Wall Observer BTC/USD - Bitcoin price movement tracking & discussion - page 33122.

KS

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Quote from: Miz4r on June 15, 2013, 06:51:47 AM

Quote from: KS on June 15, 2013, 06:49:22 AM

Quote from: Miz4r on June 15, 2013, 06:47:18 AM

I don't know, I have a feeling the downward trend is on its last legs now. I've bought most of my bitcoins back at 98, I expect a little uptrend towards 110 soon.

Unless there is some action tomorrow, when you're asleep. You might have an opportunity to lower your avg price.

I use an alarm to wake me when the price goes above or below a certain price. People are expecting another Sunday dump but I think it's going to be the opposite this time. Dumps don't work when everyone expects them, so you need to do the opposite of what's expected to get results. Wink

I'm 50/50 on Sunday vs Tuesday (but it could be Monday or not at all - aaargh! Cheesy

)

ChartBuddy

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Miz4r

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Quote from: KS on June 15, 2013, 06:49:22 AM

Quote from: Miz4r on June 15, 2013, 06:47:18 AM

I don't know, I have a feeling the downward trend is on its last legs now. I've bought most of my bitcoins back at 98, I expect a little uptrend towards 110 soon.

Unless there is some action tomorrow, when you're asleep. You might have an opportunity to lower your avg price.

I use an alarm to wake me when the price goes above or below a certain price. People are expecting another Sunday dump but I think it's going to be the opposite this time. Dumps don't work when everyone expects them, so you need to do the opposite of what's expected to get results. Wink

KS

sr. member

Activity: 448

Merit: 250

Quote from: Miz4r on June 15, 2013, 06:47:18 AM

I don't know, I have a feeling the downward trend is on its last legs now. I've bought most of my bitcoins back at 98, I expect a little uptrend towards 110 soon.

Unless there is some action tomorrow, when you're asleep. You might have an opportunity to lower your avg price.

Miz4r

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Activity: 1246

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I don't know, I have a feeling the downward trend is on its last legs now. I've bought most of my bitcoins back at 98, I expect a little uptrend towards 110 soon.

Its About Sharing

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Antifragile

Quote from: Miz4r on June 15, 2013, 06:28:02 AM

Bids are not lowering, it just looks that way now because the price went up from 98-ish to 102. That also makes the ask side look more in balance with the bid side now, I guess double digits are just not sustainable (yet?).

Ahhh, I see your point. I really don't think double digits are sustainable either - sustainable being the key word. We may have buyers come in and jack the price up but there are many many people who would like to sell in the $100 + range, so I don't see a prolonged rally unless those buyers start coming in force. For that we need something - news, another bank to go under, interest rates to really rise, etc.

I don't like being in Fiat but I get the feeling we will slowly settle below 100. I worked some numbers by studying the chart (and past charts) and came up with a bounce off the $90 range on our way down. The other points on the way down (not saying we reach all of them) is 82, 68 and 60. Maybe low 50's but I think the buying won't let that happen, too many people want it. Depending on how long the downward movement goes on, I'd "guess" the $68 region is more likely, we'll have to see how people react.

ElectricMucus

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Marketing manager - GO MP

gogogo!

Miz4r

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Bids are not lowering, it just looks that way now because the price went up from 98-ish to 102. That also makes the ask side look more in balance with the bid side now, I guess double digits are just not sustainable (yet?).

Its About Sharing

legendary

Activity: 1442

Merit: 1000

Antifragile

Anyone notice Chartbuddy chaning the last few hours?
Seems like the Bids are lowering and asks are raising.

This little rise got knocked down over a buck on low volume (relative to the higher volume on the rise.)

wachtwoord

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Quote from: StarenseN on June 15, 2013, 06:05:33 AM

It's time to convert your fiat guys.

When is it not?

StarenseN

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It's time to convert your fiat guys.

ChartBuddy

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TheKoziTwo

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Bids are piling up.... could it be all bears have sold and placed their bid now.... ready for rally time? Grin

[source]

Manna

full member

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Merit: 100

Wow, the ask side of mt.gox is very thin, bid valley is very deep, a good sign ?

KS

sr. member

Activity: 448

Merit: 250

Quote from: Miz4r on June 15, 2013, 05:23:58 AM

Quote from: samson on June 15, 2013, 05:22:04 AM

Quote from: Miz4r on June 15, 2013, 05:17:59 AM

Quote from: Rampion on June 15, 2013, 04:58:43 AM

Quote from: Its About Sharing on June 15, 2013, 02:49:05 AM

Can someone explain the large Bid Ask imbalance - I mean it is easy to see but with so many bids (support?) right below the price and so few sells above the current price, shouldn't we be going up?
I've noticed it slowly had been building the last 2 or 3 days (as we went down.)

IAS

Bids are piling up, but price is slowly goes down, which means that more bids are sold into that asks bought. What buyers are doing is slowly moving their bids lower and lower while sellers sell.

There's no rush to buy.

There's no telling when the buying panic will start but it's getting nicely coiled up.

I think people will buy when they think it's cheap.

No they will buy when they think they will have no more chance at buying cheaper.

Both and more. They'll buy when they think it's the time to buy, for whatever reason/motive that drives them.

Pzi4nk

member

Activity: 70

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Move over clarinets, I'm getting on the band wagon

Quote from: 4mherewego on June 15, 2013, 04:49:04 AM

Quote from: Pzi4nk on June 15, 2013, 04:38:06 AM

The market rate has been steadily narrowing between MtGox and BitStamp over the past few weeks.

The current difference is <1%.

This seems to indicate there's not much movement of capital between the two exchanges as it costs at least 2% to rotate capital between these two exchanges.

It takes time to rotate cash, Bitcoins on the other hand...

One week ago the difference was >$4 for several hours. I bought ~50BTC $104 at Bitstamp when it was $108@Mtgox.

But I guess these opportunities will get fewer as the arbitrators learns their lessons...

Yes, it's free to transfer BTC from Bitstamp to MtGox and you can buy low and sell high, but that's just a one-time event unless you rotate fiat back to Bitstamp to purchase BTC again.

That whole process incurs transaction fees and hence why there's a difference between MtGox and Bitstamp.

When the difference is less than the transaction fees though it indicates people are not rotating capital.

Miz4r

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Quote from: samson on June 15, 2013, 05:22:04 AM

Quote from: Miz4r on June 15, 2013, 05:17:59 AM

Quote from: Rampion on June 15, 2013, 04:58:43 AM

Quote from: Its About Sharing on June 15, 2013, 02:49:05 AM

Can someone explain the large Bid Ask imbalance - I mean it is easy to see but with so many bids (support?) right below the price and so few sells above the current price, shouldn't we be going up?
I've noticed it slowly had been building the last 2 or 3 days (as we went down.)

IAS

Bids are piling up, but price is slowly goes down, which means that more bids are sold into that asks bought. What buyers are doing is slowly moving their bids lower and lower while sellers sell.

There's no rush to buy.

There's no telling when the buying panic will start but it's getting nicely coiled up.

I think people will buy when they think it's cheap.

No they will buy when they think they will have no more chance at buying cheaper.

samson

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Quote from: Miz4r on June 15, 2013, 05:17:59 AM

Quote from: Rampion on June 15, 2013, 04:58:43 AM

Quote from: Its About Sharing on June 15, 2013, 02:49:05 AM

Can someone explain the large Bid Ask imbalance - I mean it is easy to see but with so many bids (support?) right below the price and so few sells above the current price, shouldn't we be going up?
I've noticed it slowly had been building the last 2 or 3 days (as we went down.)

IAS

Bids are piling up, but price is slowly goes down, which means that more bids are sold into that asks bought. What buyers are doing is slowly moving their bids lower and lower while sellers sell.

There's no rush to buy.

There's no telling when the buying panic will start but it's getting nicely coiled up.

I think people will buy when they think it's cheap.

Miz4r

legendary

Activity: 1246

Merit: 1000

Quote from: Rampion on June 15, 2013, 04:58:43 AM

Quote from: Its About Sharing on June 15, 2013, 02:49:05 AM

Can someone explain the large Bid Ask imbalance - I mean it is easy to see but with so many bids (support?) right below the price and so few sells above the current price, shouldn't we be going up?
I've noticed it slowly had been building the last 2 or 3 days (as we went down.)

IAS

Bids are piling up, but price is slowly goes down, which means that more bids are sold into that asks bought. What buyers are doing is slowly moving their bids lower and lower while sellers sell.

There's no rush to buy.

There's no telling when the buying panic will start but it's getting nicely coiled up.

ChartBuddy

legendary

Activity: 2352

Merit: 1819

1CBuddyxy4FerT3hzMmi1Jz48ESzRw1ZzZ

Topic: Wall Observer BTC/USD - Bitcoin price movement tracking & discussion - page 33122. (Read 26496387 times)