Wall Observer BTC/USD - Bitcoin price movement tracking & discussion - page 32831.

oda.krell

legendary

Activity: 1470

Merit: 1007

Quote from: solex on July 28, 2013, 06:34:20 PM

It's not $100 because Gox is artificially high because no-one can get fiat off..

It's not $100 if its only just technically above $100

It's not $100 because it's a dumb whale buying

It's not $100 because Stamp is still less than $100

Not sure if you're ironically quoting others or being serious, but every way you turn it, 100 has been and continues to be an important psychological barrier, both as support and as resistance.

Touching it like we do now won't magically turn this ship around all by itself, but as far as noteworthy signals go, I consider this a (moderately) positive one. Now let's see how long we stay above.

Ray Anastasio

newbie

Activity: 40

Merit: 0

Gox insiders buying to get out just before the official announcement of bankruptcy?

superpatosainz

newbie

Activity: 28

Merit: 0

Well, artificial or not, we are still at 100, and it's been hangin' around for some considerable time. Maybe it's time for arstechnica, engadget and other blogs to write about it and ROCKET IT TO THE MOON?

adamstgBit

legendary

Activity: 1904

Merit: 1037

Trusted Bitcoiner

Quote from: Wagner2014 on July 28, 2013, 06:56:48 PM

I strongly believe that most TA is entirely useless for Bitcoin at this stage. The trading volume is too small. It is not very liquid. If only a tiny % of bitcoins exchange hands each day, it is difficult to discern through the popular TA methods the price direction or any meaningful patterns. Things like resistance and support levels are less meaningful. One large player can have a major impact on the price. So, it amounts to a guessing game more or less.

In addition, the Bitcoin market is subject to price manipulation to a greater extent than a lot of more widely held securities. It is more like a penny stock at this stage.

So, for all you Bulls cheering about reaching $100, congrats for being 'right', but some large player can just as easily knock the price down to $50 in short order and then you'll be 'wrong'.

wtv buy buy buy

ChartBuddy

legendary

Activity: 2380

Merit: 1823

1CBuddyxy4FerT3hzMmi1Jz48ESzRw1ZzZ

Wagner2014

member

Activity: 84

Merit: 10

I strongly believe that most TA is entirely useless for Bitcoin at this stage. The trading volume is too small. It is not very liquid. If only a tiny % of bitcoins exchange hands each day, it is difficult to discern through the popular TA methods the price direction or any meaningful patterns. Things like resistance and support levels are less meaningful. One large player can have a major impact on the price. So, it amounts to a guessing game more or less.

In addition, the Bitcoin market is subject to price manipulation to a greater extent than a lot of more widely held securities. It is more like a penny stock at this stage.

So, for all you Bulls cheering about reaching $100, congrats for being 'right', but some large player can just as easily knock the price down to $50 in short order and then you'll be 'wrong'.

adamstgBit

legendary

Activity: 1904

Merit: 1037

Trusted Bitcoiner

I wish i had mtgoxUSD just so i could buy up 100.xx Cool

solex

legendary

Activity: 1078

Merit: 1006

100 satoshis -> ISO code

It's not $100 because Gox is artificially high because no-one can get fiat off..

It's not $100 if its only just technically above $100

It's not $100 because it's a dumb whale buying

It's not $100 because Stamp is still less than $100

vokain

legendary

Activity: 1834

Merit: 1019

Quote from: Walsoraj on July 28, 2013, 06:23:59 PM

Yall can thank me for today's mega green boners Cheesy

danke

Walsoraj

hero member

Activity: 686

Merit: 500

Ultranode

Yall can thank me for today's mega green boners Cheesy

Spekulatius

legendary

Activity: 1022

Merit: 1000

Quote from: MAbtc on July 28, 2013, 05:19:44 PM

Quote from: notme on July 28, 2013, 05:16:18 PM

For those of you still in denial, the correct count is as follows:
We are now starting wave 2 of 3 of 3 off the $65 bottom. After this slight correction, we will see wave 3 of 3 of 3 which should take us up to $104 or higher.

I think we could see 120s - 130s. IMO that could be the top for a while. We'll see how this goes -- have not yet confirmed that this is not a triple top (in which case, resumption of downtrend could continue).

True, this is a critical point, if we can establish the price above 100, 105ish, the downtrend seems broken and price discovery starts upwards with a rally.
If not however...
unfortunately this piercing of 100 didnt result in an instant rally and seems very whale driven to me. Order book depth is rather thin atm. I guess everybody is waiting for the 105 to break or the collapse of the whale's efforts. RSI on any period between and including 1hr and 12hrs suggest that a break out is not a good idea right now, RSI on the 1d chart being at 57 atm speaks no clear language, but this level is certainly not the best for a trend reversal.

In any way, I hope that we get some clear message from the market soon and I think we have come to a point where it becomes more and more likely by the hour to get this message. The following days should bring a decision.

vokain

legendary

Activity: 1834

Merit: 1019

I just had an internal impulse to buy more when we crossed 100 again (though I didn't act on it, already a bit overextended heh). I assume that people will decide to start to buy in this week. GOOOOOOD LOOKIN' SONNNN

edit: i regret not acting on my gut most of the time. i'm gonna try it out and buy another hundred or so soon. looking back, most every "should I...." I've had has always been a resounding yes.

Quote from: superpatosainz on July 28, 2013, 06:08:40 PM

Well, it's a pity that the price that's at 100 USD is in MtGox, the artificial price exchange.

bitstamp/bfx is at $93ish

superpatosainz

newbie

Activity: 28

Merit: 0

Well, it's a pity that the price that's at 100 USD is in MtGox, the artificial price exchange.

JimboToronto

legendary

Activity: 4200

Merit: 4887

You're never too old to think young.

1.3k to try to hold 100.

byronbb

legendary

Activity: 1414

Merit: 1000

HODL OR DIE

Quote from: TheKoziTwo on July 28, 2013, 05:23:49 PM

A few quotes from Blitz made in july

Quote from: N12 on July 12, 2013, 09:57:14 AM

Goodbye, triple digits. See you 2015.

Quote from: N12 on July 12, 2013, 03:11:36 PM

After this week, I'm not sure we will see triple digits in 2013 again.

Quote from: N12 on July 12, 2013, 08:55:06 PM

This has never been a billion dollar market to begin with. Triple digit, billion, those are things of a faint past.

Quote from: N12 on July 18, 2013, 01:25:26 AM

No more triple digits for 2013.

Quote from: N12 on July 18, 2013, 02:12:45 AM

Noone buys the triple digit lie anymore.

Quote from: N12 on July 18, 2013, 01:55:42 AM

Looks like MtGox is beginning to shake off its denial and join the ranks of the 80s. This is only the beginning.

Quote from: N12 on July 17, 2013, 07:24:29 PM

What if the buyer is an established casino firm that wanted to get into the Bitcoin game? If that's the case, then they would've been accumulating beforehand and have been responsible for some of the buying pressure. This would now be gone, along with 350k coins released on the market.

I smell blood.

Keep tryin' buddy, even a broken clock is right twice a day Wink

He definitely seems to post only when it's going down that's for sure.

byronbb

legendary

Activity: 1414

Merit: 1000

HODL OR DIE

adamstgBit

legendary

Activity: 1904

Merit: 1037

Trusted Bitcoiner

I really should send more money, who needs an RRSP anyway Huh

ok if it gose lower i will buy more ok
ok
Wink

phorensic

hero member

Activity: 630

Merit: 500

Quote from: TheKoziTwo on July 28, 2013, 05:23:49 PM

A few quotes from Blitz made in july

Quote from: N12 on July 12, 2013, 09:57:14 AM

Goodbye, triple digits. See you 2015.

Quote from: N12 on July 12, 2013, 03:11:36 PM

After this week, I'm not sure we will see triple digits in 2013 again.

Quote from: N12 on July 12, 2013, 08:55:06 PM

This has never been a billion dollar market to begin with. Triple digit, billion, those are things of a faint past.

Quote from: N12 on July 18, 2013, 01:25:26 AM

No more triple digits for 2013.

Quote from: N12 on July 18, 2013, 02:12:45 AM

Noone buys the triple digit lie anymore.

Quote from: N12 on July 18, 2013, 01:55:42 AM

Looks like MtGox is beginning to shake off its denial and join the ranks of the 80s. This is only the beginning.

Quote from: N12 on July 17, 2013, 07:24:29 PM

What if the buyer is an established casino firm that wanted to get into the Bitcoin game? If that's the case, then they would've been accumulating beforehand and have been responsible for some of the buying pressure. This would now be gone, along with 350k coins released on the market.

I smell blood.

Keep tryin' buddy, even a broken clock is right twice a day Wink

Thank you for putting in the work for the recap. It's good for a laugh.

notme

legendary

Activity: 1904

Merit: 1002

Quote from: MAbtc on July 28, 2013, 05:19:44 PM

Quote from: notme on July 28, 2013, 05:16:18 PM

For those of you still in denial, the correct count is as follows:
We are now starting wave 2 of 3 of 3 off the $65 bottom. After this slight correction, we will see wave 3 of 3 of 3 which should take us up to $104 or higher.

I think we could see 120s - 130s. IMO that could be the top for a while. We'll see how this goes -- have not yet confirmed that this is not a triple top (in which case, resumption of downtrend could continue).

120-130 sounds decent to me too, but it could be weaker or stronger. We'll just have to see how things play out. I'm in no way convinced $65 is the hard bottom, but at least for the mid term it appears so.

elg

full member

Activity: 151

Merit: 104

gg

Topic: Wall Observer BTC/USD - Bitcoin price movement tracking & discussion - page 32831. (Read 26623596 times)