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Topic: Estimate the true amount of resistence around 7-7.25 (Read 2391 times)

legendary
Activity: 1904
Merit: 1002
What would a prudent guess of the true resistence
@ 6.90 - 7.25 be like?

2-3 times visible amount? More ? Less ?

If passing the resistence point fails again are we in for another round below 6?

For me the market is really a bit hot now. Really would hate to burn my fingers.

As I write this depth at $7.25 is about $156,000. I currently estimate that it would actually take closer to $400,000 to reach that level.

We're at about $400,000 volume since this prediction.... Quite a bit of the wall has been eaten, but most of it is still there.  It will be tough to punch through unless most of those asks are dropped.
sr. member
Activity: 392
Merit: 250
Interesting Trading-in-range sort of day. We have been steady in the $6.90 range since early morning here, with one minor spike past $7. 

Testing those $7.20 waters and coming back down. I like where we are. 

Still not holding btc over-night here, as per what has happened few times last week.



I'm sure people are happy to buy them from you at night and sell them back in the morning for more fiat Wink.

Yes my gift to the BTC community, and I sleep easy too.
legendary
Activity: 1904
Merit: 1002
Interesting Trading-in-range sort of day. We have been steady in the $6.90 range since early morning here, with one minor spike past $7. 

Testing those $7.20 waters and coming back down. I like where we are. 

Still not holding btc over-night here, as per what has happened few times last week.



I'm sure people are happy to buy them from you at night and sell them back in the morning for more fiat Wink.
sr. member
Activity: 392
Merit: 250
Interesting Trading-in-range sort of day. We have been steady in the $6.90 range since early morning here, with one minor spike past $7. 

Testing those $7.20 waters and coming back down. I like where we are. 

Still not holding btc over-night here, as per what has happened few times last week.

sr. member
Activity: 392
Merit: 250
I don't know what the "true" resistance is, but I won't be selling either.  I have sell orders placed higher, however, as I think we'll be punching through soon enough.

OMG!!!!!! Im investing heavily due to this comment...  no joke..

LOL... proudhon finally makes a definitively bullish statement.

OMG, up is down, black is white. What next, Edward becomes a bitcoin fanboy?

After that Nagel returns talking about how he only talked shit on Bitcoin for 5 months in order to buy sub $3 bitcoins and moves a couple coins out of his 30,000 coin address to prove it. Then our sun turns into a red giant.

30K Bitcoins.. holy cow!  I would be happy with just one thousand. Oh well, slowly but surely, one digital crypto-nugget at a time.
legendary
Activity: 1764
Merit: 1002
What would a prudent guess of the true resistence
@ 6.90 - 7.25 be like?

2-3 times visible amount? More ? Less ?

If passing the resistence point fails again are we in for another round below 6?

For me the market is really a bit hot now. Really would hate to burn my fingers.

As I write this depth at $7.25 is about $156,000. I currently estimate that it would actually take closer to $400,000 to reach that level.

this analysis assumes that the asks stay put in a ramp.  they rarely do.

depending on how fast and to what extent sellers pull down their orders we could be at $9 quickly and w/o much money required.  it all depends on sentiment.
legendary
Activity: 1904
Merit: 1002
I don't think saying it will take $1.5 million is overly bullish.  I'm long, but I'm already in the black.  I might help rebuke 7.2 if we move too quick and take my good profits instead of ridiculous profits.  If we succeed, I can rebuy on the dip.
sr. member
Activity: 392
Merit: 250
I need a 1000 milligrams of Cautiousness to fight off this Bullish Contagion...

That and Jessi's Bitcoin Alert Tool.  Smiley
legendary
Activity: 3066
Merit: 1147
The revolution will be monetized!
I don't know what the "true" resistance is, but I won't be selling either.  I have sell orders placed higher, however, as I think we'll be punching through soon enough.

OMG!!!!!! Im investing heavily due to this comment...  no joke..

LOL... proudhon finally makes a definitively bullish statement.

OMG, up is down, black is white. What next, Edward becomes a bitcoin fanboy?
legendary
Activity: 1904
Merit: 1002
So what do you think then?

Do we need 200k Dollar or more towards 500k Dollar to cross the zone?

Ozing resilience...... ozing resilience...... bitcoin shure is.

I believe the figure is closer to 1.5 million.  It may take a few days, but when it happens you'll know.
hero member
Activity: 784
Merit: 1000
bitcoin hundred-aire
I don't know what the "true" resistance is, but I won't be selling either.  I have sell orders placed higher, however, as I think we'll be punching through soon enough.

OMG!!!!!! Im investing heavily due to this comment...  no joke..

LOL... proudhon finally makes a definitively bullish statement.
zby
legendary
Activity: 1592
Merit: 1001
So what do you think then?

Do we need 200k Dollar or more towards 500k Dollar to cross the zone?

Ozing resilience...... ozing resilience...... bitcoin shure is.

Ha ha - only tell us when you do it!
hero member
Activity: 770
Merit: 500
You're fat, because you dont have any pics on FB
I don't know what the "true" resistance is, but I won't be selling either.  I have sell orders placed higher, however, as I think we'll be punching through soon enough.

OMG!!!!!! Im investing heavily due to this comment...  no joke..
sr. member
Activity: 476
Merit: 250
The first is by definition not flawed.
So what do you think then?

Do we need 200k Dollar or more towards 500k Dollar to cross the zone?

Ozing resilience...... ozing resilience...... bitcoin shure is.
legendary
Activity: 1904
Merit: 1002
I find Chodpaba's graphs informative.

https://bitcointalk.org/index.php?topic=22685.920

And yes, I also believe we will be at $9 once we punch through the resistance at 7.  7-ate-9.
sr. member
Activity: 392
Merit: 250
What would a prudent guess of the true resistence
@ 6.90 - 7.25 be like?

2-3 times visible amount? More ? Less ?

If passing the resistence point fails again are we in for another round below 6?

For me the market is really a bit hot now. Really would hate to burn my fingers.


I was selling at 7.10 - 7.20 last time and I do not plan to do that this time.

Ditto.  We are oozing resilience. I think the bulls are rearing to go.
sr. member
Activity: 392
Merit: 250
There is a huge amount of resistance.  That's great... it dampens the market and prohibits a bubble from forming, but when we break through it, we'll coast up to $9 Smiley

My indicators are pointing this way.
legendary
Activity: 2198
Merit: 1311
I don't know what the "true" resistance is, but I won't be selling either.  I have sell orders placed higher, however, as I think we'll be punching through soon enough.
zby
legendary
Activity: 1592
Merit: 1001
What would a prudent guess of the true resistence
@ 6.90 - 7.25 be like?

2-3 times visible amount? More ? Less ?

If passing the resistence point fails again are we in for another round below 6?

For me the market is really a bit hot now. Really would hate to burn my fingers.


I was selling at 7.10 - 7.20 last time and I do not plan to do that this time.
hero member
Activity: 784
Merit: 1000
bitcoin hundred-aire
There is a huge amount of resistance.  That's great... it dampens the market and prohibits a bubble from forming, but when we break through it, we'll coast up to $9 Smiley
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