80 - 90 What's Happening? | Bitcointalksearch.org

Peter Lambert

hero member

Activity: 756

Merit: 500

It's all fun and games until somebody loses an eye

Quote from: SgtSpike on April 17, 2013, 03:39:14 PM

Quote from: Peter Lambert on April 17, 2013, 03:36:20 PM

Quote from: SAQ on April 17, 2013, 03:15:59 PM

The price seems quite stable for the last few hours, 80 - 90. What does brief stability mean in a market like bitcoins?

It seems to me that there's a massive wall at 70 and there's a massive wall at 95. Unless we get some big bad or good news we might hang around 70 something to 90 for a while, but why 70 - 90?

What the are you talking about? A 10% range is not stable, and a few hours is nothing.

In the news today Apple shares are crashing today, they are down 5%. Look at that again, 5%. Whatever you want to call the bitcoin market, stable is not the right word.

It's certainly stable compared to the last few days, though, which I believe is the point he was trying to make.

But even when the price is moving >100% in a day there are a couple hours at a time when the price remains "relatively stable". If the price is not moving right now it just means that the graph you are looking at is lagging behind the market trend.

SgtSpike

legendary

Activity: 1400

Merit: 1005

Quote from: Peter Lambert on April 17, 2013, 03:36:20 PM

Quote from: SAQ on April 17, 2013, 03:15:59 PM

The price seems quite stable for the last few hours, 80 - 90. What does brief stability mean in a market like bitcoins?

It seems to me that there's a massive wall at 70 and there's a massive wall at 95. Unless we get some big bad or good news we might hang around 70 something to 90 for a while, but why 70 - 90?

What the are you talking about? A 10% range is not stable, and a few hours is nothing.

In the news today Apple shares are crashing today, they are down 5%. Look at that again, 5%. Whatever you want to call the bitcoin market, stable is not the right word.

It's certainly stable compared to the last few days, though, which I believe is the point he was trying to make.

Peter Lambert

hero member

Activity: 756

Merit: 500

It's all fun and games until somebody loses an eye

Quote from: SAQ on April 17, 2013, 03:15:59 PM

The price seems quite stable for the last few hours, 80 - 90. What does brief stability mean in a market like bitcoins?

It seems to me that there's a massive wall at 70 and there's a massive wall at 95. Unless we get some big bad or good news we might hang around 70 something to 90 for a while, but why 70 - 90?

What the are you talking about? A 10% range is not stable, and a few hours is nothing.

In the news today Apple shares are crashing today, they are down 5%. Look at that again, 5%. Whatever you want to call the bitcoin market, stable is not the right word.

NamelessOne

legendary

Activity: 840

Merit: 1000

There has been a rising support line climbing ever since the 50 bottom. The market got a bit excited earlier today and shot up to 98$ when the line was still at like $83, thus the market slowly drifted back down to the line in the mid 80s. The price is how hovering around there.

ElectricMucus

legendary

Activity: 1666

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Marketing manager - GO MP

The price is stable in the 70-80 range period will be even better.

Richy_T

legendary

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1RichyTrEwPYjZSeAYxeiFBNnKC9UjC5k

Stability in the past has meant pressure building for a rally. Not sure what it means now though. I'm sitting tight for now.

notme

legendary

Activity: 1904

Merit: 1002

Quote from: fishface on April 17, 2013, 03:27:02 PM

Quote from: Aozora21 on April 17, 2013, 03:26:04 PM

with the prices swinging wildly +-40% in the matter of hours, its kind of difficult not to pay attention to it

Contraction follows expansion, and vice versa. After big crashes/rallies, consolidation is perfectly normal.

Exactly. The market is strongly conflicted about direction. Adding liquidity if you are willing to take the risk is the only way to speed up the process.

wareen

legendary

Activity: 910

Merit: 1001

Revolutionizing Brokerage of Personal Data

Quote from: SAQ on April 17, 2013, 03:15:59 PM

The price seems quite stable for the last few hours, 80 - 90.

Bitcoin: redefining stability since 2009!

fishface

full member

Activity: 223

Merit: 100

Quote from: Aozora21 on April 17, 2013, 03:26:04 PM

with the prices swinging wildly +-40% in the matter of hours, its kind of difficult not to pay attention to it

Contraction follows expansion, and vice versa. After big crashes/rallies, consolidation is perfectly normal.

Aozora21

newbie

Activity: 42

Merit: 0

with the prices swinging wildly +-40% in the matter of hours, its kind of difficult not to pay attention to it

Wuji

newbie

Activity: 56

Merit: 0

Quote from: SAQ on April 17, 2013, 03:15:59 PM

The price seems quite stable for the last few hours, 80 - 90. What does brief stability mean in a market like bitcoins?

It seems to me that there's a massive wall at 70 and there's a massive wall at 95. Unless we get some big bad or good news we might hang around 70 something to 90 for a while, but why 70 - 90?

My guess is that over $90 is currently the psychological barrier for bears and below $70 looks like a value for bulls. It may take weeks of this back and forth as people are cashing in and out. I see nothing to suggest another huge surge so far which is why I think we will continue to slowly trend down now as interest wanes.

If it helps look at things in days and weeks and stop paying attention to hour by hour. Cheesy

RodeoX

legendary

Activity: 3066

Merit: 1147

The revolution will be monetized!

Quote from: checkers6676 on April 17, 2013, 03:19:33 PM

Mr. Goxachev, tear down this wall!

That made me lol. Cheesy

epetroel

sr. member

Activity: 431

Merit: 251

I get the feeling there are a few big investors playing games with the market right now, but that's just my feeling based on the activity I'm seeing.

Most of the small trades seem to be sideways punctuated by occasional very large buys and sells.

checkers6676

full member

Activity: 128

Merit: 100

Mr. Goxachev, tear down this wall!

fishface

full member

Activity: 223

Merit: 100

Relevant moving averages knotting up on multiple time frames.

Previous support around 87-89 acting as significant resistance.

Traders trading the range.

Investors waiting for indication of longer-term direction.

SAQ

newbie

Activity: 56

Merit: 0

The price seems quite stable for the last few hours, 80 - 90. What does brief stability mean in a market like bitcoins?

It seems to me that there's a massive wall at 70 and there's a massive wall at 95. Unless we get some big bad or good news we might hang around 70 something to 90 for a while, but why 70 - 90?

Topic: 80 - 90 What's Happening? (Read 1367 times)