Topic: The Rocket - page 2. (Read 3889 times)

Here comes the bull trap.  Watch it work.  Enjoy.

$5.5 has been broken... the time of the rocket is far from over.

Rocket era is over im affraid. 

You seem to be assuming there were more bullish speculators than bearish speculators.

I'm not sad (or surprised) Bitcoinica went out the way they did. I can't tell you how nice it is on my brain not to see a million posts/comments about starfish.

I expect to see serious resistance around $6 if we make it there anytime soon.  

I remember watching Mt. Gox Live the last time the price was hovering around $6.  Some guy had bought over 10,000 BTC at just about $6 and had placed a sell wall for it all at $6.05 shortly thereafter because the price started to drop.  That wall at ~$6.05 remained for quite a while before it was taken down prior to this gradual move upwards.  I still have seen no evidence that this guy ever sold off his 10,000 BTC, and my guess is that he's waiting for an opportunity to get back to break-even or get into the green.

However, a counter to the above theory is the idea that this same individual may have purchased many coins around $5 as a hedge and may already be back in the green if $6 is reached.

But regardless of this individual, the market is different today.  We don't see massive dumps that send the price of BTC spiraling anymore, and likewise I don't imagine that a crapload of buying will send any rocket soaring anywhere.  Speculation aside, I still contend there's no good reason for the price to increase radically at this point, though there may be good reason to speculate.  That being said, I also wouldn't be surprised to see $7 again in the short-term as I wouldn't consider a jump from $5 to $7 "radical."

But overall, market seems very bullish.

I'm predicting this is a false swing. With Bitcoinica gone there's far less trading with leverage. The manipulators lost both their tools and funds when Bitcoinica went belly up. We won't be hitting 6 for awhile.

ask wall?  Those don't exist anymore

what a pathetic little ask wall.

is that a pirate playing with a bubble?

Economics noob here. But it seems like we all chant when the price goes up. Alright, so time to sell. But why aren't the people who buy them groan when the price goes up? I assume there isn't an equal amount of buyers as there are sellers on this forum?

Kinda nice after those long months at 5.0-5.10$

So!

It is beginning....or yet another false signal?

 

It would be nice, but something will happen to rain on the parade, it is inevitable.

Depends on if this rocket was made by North Koreans or not.

Is taking off again!

$200k to $6 atm.  Haven't seen that in months.  In fact, the entire orderbook is looking like December...
I wonder where this one stops.  $10 anyone?