highest volume ever - page 2. | Bitcointalksearch.org

Vandroiy

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In my book, it means that the market is small enough to go wild despite the recent experience, just by people pushing volume up. If the rally stays on exponential track and no indicator seems to justify the hike, I classify this as an echo bubble and sell at certain price points. So far, I only sold small amounts, because I always expected higher prices than just 3 USD. But that doesn't mean I'm comfortable with a doubling every few weeks. Roll Eyes

I see myself as a speculator doing his proper job, namely stepping in when prices go absurd. I'm probably not the only such person. Whoever wants to push back to 20 right away should expect some resistance -- it just doesn't seem reasonable yet. The high volume shows this resistance.

naima53

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Merit: 502

Quote

What's interesting on the weekly scale is that MACD has only begun a cross and RSI hasn't reached overbought territory yet. With respect to RSI, I guess what's sort of odd about it is that on the same daily chart the RSI corresponds nicely to the weekly chart for the price increase beginning in January 2011 and the one beginning in April 2011. In those two cases both the weekly and daily charts show RSI overbought during the same timeframe. Or, they at least show RSI hitting 70 at very close to the same time (you can actually see that the weekly chart led by a tiny bit). But right now, though the daily chart says we've been overbought since December 19th, the weekly chart has yet move out of the 50s. I don't know what that means, if anything.

I can guess only, it because in those times growth has been caused by "injection" of money (In system), and now there are more than money "remain in system". People became more careful.

proudhon

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Activity: 2198

Merit: 1311

What's interesting on the weekly scale is that MACD has only begun a cross and RSI hasn't reached overbought territory yet. With respect to RSI, I guess what's sort of odd about it is that on the same daily chart the RSI corresponds nicely to the weekly chart for the price increase beginning in January 2011 and the one beginning in April 2011. In those two cases both the weekly and daily charts show RSI overbought during the same timeframe. Or, they at least show RSI hitting 70 at very close to the same time (you can actually see that the weekly chart led by a tiny bit). But right now, though the daily chart says we've been overbought since December 19th, the weekly chart has yet move out of the 50s. I don't know what that means, if anything.

naima53

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Activity: 616

Merit: 502

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So, does that mean, that the price will continue to rise with acceleration ?
Or it indicates the top of the rally ?

I think that we somewhere here...

P4man

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Activity: 518

Merit: 500

Quote from: ArsenShnurkov on January 07, 2012, 06:51:46 AM

So, does that mean, that the price will continue to rise with acceleration ?
Or it indicates the top of the rally ?

Its quite clear what it means; the price will go up, and then down. And then up and then down again, before again going up until it goes down. Though Im not quite sure the first move, it might go down before going up. Other than that, there is no doubt.

ArsenShnurkov

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Merit: 1000

Quote from: ThomasV on January 07, 2012, 06:44:32 AM

So, does that mean, that the price will continue to rise with acceleration ?
Or it indicates the top (end) of the rally ?

ThomasV

legendary

Activity: 1896

Merit: 1353

Below is a chart of mtgox price and volume.
When looking at volume I usually use a time period of one week in order to smooth out noise.

this week the amount of BTC exchanged was close to 900k, the highest weekly volume ever.

http://bitcoincharts.com/charts/mtgoxUSD#igWeeklyztgSzm1g10zm2g25zvzl

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