Topic: Wall Observer BTC/USD - Bitcoin price movement tracking & discussion - page 32503. (Read 26471797 times)

This is what Full Tilt Poker was doing with credit cards before they were seized by U.S. Gov.

Asks up about 25% from the low, but still at a pretty weak 90k.

Bids only down about 7% from the high. Still room to go up?

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The volume has fallen at each buying period.
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This could be a reflection of MTgox users cashing USD by purchasing Bitcoins on gox to sell at other exchanges. I think this will carry on for another couple of weeks pushing prices artificially higher, therefore maybe until Gox sort there problems out it's better to look at human behavior than lines on charts.

Goooo slow grind!!

Sure, it was only supposed to be indicative.

The volume has fallen at each buying period. The below shows it more clearly:



Anyway, it will be interesting to see how it pans out.

The volume trend line isn't nearly as linear as that. Head and shoulders may confirm but I think we bounce at 103-104. 

That's what I'm seeing anyway.

Yeah, guess I should have been more explicit. Our time frames are very different I rarely if ever look at something that long. My point was, in the past 7 days we went from 95 to 110/111, now back to ~106. I don't even want to look ahead 7 days, but for the coming day or two, I don't see the current uptrend fizzling out just yet.

I'll wait for VisaCoins.

Which one... mastercoins, or bitcoins? 

A new protocol is being built on top of bitcoin, not sure what the end result will be, but it sounds F-ing crazy, BUY BUY BUY!

you have a point. EDIT: I misunderstood you, I thought you said we're still in a downtrend and you don't see reversal into uptrend. lol.


The way I see it:

• If we break $115 the 2.5-month-long downtrend is broken and we're in a 1-month-long uptrend.
• If we break $67 the downtrend continues.
• before any of that happens, we're not clearly trending in any timeframe >= 1 month.

I'm wondering where some of you are getting the idea that the trend is about to reverse. Because of the 5 USD retracement we just saw? Or maybe I'm missing something that the candle watchers can see but I cannot.

The way I see it, it's not entirely clear if, in the short term (24-48h) we'll continue to go up or will stabilize at this level, but I see very little indication that we're going down right now.

Well the if you keep the gain in Bitcoins then price will end up higher after it. So in a way it depends on the sediment, but since the price of gox pretty much drives sediment we end up with this.
Also the most gain from this strategy (but also the most risky) is to send the profits in Bitcoins to gox.

ok, but if you sell again you in fact didn't buy anything on bitstamp, and still the price follows gox. The one buying from you does support a higher price on stamp. Someone in the end really wants those coins on bitstamp too and is supporting the price to go up, right?

Head and shoulders completing for the day? Both volume and price points to it pretty clearly on MtGox.

The volume is still high on Bitstamp, mind. The pattern is there though.

Could we see a blow off back down to about 101 MtGox/93 Bitstamp?

It's called delayed arbitrage. Since gox still has the highest volume the other exchanges are following it.
It's a pretty riskless profiting opportunity to just buy after a certain amount of coins have been bought on gox. You don't have to wire money just sell at a little gain and repeat.

I've come to the same opinion and have very little hope for $30 to be reached as I realized recently that even in 2011 the bottom ($2) was twice as high as the previous top before the bubble ($1). Twice as high as the top before the bubble ($30) would be $60 now but since $60 has been touched twice already I think chances are 50/50 it won't happen again. I realize this is contradictory to the bubble collapse theory which points to $40 only to be reached in a few months, as SlipperySlope explains so well. But he too is open to a reflating of the bubble before it deflates fully.

The gox exodus doesn't explain the strong buying happening on bitstamp. Someone wants coins really bad there and I highly doubt this to be arbitrageurs as the risk seems too high for their fiat stuck on gox. Is it just a pump and dumper or is it the rich taking a small position? I'm betting on the latter as all gates are open for them now. Bitcoin has proven to survive the 2011 depression, and the recent bubble gave bitcoin mainstream attention and above all legal approval from different government institutions. The price halving from the top is likely enough for them to take a small position already 'just in case it doesn't drop further'.  

Impaler, I think it was, also gave some good counterarguments one must look at volume and not time to see whether the deflating of the bubble is over. Based on volume it is. Also he confirmed how the rich are able to absorb more price volatitlity. Indeed, who cares if it's only a small percentage of your capital that you buy at $100 or $50 if the potential of it is to tenfold in 2-3 years? Most important is to take the small exposure, and not be left out.

I think it's time to become bullish again, though I certainly might be proven wrong.