Wall Observer BTC/USD - Bitcoin price movement tracking & discussion - page 32576.

BitPirate

full member

Activity: 238

Merit: 100

RMBTB.com: The secure BTC:CNY exchange. 0% fee!

Quote from: jbcv on July 19, 2013, 06:18:42 AM

dude all im saying is that so far today's low volume in trade shows that btc is over priced. do you agree or disagree?

Disagree completely. It means noone knows what the f* to do. My reading of the situation is that we saw the potential first signs of a bullish recovery last week. That had the potential to continue for one more leg up this week, but no-one in their right mind is going to buy in the absurd situation when there is a $10 gap between the two main exchanges, and arbitrage doesn't serve to close the gap (due to one exchange following the other's price changes).

So buying pressure reduced and the price fell -- on somewhat lower volume than previous legs down. The result is rather unconvincing and leaves the market a bit listless. Even the strongest TA adherents can't convince themselves in such a bifurcated market.

My prediction, for what it's worth (nothing) is that since now Mt Gox appears to be getting it's act together, and the exchange gap is closing, buying pressure will slowly return, and we happen to be near the bottom of a less-than-100%-convincing leg down. You might see some anticipatory buys on Sunday.

Its About Sharing

legendary

Activity: 1442

Merit: 1000

Antifragile

Nice site, if you haven't checked out https://www.tradingview.com/ I really recommend it. I don't know how to use most of the drawing tools but it is pretty intuitive and allows for creativity.

So, what do you all think of visiting $50 - $40 between July 23rd ish and the beginning of August? I'm really happy with the triangle feature ;-) And the overbought needs correcting...

Its About Sharing

legendary

Activity: 1442

Merit: 1000

Antifragile

Quote from: crumbs on July 19, 2013, 07:52:53 AM

Quote from: Its About Sharing on July 19, 2013, 07:27:15 AM

...

Quote

To see the truth in the false
The craving for experience is the beginning of illusion. As you now realize, your visions were but the projections of your background, of your conditioning, and it is these projections that you have experienced. Surely this is not meditation. The beginning of meditation is the understanding of the background, of the self, and without this understanding, what is called meditation, however pleasurable or painful, is merely a form of self-hypnosis. You have practised self-control, mastered thought, and concentrated on the furthering of experience. This is a self-centred occupation, it is not meditation; and to perceive that it is not meditation is the beginning of meditation. To see the truth in the false sets the mind free from the false. Freedom from the false does not come about through the desire to achieve it; it comes when the mind is no longer concerned with success with the attainment of an end. There must be the cessation of all search, and only then is there a possibility of the coming into being of that which is nameless.

Stuff like that always reminds me of a line from Hitchhiker's Guide to the Galaxy: "Learning to fly is easy. The knack lies in learning how to throw yourself at the ground and miss."

ehehehe, which reminds me, I'd much rather have 42 BTC's than 45...

ChartBuddy

legendary

Activity: 2324

Merit: 1801

1CBuddyxy4FerT3hzMmi1Jz48ESzRw1ZzZ

crumbs

full member

Activity: 210

Merit: 100

Quote from: Its About Sharing on July 19, 2013, 07:27:15 AM

...

Quote

To see the truth in the false
The craving for experience is the beginning of illusion. As you now realize, your visions were but the projections of your background, of your conditioning, and it is these projections that you have experienced. Surely this is not meditation. The beginning of meditation is the understanding of the background, of the self, and without this understanding, what is called meditation, however pleasurable or painful, is merely a form of self-hypnosis. You have practised self-control, mastered thought, and concentrated on the furthering of experience. This is a self-centred occupation, it is not meditation; and to perceive that it is not meditation is the beginning of meditation. To see the truth in the false sets the mind free from the false. Freedom from the false does not come about through the desire to achieve it; it comes when the mind is no longer concerned with success with the attainment of an end. There must be the cessation of all search, and only then is there a possibility of the coming into being of that which is nameless.

Stuff like that always reminds me of a line from Hitchhiker's Guide to the Galaxy: "Learning to fly is easy. The knack lies in learning how to throw yourself at the ground and miss."

Its About Sharing

legendary

Activity: 1442

Merit: 1000

Antifragile

@bclcjunkie - Well said.

The way I see it is that it doesn't matter if a person is a hater or a Fan boy. What matters is what they say (and in a sense how they say it). Even in bullshit there is truth.
If someone is hating while I'm bullish, I still look at what they say, perhaps more so as then I have something "to lose". And likewise in the other direction.
But even Shrooms..., ok, not him, but lets say coinseeker (who I have had my disagreements with), when he has something to say with a bit of proof - I listen.

I just remember some wise words by J. Krishnamurti.

I bolded the most relavant part but left it as one piece as it is really, well, deep...

Quote

To see the truth in the false
The craving for experience is the beginning of illusion. As you now realize, your visions were but the projections of your background, of your conditioning, and it is these projections that you have experienced. Surely this is not meditation. The beginning of meditation is the understanding of the background, of the self, and without this understanding, what is called meditation, however pleasurable or painful, is merely a form of self-hypnosis. You have practised self-control, mastered thought, and concentrated on the furthering of experience. This is a self-centred occupation, it is not meditation; and to perceive that it is not meditation is the beginning of meditation. To see the truth in the false sets the mind free from the false. Freedom from the false does not come about through the desire to achieve it; it comes when the mind is no longer concerned with success with the attainment of an end. There must be the cessation of all search, and only then is there a possibility of the coming into being of that which is nameless.

Its About Sharing

legendary

Activity: 1442

Merit: 1000

Antifragile

Quote from: Frozenlock on July 19, 2013, 05:00:16 AM

http://thepiratebay.sx/torrent/5547867/Elliott_Wave_Educational_Video_Series_by_Robert_Prechter

Grin

Danke,

Somehow this fits...

Darth Vader: Your powers are weak, old man.

ChartBuddy

legendary

Activity: 2324

Merit: 1801

1CBuddyxy4FerT3hzMmi1Jz48ESzRw1ZzZ

bclcjunkie

hero member

Activity: 833

Merit: 1001

add to that his avatar i almost fell out of my chair laughing out loud... Grin

Shrooms,

stop bitching mate if this shit is getting too heavy to handle for you find yourself a subforum that will feed you some overoptimistic nonsense for bagholders... i'm a bitcoin fan but i'm a realist hence love what guys like Rampion, IAS and Blitz think about current situation... they are the reason i visit this subforum daily to keep myself informed.. i got hit badly due to lack of knowledge about bitcoins.. and at least i now have much better view of what's going on in bitcoin market, what really drives it and keep my expectations far more realistic not to mention be cautious when it comes to investing in coins... all thanks to these guys... now that doesn't mean they may be correct all the time but at least they give enough information for you to make your own decisions, conclusions...

Quote from: Rampion on July 18, 2013, 03:54:05 PM

Quote from: ShroomsKit on July 18, 2013, 03:52:21 PM

Quote from: N12 on July 18, 2013, 03:16:41 PM

So MtGox is servicing withdrawals AND we have 155k BTC to be dispersed in 4 hours?

Goodbye, triple digits. Does anyone remember those?

I'm starting to think you are mentally challenged or something.
You already looked like a complete fool twice over the past 2 weeks and you just go on like nothing happened. Just like that other delusional tool Rampion. What is wrong with you people? Don't you have any shame?
Don't you see you were wrong twice already? Do you just ignore it or what?
I'm just totally amazed by your behaviour. You really don't seem sane.

God, Shroomsy I love you, you're really making me laugh out loud, I'm almost pissing my pants!!!!

Pure comedy gold Cheesy

tutkarz

hero member

Activity: 546

Merit: 501

Quote from: jbcv on July 19, 2013, 06:39:27 AM

Quote from: tutkarz on July 19, 2013, 06:25:40 AM

Quote from: jbcv on July 19, 2013, 06:18:42 AM

Quote

nope, one buy or not sell is not 'more trading'. Well ok, ANY BUY/SELL is one more trade, but I think we mean actual action going on. One 3k buy or sell will trigger volume. 100 30btc buys and sells will not trigger further volume

dude all im saying is that so far today's low volume in trade shows that btc is over priced. do you agree or disagree?

if bitcoin would be overpriced, then people would be selling them, don't they? If they are not doing this maybe they think that price is too low.

well obviously the people holding on to their coins think its under priced, but since there are few buyers compared to average wouldn't that show something? if someone suddenly needs fiat it will send the price well down, and i think this is much more likely than someone suddenly needing btc

depends. if people invested (like they should) only amount they can afford to lose, then they most of the time don't need to do this. On the other hand we have Argentina or Kenya where people need bitcoins in any amount but not always they can buy them.

jbcv

newbie

Activity: 22

Merit: 0

Quote from: tutkarz on July 19, 2013, 06:25:40 AM

Quote from: jbcv on July 19, 2013, 06:18:42 AM

Quote

nope, one buy or not sell is not 'more trading'. Well ok, ANY BUY/SELL is one more trade, but I think we mean actual action going on. One 3k buy or sell will trigger volume. 100 30btc buys and sells will not trigger further volume

dude all im saying is that so far today's low volume in trade shows that btc is over priced. do you agree or disagree?

if bitcoin would be overpriced, then people would be selling them, don't they? If they are not doing this maybe they think that price is too low.

well obviously the people holding on to their coins think its under priced, but since there are few buyers compared to average wouldn't that show something? if someone suddenly needs fiat it will send the price well down, and i think this is much more likely than someone suddenly needing btc

cosmicblue

sr. member

Activity: 282

Merit: 250

Quote from: molecular on July 19, 2013, 06:35:15 AM

Quote from: Kazu on July 19, 2013, 03:43:03 AM

Dont worry, another drop down to $60 is in order.

That's from the Bible, right?

LOL

molecular

donator

Activity: 2772

Merit: 1019

Quote from: Kazu on July 19, 2013, 03:43:03 AM

Dont worry, another drop down to $60 is in order.

That's from the Bible, right?

lucas.sev

sr. member

Activity: 252

Merit: 250

Quote from: jbcv on July 19, 2013, 06:18:42 AM

nope, one buy or not sell is not 'more trading'. Well ok, ANY BUY/SELL is one more trade, but I think we mean actual action going on. One 3k buy or sell will trigger volume. 100 30btc buys and sells will not trigger further volume

dude all im saying is that so far today's low volume in trade shows that btc is over priced. do you agree or disagree?
[/quote]

I disagree. I think it shows nothing. Bitcoin does what it wants really.

tutkarz

hero member

Activity: 546

Merit: 501

Quote from: jbcv on July 19, 2013, 06:18:42 AM

Quote

nope, one buy or not sell is not 'more trading'. Well ok, ANY BUY/SELL is one more trade, but I think we mean actual action going on. One 3k buy or sell will trigger volume. 100 30btc buys and sells will not trigger further volume

dude all im saying is that so far today's low volume in trade shows that btc is over priced. do you agree or disagree?

if bitcoin would be overpriced, then people would be selling them, don't they? If they are not doing this maybe they think that price is too low.

jbcv

newbie

Activity: 22

Merit: 0

nope, one buy or not sell is not 'more trading'. Well ok, ANY BUY/SELL is one more trade, but I think we mean actual action going on. One 3k buy or sell will trigger volume. 100 30btc buys and sells will not trigger further volume
[/quote]

dude all im saying is that so far today's low volume in trade shows that btc is over priced. do you agree or disagree?

lucas.sev

sr. member

Activity: 252

Merit: 250

Quote from: jbcv on July 19, 2013, 06:06:06 AM

Quote from: lucas.sev on July 19, 2013, 05:53:37 AM

Quote from: jbcv on July 19, 2013, 05:49:43 AM

Quote from: lucas.sev on July 19, 2013, 05:46:03 AM

Quote from: jbcv on July 19, 2013, 05:43:08 AM

When there is very little trading going on, like right now, surely that would result in the price going down?

nope, it might just as well been a correction

well if the market is now correct then wouldn't that spark more trading?

large, single buys/sells spark more trading, nothing else.

ummm yess, when there is more trading, there is more trading, but i'm looking at why that would happen. what i'm thinking is that there would be a certain level of trading when the price is correct. when the price is low the market would be having a higher trading volume, and when it is high there would be less, which is why i think btc is over priced now.

nope, one buy or not sell is not 'more trading'. Well ok, ANY BUY/SELL is one more trade, but I think we mean actual action going on. One 3k buy or sell will trigger volume. 100 30btc buys and sells will not trigger further volume

jbcv

newbie

Activity: 22

Merit: 0

Quote from: lucas.sev on July 19, 2013, 05:53:37 AM

Quote from: jbcv on July 19, 2013, 05:49:43 AM

Quote from: lucas.sev on July 19, 2013, 05:46:03 AM

Quote from: jbcv on July 19, 2013, 05:43:08 AM

When there is very little trading going on, like right now, surely that would result in the price going down?

nope, it might just as well been a correction

well if the market is now correct then wouldn't that spark more trading?

large, single buys/sells spark more trading, nothing else.

ummm yess, when there is more trading, there is more trading, but i'm looking at why that would happen. what i'm thinking is that there would be a certain level of trading when the price is correct. when the price is low the market would be having a higher trading volume, and when it is high there would be less, which is why i think btc is over priced now.

ChartBuddy

legendary

Activity: 2324

Merit: 1801

1CBuddyxy4FerT3hzMmi1Jz48ESzRw1ZzZ