Topic: Wall Observer BTC/USD - Bitcoin price movement tracking & discussion - page 33445. (Read 26462101 times)

We may be entering an September-December 2012 sort of situation.  Some panics, but the concept of "panic" is just a drop from resistance to support, and we trade in a relatively narrow range of, say, $80-$120.

I see bid depth going way up, although most of it is far below current price.  Ask depth is also very good.  This indicates a potential prolonged period of relative stability to me.

I was going to put a low of $200.16. Maybe I didn't read the question right. :p

Isn't this assuming the price is going down?

Anyone care to place a friendly wager on the "coinageddon"?

I say we all make our prediction, deposit .1 BTC with John K and the winner gets the pool.

So it will look like this

May 11, 2013 by 11:59 PM EST Coins hit a low of ______________

Rules;

Prediction must be announced here: https://bitcointalk.org/index.php?topic=199596.new#new

Nothing's gonna happen before the coinapolypse.

Has everyone gone?  Is it just me and ChartBuddy here now? 

I was half referencing 4chan and half serious.

Finally some action, let's see who comes out on top, bear or bull?

nearly half way down to 106 ...

some bear couldn't hold it any longer and took a big dump

I have no idea where the Bitcoin market is going, but I'm pretty sure it's not going to be gentle.

More TA bullshit then, for the interested:




http://stockcharts.com/school/doku.php?id=chart_school:chart_analysis:chart_patterns:symmetrical_triangle

This is all TA bullsh*t in a nutshell.

You guys and gals are driving like this:



The excitement was in the past. That triangle completion will be a big "ho hum".


The market has absorbed all the recent investment and news, so the next 3 months may well be like the last three months of 2012. A gentle track with an upward bias, depending upon the success of the v0.8.1 deadline, and the conference this month too.

Just because we all want cheap coins. It's greed. So don't worry about it, send your BTC250 to a paper wallet, and forget about the speculation subforum. You will be happier... And wealthier.

Ah. You are supernode by the way

Not a trader, have a question.

I'm long-term bullish Bitcoin and have a nice 250 BTC sum purchased recently.  Enough for me, my family, my future family, my cat, and any potential future pets and / or functional or lazy robots alike.

Wondering why so many seem to be expecting a drop in the coming days.  Not familiar with TA and learning a bit.  I understand the triangle and the convergence around the 11th.  What I don't get is why anyone would expect the price to drop, even in the near term leading to the 11th, given the following as I understand them:

-  The recent bullish move to 120+ was news of China getting priced in on spec
-  Those in China interested are slowly entering surely as they go through the traditional banking system to ultimately buy their coins (took me weeks...F U banks, all hail bitcoin)
-  The support levels of late are steadily increasing, and although ofc the resistance line is decreasing the hype is meeting the true value before we enter more hype potentially or nothing at all (ie maybe no crazy bullish movements but certainly no bearish ones if the interest in bitcoin is growing and vested interest in the market is growing)
-  Much of the money that exited during the crash is still in Gox, and likely re-entering as it seems like 100 is a thing of the past or at least it can reasonably look like it to anyone who isnt versed in trading but ready to get back in.
-  Lots of positive news as of late (vested interest growing in both public and private sectors)

Generally, I read so much about the potential exponential growth of BTC value, and sure I'm all for it, let's all be millionaires etc.  What I don't get, and again I'm not a trader so please help me wrap my head around this.  With exponential growth, will come more parabolic movements and thus convergences.  As hype cycles throughout the price, the support and resistance trends will continuously converge, but in a parabolic fashion, correct?  If so, why would we expect the price to ever go near 100 again considering the micro and macro stated above and more?

And on a somewhat separate note, with exponential gains, should come a parabolic exit line as well?  I mean, many aren't in it hoping that bitcoin takes over the world in 10 years.  Fair enough, many will spec, and have their expectations, limits etc.  Maybe some think $500/coin!!!!!! im out!  Perhaps some are waiting until $1000 etc.  My point is as the price increases exponentially, should we not see a parabolic move in the money exiting as price grows as well?  Thus hindering the arc degree the bullish movement and greatly reducing the potential for it to reach the 300k/coin or whatever levels that seem rather absurdly spread throughout the forum anytime soon?

An exception would be some sort of black swan event, where Paypal purchases 1 million coins for reserves, or a government decides to implement operation reserve currency = Bitcoin.  Barring those situations, which likely need to happen anyways for us to hit those types of valuations, and assuming a somewhat steady parabolic long-term move upwards, and given the above, why would we expect it to hit 100?

It could very well hit 100 in the next 2 minutes for all I know, just trying to reason through this to learn more.  This whole bitcoin experience has been very educational and learned a lot from this forum thank you.

P.S.  All hail bitcoin

It's a mix of Y2K and the Mayan calendar predicting the world will end in 2012. Except Coinageddon is real.

The line to watch is the red line. This tells you if the bids are rising relative to the asks, and vice versa. Looking at that image it seems pretty stable with perhaps a very slight uptrend to bids recently