Topic: Wall Observer BTC/USD - Bitcoin price movement tracking & discussion - page 33484. (Read 26461743 times)

Here we go?

4000 BTC to $100



Make that 2000.

Well, the oscillations (gravy train) are essentially over on the mother-of-all-triangles.  We are entering the pinch point.  The next few days will be interesting.

In all metrics you could go either way:

On the one hand we have 17M on the bid side which is over double what we had originally climbing into 100.  But the end of the bank holiday did not increase bids.  Of course, the pinch point is not a good time to place bids if you can just watch the charts so there could be secret rocket fuel on Gox.

On the news front we have very bullish news coming out of China, but medium term. But those directly involved will not be able to buy for quite some time.  And we seem to have news exhaustion in the western world -- what coverage there is is all about speculation or regulation.  But lots of bears posting here... implying that people who wanted out are out.

Fundamentally, the transactional uses for BTC that have existed since early/mid 2012 seem to remain strong (although I haven't heard updates from gambling sites, etc).  So the 2012 extrapolated exponential trendline (call it E0) seems very solid.  However, the question the market will resolve in the next week is whether the E1 trendline (starting Jan 2013) is also solid (leaving E2 and E3 as the bubble exponentials).  On the bull side, note the trendline started near the block reward halving event & adoption of BTC payment options by certain web sites (these events sequester/limit supply and remain in force).  On the bear side, that trendline is still freakin' insane :-), and anyway "final capitulation" event would likely plumb below it (we are right on it now).  Also on the bear side: rpietila thinks its a sure thing, and is basing his "I am THE new gentleman elite" posts on its continued performance.  

Bears loading their weapons...



Still for now they are just baby bears

ChartBuddy retrieves each piece of data as a new file and at the top of each hour, processes all of them into an image. If this is happening, it shouldn't be ChartBuddy but it's not impossible. I'd put more money on Gox feeding bad data. Looks like it's all back working though. Other option is that the data is good and the market is boring


If you'll notice, when good data can't be retrieved from Gox, the line for that minute isn't plotted.

Indeed ... that's the biggest story of the week so far lol

Oooh ... here she blows ... first test of $100 on the way ...

maybe the aks wall @105 is just for buying?
as bid walls are for selling?

who knows, how ever, I enjoy my free ride
and if it gets really low I will happily put some fiat in again

and also past experience....there is no way just because of china that the price should have gone up so quickly other than manipulation.

the bulls were played this weekend.

Wallzilla giveth and Wallzilla taketh away. 

see what I mean?
hope and expectations ...

I think now it is inevitable..the pressure is huge....i have been patiently waiting to buy so i am hoping.

if I only would be that sure than most of you people here
it seems to easy if you know what I mean,
everybody expecting prices below 100
but markets love to disappoint ...

For all fractal fans this seems quite similar

Just relax, if you look at the market, its quite obvious that someone wants to bring the price down to buy some more cheap coinz. It will happen soon 

oh no!!

if we don't break 100 now we may stay between 100 and 120 for ever! 
 

Indeed, now lets crush the 100 and see how deep the rabbit hole goes

Huge downwards pressure building up. Next stop, $90ish