second time the battlefield will be full of bear corpses, and they won't dare to try to take that spot again.

If they make it fall... Well, we will see much cheaper coins (below $120), and a mid term downtrend would be expected.

Many traders will just sell and prepare for bears ruling if $125 is broken because that would mean that the trendline that was drew from the $79 and $103 lows is gone (30 days chart).

I agree that breaking $120 would be VERY BAD for bulls, while a breaking $125 could be reversed with enough faith... Anyhow, if $125 is broken is more likely that $120 will be broken too, triggering a bear market before testing the real tipping point, which is $166.43.

Ha! Sold my bitcoins at 126.99 (bitstamp). Now I just mustn't miss the dip... 

lol

Btw.: I decided based on technical analyses as well. It was telling me we were and are in a downward trend.
What it (obviously) can't tell me is when the trend will break. 

The movement is undecided, which means we are still in a downward trend.
The 2kBTC buy is enough to make us go up in the short term (which means I rebought at 125[bitstamp]  ), but whether it will be enough to start a trend reversal? No idea what so ever...

They don't have to stop Bitcoin.  All they have to do is publicly link it to terrorism and block the flow of money.  It will then be unpatriotic for any US business to even ACCEPT Bitcoins, let alone become a legal money transmitter.  Delusions, delusions...everywhere delusions.  Without the US, Bitcoin is DEAD!

please no hating on this thread,

 americans != american government

i think the US has made it pretty clear they will leave bitcoin itself alone, they will simply require strict records to be keep as to who is cashing in and out of bitcoin.

I agree it's good news for Bitcoin, if it's sincere.  Now submit to regulations and hope for the best.

hmmm a couple of points to think about (mostly rephrasing things Its about sharing has said):

1. an argument for central authority enforcing rules is that it can theoretically protect people from murder, theft etc. by enforced legislation. (I say this, because as it turns out people in positions of power have little incentive to actually do so) In my eyes this is debatable but I'm willing to grant that this may be so. Now let's look at the other side of the coin: what about crimes of theft and murder perpetrated by those very same authorities? Concentration camps, Gulags, Ethnic cleansing, wars for profit, devaluation of currency, outright confiscation of gold and/or currency, taxation - all those are impossible to commit by individuals, you need an institution like the state for this. With this argument I think the proposed remedy is much worse than the illness it is supposed to cure.

2. another argument for central authority enforcing rules boils down to references to "human nature" - usually portraying it as base, savage, selfish and violent. I see several problems with this: first of all "human nature" might be much more variable than we have been led to believe by living in a relatively stable cultural environment. People have been known to live in monogamy and polygamy for example. Which one is human nature? Human nature gets shaped mostly by genetics and environment. And I say that environment has a much bigger impact on your behavior and values than it generally gets credit for. So referring to "human nature" as something fixed means overlooking historical diversity as well as the potential for further evolution.

3. connected to the human nature argument is a point which Its about sharing has touched on: darwinism and survival of fittest. "natural order" usually gets associated with "survival of the fittest". This is an incomplete picture, though. If you study the behavior of various biospheres you will see your fair share of predators depending on their individual strength to survive. But the more developed and complex the biosphere, the more organisms you will find, who don't fall into this category, but rather ensure their survival by being essential to that biospheres functioning. In other words, survival of the fittest (competition) is a valid evolutionary strategy but so is survival of the most valuable (cooperation). Let's not forget this. Viewed through this lens a potential lawless society starts looking less scary.

4. we don't really know. This is important to fully realize. I don't know if and how a society without a central governing authority would work in todays technological and cultural environment. I freely admit that. But neither do YOU. Statements like the following:


simply assume perfect knowledge about elusive concepts like human nature and what exactly would happen. I view this as arrogant and foolish at best.

But as has been mentioned - our reality grid gets shaped by the culture we live in, one could say that culture is our collective operating system. Today most people don't know how to program their own operating system. Most of them aren't even aware that such a thing might exist, they simply accept whatever prevalent cultural norms there are as "reality". Their operating system and thus view or reality gets to be programmed by media and public schools and it's easy to see how these sources of programming might have an interest in preserving the status quo.

5. Because there always have to be 5 points (see The law of fives for clarification): In the end it's in our hands how we want to live our lives. If you want to submit to a central authority dictating how to live different aspects of your life for whatever reason (maybe you feel insecure about your own sense of judgement, are afraid of deviating from norms because of ostracism or just don't like to take responsibility) that's your choice. but PLEASE for the love of everything that is dear to you: let those who don't want a life like that be FREE to not join your game. As it turns out there's a big chance that the next major inventions and technological improvements will come exactly from these people.

The are either very ignorant or they really think they are outside of the reach of the USG.  This means nothing, as it relates to USD, if you don't have a MSB license.  To my knowledge, they still don't.  Speculation:  Mt. Gox is going down.  This would be a devastating blow to the Bitcoin economy.  Just looking at the market depth, there is currently ~$18 million in BTC.  And looks like ~$16 million in fiat.  And that's just what's in limit orders.  No telling how much is just sitting in accounts.  Either way, if ~$34 million instantly vanished from the Bitcoin economy, it's going to leave a mark.  Hell, people can't even read a forum post without freaking out.  The panic selloff that would result at the remaining exchanges, would be tremendous. 

Cheap coins anyone?   

fiat slowly sinking at Gox

But... but... where are all the bulls?

Yes - but where is it going? Surely not to Bitstamp, even if wishful thinking could lead us to believe that. Some coins went indeed from Gox to Bitstamp (but still a small amount compared to the amount that vanished from Gox's order book), but the fiat is nowhere to be seen.

I know is slower to move fiat - but anyhow this "draining" process started aprox. 15 days ago. If fiat was stampeding to Bitstamp we would have seen it, and the numbers just don't add up.

So... Scared bears with pockets full of fiat, willing to cash out profits for good? It's true there is not much moment (not upwards, not downwards), but cheaper coins are expected unless some whales hop on the train - which can always happen, Bitcoin market is so ridiculously tiny that just a couple of 7 figures players can change the trend in the blink of an eye.

Add to that the bubble-burst effect (less interest, etc.), and there you have money saying "bye bye" to exchanges.

I have to admit I withdrew all the coins I had on Gox and I stopped trading for the last 3/4 days. Next week I will still send some fresh fiat I'm managing for a couple friends to Gox, but I will place my bids quite low, wait and see. All the indicators are screaming "down" ATM.

bitcoin 24 accounts are free apparently .; thats 7milj euro to go somewhere

search for "BTC24 Limited" on facebook.. read it for yourself

I think they could withdraw bitcions some time now..  (not sure though)

Bitcoin was released about a month ago (score 1 for a decentralized currency).

Definitely a bear signal....  If he can't raise the price enough to unload his BTC in a controlled fashion, then he'll be dumping his holdings at market!

I don't really know whenever that is really bullish or bearish.

If you consider that this thread was meant to undermine the manipulation from walls the wall placers are now attempting to undermine the attempt of undermining this manipulation.


I figure it looks something like this.

lol - now THIS is entertainment.  Everyone is so confused 

So what, who will try to break the wall?



Dear bears, you will not succeed!

Then you should buy ASAP!

If I had 10kBTC, I would sell it. But I don't   . And I need € to buy land, greenhouse and fence.

Don't remember. What happened Frozenlock?

Volume isn't just lower compared to post-crash, but also before that:

Wishful thinking, bull.

A more likely scenario is that speculators consider the price too high (potential reward greatly outweighed by risk at the moment), stubborn miners in a more competitive environment are holding positions, stubborn sellers are not willing to go lower than their entry point and there is a much reduced flow of money into Gox. Unlikely that the regulations are primarily responsible for widespread panic or reluctance to buy in. It is true that the regulations make it more difficult to get money into Gox, but generally only for the criminal-minded. If you have nothing to hide, it is still easy to get money into gox, for example via wire.

I would entertain the possibility that recent regulations have scared away a small minority of criminals who were using bitcoin for money laundering. If this minority was responsible for most of the previous volume and are now absent, then I'd bet on a long, drawn-out downturn.

i'm so mad at bitstamp right now

Wow. Less than $14m on Goxs order book.

And on Bitstamp, just a little over $900k.

When fiat goes away....

....cheaper coins ahead.

There will be nice buying opportunities.

It still won't let me redeem the givaway, I take it that it's the same for others as well, and that only a few were able to.

That's wishful thinking.

That's wishful thinking.

This. The test of $115 will happen muuuuuuuch earlier than "within a week or two".

Fasten your seatbelts, gentlemen. The post-crash upwards trend was officially broken yesterday.

Interesting...
If really you want to be the careful type, shouldn't you wait on the sideline with your fiat ready, as price has a tendency to fall faster than going up?

Imagine selling all your BTC and then seeing the price just leave you behind, forever...? having to buy in at a massive loss or just accept it's game over, buy that ferrari you never really needed and not look back? Bitcoin is so... revolutionary... it's like being back in the early 90s before the internet took of... like buying shares in google, apple or facebook before mainstream adoption... I can't stomach staying out of this, bitcoin is my wildest fantasy coming true... this is why I am the careful type and hold 100% BTC  

It's better losing some fiat (temporary) than to end up with sellers remorse.

can't see it.. am i the only one?

I've seen trend lines drawn on log scales, this is linear scale.  Which one's right?

Not sure if i was totally clear:  If Y is a log instead of linear scale, the second "dip" will be above the line, so no longer a part of it.  If you mean the slope's too insignificant to make a difference, just change the time scale.

Your line is wrong, its already broken. Next target: $50. And soon after that: $30.

If you draw a trend-line from one wick to the next it is broken if another wick crosses it. That's just the way it is, sorry the trendlines are broken.
The best you can hope for is a "false breakout".

GUYS,GUYS, you're missing the action ... we just made a new 24 hour high ... 122.1 
The rally is ON !

About time. I was waiting it since Monday. I expect testing $105ish, if that is broken $80ish, and if that is broken too, $50ish. Really don't know how low we will ago, but I'm pretty sure no lower than $50. And from there, the only way is UP

i think we are going to slowly dip below 115 and then start to pick up speed as we go lower
the bottom is only XX days away!
get your fait ready!

The price of Bitcoin is largely irrelevant to economic activity. XRP for instance has a theoretical market cap several times that of Bitcoin, yet nobody really uses ripple right now.

I wonder where all the fiat goes.. after so many  dumps the last weeks..      is it sitting there..?
is it moved way.. ?

I use a toilet for that... u know... toilet!!!!!!

I know pretty well I stirred a bitbee nest by saying that but don't forget.
Greed will destroy every dream no matter how beautifull it is  , and currently bitcoin is driven by greed.

Unlike many others on forum , I haven't put all my hopes of a wealthy future in bitcoins succes, and thus I can keep a cooler head than most people here.

Let me explain why I feel hoarding is bad , and not because of this keynesian b*** which i don't give a crap about.

Worst case scenario
We have people accumulating bitcoins , people not using bitcoins , price skyrocketing because bitcoin is such a great idea, and there are fewer and fewer bitcoins (people are stashing them)  until , some moroon realizes

Why the f*** is a bitcoin so pricey when you can't do anything with it.

You know what happens next. And this won't be a bubble burst.

As I remember people saying when the price was skyrocketing but other were still denying it was a bubble:

If it looks like a duck, swims like a duck, and quacks like a duck, ...

free yourself!

Sold some at 98ish, sold some at the bottomish around $90 (as usual).

IMO the case for the "correction" is officially debunked, we are officially in the bubble deflation process, thus I expect it to go lower. Testing $80, and if it falls, testing $50. I'll load the truck at that point.

I would love for it to be fast, as we could enter a mid term growth phase quicker, but I'm afraid it will be long process. I expect plenty of traps and mini sucker rallies, as usual during bubbles deflation.

Bottom will be touched when people stop talking about "cheap coins" and talk about "dead coins" instead.

Somewhere between $9 and $49 I think...

Following the pattern 1:1?

Nearest competitor - 12%

Well according to all the nice 2011-2013 graph overlays we are right on track for the long and painful slide.

price is about to explode to 180, and you guys are wondering why someone would buy it up to 110.  

too funny

I say, now that we've broken through $111, it's $119 by Saturday.

Bitcoin can go any way at this point; The oppostite is also true,
One big buyer can trigger an uptrend now.

Reached for sure.

Can someone explain the large Bid Ask imbalance - I mean it is easy to see but with so many bids (support?) right below the price and so few sells above the current price, shouldn't we be going up?
I've noticed it slowly had been building the last 2 or 3 days (as we went down.)

IAS

Super weird. I snagged 5 BTC at 95.19 on Bitstamp this morning - when the price doesn't appear to have dipped that low?  Anyone ever seen this?


Great - I'm in before the Bitcoin Apocalypse

Bids are piling up, but price is slowly goes down, which means that more bids are sold into that asks bought. What buyers are doing is slowly moving their bids lower and lower while sellers sell.

There's no rush to buy.

I think people will buy when they think it's cheap.

Unless there is some action tomorrow, when you're asleep. You might have an opportunity to lower your avg price.

What do you use?

They are both on dfferent scales ... change the scale and you can make them cross anywhere you want  

They number may be the same, but they are in different units ... Bid/ask sum is in %, price is in $.
I don't deny that there is some correlation between bid/ask sum and price but looking at the crossover point seems arbitrary to me
But feel free to use it as a trading indicator if you wish ... it's your money

You are wrong ... if you disagree go take a maths test
The numbers are the same but the units are different ... think about it ... how can bid sum/ask sum be expressed in dollars ??

does it mean that the sum of all bids is expressed in USD and the sum of all the asks is expressed in BTC?
sorry for noob question

So 'ask sum' in the bid sum/ask sum RATIO is defined in BTC is it ?
Look at the chart below, which has 'Bid Sum [USD]' on one side and  'Ask Sum [kBTC]' on the other and see if this confirms your theory

Hint ... it doesn't

I was referrng to the lower of the two chart in the original post

Yes, I just did the same ...
And now it's time for me to admit that I am wrong !
Oops ... apologies for being patronising - that misconception was firmly rooted in my head

Moving swiftly on after being schooled ...



It's an odd measure ... gotta go away and get my head round what that actually means in absolute terms rather than trends

And so they should be, because of the size of the post-bubble correction coming.

In the words of the inimitable George Bush Jnr "fool me once, shame on me, fool me twice....doh!"  

A few lines of evidence say it's coming, nothing but blind hope to say it's not, I say : Baaaaa

We define evidence and hope differently, a few of the highlights:

The bounces were smaller every time, indicating that the market will not (yet) want to go up. This means it will go down. If it can't go up here it will go down.

This will happen:

-> a little bit more bouncing around here at these levels
-> decisive move below $100, breaking previous lows (huge triangle break)
-> fear and panic
-> $50 -> bounce -> a few weeks of hope -> down again
-> $50 -> smaller bounce -> a few days of (smaller) hope -> down again
-> $50 -> uncertainty, fear -> break -> stops triggered and n00bs panic
-> $30 -> strong bounce -> a few months hope -> down agan
-> $30 -> smaller bounce  - a few weeks (smaller) hope -> down again
-> $30 -> uncertainty, fear -> break -> more stops and more panic
-> $20
-> me converting most of my Fiat to BTC
-> price goes up again, third bubble slowly beginning.

Yes, comparing TA to weather forecasting was a bad example, as you have described.

TA is not effectively worthless, as you have stated, because I have used TA to make profitable trades. If I did not use TA, I would be stuck in a losing trade right now.

Successful traders use it every day to make money trading stocks, commodities, and currencies. I don't understand how you can say it's worthless. You have people on Wall Street, working for immensely profitable institutions such as Goldman Sachs and Morgan Stanley, and their only job is to trade. These companies recruit from universities such as Harvard, Yale, you name it. And what do they teach them? TA. What do they use to trade? TA. These hotshot traders make those trades with TA and bring in the dough and help make these banks rich. Why would GS hire traders and teach them TA if it was worthless?

OMG you're right. Creating a fake rally and selling into it is such not a good strategy to make money!

sucker rally

This isn't the "big" breakout I was talking about yesterday, but it is a breakout in it's own right.

Good luck to all who are in. I'm staying out for now, it looks like standard tactics to raise the price with a big wall prior to a dump

don't forget the bubble deflation in general

Both the run up and in conclusion the run down are taking longer this year than 2 years ago. Gotta scale it, it's gonna line up much better then, but the picture ain't not so bullish as you armchair manipulators want it to.

That's quite a bearish chart in my book.

If my memory serves me well i think there was a 7k bid wall at $130 that looked legit and it got eaten, it was pretty much like this.

I'm not buying also, i sell at 95€ so i have a little margin.

What a surprise. When we go up someone will make sure we go down again. Because letting Bitcoin getting worth more is out of the question!

When there's utterly zero volume at 98-101, this is no rally. The only place a rally can come from in this no-volume market is from whales manipulating the market with large buy orders. This isn't like it was in March-April-early May where Gox had millions a week being wired to it and the market had natural buying pressure from a large variety of players. Most of the newcomers lost their shirts to the whales buying at 200+ during the bubble and 150+ in the ripple immediately after.

As speculators, people should be thinking about how to make money from the manipulation without feeding the whales. Thinking that this is a true valuation of BTC is utterly foolish in my opinion.

You don't profit until you sell, son.

I think the rally + the wall buy is legit. There was a wedge, and we broke upwards. I bought 2/3 in, at a loss.

We will now form a handle to the cup tomorrow in 106ish, and then continue up.

Why am I the best troll, even now under medication??  

Proudhon has disappeared, and most the cadre has changed.  

No, I bought at 102 and sold at 108.5 today  

Inverted Hammer and Shooting Star

The Inverted Hammer and Shooting Star look exactly alike, but have different implications based on previous price action. Both candlesticks have small real bodies (black or white), long upper shadows and small or nonexistent lower shadows. These candlesticks mark potential trend reversals, but require confirmation before action.

The Shooting Star is a bearish reversal pattern that forms after an advance and in the star position, hence its name. A Shooting Star can mark a potential trend reversal or resistance level.

Question to everybody:

How did your sentiment change after today? Would you rate it more bullish or bearish to see the price rise quite fast from 98-100 to 113 and drop back down to 104-106?

I see no handles, only a movement downwards approaching.

You need to factor that rpietila sold low and bought high earlier today, that has to mean something

500 BTC buy wall eaten alive but no price drop afterwards... that's new.

Awake and not buying.  This is a trap.  Actually looking for the right spot to sell.  Double digits are coming...

Yup and the 5 times before that, it did exactly what I said.  Things never look good for bitcoin, that's the nature of bitcoin.   

Gox 112$, Bitstamp 107$, almost the same price as btc-e, which is unusual.
People from GOx are selling (low) on Bitstamp? Maybe they fear Bitstamp locking withdtrawals too.

Biggest disparity I have yet seen.

Bitstamp - $105.75
MtGox - $112.20

$6.45 difference, quite telling considering todays news.

No, not exactly. We had what looked like a shooting star candle (upside down hammer basically) 2 days ago but it didn't form. Then yesterday it was just long wicked one with a decent body. Today is a bit key due to the resistance area(s). Now we are forming that shooting star with good volume (52k), just below resistance.

Which in the current market would amount to the MTGox price because
1) MtGox has the highest price by a significant margin.
2) MtGox still has the highest liquidity.

One of the beads got jammed on their abacus

We've gone down from roughly $130 since the beginning of this month. To say that the recent down trend is just about the Gox issue is ignoring a larger picture. I don't deny that Gox's slip up contributed to the recent down move, but it isn't really a big deal though it adds uncertainty to the already uncertain picture. Perhaps the recent down trend and the Gox thing cumulatively are responsible, but I'd say the larger of the two is the $30 down movement.

If we break and stay below $100, I think it will be clear that this is a part of the post bubble adjustment.

IAS

It means SELL.

... and sell low?

Very true. The bubble has popped, and we are now in the process of deflating it until we hit CAPITULATION.

▼ mtgoxUSD    96.5000    
▼ bitstampUSD    90.9000    
▼ btceUSD    92.1320    

Incredible how dysfunctional this market still is. Bitstamp keeps leading the way for MtGox now.

If you are not out, get out.

Unless you are prepared to hold for YEARS and willing to lose 100%.

I look at you (Rampion), Frozenlock, Blitz, etc. and know "I don't know as much as you guys". But that is good. It is "wise" to know that you don't know. It is ignorant to say you know when you don't know. And I'm not trying to pull a "known known" Rumsfeld, but there is some truth in the false if you pay attention.

Oh dear, someone just established 100 as a resistance by buying to 100.44 and having it fall.

Goodbye, triple digits. See you next year(s).

Well Gox assured everyone they will add litecoin probably within a month. No way to know exactly when so everyone is getting ready.

Well, that's the point.  You're not supposed to want to buy a currency as an investment - that defeats the point of a currency.  That's why BTC being "more like a commodity" is exactly why it has these giant swings.  The point of a currency is to facilitate transactions, not to provide a return to speculators.  No one should be hoarding them, they should be investing / spending them.

A truly functional cryptocurrency would have a definite rate of inflation to make sure people aren't just sitting on them.

That Winklevoss ETF might have saved our asses here. Look at the price sprint back to $100. Their valuation.

The proposed ETF is a positive statement of intent IMO. The Winkelvii aren't going anywhere. They're market making.

Bitcoin is not nearly liquid enough for big players. A listed ETF could represent a bona fide, legit trading opportunity (notwithstanding taxes and fees - which, incidently, evidence legitimacy!)

A possibility :
ALL the speculators on Bitstamp are already out.
Only remain the long term holders and investors who don't care about other exchange prices.

"Slow motion" it took 2 years for gold to do the same corrections (or what ever we call it).

Smallish BID filled at 62ish EUR, sold at 63.9x, +1% profit and now no more catching knives till the '$70s.

The bears in here are so bullish that love to see how their dirty fiat can buy more coins for them, day after day.

We may be coming out from the "return to normal"/denial phase to slowly entering fear. I can start to smell it. People believing (or should we say hoping?) the Winkletards S-1 will take BTC to da moon. Over emotionality on reddit and these subforums. Noobs flaming bears. Noobs starting threads about how they bought over $100 and "will hold forever".

Those guys are usually those that panic sell when they see their investment decimated, and that's usually the very bottom. They will hold a little more and they will be deluded by each and every bull trap.

i'm calling bottom here.

Good for you to break free of the bulls' delusional denial hand-holding 300 spartan shackles.

Good enough to be emotionally prepared alone.

Does anyone else think that it is a little strange and inappropriate for a moderator of a bitcoin forum to be relentlessly campaigning against it?

I'd say that for a n00b, much better to step in NOW that in the first half of the year. Let's assume that everybody is buying little by little, first a smallish amount and then a bigger one, spreading their bids... Let's say rationally and not emotionally.

If you are in this for the long run much better to enter the market during a bubble deflation and being able to have a decent average entry price, that being caught during the speculative mania phase where price doubles every few days.

I think we may hit $65 today, and then a bounce up into the 70s again.

You're right and I think despite the fear that exists, there is still alot of hope out there.  Bitcoin has rallied back to 90 or 100+ with ease at times, so it's understandable people are holding on to this belief, even though it's looking less and less likely. 

I don't really agree we have fallen "real hard" from 130.  We haven't seen 130 in a long time, so it's certainly been a process.  Excluding that, I understand what you're saying.  So what happens when people really start selling?  I continue to believe in the general sentiment of the Bitcoin community over the last couple months and the view has been pretty much the same, "If we ever hit 50, I'm all in!"  Tons of resistance in the 50 range and that doesn't account for the fiat on the sidelines waiting for that moment.  This is why I say, if we break though 50, abandon all hope because the resistance in the 50 range will be the closest thing to a Bitcoiner unified front, there is.  If it can't hold, what's left?  At that point, you're absolutely right.  Look out below.

200 day EMA (blue line): once support, now resistance

This whole manipulation thing would be much less aggravating if I knew what is the purpose.  

And now the FUD for bears...

Will it really go down?

Perhaps it was the last chance to get cheap coins...
You know that everyone (that matters, money wise) was waiting for cheap coinz.  

What will happen? Up or down? And if we go up do we go down after that? Do we see $50 ever again?

IMO most Bitcoiners are the most sociopathic people there are.
It takes a *special* attitude to strive after a system where economic status is derived only by a unchangeable, unchallengeable, non-physical ledger.   

It's getting larger by the minute.

I would suggest you go all in now if you are a ideological bull

If that is a consistent trend among you guys we just have seen the top imho.

Hope is the prerequisite for despair.

Check out what we did in 2011 after a bounce from 5.74 to 12.1. That's more than a doubling.

I hoped more value is in my charts  

But seriously, if I were bullish (and missed all previous calls) I would place a BUY order between 91.03 and 89.68 and hoped that Mrs Market (there is no guarantee this will happen because Mrs market is getting more and more horny) will take me for a ride in a few hours.

EDIT:  Doesn't the increasing difficulty mean that the appearance of ASICs on the scene is nothing much for speculators to worry about, other than its effect on how other speculators behave?  All that's going to change in the long run is who gets to mine the coins, not how many they get.  It still doesn't make it like fiat currencies where the government just keep printing more (QE) and devalue the money that everyone already holds.  There's about 11 million coins already mined, no matter how good their ASICs they can never get more than 10 million more and that's not going to happen overnight either.

BTW, 66% of my trading stash joined the "investment stash" on a paper wallet. I sold the remaining 33% at $120 and requested a withdrawal to try some arbitrage with Bitstamp... The money didn't arrived to my account yet, so after the last rally my arbitraging move isn't looking too good ATM.

can someone tell me why they are fighting...

why do they want this  President Bashar al-Assad, to quit

and why does President Bashar al-Assad feel he is so important that people should die rather then he step down.

also wtf does the US have to do with this? i mean why are they invloed, what in it for them

just more millionaires who want out of bitcoin. Only way to do so is buy on gox, lolol. stupid whales.

we are crashing to single digits once fiat dries up.

sidenote: lol @ pathetic depth on bitstamp. This is the competition to Gox? lolol. It's sole purpose is clearly to cash out. not good sign of a healthy competitor.

Bottom line is price going up for ALL THE WRONG REASONS. Why you mega-bulls get behind this BS I don't understand.

*edit*

i do understand because it is your bullshit

For real. This Walsoraj was supposed to be the BULL version. He looks quite apocalyptic now (though I kinda agree with him).

This is more or less correct. Volume in April at this price level blows current volume out of the water. Not much panic buying to be seen.

Volume going down and price going up based almost solely on mega whale buys interrupted by days or even weeks of almost no volume is a terrible sign for most stocks. This shit happens all the time in scammy penny stocks. Whales left holding the bag trying to exit. It is not pretty.

You mean the opposite actually. LTC pumps often follow BTC crashes.

What if the next release from Greenwald is that NSA indeed can crack bitcoin?
What would that mean? the ability to get any private key when they want?

Ultra-crash? China, Russia and most countries around recommending not to use bitcoin?

Not only that the US NSA has the slightest sense of respect for their constitution or the rights of others or that even if bitcoin cannot be cracked they are probably keylogging us to hell.
Russians are relying more and more on paper for their secret affairs due to the insecurity of computers.

Should the people of the world rely their savings on something that can be corrupted/cracked/keylogged by design?

Really discouraging news about the NSA. Really sad. I have loved computer industry for 30 years and now it is like i want to vomit of what they are doing.

*raises hand*

The world economy is not likely to collapse.  There are a lot of problems, but there are a lot of people working on them as well.  Bitcoin is a great solution to quite a number of things.  Its a great way to make money, have fun, and do good.

But usury is not a problem; it's the goal. The question is whether the powers that be can maintain the system. The answer is: they can.  

Looks like I was a day early on my Thursday mega crash prediction.

Haha apologies Walsoraj. I'm drunk at the airport and inverted your name. Just wish I listened to you sooner could have saved me a few hundred $ to put back into the pit later

Your fault for well being an inverted version of Jaroslaw

I'm all cheering for prices to drop but I see good reason also:

this board looks dead, even with lots of price action
turnover on mtgox looks low compared to previous rise and falls where you would easily have 50K in 24h, now it's only 20k
turnover on bitstamp is also 20k, equally high as mtgox on strong move, that's new right?
bitstamp seems to be leading most moves now, meaning mtgox is really over

There was no $ whale, it was a pump and dump operation that drove the price so high.