Post
Topic
Board Bitcoin Discussion
Topic OP
Biggest sell signal if we go under 5.70-5.80 level
by
fastandfurious
on 09/09/2011, 08:46:16 UTC
It looks like Bitcoin is building up one of the biggest sell signals ever. We have been at this levels before and it has always rebounded. This time it looks like it will break through and because it has been a strong support level, when we are through it, it will be a massive sell signal. I think some few desperate people still trying to fight it back and have some solid buy orders (not as before when most of the buy orders disappear as soon as someone is selling in to it) at this levels, but they are fighting all the greedy miners that are selling their coins at the exchanges, right now that maximum amount is 7200 x 6 = 43000 dollars / day . The problem as I have told before is that Bitcoin is in high inflation environment, the boom came to fast and we are stuck in this environment for at least one more year. My prediction of 3-4 dollars seems to get right within a month or two.