Post
Topic
Board Speculation
Re: Wall Observer - MtGoxUSD wall movement tracker
by
proudhon
on 19/01/2013, 15:28:52 UTC
It's just leveling off. This RSI is just exasperated by the weekend effect combined with the sudden rise.

We may see the uptrend continue after the weekend. BitInstant revenue data would be a good way to tell what will happen.

Maybe, but is seems clear enough that the big players are trying to scare the price down to grab more coins, and they have enough weight to do it.  Selling into everything above $15 could induce panic and they could easily place themselves to buy back in the panic that follows into the $14s.  I mentioned a day or two ago that the order book would probably be flipping (i.e. asks mounting up against bids), and it appears to be happening right now.  Bids are going to get scared away.  We're at the beginning of a long down trend, I think.