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Topic: Wall Observer BTC/USD - Bitcoin price movement tracking & discussion - page 33688. (Read 26720873 times)

full member
Activity: 224
Merit: 100
123.04K BTC can be bought for 24.25M until price goes above $1219

Even if somebody did buy it, it would never stay above 1000.

More supply would quickly become available at a much lower price.
legendary
Activity: 2492
Merit: 1491
LEALANA Bitcoin Grim Reaper
A candy for the bulls:



Wonder how much lag would be created on Gox with a 100k BTC market order. Over/under 3 days? I'm going over.  Grin

You know what is messed up is that a 100k BTC buy order should be pretty much instant. What follows it is the part that may cause lag but I always find it odd that when the market moves really quickly in either direction gox lags like fuck. It is embarassing.
sr. member
Activity: 378
Merit: 250
Born to chew bubble gum and kick ass
sr. member
Activity: 252
Merit: 250

That's just it, if one whale pulls out, crash. One comes in rally. There's no depth. 

legendary
Activity: 2097
Merit: 1071
I just don't see the price dropping below $100 ever again.

rpietila also said his recently. I think it went to the $90's the very next day.

It recovered quickly only to stagnate and leave us where we are right now.
sr. member
Activity: 350
Merit: 250
This account was recently hacked
123.04K BTC can be bought for 24.25M until price goes above $1219
Hang on, I'm sure I've got a spare $24,250,000 around here somewhere.....
hero member
Activity: 658
Merit: 500
Granted, but I do not see any reason for it to crash again, any time soon, there's too many wanting to buy at a lower price, like you. Some of them will get impatient, or risk missing the train. From a TA point of view, it looks bullish. That previous chart looked bearish.

I just don't see the price dropping below $100 ever again.  Unlike 2011, there are deep-pocketed investors now backstopping the currency, and they have millions riding on bitcoin businesses.  If there's a crash, bitcoin would be oversold, and these investors have access to the millions of USD needed to buy up low-priced coins.

I think this already happened once: the morning mini-crash on May 3rd was apparently stopped when a single user, likely waking up at ~8 AM PST, bought up all the coins from $84 to $98, and the price has never dropped below $90 since then.  And perhaps not coincidentally, the Winkelvii live in California, as do most of the silicon valley VCs.

With the recent increased interest by the investing class -- the only players that can actually affect the price now -- I think that by first week in June, the exchange rate will pop over $130, and then to $150 by the end of June.  The exchange rate might touch $110, as it did on the Gox/Dwolla news, but I doubt it.


That's just it, if one whale pulls out, crash. One comes in rally. There's no depth. 
vip
Activity: 756
Merit: 503
123.04K BTC can be bought for 24.25M until price goes above $1219
legendary
Activity: 1246
Merit: 1000
A candy for the bulls:



That looks like a mirror image of the orderbook on Bitstamp, only the numbers are bigger. Tongue
hero member
Activity: 728
Merit: 501
CryptoTalk.Org - Get Paid for every Post!
A candy for the bulls:



Wonder how much lag would be created on Gox with a 100k BTC market order. Over/under 3 days? I'm going over.  Grin
sr. member
Activity: 387
Merit: 250
Granted, but I do not see any reason for it to crash again, any time soon, there's too many wanting to buy at a lower price, like you. Some of them will get impatient, or risk missing the train. From a TA point of view, it looks bullish. That previous chart looked bearish.

I just don't see the price dropping below $100 ever again.  Unlike 2011, there are deep-pocketed investors now backstopping the currency, and they have millions riding on bitcoin businesses.  If there's a crash, bitcoin would be oversold, and these investors have access to the millions of USD needed to buy up low-priced coins.

I think this already happened once: the morning mini-crash on May 3rd was apparently stopped when a single user, likely waking up at ~8 AM PST, bought up all the coins from $84 to $98, and the price has never dropped below $90 since then.  And perhaps not coincidentally, the Winkelvii live in California, as do most of the silicon valley VCs.

With the recent increased interest by the investing class -- the only players that can actually affect the price now -- I think that by first week in June, the exchange rate will pop over $130, and then to $150 by the end of June.  The exchange rate might touch $110, as it did on the Gox/Dwolla news, but I doubt it.
hero member
Activity: 894
Merit: 501
but what about this one?

member
Activity: 112
Merit: 10
It obviously broke a very strong support a while before it started to crash
So did we.



Just stay on your toes, that's all I'm saying.

Would this trendline look the same if it weren't for the exponential scale?

It was growing exponentialy for a while before it went nova, so the trend line is difficult to discern. Either way, it will pick back up on it eventually.
sr. member
Activity: 434
Merit: 250
A candy for the bulls:

sr. member
Activity: 434
Merit: 250
Would this trendline look the same if it weren't for the exponential scale?

Well no, it would look like an exponential function on a linear scale.  Cheesy
legendary
Activity: 2380
Merit: 1823
1CBuddyxy4FerT3hzMmi1Jz48ESzRw1ZzZ
sr. member
Activity: 378
Merit: 250
Born to chew bubble gum and kick ass
It obviously broke a very strong support a while before it started to crash
So did we.



Just stay on your toes, that's all I'm saying.

Would this trendline look the same if it weren't for the exponential scale?
sr. member
Activity: 434
Merit: 250
I don't have that many.  Grin
legendary
Activity: 2324
Merit: 1125
Clearly someone did, or they wouldn't have sold.

Glad you see my point.

So what's your prediction?

I don't have one. I just don't think this overly bullish ambiance is a good thing.

Like I said in another thread, this time I will unload my coins if it goes down, contrary to 2011.

http://www.youtube.com/watch?v=S8QM79i-lXQ
member
Activity: 112
Merit: 10
Clearly someone did, or they wouldn't have sold.

Glad you see my point.

Granted, but I do not see any reason for it to crash again, any time soon, there's too many wanting to buy at a lower price, like you. Some of them will get impatient, or risk missing the train. From a TA point of view, it looks bullish. That previous chart looked bearish.

This is want you think it will happen , or what you WANT to happen ? Smiley

Both, but the market doesn't care what I want. So I go with what I think will happen, if what I want and what I think both happen to coincide, so be it.

Some notes:
The bitcoin loans are getting increasingly more expensive on Bitfinex.

The buy wall at $121 is very strong, because that's the lowest it will go in this consolidating triangle.

Not much of a sell wall between $123-124, which is about where the resistance is right now.

Lots of positive/neutral news recently.
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