We've seen in April/May/June that walls that walls of any size which pop up in front of a downtrend on low volume will be filled. At the peak of the second bulltrap in may on gox there was an 8,000 btc wall at $127 which popped up after the trend had already reversed from $136. It was filled along with about 30K of orders beneath it in a giant market order, and the downtrend proceeded to $66. On the way down there were also a variety of 5K - 20K btc walls that came into the play.

The walls are of course a bullish sign that there is demand from real investors and this may be a fair price. However, people are mistaken to think that it will stop the train.

Wow, some of the posts in this thread are a celebration to fiscal irresponsibility.

yawn

I'm pretty pleased with the stability tbh. We could well hit 550 tomorrow but it looks like we'll settle at 650 come monday. I don't expect much volume over christmas and once we get back over 800 we'll have officially shaken off china. We'll probably have a lot of panics as china exists but we'll be 800 into the new year regardless

I hear what you are saying but gas prices are the most manipulated commodity ever. bitcoin is heavily manipulated but not to the same extent i.e. there is no real opec in our scenario.  We could say the 'bit' in 'bitcoin' is because it's a bit like oil, a bit like gold, a bit like whatever.

I suppose the gold/oil connection is scarcity/difficulty. I'd argue bitcoin is closer to gold than oil. Gold and bitcoin have arguable intrinsic value but it's scarcity that makes them valuable. Same for diamonds/silver etc. Yes you can do some stuff, make jewelry and electronic components but it's manly about a store of wealth.

Oil is different. Oil has a real intrinsic value. It is fuel. A real difficultly(cost) to mine plus it has a cartel limiting the supply.

talking out loud tbh lol

I like that - a bit like oil, a bit like gold. lol

I meant the reaction from market manipulation instead of actual intrinsic value. Bitcoin is highly manipulated by a few power players, so is crude oil.

On our way to 400s - by Sunday evening.
Now, it's either  or    , depending where your money is.