Topic: Wall Observer BTC/USD - Bitcoin price movement tracking & discussion - page 33297. (Read 26463421 times)
May 17, 2013, 05:23:35 PM
If the low weekend volume that we have come to expect is not affected by the bitcoin conference, then the support wall at $122 and the resistance at $125 may hold until volume picks up late Sunday.
May 17, 2013, 05:02:05 PM
May 17, 2013, 05:01:23 PM
Has anybody else noticed the ultra short term inverse relationship between mtgox <-> btce?
When gox goes up btce goes down and verse visa.
When gox goes up btce goes down and verse visa.
I'm not sure exactly why, but it might be because they are more difficult to fund.
They do have a lot of alt crypto-currencies, which can take away from what would normally be put into BTC.
There's also the investors mentality, some exchanges have more bears than others.
Perhaps there is something to do with the limited supply and demand as well.
Eh its not really fair to look at very short term relationships between Gox/BTCe, considering the volume is ~2 decades less. Also, don't underestimate the trollbox. I've seen prices pushed around +/-2 USD from textpanic in there. In general, they follow each other proportionally. Also, yes, it is fun to play a bit of time-arbitrage with LTC.
I have not seen, however, a separation of 10 USD/BTC Gox/BTCe in quite a while.
May 17, 2013, 04:58:42 PM
Both walls appear to me to be lacking, yet the buy wall has many more orders, if that means much. So it looks like it will consolidate for a little while.
Anyone know of a good way to see if the market is over bought or sold?
Anyone know of a good way to see if the market is over bought or sold?
May 17, 2013, 04:46:21 PM
Has anybody else noticed the ultra short term inverse relationship between mtgox <-> btce?
When gox goes up btce goes down and verse visa.
When gox goes up btce goes down and verse visa.
I'm not sure exactly why, but it might be because they are more difficult to fund.
They do have a lot of alt crypto-currencies, which can take away from what would normally be put into BTC.
There's also the investors mentality, some exchanges have more bears than others.
Perhaps there is something to do with the limited supply and demand as well.
May 17, 2013, 04:42:04 PM
Has anybody else noticed the ultra short term inverse relationship between mtgox <-> btce?
When gox goes up btce goes down and verse visa.
When gox goes up btce goes down and verse visa.
May 17, 2013, 04:38:10 PM
Looks to me like a triangle forming with $124 as the close.
Time of convergence?
Looks like about 2-3 hours to me, but it could always break out sooner. I'm just observing what's happening, not really making predictions.
May 17, 2013, 04:33:05 PM
It would be hilarious to see the price take off, right after what appears to be the near end for bitcoin. 
At least according to the misleading news articles going around.
At least according to the misleading news articles going around.
May 17, 2013, 04:31:27 PM
EFF accepting BTC is pretty major. Even though they're careful to distance themselves from endorsing or supporting the currency, this is definitely the first stage to having them as a defender in the case of a legislative assault on Bitcoin.
Kashmir Hill, the journalist that lived off of bitcoin for a week, is friends with several people at EFF. Marcia Hoffman is "senior staff attorney at the Electronic Frontier Foundation"https://twitter.com/kashhill/status/329674086550736897
May 17, 2013, 04:30:55 PM
Looks to me like a triangle forming with $124 as the close.
Time of convergence?
May 17, 2013, 04:16:55 PM
Looks to me like a triangle forming with $124 as the close.
May 17, 2013, 04:14:12 PM
Regulation is the best thing that can happen to Bitcoin. It will instantly legitimize it and mass adoption would spread like a wildfire. Let's hope that dosen't happen before we touch double digits again or else I'm going to have to eat crow on my "guarantee". 
May 17, 2013, 04:11:48 PM
I'm putting my neck on the line here: bottom of $118 top of $144 by the end of the weekend :p
I'm not really a predictor bear in mind, more of a summariser of what's gone before.
I'm not really a predictor bear in mind, more of a summariser of what's gone before.
fair calls for low/high, but what about closing price at the end of the weekend?
I think the price will stay high because of the event this weekend.
May 17, 2013, 04:05:13 PM
https://www.eff.org/deeplinks/2013/05/eff-will-accept-bitcoins-support-digital-liberty
Quote
Our research and FinCEN’s guidance removed a key risk to EFF. Both our internal research and the recent report by FinCEN2 have confirmed that, as a user of Bitcoin or any virtual currency, EFF itself is likely not subject to regulation. While some have raised concerns about the FinCEN ruling, and noted that it’s not binding, it did confirm our own analysis of risk to us as a user and reduced our concerns that by accepting Bitcoins EFF risked moving away from its role as a defender of innovators and into the role as a possible defendant.
This is extremely good on many levels. The foundations concerns had been a thorn in Bitcoins back. People tend to listen to what they think. Thanks EFF for reconsideration and thank to fincen for guidance.
May 17, 2013, 04:01:49 PM
May 17, 2013, 03:48:03 PM
There's nothing like a decent bit of well-considered speculation argued in an eloquent way.
I guess you're fresh in from the Trollbox?
I guess you're fresh in from the Trollbox?
May 17, 2013, 03:42:29 PM
I'm putting my neck on the line here: bottom of $118 top of $144 by the end of the weekend :p
I'm not really a predictor bear in mind, more of a summariser of what's gone before.
I'm not really a predictor bear in mind, more of a summariser of what's gone before.
ballz!
May 17, 2013, 03:41:06 PM
I can imagine that quite a few who bought in around $112 will have their fingers hovering over the trigger right about now. Lets hope most have steady hands.
I don't know how many people are in it for the short score. I think most buyers are looking long term.
I agree, I think many went long the moment it crossed $120. And more followed when it broke through $125 easily soon after (although we haven't managed to stabilize above it yet). Many see this as a significant trend reversal since the crash from $266 (no more lower highs), the downward trend has been broken and thus we get a positive feedbackloop that reinforces the new trend upwards.
May 17, 2013, 03:39:19 PM
I'm putting my neck on the line here: bottom of $118 top of $144 by the end of the weekend :p
I'm not really a predictor bear in mind, more of a summariser of what's gone before.
I'm not really a predictor bear in mind, more of a summariser of what's gone before.
May 17, 2013, 03:34:37 PM
I can imagine that quite a few who bought in around $112 will have their fingers hovering over the trigger right about now. Lets hope most have steady hands.
I don't know how many people are in it for the short score. I think most buyers are looking long term.
I'm back in, and I'm not planning on selling any time soon not unless we get massively oversold.
Isn't that where you would be better off buying?
must be a typo
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