the running of the bulls | Bitcointalksearch.org

zby

legendary

Activity: 1594

Merit: 1001

Quote from: arepo on April 18, 2013, 01:18:03 PM

Quote from: jl2012 on April 17, 2013, 08:02:42 PM

OK, it bearly touched 83 and bounced.

-===-

best guess: $100 is a short-term top. doesn't seem like we have the oomph right now. if $80 holds on the bounce, bull sign. otherwise this might really just be a drawn-out bulltrap. after failing to break $100 yesterday, i'm starting to fear if $50 is really the bottom...

It climbs slowly - that's better than the headless chicken rally from Friday

arepo

sr. member

Activity: 448

Merit: 250

this statement is false

Quote from: jl2012 on April 17, 2013, 08:02:42 PM

OK, it bearly touched 83 and bounced.

-===-

best guess: $100 is a short-term top. doesn't seem like we have the oomph right now. if $80 holds on the bounce, bull sign. otherwise this might really just be a drawn-out bulltrap. after failing to break $100 yesterday, i'm starting to fear if $50 is really the bottom...

jl2012

legendary

Activity: 1792

Merit: 1121

Quote from: jl2012 on April 17, 2013, 12:40:44 PM

Quote from: arepo on April 17, 2013, 10:14:37 AM

Quote from: jl2012 on April 17, 2013, 10:09:30 AM

Quote from: Dr.Steve on April 17, 2013, 09:06:28 AM

looks like the bulls are running!
95+

Failed to hit 100. Double top?

maybe. or just consolidation. bid side looks strong but ask side has also filled up with people ready to unload. tons of selling pressure, it's up to the market to decide whether or not $100 bitcoins can really be taken seriously again.

Trading as low as 84 now and seems still going down. Triangle is broken and seems not merely consolidation. The last high at around 82 could be decisive and I bet it will not hold.

It's late here. I expect to wake up with 70s.

OK, it bearly touched 83 and bounced.

notme

legendary

Activity: 1904

Merit: 1002

Quote from: wareen on April 17, 2013, 03:18:42 PM

Quote from: notme on April 17, 2013, 03:02:02 PM

Asks are 3.5X higher than before the top though.

True, there seems to be a lot of pressure from both sides.

Which is why my liquidity bot is turning nice profits.

wareen

legendary

Activity: 910

Merit: 1001

Revolutionizing Brokerage of Personal Data

Quote from: notme on April 17, 2013, 03:02:02 PM

Asks are 3.5X higher than before the top though.

True, there seems to be a lot of pressure from both sides.

notme

legendary

Activity: 1904

Merit: 1002

Quote from: wareen on April 17, 2013, 02:43:43 PM

With over 17.2 million USD we just broke the all-time-high ask sum. Quite some money still on Mtgox seems to be waiting for an entry point.

Asks are 3.5X higher than before the top though.

wareen

legendary

Activity: 910

Merit: 1001

Revolutionizing Brokerage of Personal Data

With over 17.2 million USD we just broke the all-time-high bid sum. Quite some money still on Mtgox seems to be waiting for an entry point.

Dr.Steve

newbie

Activity: 54

Merit: 0

looks like we've broken from the downside.
corrections are often over-corrections, and now, when ever there is major selling, I see buyer swooping in.

hopefully, stabilize and slowly appreciate without the hysteria of a week ago

jl2012

legendary

Activity: 1792

Merit: 1121

Quote from: arepo on April 17, 2013, 10:14:37 AM

Quote from: jl2012 on April 17, 2013, 10:09:30 AM

Quote from: Dr.Steve on April 17, 2013, 09:06:28 AM

looks like the bulls are running!
95+

Failed to hit 100. Double top?

maybe. or just consolidation. bid side looks strong but ask side has also filled up with people ready to unload. tons of selling pressure, it's up to the market to decide whether or not $100 bitcoins can really be taken seriously again.

Trading as low as 84 now and seems still going down. Triangle is broken and seems not merely consolidation. The last high at around 82 could be decisive and I bet it will not hold.

It's late here. I expect to wake up with 70s.

Frozenlock

sr. member

Activity: 434

Merit: 250

Used up in the last 4 days?

Dr.Steve

newbie

Activity: 54

Merit: 0

I don't see a lot of sell pressure. Where is the sell pressure?

Frozenlock

sr. member

Activity: 434

Merit: 250

Oh boy, 12.5k sell wall.

Edit: Aaaaaand it's gone.

XXthetimeisnowXX

sr. member

Activity: 252

Merit: 250

a wolf in sheeps clothing. suckerfish

Quote from: arepo on April 17, 2013, 06:50:41 AM

while we definitely are still in a medium-term downtrend, it seems like the volatility left in the wake of the monster knife is enough stage for a mini-rally. from a zoomed-out view it looks like a bulltrap, BUT, on the 30-min scale we are incredibly oversold.

based on the PVT:

-===-

-===-

... it seems we are on the verge of a very important breakout. the bid side looks deep, obviously encouraged by mr M's fat $70 wall, and the indicators are temporarily bullish. i think we're going up in a big way, at least to $100.

good call....bitstamp allready broke 100...just barly though.

jl2012

legendary

Activity: 1792

Merit: 1121

Quote from: arepo on April 17, 2013, 10:14:37 AM

Quote from: jl2012 on April 17, 2013, 10:09:30 AM

Quote from: Dr.Steve on April 17, 2013, 09:06:28 AM

looks like the bulls are running!
95+

Failed to hit 100. Double top?

maybe. or just consolidation. bid side looks strong but ask side has also filled up with people ready to unload. tons of selling pressure, it's up to the market to decide whether or not $100 bitcoins can really be taken seriously again.

It keeps making lower highs on the way down. The only exception is the current break out, with the last high at 82. If it fails to hit the previous major high at 102 in this wave, we should at least re-visit 82. 82 seems to be a magic number, as 2 lows and 1 high after the crash.

wobber

legendary

Activity: 1064

Merit: 1001

Quote from: arepo on April 17, 2013, 10:14:37 AM

Quote from: jl2012 on April 17, 2013, 10:09:30 AM

Quote from: Dr.Steve on April 17, 2013, 09:06:28 AM

looks like the bulls are running!
95+

Failed to hit 100. Double top?

maybe. or just consolidation. bid side looks strong but ask side has also filled up with people ready to unload. tons of selling pressure, it's up to the market to decide whether or not $100 bitcoins can really be taken seriously again.

Can you please check your PM

And please continue to analysis. Maybe start a service.

arepo

sr. member

Activity: 448

Merit: 250

this statement is false

Quote from: jl2012 on April 17, 2013, 10:09:30 AM

Quote from: Dr.Steve on April 17, 2013, 09:06:28 AM

looks like the bulls are running!
95+

Failed to hit 100. Double top?

maybe. or just consolidation. bid side looks strong but ask side has also filled up with people ready to unload. tons of selling pressure, it's up to the market to decide whether or not $100 bitcoins can really be taken seriously again.

jl2012

legendary

Activity: 1792

Merit: 1121

Quote from: Dr.Steve on April 17, 2013, 09:06:28 AM

looks like the bulls are running!
95+

Failed to hit 100. Double top?

Dr.Steve

newbie

Activity: 54

Merit: 0

looks like the bulls are running!
95+

molecular

donator

Activity: 2772

Merit: 1019

Quote from: BIGMERVE on April 17, 2013, 06:57:56 AM

I hope you're right but it doesn't look that way. It's more likely that we keep bouncing as we head gradually down. Just like the last crash it will take months before we really recover.

I don't agree. The last crash (you're referring to 2011?) might've taken months to recover, but it also took month to happen.

humanitee

hero member

Activity: 1302

Merit: 502

Quote from: crazy_rabbit on April 17, 2013, 08:22:08 AM

Quote from: BIGMERVE on April 17, 2013, 06:57:56 AM

I hope you're right but it doesn't look that way. It's more likely that we keep bouncing as we head gradually down. Just like the last crash it will take months before we really recover.

Yeah, but last crash you couldn't buy MetART with Bitcoins. Finally, PORN FOR COIN!

+1

crazy_rabbit

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Activity: 1204

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RUM AND CARROTS: A PIRATE LIFE FOR ME

Quote from: BIGMERVE on April 17, 2013, 06:57:56 AM

I hope you're right but it doesn't look that way. It's more likely that we keep bouncing as we head gradually down. Just like the last crash it will take months before we really recover.

Yeah, but last crash you couldn't buy MetART with Bitcoins. Finally, PORN FOR COIN!

arepo

sr. member

Activity: 448

Merit: 250

this statement is false

Quote from: NamelessOne on April 17, 2013, 07:25:36 AM

Yeah, I extrapolating that line also, figured we'd be in the 80s for a number of hours. It has been hitting and climbing that moving support like a staircase for over a day now with no trouble at all. It look a jump up to the 80s and I'd imagine when it lands on the support it'll continue its climb.

that's what just happened. the selling pressure is immense but we're resting delicately on that moving support. i'm really confident in this market, the bid side is showing a lot of strength for the first time in weeks.

NamelessOne

legendary

Activity: 840

Merit: 1000

Yeah, I extrapolating that line also, figured we'd be in the 80s for a number of hours. It has been hitting and climbing that moving support like a staircase for over a day now with no trouble at all. It look a jump up to the 80s and I'd imagine when it lands on the support it'll continue its climb.

arepo

sr. member

Activity: 448

Merit: 250

this statement is false

if we extrapolate the moving support...

-===-

-===-

... it seems if we don't move out of this range in 5 hours we'll collide with it, and then the market must decide.

arepo

sr. member

Activity: 448

Merit: 250

this statement is false

babby's first rally, a photo album:

-===-

=

-===-

... the last picture being the most recent.

i've heavily annotated this last one to point out some evidence for the OP's prediction. the white line in each of the images is the moving support.

the PVT in the OP shows a different triangle formation than the price, though. the yellow line in the last image indicates the top of the price triangle, the purple line demonstrates the falling volume, and the yellow circle appears to show a bullish breakout.

so the price has already 'broken out' of the smaller triangle formation, and is now struggling to make the bigger, more important move which would break its PVT out of the mid-term downtrend.

BIGMERVE

hero member

Activity: 728

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I hope you're right but it doesn't look that way. It's more likely that we keep bouncing as we head gradually down. Just like the last crash it will take months before we really recover.

Mouser

newbie

Activity: 56

Merit: 0

Tick, tock...

Tom, Dick and Harry all want bitcoins and they ain't got none (yet).

arepo

sr. member

Activity: 448

Merit: 250

this statement is false

while we definitely are still in a medium-term downtrend, it seems like the volatility left in the wake of the monster knife is enough stage for a mini-rally. from a zoomed-out view it looks like a bulltrap, BUT, on the 30-min scale we are incredibly oversold.

based on the PVT:

-===-

-===-

... it seems we are on the verge of a very important breakout. the bid side looks deep, obviously encouraged by mr M's fat $70 wall, and the indicators are temporarily bullish. i think we're going up in a big way, at least to $100.

Topic: the running of the bulls (Read 3212 times)