Post
Topic
Board Speculation
Re: Wall Observer - MtGoxUSD wall movement tracker
by
TomRado
on 29/03/2013, 11:12:26 UTC
A lot of the fresh money coming in is doing so because it's expecting the price to rise. If we will see a severe weekend dip during the next days, reflected in a loss of a few % over the course of several days, maybe several days with a loss over 24h, this could initiate a psychological trend reversal. I wouldn't expect a lot of the greedy risk-taking money to still be attracted to bitcoins then in the short term future. We've seen dips corrected quickly before, all very bullish, this time a psychological barrier of 100$ is added to the equation. As I don't have time to dedicate to watching curves the next few days I decided to stay out for now. I'm a tad sad about it since i expect there's going to be a lot of money made in daytrading the coming days, but sometimes family comes first.

It was a nice ride so far and I hope the development will continue to exceed your expectations.