Cup. Handle?
It looks to me like some in China were spooked by the low volume and slow decline in the west on Saturday. Enough was dumped when china woke up to exacerbate this and now it seems the mania is beginning to come to an end, it's been losing steam for a good few days now. We've been lucky so far, two major events (Chinese adoption, US senate approval) synergised to boost confidence, adoption and media coverage. Unless new money enters the market soon I expect the bears will have the upper hand for a while.
Tomorrow is crucial, if there's going to be a major correction I expect it then, but I can't see a 'Great Crash'. The events that prompted this rally are real and game-changing, long term is looking better than ever
I am not comfortable with any recovery that follows action on btcchina.
+1
I don't understand how are you expecting dumps with such walls.
Surely if one was liquidating rather than manipulating one would prefer there to be large walls to prevent slippage. Not every price movement is manipulation.
There's no reason why it's impossible we can keep going up, the trend needs to be broken at some point. A few weeks back lots of people were saying that a major retailer adopting bitcoin was the thing that was needed for higher prices. Now it's happened, but everyone is still reeling from China and expecting impending doom.
There's no reason why it's impossible we can keep going up, the trend needs to be broken at some point. A few weeks back lots of people were saying that a major retailer adopting bitcoin was the thing that was needed for higher prices. Now it's happened, but everyone is still reeling from China and expecting impending doom.
What happened?
Overstock will accept bitcoin, not exactly eBay or Amazon, but it's making news in the US.
It's broken 3500 in China, looks like some panic buying happening there.
