Topic: Resistance at Current Level Evaporated (Read 1199 times)
6.52800
Back to 6.53 =D
I think you are forgetting about the effect bitcoinica has on the market. When the market swings to far in any one direction the position of those opposite to that of the market get liquidated and push it further.
As for resistance evaporating its currently 1000BTC to 6.46, our next stop.
As for resistance evaporating its currently 1000BTC to 6.46, our next stop.
Hate to say I told you so. Oh wait, I don't! LOL
Honestly, I don't think its bears or bulls. It is some people with a ton of money who just push the price around when they feel like it for whatever reason, then it stabilizes at whatever new price they have chosen.
Totally agreed. There is no bulls or bear in this market, sorry to pop your cherry, but the guy above speaks the truth. A small group of millionaires are manipulating the market. They are taking turns taking profits and you can easily tell because every sell off comes a rally, rinse and repeat.
You guys got it.
Don't tell the folks having all the fun talking about free markets, Elliott Waves, supply and demand, etc. This is good practice for them in always having an explanation ready even if for no one other than themselves. Not so much for the Wavers though, the game they play is well known for making it trivially easy to fit whatever "patterns" one want to any set of data points, and to refit completely divergent variations at the drop of a new sample point
SELL EVERYTHING means BUY EVERYTHING, ZOMG THE MARKET IS CRASHING means ZOMG THE PRICE IS GONNA GO UP.
Completely agree
SELL EVERYTHING means BUY EVERYTHING, ZOMG THE MARKET IS CRASHING means ZOMG THE PRICE IS GONNA GO UP.
I think you are forgetting about the effect bitcoinica has on the market. When the market swings to far in any one direction the position of those opposite to that of the market get liquidated and push it further.
As for resistance evaporating its currently 1000BTC to 6.46, our next stop.
As for resistance evaporating its currently 1000BTC to 6.46, our next stop.
Honestly, I don't think its bears or bulls. It is some people with a ton of money who just push the price around when they feel like it for whatever reason, then it stabilizes at whatever new price they have chosen.
Totally agreed. There is no bulls or bear in this market, sorry to pop your cherry, but the guy above speaks the truth. A small group of millionaires are manipulating the market. They are taking turns taking profits and you can easily tell because every sell off comes a rally, rinse and repeat.
Honestly, I don't think its bears or bulls. It is some people with a ton of money who just push the price around when they feel like it for whatever reason, then it stabilizes at whatever new price they have chosen.
And the cliffs of dover have melted into a gentle rolling hill on the ask walls, once again.
Bingo! 
After all this bearish activity it appears that most recent rally has pulled out all the bears attempting to push the price down. There is a lot of posturing right now but it appears that we are headed back up short term. Everyone yelling that it was going to crash is a sign that we were headed up. The next few hours will be key.
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