I couldn't care less <- note this is what I mean, not the more common but very wrong I COULD care less.

Some nice pressure on the $124 and $125 Ask walls.

Also. I haven't been posting in this thread because, well, generally what I posted in the old WO thread would have been strictly off-topic.

Are we back to random graphics here then?

I'll be impressed when we jump the 10-day high and hold it overnight ~ $136.

But no spikes, no drops - looks healthy.

In fact this whole area is littered with resistance: $133 half the ATH, $135 the 10-day (post-crash) high, $143 a long pre-crash plateau and last but least the psychological barrier of $150.

Sustained progress might be slow but progress we can expect.

Decent wall at $120. I have an optimistic Bid just above it, I don't see it being filled any time soon

Same distance in BTC as to the $145 wall.

I've removed my Bid at $121, I have more to gain by being all-in right now. Opportunity for profit-taking when we approach $150

Been looking for a cheap entry point for 16 hours now and none has come. All the volume spikes have seen moves upwards in a slow but steady fashion.

I don't even care if I missed out on a DDoS sale, it's too much work to trade a drop right now.

Mood: bullish.

Good luck to whomever just bought my coins and I hope you've bought your wall-climbing shoes: 16K+ $2 ahead.

It's been a great little run but we need to pause for breath (and new money).

Yeah so, guess I'm back in then. A mighty effort to take down that $150 wall.

PANIC BUYING

Shoring up the $150 wall would be nice if anyone's got any cash to hand

K thanks for the knee-high wall at $150. I don't fancy $160's chances much to tell you the truth.

You want walls?

Here's one my grandmother could hop over, even in her eternal slumber.

Well I care. Just you know, trying to post wall movement updates!

Buy. Sell at $169. Wait for re-entry around $155.

OR: Buy. Hold.

Either works for me.

Not much happening. Care for a recap of recent events in non-vertigo-inducing log scale?

Oh don't be silly, how is 30-60 secs lag a DDoS attack?

Same distance to $120 as to $150. Price $127.

Oversold. Fill your shopping trolley with cheap coins and head to the checkout.

Nice drawing.

Please stop quote-quoting, edit quote posts a little eh?

In other news, we were finely-balanced in BTC Bids @ $120 and Asks @ $150 a short while ago and now:

The upside has very little shape. Market is paused, screaming, "What shall I do next?!"

I've only noticed your posts recently but it seems to me they are all well-considered, well-worded missives not at all spewed out to bump your post count.





Not.

I think a weekly chart lumps a lot of different movements together during a time when the whole thing changes every days or three.

On the short-term, I like chopsticks and am bored so I drew some on the 3 hour chart:



What will we scoop from the bowl, beef or bear steak?

I personally interpret this consolidation as bullish. The bears sold themselves out, we are learning more about the market every day while taking on new money all the time.

TLDR: all good.

Absolutely, I switched over to a faster chart in time to see a dive from $137 to $134 and thought twice about disagreeing

Meanwhile: low volume and lowish walls:



One medium-sized buy could put us at $139 in a heartbeat.

20 seconds of lag and people are panic selling at $132 while others panic buy at $139 - gotta love this

This:

Nice edit :p

Getting back off-topic: we do need a friendlier name for mBTC: millibitcoin sounds so clunky and jargonistic.

Maybe just a 'bit'? 1 Bitcoin= 1,000 bits perhaps. 3 bits for a coffee.

Yeah, something that already exists and is inclusive anyway Perhaps even skip a decimal place, go 10,000ths of a Bitcoin is an X, which in turn is equal to 10,000 Satoshi?

$140 looking far from impossible.

Profit-taking from $135 apparently.

Someone's keen.

There's no real desire to take profits below $150 it seems. Tail-off is very smooth.

Could be pressure building to break $150 and run-on with obvious targets at $160 and under $165.

How's that going for ya?

Bored? My chart is now shinier. Nothing dramatic to report:

I suspect it will fall by close today, this rise has been solid. $165 should be tougher to breach than $150.

Things are moving...

What part of "Wall Observer" am I CONSTANTLY misunderstanding?

Not days! Oh the agony :p

I don't think we'll stay in this channel for that long but I also would be fine with it

Well that one certainly broke the Bollingers.

Seems like a 2K fake Bid @$134 was popping in and out for a few minutes there.

Erm no, there has been no DDoS on Mt Gox for days now.

What you saw was Gox not being able to handle more than a few dozen simultaneous trades along with some selling off.

Can we be sure something that brief was a DDoS? Gox IS really bad at handling volume.

Just got the last of my BTC off Gox.

My first trade on BTCe was executed instantaneously. I like this.

I'll play elsewhere for now

Off-topic slightly but LTC and NMC seem to have done very well before, during and after the latest BTC dive.

This may not mean anything.

But what does it mean?! Haha, I'll be damned if I know. Oversold? Dare I make presumptions or do I just remain the neutral messenger?

Slight edit: the line was slightly off, it should be passing through $110/$11 right now but we definitely shot down through it yesterday.

Looks like I have better foresight in my Ignores than than my Buys...

If someone starts acting like a twat they will only continue to do so.

Well I sat this one out, was nice to watch. This does however change my view slightly to...not sure really. What's a cross between a bear and a bull? Yeah that. That's me. Probably.

Trust bitcoinity to lighten the mood Haha!

I'm going to dream of this. In between checking prices :p

We may be breaking out of this channel.

Then again, we may just be bouncing off the top.

Looking at the 7-day I can't see the bottom yet.

I keep waiting for a voice to boom, "PUT YOUR 3D GLASSES ON NOW!"

Yep, same here.

Though we broke up through the channel on the 12 hour, on the 3 day there's still some work to do except now it would have to break through the top of the channel only to meet resistance at $100.

I still don't call $79 the bottom before Tuesday.

On BTCe you only need to block the Trollbox once...

You're not alone in that thought...

Exactly. Once those downloaders realise what they've downloaded is not mining software, they'll be investing. We are anyway just recovering from being massively oversold and the Gox legal case.

Higher lows is the general trend.

Hey I need to update the all-time chart but here's the last one from a month ago:

All of Google's charts show today's incomplete data

That would impossible to tell as we're not finished yet!



Wednesday trade for 2013: note that 9th Jan 2013 was VERY quiet, right before launching quietly into the dominant trend of the year so far!

Edit: 9th busiest Wednesday ever in USD volume and we have 9 hours to go.

It's difficult to trade with one alone

Update: And the results are in:



6th highest US dollar volume for a Wednesday but only just tops the first couple of Wednesdays in the 5% daily rush we had.

Oh and sorry if I'm getting in the way of the action here zzzz....

I'd hesitantly offer that we are in the region of BTC's true value. And it just about has 3 figures.

Let's build a base for some long, slow but steady growth through the summer.

Next spike may be a long time coming.

Fair enough Shall I define that as a 100% spike in say a month? And say late summer? I'm digging myself deeper aren't I? I'll continue to be vague. Worked well for Nostradamus

Rampion: yes with regards to BTC volume it's WAY down but I personally think it's more relevant to look as currency volume now that there are a lot of new hands on board.

Oi. You. Yeah you!

Wake up - fingertips over the 12 hour channel

Ah diddums. Did we lose some money?

In what parallel universe do you live where rich people don't want to get richer?

Not affecting it immediately and clearly perhaps but you can be sure it does affect it.

As dull as it is, we need a period of nothing, calm, stability, no panics.

If we manage that for a week or so we can skip the whole slow demise we saw in 2011.

Most of the twats on Reddit are in for a surprise when they leave school.

Cue one hastily-removed sell order above that channel! I might miss a swing trade but I've been burnt not holding in a rally before.

Let's see where this one goes, hell even if we move that channel up a few dollars...

No short-term profit taking after a $5 hike is a good sign too. Yet.

Time frame? Day? Week? Don't pressure the poor Bitcoin, let him do his thing

But it only took a few weeks to inflate the bubble, the growth to March was sustainable.

I don't see us visiting $80 again.

I think the little fella is reaching out for my blue trendline :p

Pardonnez-moi? I prefer PNG myself but what the hey.



Reach little Bitcoin, reach.

It *is* indeed a short/mid-term outlook

Yes indeed. When we think in a linear scale $500/ $1,000 per coin seems high but the log charts bear out that a 4 figure price is only a question of time. We can't sustain another 10x rise yet but we saw that happen this year already.

Luvvly jubbly. Gunning for the 7-day high.

Moving a chunk of my coins back onto Gox, that should see me a nice gain today

I suspect I'm not alone in this, I'd see that as a bullish signal :p

I used fiat to fund my mining equipment, saw it as a better way of topping up my investment - bonus of a shiny new PC!

Fair enough, sounds like a good plan. The gift that keeps on giving. I'd have opted for 3x7950 though and kept a few BTC in change! Good luck

*shrugs* I dunno might be stretching it a bit much to call this anything.

A more reliable indicator is this: I feel lucky

Oh indeed, on the log chart the supporting trend for 2013 is largely straight and one we are slowly settling in on.

Bit out of date now but:



If something has a massive underlying trend it eventually reverts to it.

World population over the last 12,000 years (log scale):

Quote

Well there's now an important but overlooked psychological factor in play:

You can't see the crash on the 30 day chart - makes it look quite good. Would you get in if we could only see 30 days data? :p

As of close, yesterday:



Drop the blue trendline down a bit and we are still on it.

Subconsciously or otherwise, that line is in people's heads and is affecting their long-term plans.

I beg to differ. Confidence is about knowing we won't tank. Compare with 2011. We're doing pretty good.

I considered myself relatively mentally unstable until I stumbled upon certain people's posts on this forum.

It's a pity that ignore doesn't work with quotes...

I got 100,000 cheap on eBay this morning. I had to wipe the blood off them though.

Sign up for 8 free articles.

This is great news and I'm happy that my country is taking a measured response rather than an immediately hostile one (I'm looking at YOU Canada...)

I've never dodged a single penny of tax in my life and I suspect that is their main concern (tax, not me). We need close scrutiny like this to progress.

Yeah. I hope you using this forum over Tor or an anonymised VPN if you're planning to admit you trade Bitcoin.

I was pondering like, as you do, what the continuation of higher lows would look like and I concluded that the obvious next data point would be a bounce off $100. Hey presto, yesterday happened.

It looks a little early though thanks to the weak hands selling the news so I think we'll see a double bottom in the next couple of days. Every day we hold above $100 into May is a point for the bulls I believe:



Linear not log as usual bear in mind.

If BTC's market cap was several orders of magnitude larger then yes, I'd expect so.

I don't think there's much overlap between your typical altcoin speculator and your die-hard precious metal fan.

Incredibly tidy support at $114.00!

Cons of living in the UK with regards to Bitcoin:

We can't spend our BTC anywhere a la Gyft (it doesn't stop me asking the biggest gift voucher websites if they plan to do this).

We don't have a Bohemian area in a big city which has adopted Bitcoin like Berlin.

Pros: we can gamble, tax-free.

The net result of which means I have more Bitcoins

No I know much ain't happening, I just thought I'd attempt to derail the tangent.

The bottom of the channel was $114 for about an hour or so today, could have been the work of a bot working on small amounts. This was shortly after the 4K BTC or so Asl wall was set up on $114 which was bought into.

Quick, not a wall chart but considerably less off-topic than the last few pages



I don't think my blue line holds any more unless it is shifted downwards, this phase is most definitely post-crash.

A valiant attempt but $120 isn't dead yet.

I'm thinking $120 is this kind of wall:

Despite or perhaps in spite of, what others say I find it increasingly difficult to dislike you.

We're being played.



10K Bid @ 118 v 5K Ask @ 120 - nice round figures

In other news, seen the MtGox/BTCe gap lately? About $14, at one point about $17.

I'm putting my neck on the line here: bottom of $118 top of $144 by the end of the weekend :p

I'm not really a predictor bear in mind, more of a summariser of what's gone before.

There's nothing like a decent bit of well-considered speculation argued in an eloquent way.

I guess you're fresh in from the Trollbox?

+1

Paint drying tracker...

Braindump:

When was the last time you were ready to answer the question, "So what's the price of Bitcoin then?" and could answer confidently WITHOUT checking the chart?

Currency volume is at its lowest this year.

Several days of stability with dwindling volume has happened once before this year around $48, then leading to a second wind for the spike to $200+.

Me I've been mining LTC, a little FTC. Doing real world things, perhaps this is good, been getting better quality of sleep anyway

Can Bitcoin survive another hibernation period? Should we welcome it? Am I assuming too much again and is this merely the intermission before an exciting Act III?

Bid pressure is surely but slowly rising. Jump up to a channel around $127 in a couple of days?

I think you really do need to log at it in log scale at these timescales.

I also don't think referring to just the lows is TOO meaningful as you are also incorporating a very bullish phase in your trend there.

If you've seen my charts, your 1.4% figure is lower but close to my 1.862% average daily growth that was the dominant trend so far of 2013 in the run-up to the spike.

We've definitely broken that trend though and I don't think bridging the whole of 2013 into a single trend works at all any more as we've had: stability, sustainable growth, irrational exuberance, panic-selling, recovery and now stability again long enough to be seen as trends all within 6 months.

Whisper it quietly:



We just tip-toed over $125.

This is great. I didn't even know about the Nikkei slide until just now. BTC didn't miss a beat.

How did your stocks do vs BTC in the last 24 hours?

Definitely all-in, not sure we'll test double digits for some time yet, if ever.

Damn that's a statement and a half!

The slower we rise, the slower we fall. Institutional investors had better just jump on the bandwagon now if not already on.

You sold 5 days into a consolidation channel when every damn time BTC consolidates for that long on low volume, it rises?

If we touch $140 by the end of the month we'll also see $110. Not sure if the market has that much bounce to manage this!

Call me a sloth but holding above $130 by the end of the month will be a major feat.

Yeah, a sloth, a slow bull.

We're just about completing the most stable 7 day period in a long time, isn't that great?    

I think the $130 Ask wall has come down from about 20K/15K to this in the last 20 or so hours.

That spike was no doubt instigated by the transfer of most of my coins into cold storage.

Bitcoin's way of saying to me, "Oh so you don't want to trade eh?"

That wall at $130 is being eroded.

Eat them up, yum yum.

Thank you. Someone needs a spliff...

2nd May surely?!

3312 to go, someone's hungry.

Wow, this is great to watch live!

Looks like some big investors have decided to buy stealthily rather than 10,000 BTC @ market!

All of a sudden I'm checking that blue line. Nah, we couldn't could we?

I'm still cautious, if we close above $130 today I shall do some sort of merry, little dance.



Further thoughts in a thread https://bitcointalk.org/index.php?topic=215267.0 in Speculation.

Found a new blue line I like the look of very much

The divorce is happening and Bitcoin will go on to find love eventually. Just...not with the dollar!

This is so wrong. The order book is indicative of what orders people placed IN THE PAST.

Historical support and resistance lines are due what has been traded IN THE PAST.

Previous highs and lows...etc.

Like many things in life, those who can't do X, don't do X.

In this case: TA.

Or do you believe in the random walk theory?

No.

Recent events have forced me to find my voice: they've trimmed the thread page links!

This can only be good for BTC going forward

*enters the room wild-eyed, clothes ripped and gasping for air*

Did you not hear my cries for help?! I was stuck in that damn BTC-e trollbox for 4 weeks. 4 whole weeks dammit!

I felt like Stephen Hawking in a classroom full of prepubescent windowlickers, all of them trying to stab each other in the back for a $20 profit.

No amount of money is worth suffering that again, I'll trade LTC once it hits Gox and not a moment sooner.

My sanity, oh my precious sanity.

Oh, I like what you've done with the furniture...

*wanders off*

Well predicted

Me, I pulled my sell just above that. This is after all exactly the drop I've been expecting since $130.

I'm loathe to try to trade the next one though, unless it's clear it's an avalanche.

This is indeed very big. It's exactly what we were looking for, to get into the same market as MPESA. Thanks for the share.

Good summing up from Molecular (sorry, too hot to find and quote).

My perspective as a long-term bull hasn't changed at all but I agree to that the $50 mark is a the biggest resistance point we should all be looking at. It will take some slow erosion if we ever reach that low again though.

Other cryptos I've dabbled in include LTC and XPM both of which are the only other I consider possibly having a future but these are mere distractions.

Summer's here and we Brits for one have switched off for now, making the most of this rare hot weather we're having!

That's it really. Not much else happening.

I find the terms 'bull trap' and 'bear trap' meaningless. It's so obvious that you need to consider these things when day-trading. That the price might retrace after going up or down too much.

As humans, our sense of narrative drives everything we do or feel, often to the detriment of being able to objectively analyse the facts.

Basically, we like to make a nice story to sum up what's happened to make it easy to remember and learn from.

Bearing that hindrance in mind, here's my prediction for BTC for the next 90 days:

Up down up up down up down up down up down down down up up down up up up up up down sideways.

I still maintain that Bitcoin's next spike won't take two years to come around.

Buy and hold now for a VERY merry Xmas

I too am fascinated by conspiracy theories and have even been known to fashion headwear from pressed aluminium.

But hey, it could just be that people want a lot of BTC because they believe in it or at least think it's going up in value a lot in a short space of time.

But what role does Occam's Razor have in this market?

Hey Cablez, sorry I missed this.

No I haven't but I may as well do one seeing as you ask