Yup, well done.
I thought they would hit 70 but it didn't go much lower than 80.
I'm getting quite good at this :winkwink:

It might not be over though. People are still in panic mode. One 2k+ dump can make it drop right back to 80.

I ended up buying LTC instead of BTC. Although I think the profit/loss ratio is the same with either one. Just feels better having 60 LTC than 2 BTC...

I kinda want to buy some FTC for a quick scalp or even to hold for a few weeks.

Atm it doesn't really matter if you own litecoins or bitcoins...they keep roughly the same value against each other.

Btw i'm actually expecting another big dump around 100 which will make it drop to 70ish.
Phil, you still might've bought too early.
But i hope not.

Ya same here, I was hoping for a quick 10% scalp before another dump. It's steadily climbing though so I might still get that 10%

It's going to 100 too fast...it's not gonna be a happy ending i'm afraid :/

I bought 50 BTC at $82.00 and out at $97. Hoping for another drop and more volatility!

Damnit, i need to go to the gym but i can't move away from the charts...it's really exciting atm.

I think that was a good move.

Yeah nice little profit there. I don't hold them long I only play when they're volatile and there hasn't been a lot of opportunity in the last week or so. I've been using a buy trigger of a combination of volume, MACD and momentum. So far it's been pretty accurate for me.

You think its going to take another dump at $100?

Hard to say but right now even though there is some pretty good volume, both momentum and MACD are totally flat. I really should have gotten out of the last trade at $95 but I absolutely had to leave the house for a little bit and just got lucky. :2 cents:

up down up down up down i am lovin it :)

I wish there were stop orders. Can't hold while not at computer, :|

I feel your pain! I've missed more than one strong buy signal because I couldn't be around. :(

What site are you using for charts? I haven't found anything with readable charts. I usually use MACD and Slow Stoch's

I'm using a feed to Sierra Charts. Unfortunately the forum is down right now but you can get everything you need (for free) from https://bitcointalk.org/index.php?topic=6019.0 when it comes back up.

For MACD I'm using a Fast Moving Average Length of 6, Slow Moving Average Length of 19 and MACD Moving Average Length of 9 on 1 minute chart.

I like this site for charts - http://bitcoinity.org/markets

Only a matter of time before Mt Gox announces Litecoin trading :2 cents:

So does Mt Gox :1orglaugh

They have embeddable:

http://bitcoinity.org/markets/image?span=7d&size=medium

i keep forgetting there are bitcoin traders on this forum, i should of given you guys the heads up to sell your bitcoins @ 130 as thats when i first heard about the lawsuit. you bitcoin guys really need to join irc so u know whats happening ahead of the market.

I usually use Reddit, probably too slow though for breaking news?

Do you have an email address I can contact you on, I've got one or two questions if you can spare a few minutes!

:disgust

BTW what channels do you recommend? I think I'm gonna setup a completely separate computer for my Bitcoin/alt currency stuff, the more I read about the security compromises the more paranoid I become.

Nothing should delay IRC chats from being reposted immediately in blogs, reddit and tweets... and pastebins: http://pastebin.com/E9qf1qEx
And archive.org's: http://ia601700.us.archive.org/8/ite...66.docket.html
In fact, the press knew of the lawsuit before of MtGox itself:

http://bitcoinmagazine.com/coinlab-sues-mtgox/

Mark Karpeles (Mtgox) wrote to Gawker: ?We have not been served nor notified of such a lawsuit (except from your email), so it is difficult for us to comment at this point in time. We will review this within the next hours.?

This is especially gross, both the guys are in bitcoin foundation board, so bitcoin founders sue each other, plus press knows of lawsuit before of MtGox is notified. It looks not so reliable and professional, I bet bankers and economists will joke about this for ages in the news.

And fake MtGox police raid reports :)
http://ireport.cnn.com/docs/DOC-966426

anyone else familiar with fibonacci retracement? Looks like an abc down pattern big time.

Looks like the worst is over...for now at least..
It slowly wants to go up. And there is a huge wall at 90.

But when you look at the bigger picture i don't think it's over at all. Monday could be very nasty. There is very few reasons to buy atm...and all the more to sell.

I really am starting to worry if we would survive another big crash.
The last time people bought like crazy at the lower prices...this isn't happening anymore. People lost trust.

If we drop to 70 again i'm not sure how many people will be left who are brave enough to buy again in big numbers.

Then again with all the shit Bitcoin has been through the last 2 months and with all the bad news today it still is worth almost 100 bucks.
That surely means something.
I doubt many other products or stocks would survive such a thing.

It is here to stay.

$95 mini wall eaten. Still a long way to go to $100. Reaching 100 might raise confidence again.
We need some big buys. (5k coins)

It's still up over 600% since January 2013...

It's $102 and climbing again... but big walls to chew through to get back over $110.

Yup but at least the selling seems to be over.
I bet a lot of people fucked up real hard this round. Others made good money.

I just read a big Chinese tv channel did a 30 minute special on Bitcoin. Could be good.

Looks like the China news made everyone go crazy.
People are such idiots.

Now it's going up like mad but all it needs is one big dump and everyone panics again and sell their coins and it drops right back to $90.
Panic buying and panic selling. 95% lose money, 5% make big money.

Interesting post in Reddit about it

http://www.reddit.com/r/Bitcoin/comm...what_i_thought

China currently does not allow Bitcoin (or any virtual currency) to be used to purchase real goods. They can only be used for virtual goods, such as games and other online things that are not tangible items. The poster should have known this if he is really Chinese.

:2 cents:

They do love to gamble though :)

Chinese (and Russian) are the main miners and exchangers.

Go check alexa stats, bitcoin.org cn = 5%, satoshidice.com cn = 11% (second country after USA). Look mining sites.. biggest one 38% is btcguild.com , whose first country for traffic is China with 21% (USA follows with 17%); deepbit.net ru 18%, cn 14%, us 12%. Litecoin mining, biggest pool is coinotron.com : us 13%, cn 13%, ru 10%. Look for exchangers.. mtgox.com us 28%, cn 6%, ru 6%; vircurex.com us 22%, cn 18%, second country. aurumxchange.com us 14%, cn 12%, ru 11%.

Now, I think Russia potential is already expressed, while China can grow still a lot, which can kick USA in second place everywhere, potentially.

Still I don't think Chinese or Russian may use bitcoin (or litecoin) to buy things in place of fiat currency: they're into it to mine it and to make profit on exchange. They see it as a way to get dollars from stupid westerns of us,ca,au,uk,de,fr etc.
I think only westerns will use bitcoins to buy stuff, so buy bitcoins with dollars from chinese and russians who mined or traded it, and then spend that because is cool and anonymous.
It could be some may spend it with cams and this is why I follow this thing (not sure for mining or trading, I'm no chinese).

Damn!

http://sourceforge.net/projects/bitc...tes=2013-05-04

Bitcoin client downloads in China.
Yesterday 1,861
Today 23,834

oh wow franck

I was able to get a 20% gain from Friday to Saturday with LTC. I just used that profit to invest in FTC since it sank back to around where it was pre btc-e.

I think that China has their own coin now. CNC Coin.

Mike, if i were you i would invest in lps coins, uir coins and LLECIIKEOE00POL² coins if the price is right.

Almost hit 125 this morning, what do you think it could climb back up to Dirty?

Was just announced on BTC-e for trading

If there is no more bad news I'd expect 140 - 150 by Friday, I think it'll go higher than that though. If it gets to 140 I'm selling no matter what happens to the price

No idea dude.

Good find. I see China was consistently #2 all the April month already.

2013-04-29 -> 1=USA 2,003; 2=CN 1,027
2013-04-30 -> 1=USA 2,141; 2=CN 938
2013-05-01 -> 1=USA 2,746; 2=CN 954
2013-05-02 -> 1=USA 2,824; 2=CN 1,417
2013-05-03 -> 1=CN 10,350; 2=USA 2,431 (China TV...)
2013-05-04 -> 1=CN 23,834; 2=USA 2,484 (China TV peak...)
2013-05-05 -> 1=CN 4,490; 2=USA 1,235

But I think these Chinese was meant to mine coins, to make money, so bitcoin-QT is useless to them. They will run bitcoin-QT client for weeks, thinking (wrongly) they are mining and waiting for some bitcoin cent to be added to balance... which never happens... they should be told (in chinese) to go in mining pools. Instead, chinese sp4mmy sites are probably replacing dialers with mining client malwares. We already seen gaming clients including hidden mining code... the chinese guys install windows executables for everything, they are not paranoids to install as westerns... so expect massive mining trojans installed to million of chinese computers soon. Even if they have just normal gpu's, they are many and can quite sum up.

Actually if i had to guess i'd say 140 and a "crash" back to 110 so.
I can't see it crash to 70's or 80's anymore unless something really bad will happen.
This is just a wild guess based on pretty much nothing so please don't put money on anything i said.

but when it goes it he will take all the credit for anyone who made a buck LOL and he says how he is getting good at this yet he is just guessing at numbers and it is not based on anything other then the number he pulls out of his ass. I get a good laugh at his BS and the idiots who tag along behind him