Post
Topic
Board Speculation (Altcoins)
Re: [XMR] Monero Speculation
by
jehst
on 06/03/2015, 10:20:09 UTC
There is a wall of 200 btc wall at 0.00194....

Aaaaand... it's gone.

Instead, there is 200 btc buy support above the yesterday's low  Grin

It is divived into two pieaces.
The first one is at 192'ish and the rest is on 194.
This might be for real since it has been broken into pieces. Manipulative walls are in one piece, real walls are cut into pieces.

Why wouldn't it be real? As Risto has pointed out, there are accumulation zones. People have been accumulating at 90-190 for months. And supporting the price in the process. And now if the market wants to go higher, they need to pay the toll. After 194, the price will probably rip upwards (with big crashes and corrections to follow).

Then, when all the .004-average accumulators have a solid profit, there will be yet another toll. After .005, the price can truly rip because there will be little resistance. Greed and FOMO can send the price anywhere at that point.