Bitcoins are subject to the same psychological market influences as anything else i.e. greed/fear, and technical analyses is just a way to translate those influences into a visual format that can help make educated predictions.  There are valid concerns that in such a thinly traded market there is the possibility of manipulation that will render some of the analyses invalid, which is why, in my opinion, it is always a wise idea to balance the technicals with the fundamentals.  Nobody, no matter how experienced, knows exactly what is going to happen in the future.  The most we can hope for is to make educated guesses with the information we have.

s3052 has come here offering his opinions on the direction of the trends in the short and long term based on whatever information he has.  He offers this service for free and asks only that you donate if you find the information valuable.  Don't like his opinions?  Think he's a scammer?  Fine, don't donate. 

The purpose of this thread, (and correct me if I'm wrong, I'm new here too) is to contribute to the best of our ability our opinions of the direction of the trend based on technical chart levels -- not to debate the merits of technical analyses itself, or to criticize personally the members who offer those opinions freely. 

It is quite easy to post a new thread.  You could even start one with the title "The Bitcoin Technical Analyses of s3052 is Crap.  Here's Why." and see if you get a favorable response.  Perhaps some will even donate to you for saving them from being scammed.  In the end the market will decide.

This whole post could have been taken 1:1 from a random forex forum thread and it would have been worded exactly like this..ideally in reply to someone pointing out a major flaw in the thread's main subject(or trading system etc pp) with rhyme and reason.
It's incredibly interesting to see that happen.

(These posts in some cases feel at times a little bit like "Oh no, he might take away $importantserviceoropportunity that might never otherwise return or exist again in this shape or form and I might not be able to profit myself if that happens!"..maybe in this case to have one more voice say "Yes sir, this BTC thing will keep on rolling higher!" or to give those who are actually doing button-push-trading atm a justification for speculation. </wild guesses>
And in some cases it's just an honest defense of something you enjoy having around.)


Anyway. I pointed out things that don't add up to me(both about the market itself as well as the poster).

To be perfectly honest, I would find it both unfair to him and me - as well as  pointless, as only people who can really actually "get it" are able to judge it with any merit to begin with - to go into detailed criticism of what is actually posted. You could likely do all sorts of things, such as e.g. accuse him of constantly hedging his bets by saying "it will of course go up, unless it goes down") or a plethora of other things, but the simple truth is that 90% of all folks throwing TA about like candy do that already(this is not to say that TA itself is worthless or technical trading not possible..I know the exact opposite is true) so it's no different here.
There's a reason for an abundance of that kind of thing. So I was trying to point out much more basic flaws/warning signs.
Anyhow.

Fans will be fans one way or another, that's a base logic that holds true in any subject or, in this case, internet forum.
Nonetheless I at least gave anyone who cared to read it the opportunity to reflect on things as they are.

I'm fine with him posting, I just personally would not "believe" any of it nor push any money around based on it, neither in his nor the market's direction..but of course we all have our own free will and our own decisions to make.
I feel like I am just rudely intruding/thread disrupting now and will bow out.

Looking at the market depth right now, I think the reversal might be beginning...
A little resistance at $8, and then it's a slide.

EDIT:  Aaand resistance is broken.  Before I got to sell.   

I would expect volume to be lower on the weekend, with less new money flowing in to MtGox. Mt Gox price increases have generally been volume driven, so no great surprise here. Wait till after Monday's trading to decide what's happening.

The volume of users might be lower, but the volume of funds seems comparable to volatile times during the week.  ($119,892 USD in the past 4 hours.)

Well a single big seller did take the price down to 7.4

But just over 24 hours ago a single big seller took the price down to 6.51 (see the MtGox 48 hour chart). Looks like a general uptrend to me.

It's back to 8.55 now anyway.

I used to be concerned seeing that kind of chart, but based on my observations of mtgox I am not too worried.  The bid/ask distribution has always been weighted towards asks for the entire existence of mtgox, and yet huge rallies have occurred.  My theory is that it is easier to get BTC to mtgox than it is to deposit USD, so some people will store a chunk of their BTC on mtgox and put in some high offers, while buyers are likely to buy BTC immediately after their deposit clears as they believe the price will rise.  This results in less standing bids.  Many sellers of BTC are miners and in no rush to sell so they just put in big orders at higher-than-market prices.

Ok, NOW it has dropped.

what made me trust S3052 is the silver prediction