this is so entertaining!
Whoever thought something as simple as straight line could be?
Topic: Wall Observer BTC/USD - Bitcoin price movement tracking & discussion - page 25245. (Read 26607959 times)
October 05, 2014, 10:47:20 PM
Whoever thought something as simple as straight line could be?
October 05, 2014, 10:45:38 PM
17.94k
October 05, 2014, 10:45:11 PM
this is so entertaining!
October 05, 2014, 10:44:50 PM
Cheap coins in front of you guys... but I don't see anyone rushing to buy it all 
So who's gonna push this up to 10k?
So who's gonna push this up to 10k?
Hell, 1300 or so bought in a minute about ten minutes back
October 05, 2014, 10:44:07 PM
That´s a fucking big wall. 18000 BTC $5,400,000 USD. WOW! Someone it´s hurry to sell all his bitcoins or to manipulate hard the market to dump the price a lot.
October 05, 2014, 10:43:50 PM
420 is an interesting spot. That was the low on 5/5, which was about a 62% retrace of the first push up off the 339 low on 4/10 up to 683. So we are retesting that here.
It was very telling that we couldn't put in a new high above 683 in July; instead we trended sideways until we broke the second pullback's low of 538. Bottom line, if we break 420, then I think we are heading to retest 340. I'm thinking the most likely scenario is to grind down to 260, which was the April 2013 high. A nice capitulation there would set the stage for a new (real) bull market--the last runup to 1100+ was solely driven by the Mt. Gox "hacker" bot debacle (very intersting articles floating around on this).
Another aspect of this decline is that while it has been fairly big today, there just isn't much volume. That's not a sign of a good bottom. We probably need a 50000+ volume day to see capitulation. If fear starts ramping up, we may see 340 in a couple high-volume days. If not, we may bounce here for a few weeks and then head lower. But this doesn't feel like a low yet.
Just FYI, I've traded S&P futures for years and have watched that market daily for 15+ years.
It was very telling that we couldn't put in a new high above 683 in July; instead we trended sideways until we broke the second pullback's low of 538. Bottom line, if we break 420, then I think we are heading to retest 340. I'm thinking the most likely scenario is to grind down to 260, which was the April 2013 high. A nice capitulation there would set the stage for a new (real) bull market--the last runup to 1100+ was solely driven by the Mt. Gox "hacker" bot debacle (very intersting articles floating around on this).
Another aspect of this decline is that while it has been fairly big today, there just isn't much volume. That's not a sign of a good bottom. We probably need a 50000+ volume day to see capitulation. If fear starts ramping up, we may see 340 in a couple high-volume days. If not, we may bounce here for a few weeks and then head lower. But this doesn't feel like a low yet.
Just FYI, I've traded S&P futures for years and have watched that market daily for 15+ years.
As an update, we did have some pretty good volume @ 275, which may be close enough to the 260 I was calling for (using a fat pencil). This sell wall is pretty interesting, so we'll have to see how that plays out. I think it's actually bullish--you WANT to see big selling at bottoms.
I am also watching a UTL on the log chart that goes all the way back to November 2011 where BTC was $2. This UTL currently sits at about $200. This is important IMO, and if broken, I won't be bullish.
Interesting times!
October 05, 2014, 10:43:01 PM
Cheap coins in front of you guys... but I don't see anyone rushing to buy it all
So who's gonna push this up to 10k?
So who's gonna push this up to 10k?
Hell, 1300 or so bought in a minute about ten minutes back
In total we are nearing 15k-20k bought I think. (Well, about 7k to market sells, and the rest to people nibbling on the wall)
October 05, 2014, 10:42:52 PM
We welcome change and openness; for we believe that freedom and security go together, that the advance of human liberty can only strengthen the cause of world peace. There is one sign that we can make that would be unmistakable, that would advance dramatically the cause of freedom and peace. Believers in this radically new form of currency, if you seek peace, if you seek prosperity for the world, if you seek liberalization, come here to Bitstamp. Wire in your fiat and TEAR DOWN THIS WALL!
October 05, 2014, 10:42:42 PM
Cheap coins in front of you guys... but I don't see anyone rushing to buy it all
So who's gonna push this up to 10k?
So who's gonna push this up to 10k?
India, then Africa, then Antarctica. Duh.
October 05, 2014, 10:41:11 PM
How the hell am I supposed to get any sleep tonight?
This, my entertainment for the nightWhat kinds of odds are posters placing on the price movement - either after the wall is pulled or after the wall is eaten?
It seems most posters seem inclined to believe the price will be bullish, and for the reasons of my earlier post, I am inclined to believe it is bearish (b/c the fiat is going to be exhausted by the quantity of coins being purchased at this $300 price point - and NO current ability to add fiat to Stamp).
October 05, 2014, 10:39:12 PM
Cheap coins in front of you guys... but I don't see anyone rushing to buy it all
So who's gonna push this up to 10k?
So who's gonna push this up to 10k?
Hell, 1300 or so bought in a minute about ten minutes back
October 05, 2014, 10:38:37 PM
that wall belongs to FEDs.
Guys i think this makes sense, because BitStamp wouldnt dare to take FEDs coins right? I mean whos stupid enough to leave that many coins on a foreign exchange ? And don't forget to sell on Sunday to ensure the lowest possible price! Yes, yes, you can collect overtime for working Sunday.
There's no way this price level holds when the banks open tomorrow. If it does, I start hitting all the pawn shops and loan sharks I know. Can't imagine I'll be the only one doing it, either.
October 05, 2014, 10:38:19 PM
Cheap coins in front of you guys... but I don't see anyone rushing to buy it all
So who's gonna push this up to 10k?
So who's gonna push this up to 10k?
India, then Africa, then Antarctica. Duh.
October 05, 2014, 10:38:07 PM
Cheap coins in front of you guys... but I don't see anyone rushing to buy it all
So who's gonna push this up to 10k?
So who's gonna push this up to 10k?
October 05, 2014, 10:37:25 PM
How the hell am I supposed to get any sleep tonight?
This, my entertainment for the night October 05, 2014, 10:37:01 PM
Cheap coins in front of you guys... but I don't see anyone rushing to buy it all
So who's gonna push this up to 10k?
So who's gonna push this up to 10k?
October 05, 2014, 10:36:49 PM
And...how many more to buy @300?
October 05, 2014, 10:36:18 PM
that wall belongs to FEDs.
Guys i think this makes sense, because BitStamp wouldnt dare to take FEDs coins right? I mean whos stupid enough to leave that many coins on a foreign exchange ? And don't forget to sell on Sunday to ensure the lowest possible price! Yes, yes, you can collect overtime for working Sunday.
yeah i missed the post above about Nemesis.
October 05, 2014, 10:35:57 PM
How the hell am I supposed to get any sleep tonight?
October 05, 2014, 10:34:58 PM
18.13K
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