Wall Observer BTC/USD - Bitcoin price movement tracking & discussion - page 32539.

rpietila

donator

Activity: 1722

Merit: 1036

Quote from: Voodah on July 26, 2013, 06:00:30 AM

Quote from: rpietila on July 26, 2013, 04:58:14 AM

Quote from: Tzupy on July 26, 2013, 03:53:13 AM

We have the standoff between a buying whale and sellers that are willing to dump at 96-97,
I believe mostly people who missed the train on the 19th July (I didn't, sold at 99 the day before).
If the buying whale makes another move today, up to 98 I believe, we'll find out if the sellers
get exhausted or not. If they do, the way to 100 and beyond is open IMO.

Don't be too preoccupied with the idea that only one entity in the world is accumulating bitcoins now, whereas the sellers are many. This is the age when the pros make their moves, and they don't necessarily use the exchanges at all, except for the purpose of price suppression. Bitcoin is quickly redeeming its place among gold and silver.

But there's so much resistance.. What makes you so bullish? Are you thinking we going over 100?

Volume is so small it does not matter much. The exchanges have their regulatory problems and worries, very few are willing to commit serious amounts of coin to Mt.Gox any more. This has changed over the last 3 months. I used to keep more than 2000 coins in Gox but do not do any more.

My bullishness is based on fundamentals. Bitcoin will be either destroyed, or become a dud, flourish, or conquer the world. The latter 3 scenarios all mean that price will increase compared to now. I have parked my bitcoins in deep storage - to be activated when the price hits $1400.

The risk is great but that can be mitigated by only investing what you can afford to lose. For many people that is quite much, actually Wink

ChartBuddy

legendary

Activity: 2324

Merit: 1801

1CBuddyxy4FerT3hzMmi1Jz48ESzRw1ZzZ

Voodah

sr. member

Activity: 266

Merit: 250

Quote from: rpietila on July 26, 2013, 04:58:14 AM

Quote from: Tzupy on July 26, 2013, 03:53:13 AM

We have the standoff between a buying whale and sellers that are willing to dump at 96-97,
I believe mostly people who missed the train on the 19th July (I didn't, sold at 99 the day before).
If the buying whale makes another move today, up to 98 I believe, we'll find out if the sellers
get exhausted or not. If they do, the way to 100 and beyond is open IMO.

Don't be too preoccupied with the idea that only one entity in the world is accumulating bitcoins now, whereas the sellers are many. This is the age when the pros make their moves, and they don't necessarily use the exchanges at all, except for the purpose of price suppression. Bitcoin is quickly redeeming its place among gold and silver.

But there's so much resistance.. What makes you so bullish? Are you thinking we going over 100?

vokain

legendary

Activity: 1834

Merit: 1019

Quote from: rpietila on July 26, 2013, 04:58:14 AM

Quote from: Tzupy on July 26, 2013, 03:53:13 AM

We have the standoff between a buying whale and sellers that are willing to dump at 96-97,
I believe mostly people who missed the train on the 19th July (I didn't, sold at 99 the day before).
If the buying whale makes another move today, up to 98 I believe, we'll find out if the sellers
get exhausted or not. If they do, the way to 100 and beyond is open IMO.

Don't be too preoccupied with the idea that only one entity in the world is accumulating bitcoins now, whereas the sellers are many. This is the age when the pros make their moves, and they don't necessarily use the exchanges at all, except for the purpose of price suppression. Bitcoin is quickly redeeming its place among gold and silver.

poor gold and silver, it's like now the two older siblings have to make room for the newborn in the family.

hi rpietila, hope you've been taking it easy!

ChartBuddy

legendary

Activity: 2324

Merit: 1801

1CBuddyxy4FerT3hzMmi1Jz48ESzRw1ZzZ

rpietila

donator

Activity: 1722

Merit: 1036

Quote from: Tzupy on July 26, 2013, 03:53:13 AM

We have the standoff between a buying whale and sellers that are willing to dump at 96-97,
I believe mostly people who missed the train on the 19th July (I didn't, sold at 99 the day before).
If the buying whale makes another move today, up to 98 I believe, we'll find out if the sellers
get exhausted or not. If they do, the way to 100 and beyond is open IMO.

Don't be too preoccupied with the idea that only one entity in the world is accumulating bitcoins now, whereas the sellers are many. This is the age when the pros make their moves, and they don't necessarily use the exchanges at all, except for the purpose of price suppression. Bitcoin is quickly redeeming its place among gold and silver.

vokain

legendary

Activity: 1834

Merit: 1019

~$5M. not unmanageable, but compared to a few months ago it is quite a chunk of change

solex

legendary

Activity: 1078

Merit: 1006

100 satoshis -> ISO code

Quote from: Tzupy on July 26, 2013, 03:53:13 AM

We have the standoff between a buying whale and sellers that are willing to dump at 96-97,
I believe mostly people who missed the train on the 19th July (I didn't, sold at 99 the day before).
If the buying whale makes another move today, up to 98 I believe, we'll find out if the sellers
get exhausted or not. If they do, the way to 100 and beyond is open IMO.

I agree. And it is trench warfare as it is 19k to 100 but 36k to 103 (according to bitcoinwisdom) so the sellers do have a lot of ammo.

ChartBuddy

legendary

Activity: 2324

Merit: 1801

1CBuddyxy4FerT3hzMmi1Jz48ESzRw1ZzZ

Tzupy

legendary

Activity: 2156

Merit: 1094

We have the standoff between a buying whale and sellers that are willing to dump at 96-97,
I believe mostly people who missed the train on the 19th July (I didn't, sold at 99 the day before).
If the buying whale makes another move today, up to 98 I believe, we'll find out if the sellers
get exhausted or not. If they do, the way to 100 and beyond is open IMO.

solex

legendary

Activity: 1078

Merit: 1006

100 satoshis -> ISO code

That 2.5k wall at 96 which was half-eaten has now re-inflated to 3.2k
Keen buyers at these levels, perhaps spooked a bit by the deposit/withdrawal circus.

molecular

donator

Activity: 2772

Merit: 1019

Quote from: Richy_T on July 25, 2013, 07:38:01 PM

Quote from: notme on July 25, 2013, 06:34:25 PM

Quote from: molecular on July 25, 2013, 06:28:29 PM

inspired by adams chartbuddy conglomeration post, I just made a chartbuddy video starting mid-may.

http://youtu.be/ifKS-UebUCI

for some reason the quality currently sucks really bad (doesn't on my end). maybe it'll get better once the youtube re-encoder has finished his duties for higher qualities or something.

Awesome. If only you could align the prices between charts it would be even better. But I imagine that would be a pain.

I still have all the data so it would not be hard to re-encode with static axis. Unfortunately, I don't have the price data archived though.

not too hard to get it from bitcoincharts:

Code:

#> curl "http://bitcoincharts.com/t/trades.csv?symbol=mtgoxUSD&start=0" > trades.csv

(more info how to import into postgres if anyone is interested here's an old thread: BEGINNER WORKSHOP: bitcoincharts + postgres = cool sql queries

here's how I made the video:

Code:

mencoder -fps 15 -ovc x264 -o chartbuddy15.mp4 mf://*.png

after getting the files with this little script (which leaves much to be desired, of course, but works):

Code:

#!/bin/bash
n=15840
while [ "$n" -lt "15911" ]; do
  h=0
  while [ "$h" -lt "24" ]; do
    h2=$h
    if [ $h -lt 10 ]; then h2="0$h"; fi
    echo "getting ${n}.${h2}.png"
    curl -s -o ${n}.${h2}.png http://www.rtcons.com/wall/${n}.${h}.png
    h=$[ $h + 1 ];
  done
  n=$[ $n + 1 ];
done;

gizmoh

legendary

Activity: 1428

Merit: 1000

Quote from: tarmi on July 26, 2013, 03:16:53 AM

Quote from: Tzupy on July 26, 2013, 03:15:47 AM

Is MtGox down for someone else too? I'm getting 502 bad gateway.

i cant log in. apparently there were too many attempts to log in from my ip address???

Goxxed. I guess they are trying to resolve this timeout issue.

vokain

legendary

Activity: 1834

Merit: 1019

same

tarmi

legendary

Activity: 1232

Merit: 1011

Quote from: Tzupy on July 26, 2013, 03:15:47 AM

Is MtGox down for someone else too? I'm getting 502 bad gateway.

i cant log in. apparently there were too many attempts to log in from my ip address???

Tzupy

legendary

Activity: 2156

Merit: 1094

Is MtGox down for someone else too? I'm getting 502 bad gateway.

ChartBuddy

legendary

Activity: 2324

Merit: 1801

1CBuddyxy4FerT3hzMmi1Jz48ESzRw1ZzZ

Its About Sharing

legendary

Activity: 1442

Merit: 1000

Antifragile

I can't remember seeing such a disparate price and money flow divergence in recent memory. The volume is not alarming but the divergence alone is. Look at other signs/indicators that you follow. The Gann guys have mentioned us coming against a wall as well. And we are just below the 100 day ema as well. Stoch turning down. We are sitting below key resistance levels as well. I would not go long here but watch closely.

ChartBuddy

legendary

Activity: 2324

Merit: 1801

1CBuddyxy4FerT3hzMmi1Jz48ESzRw1ZzZ

ChartBuddy

legendary

Activity: 2324

Merit: 1801

1CBuddyxy4FerT3hzMmi1Jz48ESzRw1ZzZ

Topic: Wall Observer BTC/USD - Bitcoin price movement tracking & discussion - page 32539. (Read 26471394 times)