Topic: 20/05/2014 Price movement from $445-500 (Read 5081 times)

Absolutely! We've been in this game just under a year now - it's one volatile bitch, for sure.

Hoping for volume projecting a breach of your red line, I too think it looks like that way - but as always, let Bitcoin do her thing.

I am not saying that we will get a $460-$500, I am saying that this would be a textbook retracement if one of the plausible possibilities were to ring true.

What I am saying is that convincing breach on volume of red line = Buy; whereas breach of green line = sell.

I suspect  that the red line is rather more likely to be breached than the green line, but one can never be too careful in this vicious cocksucker of a market.

It's all good brother - we were sideways $450 for an age! Decided then to hold out for another mini crash, and shot very low buy-in price. Very happy with the $480 buy-in considering I've been lucky and managed to sell a lot @~$560-$570 (funds are already on way to Bstamp).

Yeah $460-$500 on your indicators sounds ok and reasonable, however there will have to be quite significant volume to do that. I agree that we could stay around $520 on BStamp for a week or so. I think we'll be locking-in orders around $506, hopefully lower. But don't see this happening by Tuesday.

Best of luck with the potential re-trace brother - Hope it happens for us! Let me know when you spot some movement.

 

Until we are confirmed out of the grander Wave 4 corrective cycle, Bitcoin will continue to be a rattle snake and will bite you should you make any over impulsive or otherwise wrong move. Forget about the 'woulda, shoulda, coulda' factor that you are agonising over, and just try to play the chart without emotion.

As can be seen from the chart above, Bitcoin technically breached the Jan 2013, support line, but on low volume and not very convincingly, and then smashed through the Jan 2014 resistance line (not shown on chart) and proceeded into a rather vertical and very clean 5 Wave impulse move up towards the Dec 2013 resistance line, where it stopped dead.

Perhaps not very clear to see on this chart, is the black line denoting the support trend of the mini-bull run. This support line has now been breached, so it can be assumed that the bull-run is halted for now, and that Bitcoin needs to correct for a while. The burning questions are:

Are we in the midst of a Primary 5 Wave Impulse move? (medium term bullish)
Have we just seen the culmination of a 3 wave corrective move? (bearish)

At this point in time, I really don't know what the answer to these questions are going to be, but by looking at the chart, should Bitcoin breach the red resistance line, then chances are that we have just had Wave (1) of a Primary Wave [3] Impulse move up, and will be in the beginnings of a Wave (3) move by the time the red line is breached. If this were to be the case, then a textbook retracement would take us back to somewhere $460-$500. However, for anyone looking to buy in on retracement, there is still the very real risk that we are not in midst of a bear trend breakout out at all, but have just experienced a corrective 3 wave (abc) move, and are at the beginnings of a further 5 wave impulse bear trend. If this were the case, then anyone who 'successfully' buys-in at say $480, could find themselves on the end of a slaughtering. For me, a (convincing) breach of the red resistance trendline would be the next buy point, and a breach of the green support trendline would be a raging screaming sell.

Currently, we are in a no-trade zone, unless you happen to be a bit of a gambler or have market insight which I am overlooking at the moment, or hasn't yet transpired.

Sounds reasonable - Congratulations on $460-$520 margin (don't blame you for taking those profits) - I am hoping for a re-trace too, think we'll be happy to acquire another load @ ~sub$500-%505.

Strongly considering moving exchanges to Kraken. Bitstamp has been excellent they also seem to be processing my deposits more efficiently (2 days) however the spread is becoming significant. Seems to be a median range of $16 above over all over exchanges.

12Hr charts on btcwisdom show massive correction on April 1st, this was the last time in this price range. Can't remember whether that was news induced?
We bought a chunk around $480 after weeks of holding out for $380 - Yes I am a retard 

Still looking to buy some more, and hoping for a significant correction to sub$500 - Got a feeling this rally ain't over, current price is @ $528 are you looking to buy back around $508?

A 1500 BTC wall got pulled last night at $530 (Never trust the walls). Upon its disappearance their was a flurry of smaller buys that ate into the greatly diminished Ask Wall, but just not very much. Zooming out from the 15 minute chart, it can be seen that Bitcoin has just had yet another vertical moment and it can be seen that with each successive high (on Stamp), the volume has been decreasing and the RSI is showing negative divergence on all the smaller time frames. I came out my trade $20 too early (so far), but a correction at this point is now looking even more probable.

Bitcoin falling and staying below $520-$525 would be a sign that the rally is over and correction phase has begun. Correction could bottom out anywhere between $450-$500 and then the market would have to then decide again whether we have had our mid term reversal or whether we are still correcting and $450-$540 was merely a counter-trend rally. If I am proven wrong, and we can get above $545 on strong volume and retest it as a support, then this would be a very portentious long opportunity.

Yeah was looking at Vol's - thought we'd might see a rally up to $545 range to match last resistance in that range. Like you said we'd need another 20000K BTC to come into Bstamp ($550)

I'm currently managing to sell at $570 for next buy back on Monday. Hopefully in the $500 range.

As an update on what I am doing, I am coming out my trade at $520. 4 Hour indicators are looking pretty much maxed, or approaching maxed, we have had a clear impulse 5 wave leg up, and interest seems to be grinding down as we approach the $528 high and it would take some 3K BTC of buying power to break wall at $530. I could see a retracement right back into mid/upper $400s from here, so am deciding to take my profits now.

If I am wrong, and Bitcoin continues to advance North without first experiencing any meaningful retracement, then I would be looking for breach and hold of long term trendline (currently around $550) before taking another long.

I did, and agree - collective volume on 20/05 was impressive - nice one Mat!   Like you say will keep eye on sudden influxes, was thinking another 60,000BTC on Bstamp could be added today/tomorrow.

We got pretty close to $550 already. There is a flurry of optimism around regarding Bitcoin at this very moment so I would imagine that there will be another surge of buying power to retest the recent $528 high. When/if this comes, I would be looking very closely at the sort of volume that takes it up there. If the volume increases over the volume of the break out, and/or the the volume of of the $490-$528 leg up, then I would be looking to stay long at this point. Also worth noting, is that there is a lot of 'public' Bitcoin investment advice stating that if Bitcoin can breach and hold above the $545, then that is a sure-fire long signal. So having had an up until now 5 months bear market in Bitcoin, this ~$550 price range on the one remaining resistance trendline really is a critical point for the Bitcoin market.

I am currently holding my $460 long position, keeping a watchful eye on some short term EW trendlines I have drawn on my charts. Should the closest one to the action be breached, then I will exit the trade. What is more likely however, is that this trendline will be tested, support will hold, and Bitcoin will get another drive up towards the critical long term resistance zone. In this case, I shall either have sell orders set up or will be looking to sell at around $540-$550. If Bitcoin takes out this range convincingly on increasing volume, then I shall buy back in.....or if the rise is looking strong enough before hand, I may just hold my BTC through this threshold zone. If volume on the increase up to $550 area is decreasing over the volume spikes we have seen that has taken us up, then chances are that we will correct strongly from $550 area and will have to monitor further chart action to determine whether Bitcoin is indeed currently in the midst of a kind of Wave 3 (medium term bullish) or coming towards the end of a corrective Wave C (bearish).

Remember, this is all 'if's'. We could have topped at $528. We could have, but I doubt it. I think there is further to go for now.

Keep your eyes on the charts and most importantly, on Huobi. Despite what the Kool-Aid drinking fkn arseholes on this forum are trying to claim, Huobi has had a ten minute lead on Bitstamp for every leg of this break out rally. I have read enough posters trying to claim the opposite that has got to the point that if anyone is trying to state that Stamp is leading and then back up their claims with some form of rambling debate or 'evidence', they are going right on ignore because such people will never have anything to say to anyone that is truly balanced and helpful, infact anything that such people have to say will have quite the opposite effect.....but don't take my word for it. Got to Bitcoinwisdom, go to the 1 minute charts of Huobi and Bitstamp and see for yourself who is leading who.

I think we are going to be here for a  week or more ....it really seems to be doing the stair case moves & then consolidation

I think we have really matured and its a very slow confidence building process ...we have just come out of a horrific downtrend with many pplz being burnt in many ways not just from trading losses.... GOX just to drop one name lolz


Its looking like a really solid base and all of the wild swings have definatlly been taken out of the market with teh removal of teh china margin stuff

DOnt be surprised to 50$ qauntum steps

I would take market as i dont see it dipping below 480 as we consolidate further.... but 450 would be a 5-10% chance in my book

You are not alone my client (for use of a better word) has now moved his bid up to 450 ..I still think he is dreaming and I reckon this will be a trading lesson for him that he will learn teh hard way lolz

I am not going to play semantic games with you....."Yeah i say things without any thought" 

Dont talk to me anymore....as you obviously cant handle ever being WRONG in anything ...

Good luck with that in trading 

YipYip, what do you reckon mate? Going past $500 this session or mini correction first.

BStamps KYC questionnaire is pretty straight forward. Think it's sent automatically when you've deposited over $75K trade volume with them.
Took about 2 days for them to clear after sending  

So your pretty sure MAT we are heading towards $550?

Well said, to be fair!

What do you think of today's reduced volume? Any large (30000+ BTC) 1 day red candles after $550?

If you are jumping up and down telling people to go long all the time, regardless of what the market is doing, why should anyone listen to you?

I have however taken a long position, albeit with a fraction of the capital that I did have in Bitcoin since Bitstamp won't let me deposit fresh funds without giving me an anal probe first. But I went long at $462 to the tune of 11 whole BTC. I anticipate a further break out up to at least the final existing log resistance trendline (currently ~$550), from which point, things will start to get interesting.

I had been saying to take a position many times from 450 to many people

yes i also said it AGAIN to you  @ 510 which was the same time I took another tranche of coin

So you would on average be up btw both on a coin averaged weight...To be truthly honest i dont give a flying fuck about who was right & who is wrong as trading is not about this

So from 410-510  (i.e sub 500 is a good price)  I haev been jumping up and down saying to peopel to go long and that this is teh bottom which it IS

Cheers for pointing that out, wasn't aware volume really decreased compared to yesterday (So far??)

I think the whales maybe making large acquisitions @ market? So their volume is masked until order goes in?

I think its just a small bump.. there are really no good news , probably we can go to 550 but then it will back up again..

I'm obliged

excellent! we can go fly fishing finally!

not to be pedantic, but the correct phrasing is "case in point"

Pitiful volume today, but you never know what's around the corner. Case in point: yesterday.

Who thinks $500 barrier easily breached today?

This is the only news that could have caused it... but its huge.
http://www.businessinsider.com/ebay-is-considering-integrating-bitcoin-into-paypal-2014-5

It was a total nightmare. I used to use BTC-e because the buying rate was lower than bitstamp. After a series of bad experiences, I realised that paying a premium on Bitstamp was far preferable to the nightmare of trying to deal with BTC-e's customer "service". That's even before taking into account the various hidden fees on BTC-e which reduce the real spread vis a vis Bitstamp to little or nothing.

As you may have guessed Yip Yip, I am very petty when it comes to being proved right, especially when someone is just making things up and incorrectly reporting 'facts' in order to 'prove' me wrong.

Here is your post from April 15th 21:47 (UTC) where you recommended that I take a long position:


If you take a look back at the 4 hour chart, the lowest that Bitcoin could have been when you made this post was $506. The highest was $526. I remember it being around $520, and I was recommending a short. That was my 'official' short call. (yep, it went up another $20 before it came back down).

As for your insistence that the ramp up started on Bitstamp....pfffft.....anyone can check that fact that things kicked off on Huobi very easily at the moment whilst the data is still there to see on 3 min charts on Bitcoinwisdom......you should leave it a while before you attempt to start muddying the waters with your unsubstantiated claims. Rockhound already did. What did he confirm?

Actually it was 450 but then dont let the truth get in teh way of a good story bear boy

How are those sub 300 prices going ?

EDIT: Just so the facts are straight ....the first pump started on stamp 20 mins b4 hubio got onboard from 445-465

you would have to show me the charts, I dont follow. wave C is terminated because it is not a descending diagonal and it is a simple impulsive. so from here we expect a wave V or B to retrace wave A or IV. Either suggest a wave up to around 800-5000 as long as we are above 340. I think we are in wave V according to my primary count off 339.

Not so.

As you will know, the EW analyst has to keep all viable options open.

Without getting the screenshots of charts on the go (almost 3am where I am und ich gehe gleich ins Bett), there is a strong argument for $340, being the termination of a Wave (a) of a Primary Wave 4 correction. If that is the case, then $340 - $548 would be the impulsive first leg of the corrective Wave (b), and $440 - $??? being the third wave of the corrective Wave (b), which would leave the final leg of the corrective Primary Wave 4 yet to come (i.e. eventually lower prices than $340).

If Primary Wave 4 did indeed terminate at $340 as you suggest, then we have a certain type/levell of:

Wave 1  $340 - $548
Wave 2 $548 - $440
Wave 3 $440 - $???

If this were the case, then Bitcoin should easily take out the remaining resistance trendline currently at around $560 in due course.....and even if Bitcoin hits $600 or even $700 +, we could still easily be in a B wave of the primary Wave 4 correction.

Will try not to . Congratulations on your $460 recent buy-in, hope it continues to rally up a nice margin for you before you exchange fiat/btc 

we may be in a wave iv but that does not mean we are any longer in a wave c, nor does it mean we will not see 1000 soon enough. we are no longer in a descending diagonal. my analysis was right, it was a simple impulsive c.

Don't bank on it being as easy as all that.

We are in a Wave 4 correction until we aren't and whilst we are still in a Wave 4, the market is like a rattlesnake. Just look at Bitcoin history over 2014 and try and imagine yourself in a long position at various points with 'da Moon' seeming like the logical destination only for it all to turn to vapour before your eyes.

Trade with the charts and the trendlines. Don't drink Bitcoin Nutters Kool-Aid, or swallow Igor's downer pills.

Is BTC-e still a bit dodgy when it comes to depositing FIAT?  the spread between Stamp:Btc-e becoming significant?

Lads we'll be @$1000+ at sometime or other. Very Nice return for us all!  

lol    Yeah mate $50 increments always seem to form a penetration barrier. This is reflected by volume in the orderbooks on most exchanges

And it was $520 when you first started Yip Yip-ing my head to take a position, so sling yer hook.

True had opportunity, but on average.  If we'd committed to $420 median would have been up around 15%  

Its hovering just sub of 500.  Like waiting for the ball to drop or something ><
Might go north of 500 or stay where it is.  Lets see what happens.

Good man! honest. I mean if, we go comfortably around $510-525 overnight - We'll take a position. Want Bitcoin to rocket this year too, will catch before it does!

It was 420 when we first started discussing your position not 445

Had you followed my TA 101 (yes, I know I was favouring break down as opposed to break out), you would have known to go long at the same point as I did. I have been watching patiently for days on the market to decide using pretty much the same chart I posted my last TA 101A thread. As soon as I got the right signals, I took my position.

Not saying that I am totally fantastic or anything and I have only recently started to discover this stuff and the trendlines I drew up were very simple....but it works, or at least gives the investor a much better idea of when to take a position and when not to.

Despite having been bearish, I am glad Bitcoin is going up as it means I make money as I have banned myself from shorting and/or using leverage.

Forget about $454. If Bitcoin gets down there it will probably mean the break out has failed and we are correcting, in which case, you probably won't want to buy Bitcoins.

Close to call, but looks like Huobi did start pumping first (according to bitcoinwisdom). Guys possibly same whale group playing both major exchanges??


YY, could have comfortably bought-in @ $445 since we've been ready to go. So it's not quite as bad as 21%, closer to 9%? - Still that's a bit to have missed out on  

How about going and looking at the fkn charts before you go making dumb arsed comments like that?

Go on, do it! Look at the phucking charts and then try and tell me that volume on Huobi didn't take off a full 10 minutes before Bitstamp. You can't even do the most simple of diligence before you go shooting your mouth off and you say you work in 'finance'?

And I wasn't interested in any 'upside' until one of the important resistance trendlines was convincingly taken out. It was, and I am long Bitcoin since $462. I expect at least mid $500s to be reached at some point down the line.

Appreciate both your views, as always.

holding out to be a dick for a south tick  

will let Bitcoin do her thing, personal feel sub$400 is really unlikely at this point! Still happy to buy-in now, but moved order to $454.01 for now.

Mat, your figures seems totally plausible ($470 resistance). Still, have shot a little lower for now.

Got a feeling lads my median acquisition price is gonna to be $520's 

It did kick off on stamp not china ......

Being a bear you have now missed over 21% on this current movement @ 489 spot

You better hope for a retraction otherwise you win the award of "A DICK FOR A TICK "

Don't be an emotional Bull or Bear.

Follow what the charts telling you and act accordingly. Bitcoin is like a rattle snake and it will bite you if you become complacent in any outlook, or indeed attached to any particular outlook. I am not saying that it will, But Bitcoin could shoot up to $700s and then correct eventually right down to lower lows than $340. Why not? Not like these sort of price movements haven't occurred multiple times before. Sweet if you can catch them right (easier said than done), but shotgun to the head stuff if you place your chips on the wrong side of the trade and being emotionally attached is the #1 means of placing chips wrong and sticking with it.

I think the best correction that will occur in short term will be into mid $470 before the next leg up. I think Bitcoin is then almost certain to approach the primary resistance line (so about $540 ish). Beyond that, only time will tell. That is my stance just now, but as always, 2moro I might totally change my mind.

Good for you Mat  Cheers for the info regarding Huobi (I thought it all kicked-off on BStamp)

Been a polar bear for over 2 weeks now (lol) turning into Grizzly too now

Well, once again, the break out started on Huobi. After the actions of the PBOC, why is there even a market in China, never mind the fact that they are leading the market, again?

There is all manner of 'news' day in day out, so much so that I never pay attention to it. Of course, the big news today was Richard Branson investing in Bitpay. Did this have a role in todays break out? Perhaps, but it never influenced me. What influenced me to buy Bitcoins at $462 was the break out above the long term resistance trendline (5th Jan) and the fact that it was holding above it on strong volume.

The surge in volume came first on Huobi, and was followed up on Bitstamp and then everywhere else. What this has got me thinking is that since a very significant volume of Bitcoins are mined in China, what is to stop the Chinese exchanges being used simply as a manipulative tool to drive prices up on behalf of the miners, many of which may have actual stakes in the exchanges?

Whatever the case, the road looks to be open now for Bitcoin bulls up to at least the primary existing downtrend (from Dec 17th 2013) which is currently hovering around $560. If Bitcoin can breach and hold above that, then I could see prices up into $700s before any meaningful correction hits...how long it will take for these targets to be reached and tested, who knows. If this break out is to prove to be yet another counter trend rally, probably pretty quick. If this really is a trend reversal, then probably much slower and measured.

MatTheCat is bullish. For the moment.

Wouldn't suprise me if the rally effort took us to $600.

I'm still thinking a rebound to $450 is likely. (Don't ask me why, it's just a gut feeling, so probably wrong)

I've been waiting for 2 weeks now to buy-in, so in a difficult position  Bitcoin fun n' games!

We are ultra tempted to just buy-in now - lol

good point - certainly had plenty of time to sell whilst sideways and before. Thanks for posting

Thanks for that link, I had forgotten about the Chinese bitcoin summit.  I think also the people who have wanted to sell have sold, we've now had a period of base building and hopefully BTC will continue to move up.

Thanks again!

We are probably going to around $600 at least.

Coindesk have attributed today's rise to a combination of recent news.

http://www.coindesk.com/renewed-optimism-drives-bitcoin-price-high-494/

Lots of similar posts up today, and most think it's exchange/market manipulation instead.

Appears that way, first I was thinking the same (1) but now (2) seems more likely - feathered out since 03:30am GMT today.

If this is the case, I'm wondering how sustainable this will be? could be wrong but think we'll be moving back to $450. Sort of biased because I'm wanting to buy-in.

No big investor would pile in so hard and fast for a long term position.  You would feather in the buying more slowly to not drive the price up on your own buy.  The volume doesn't look like its broad-based participation from a lot of different investors.  Looks like a few big players intentionally coming in hard and fast to drive it up.

My guess is its one of two likely possibilities:

1. Some not yet public news is about to break that someone(s) with a lot of capital is buying in advance of (insider trading is perfectly fine with an unregulated market, so is every other dirty trick)
2. One of the bigger "market manipulators" is trying to create some upward momentum presumably so they can pull the rug out on others.

The Bitcoin market has been somewhat stale recently. Most experts agree we have been in a consolidation phase following the Bitcoin bubble of November-December 2013. The price per Bitcoin reached as high as $1163, and then decreased swiftly over the coming months to a low of $340 in April 2014. Since the end of April the price of Bitcoin has been relatively steady around $450, with little volatility to speak of. This is similar to the market’s behavior following the first 2 Bitcoin bubbles.


The Bitcoin market began to show signs of life yesterday afternoon and evening (U.S. time), with the price of Bitcoin slowly rising from $442 to $448. A price jump to $460 per Bitcoin occurred just before midnight, and this price held for about the next 12 hours. Around 10 am EST the price of Bitcoin began to rally, and reached $500 shortly after noon EST.


When Bitcoin’s price hit $500, that represented a price rise of $58 in about 24 hours, which is roughly 13%. This is the most significant Bitcoin rally since April 15 2014, which occurred shortly after the market reached a low of $340.

It appears this rally is already losing steam, there is abundant selling pressure and the price per Bitcoin is down to $486. It’s typical for rallies to overshoot and then correct to a more reasonable level though. Either way Bitcoin is having an excellent day, especially considering how there’s been no rallies to speak of in over a month.

Is this rally the start of a new market regime, where Bitcoin consistently rises as we approach the next bubble, or is today’s rally merely a blip on the radar? Considering the long term market trends, this could be the start of a bull market, but it’s impossible to be certain.

same here mate, was waiting for crash too  Oh well adjust we must...

By that rationale, are you guys in agreement that a rebound South is likely?

Good spot! Cheers for that - most folk on here think it's some large volume trades/market manipulation(?) on Bitstamp too.

Doesn't appear to be an epic-scale Bitcoin News driving us North.

Cheers for that Mat, so hope you had a great day at the office  

Getting very close to $500 barrier, I have moved position to $431, but that's not looking likely to get filled   We might get a proportion in at $480, what do you reckon?

Could it be a big buy order got filled on stamp?

http://www.reddit.com/r/Bitcoin/comments/2615rb/a_700_btc_sell_order_just_got_bought_on_bitstamp/
A 700 btc sell order just got bought on bitstamp, the moon is shining early today

Just manipulation, Artificial raising prices, all the same as MtGox.

Cheers man, looks like we're gonna end up doing that! Price is quickly edging towards $500 today. Any ideas what driving it?

Doesn't seem news related.

In USA the Wall Street Journal had a nice article about coinbase on Saturday.  However, today there is a negative one about "drug market probes."  So hard to say as far as news goes.

Good Luck.

Oh don't worry, I'm not waiting to make any decisions, I've been all in since $5. It's just interesting to watch.  That buy wall on stamp at 450 looks spectacular though, doesn't it? I wonder if it's real?

Which is why you wait and see what wall gets demolished before making any decisions. It will take over 1000 BTC on Stamp to take the price up just $3. If that goes, then someone somewhere has a lot of belief. On the otherhand, the Bid wall is enormous compared to the Ask wall. Whenever I see that, it usually means that Bitcoin is going down, not up.

This looks pretty weak, it was a nice breakout, but the buy wall is just ignoring it, it's really flat in the middle, all the high volume buyers are holding back.

Doppelpost

WTF are u talking about?

This is the speculation forum. If we don't get excited until Bitcoin has taken out $1200, then we will have missed some $750 of upside?

This minute upswing is the most significant thing that has happened on Bitcoin chart in 3 weeks. Long term down trend has been penetrated. Time will tell if it is a false buy signal or the real deal. If the real deal then Bitcoin should rise up to above $500 at least before meeting next resistance. any $50+ moves going, and I want in on them.


Yep...it started on Huobi....(again).

If Bitcoin can chew up the wall in between it and $465, then I am impressed and will go long. If Bitcoin crashes through the almost 3000 BTC between it and $450 (on Stamp), then I am scared. Certainly the long term down trend since Jan 5th 2014 has been punctured much more emphatically than the longer term support was breached a couple of days ago and bulls would have to be feeling encouraged right about now, but then this is what Bitcoin does before swinging in totally opposite direction.

I have buy-ins at $452. IF they are triggered, and Bitcoin falls below $450, then I will sell immediately. If they are not triggered and Bitcoin breaks through the 1500 BTC between here and $465, then I am looking at a leg up towards the primary downtrend resistance line and will look to go short/medium term long.

Every whale is waiting for a newer low but now price movement went silent for several days, someone can't wait any more and jumped in. And I believe this is only a small test for market resistance, larger movement will follow if it holds stable at higher level

I was able to compute almost the exact date that bitcoin will break one of the upper resistance. I did this around a month ago with the 12hr chart
jan.6(0:00UTC)  to mar.3 = 56days
mar.3 to apr.16 = 44days

(44/56)x44=~34.5 days
apr.16 to may20(12:00UTC) = 34.5days

And I almost got the exact value too.. I was expecting it to stop at 465 after breaking the upper resistance.. It was just a rough estimate because I just used bitcoinwisdom's cross cursor and drag it around that date.


Although I'm a bit disappointed coz the crash I was waiting for didn't happen.. Maybe dropping below 420 and staying there for a while will start to hurt someone's business... or maybe dangerous for bitcoin  

maybe a big buy, followed by robot buys?

maybe something to do about the chinese spying over US enterprises?

maybe something to do with some btc good news we had last months, but are ignored in favor of chinese banings and stuff

who knows?

I agree

I will be doing the TT tommorow for about 80k ... still waiting on another 90k to come through

it has really consolidated even to a point a work mate I had a 2$ bet that he WOULD NOT get filled at 440 over the last 4 days ... I am now 2$ richer

I would definately hedge 50% @ 440 if u can get it dude

If we are talking mid-long term like I am 440-460 its all relative

I don't understand the need to get excited at these minute upswings. Remember that Bitcoin has declined to sub 450 levels from the peak of $1,232. Let's celebrate when Bitcoin touches the peak once again. Not before that.

  How's it going mate! Still in fiat for that acquisition. You'll be pleased to hear we have moved though ($360's was looking unlikely : )

Currently @$431 still waiting.

How did your funding go - Have you moved that 150 on stamp yet?  gl btw

I hope u have taken a position @ 440 or r u still waiting for the fanatsy 330 prices ?

A whale (person with a lot of bitcoin/money) starts a buying frenzy, other buyers hop on board, then the whale dumps for a profit. Rinse and repeat. Making this potentially market manipulation by a whale (although I hope it is the beginning of a true rise)

Market manipulation.. by.. who?? Benefiting... who??

A dip after a rise is totally normal, whether or not the price continues to rise or falls down later.

Agreed, looks that way 

Looks like a Market manipulation.. It's back to 456 now.

Fair say, but think it's more news related??

BTC-e current price index @ $447.04
Stamp @ $456.74

Is it rebounding back down, and us select few over reacting ?  

http://www.youtube.com/watch?v=_Db1eRyb_7Y  ??


AFP 'World's First' Bitcoin Shop Opens In Hong Kong

If there is no news driving this then I would guess its just more manipulation of the market...  Its hard to tell which exchange is driving it because of the algorithmic trading / automatic arbitrage.  The black boxes so far have been pretty biased.  They prop the price back up on sell bursts and let it rise quickly on buy bursts. 

Basically every illegal trading scheme in traditional exchanges is fair game in Bticoin and Bitcoin is not large enough to even by mildly resistant to manipulation.
http://en.wikipedia.org/wiki/Algorithmic_trading

Very Wise 

About midday 12.18pm

Roughly 2500BTC volume on Bitstamp between 03:30-04:30 GMT

Think y3804 right, could be whale action 

It is morning in China...so probably something from there.

Sideways for ages!

Holding steady around $460 for now 

It's been under-priced for months??

True, good point! However I think it's something other than BitPay procurement?  

went up abit but keeps going down a few dollars as well.

Someone suggested that Coinotron had a 51% mining share of LTC.
Other people suggested bullish news from China.

LTC pools are still finding blocks, no bullish news from China. No one knows.

My guess is a small whale'ish correction to fit the small uptrend from May 11th, as no news really back up the pump

I wish I knew. We haven't broken much over $450 (been hovering $440) for weeks now. Maybe it has to do with the $30 million dollar investment into bitpay? I mean if they bring brick and mortar stores into the bitcoin marketplace, this is going to explode.

What's causing price increase?