good work on the short
yes I thought this seemed to be a critical moment and another turning point as it consolidates.
My question was kind of related to the following: If the talk is to be believed then the drop through 140 today would perhaps be in a large part to do with manipulators (I haven't seen evidence and I wasn't watching the charts at the time but I wouldn't discount it). So, that would perhaps imply that the fairly quick bounce back to ~$140 meant that's where the true market sentiment lies as a support? This is uneducated speculation on my part, but that's why I was wondering about the current resting at around $140.
Also trying to decide on a short term re-entry point, hence asking for other opinions. But it's not a good time to decide it seems. That said I'm still feeling mildy bullish after looking at google trends, hearing gox queue and fiat news and hearing the "china overtakes US on bitcoin client downloads" news today.
time will tell.
Thanks
there are probably a few large players who attempt to 'manipulate' the market, but their actions are as useful as an eagle's wings to a hurricane. we're butterflies, they're birds of prey
what i mean to say is -- a single manipulator acting alone doesn't make money, it's only the 'pigs' who panic sell that make the manipulator money. that being said, Mr M didn't cause the market crash today, weak hands did.
for the short-term, if $120 holds, worst case we may enter into a period of sideways consolidation around this price point, but down seems far-fetched. the cool thing about bitcoin -- especially now -- is that the price doesn't go down unless there's serious selling, because deflation is kicking in. sideways consolidation is bullish in the bitcoin world!
if $120 doesn't hold, well, that is a scary situation. the not-cool thing about bitcoin is that most hands are weak hands (daytraders, other speculators), who are -- as was observed today -- alternately greedy, and panicky, and are always very manipulable.
oh well.
--arepo
i need to go to bed soon, too, it's been a long day. but for now:
