We're probably entering a decline that will last for days if not weeks.
As much of a bull that I am...i tend to agree with this.
Take some profit guys. Just saying. Or be patient.
At last common sense from smoothie
Topic: The Bear Market is officially...OFF?!? - page 6. (Read 29273 times)
As much of a bull that I am...i tend to agree with this.
Take some profit guys. Just saying. Or be patient.
At last common sense from smoothie
We're probably entering a decline that will last for days if not weeks.
As much of a bull that I am...i tend to agree with this.
Take some profit guys. Just saying. Or be patient.
We're probably entering a decline that will last for days if not weeks.
EDIT: By the way, didn't the crash started as soon as the first users reported about Dwolla's email?
Just about the same time yes.
That is pretty fast reaction time, 50% of the drop occurred in less then 15min, given the steady rise the last few days... Even it was a reaction to the news, only a few dropped big stacks of coin and the lag took over for the other 50%.
I still think it is too early to tell, a 10% drop isn't insane, but granted the news of the Dwolla/mtGox is getting worse... just saw that article that quoted this is probably the US saying enough is enough, if that IS the case then we are all doomed!
EDIT: I will add the volume looks to be returned(ing they are too small to tell lol) to normal.
10 seconds to login to mtgox
5 second to set price
1 second to press sell button
16 seconds so yeah it can be fast.
EDIT: By the way, didn't the crash started as soon as the first users reported about Dwolla's email?
Just about the same time yes.
That is pretty fast reaction time, 50% of the drop occurred in less then 15min, given the steady rise the last few days... Even it was a reaction to the news, only a few dropped big stacks of coin and the lag took over for the other 50%.
I still think it is too early to tell, a 10% drop isn't insane, but granted the news of the Dwolla/mtGox is getting worse... just saw that article that quoted this is probably the US saying enough is enough, if that IS the case then we are all doomed!
EDIT: I will add the volume looks to be returned(ing they are too small to tell lol) to normal.
Mystery solved, then....it's a panic sell from bad news.
This was just a single/group sell off... Fueled by lag and insanity...
I don't know, I have trouble believing that this was some sort of coordinated selloff. I think a small downward move triggered a panic sell, and the dwolla news probably didn't help matters, either. The market is on edge right now, and I think small moves can get over exaggerated because of the uncertainty.
For now it still looks like there is heavy downward pressure to me. I dont know that we are recovering just yet.
(1 day / 5 min, closing price *live chart*)
I guess the Dwolla situation is the type of FUD that could scare some overinvested folks. "First governamental action against Bitcoin" could be a headline soon (really don't know it, let's see how this unfolds).
EDIT: By the way, didn't the crash started as soon as the first users reported about Dwolla's email?
Just about the same time yes.
This was just a single/group sell off... Fueled by lag and insanity...
I don't know, I have trouble believing that this was some sort of coordinated selloff. I think a small downward move triggered a panic sell, and the dwolla news probably didn't help matters, either. The market is on edge right now, and I think small moves can get over exaggerated because of the uncertainty.
For now it still looks like there is heavy downward pressure to me. I dont know that we are recovering just yet.
(1 day / 5 min, closing price *live chart*)
I guess the Dwolla situation is the type of FUD that could scare some overinvested folks. "First governamental action against Bitcoin" could be a headline soon (really don't know it, let's see how this unfolds).
EDIT: By the way, didn't the crash started as soon as the first users reported about Dwolla's email?
This was just a single/group sell off... Fueled by lag and insanity...
I don't know, I have trouble believing that this was some sort of coordinated selloff. I think a small downward move triggered a panic sell, and the Dwolla/Homeland Security news probably didn't help matters, either. The market is on edge right now, and I think small moves can get over exaggerated because of the uncertainty.
For now it still looks like there is heavy downward pressure to me. I dont know that we are recovering just yet.
(2 day / 5 min, closing price *live chart*)
This was just a single/group sell off... Fueled by lag and insanity... Already it is recovering.
Last chance to get out while in the triple digits.
This was just a single/group sell off... Fueled by lag and insanity... Already it is recovering. The last few days have had a consistent moving support up (though a resistance at 120, which probably spurred the sell off).
If I were to guess its the same people that boosted the price to 122 a few days back, they missed their 122 opportunity, saw it was bouncing off the 120 resistance and decided to cash out. And as usual, everyone got gox'ed but at least it was only a min or so lag.
Now could this action cause a trend down, sure... but it is too short of a timeframe to tell considering the last few days have been pretty "slow" to begin with.
If I were to guess its the same people that boosted the price to 122 a few days back, they missed their 122 opportunity, saw it was bouncing off the 120 resistance and decided to cash out. And as usual, everyone got gox'ed but at least it was only a min or so lag.
Now could this action cause a trend down, sure... but it is too short of a timeframe to tell considering the last few days have been pretty "slow" to begin with.
Next support @97.5
We are going down.
The market didn't know where to go, but now there's an obvious direction.
The market didn't know where to go, but now there's an obvious direction.
Don't be so sure, the bitcoin market likes traps.
Looks like we finally got a little bit of movement again. No test of old lows so far, but the day isn't over yet.
Thoughts?
Thoughts?
The bull case still has some ground to stand on, but they need to hold it here. Daily RSI bouncing below 50 may make that difficult.
price to go down to 70ish!
We are going down.
The market didn't know where to go, but now there's an obvious direction.
The market didn't know where to go, but now there's an obvious direction.
Looks like we finally got a little bit of movement again. No test of old lows so far, but the day isn't over yet.
Thoughts?
Thoughts?
Both bears and bulls are right since we are in a range market 
on a more constructive (kind of) note:
We have invalidated pretty much all trends / triangles we can draw and are smurfing along beyond the apex of the grand correction triangle.
What does this mean? Which TA constructs can be used now?
I feel lost.
We have invalidated pretty much all trends / triangles we can draw and are smurfing along beyond the apex of the grand correction triangle.
What does this mean? Which TA constructs can be used now?
I feel lost.
Coiling - each and every time we go horizontal for awhile, at some point we go up.
Not every time - remember July 2011?
Anyhow, i see many differences between today and 2011. Sure, no more parabolic growth, so a lot of the "get rich quick" wannabe speculators might have lost interest. Others are waiting for cheaper coins, but I believe the majority of investors know that Bitcoin is healthier than ever - this did not happen in 2011.
I'm ready (and hoping) for cheaper coins, but IMHO $50 was the bottom for this year - so no slow and deep bubble collapse. Mid term we are going up.
Coiling - each and every time we go horizontal for awhile, at some point we go up.
---> Date Registered: July 11, 2012, 02:38:04 AM
That explains a lot.
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