Each rally over the past 3 days has ended with a dump to even lower prices. I think this will deter people from continuing to buy into them.
We could see over $100 today, but I don't think it will last long.. most of the bid depth is big walls at $90 and $80 that may not be real.
Topic: Wall Observer BTC/USD - Bitcoin price movement tracking & discussion - page 33561. (Read 26460894 times)
May 03, 2013, 12:25:20 PM
May 03, 2013, 12:24:12 PM
bear market. confidence shattered. Been trending down since $140 I'd advice selling (at $100+) while you can. It's safer to hold fiat for now.
May 03, 2013, 12:20:16 PM
The price has been above 90 for two hours.
Bear trap or are we past this dip?
I for one have no clue this time.
Bear trap or are we past this dip?
I for one have no clue this time.
May 03, 2013, 12:19:11 PM
Does anyone think we might have hit the bottom at 79 and now time for another rally before we go down further?
May 03, 2013, 12:16:25 PM
Anyone see reptielia guy ? i think he might commit susicide after loosing so much money 
Risto has changed his mind. He said that if prices drop he will buy more.
As matter of fact, I applaud his efforts as an experienced, professional bitcoin broker/dealer to create infrastructure that will gain him even more clients. There is a crude cliche that applies, at least partially to his behavior - Fake it until you make it.
I expect Risto to make it.
May 03, 2013, 12:16:04 PM
throughout this drop both support and resistance have been extreme. volume is very high. the volatility has brought in a lot of day traders looking to capitalize on the drop. I played the game myself, sold high bought lower! The risk to reward for doing this is going lower and lower with very drop, at one point the music will stop and there will be far more people than chairs.
I don't know ... that was a lovely bounce just now - if I had been on it ! But I guess if Billy Big Bat had not appeared on the scene we could equally well have dropped 10 points instead. Yeah .. it's fucking risky at the moment ...
Problem with day trading it is that you can't actually go short, so in a downward trending market you are relying solely on catching the bounces and being nimble. Yeah you can sell out and look to buy again, but that's not really going short. And as someone posted recently, going to bed with a position is very risky right now. That really skews the odds against day trading IMO.
I am ahead, but not by much, and it's been a rollercoaster ... one that I am beginning to tire of ... takes up so much time
Exactly had not it been superman coming with his 4 big orders of 2500 btc each , the drop would have continued. Right now we are at a waiting phase, a price above 100 is no more a bargain for buyers (in those uncertain times), and sellers are hoping for a better price, considering the latest uptrend.
Only a big dump, one that usually happens, will restart this thriller..
May 03, 2013, 12:15:59 PM
Anyone see reptielia guy ? i think he might commit susicide after loosing so much money
doubtful, he said he had unlimited money, so that shouldn't bother him one bit 
May 03, 2013, 12:07:23 PM
Anyone see reptielia guy ? i think he might commit susicide after loosing so much money
May 03, 2013, 12:02:10 PM
Amazing, such high volume, but at any time the bids and offers are so thin. It seems that anyone who wants to trade just unloads (fiat or BTC) at market. Hence we get stupid crazy volatility. I think the only winner is Gox.
The house always wins
May 03, 2013, 11:59:52 AM
May 03, 2013, 11:58:28 AM
Amazing, such high volume, but at any time the bids and offers are so thin. It seems that anyone who wants to trade just unloads (fiat or BTC) at market. Hence we get stupid crazy volatility. I think the only winner is Gox.
May 03, 2013, 11:51:38 AM
By the way what's going on with silk road? Any news? Any indication as to when they might be back up?
Quote from: Dread Pirate Roberts
'UPDATE (05/03/2013 0545 UTC): The attacks have been coming non-stop since my last update.
We've been able to keep the site open more than half the time with only minor issues such as limited image uploading for vendors.
Every hour we are making progress and I am feeling much more confident that we will come out on top within the next few days.
Still, expect some unannounced down-time here and there.'
http://www.reddit.com/r/SilkRoad/comments/1dm7id/latest_update_from_dpr_05032013_0545_utc/
We've been able to keep the site open more than half the time with only minor issues such as limited image uploading for vendors.
Every hour we are making progress and I am feeling much more confident that we will come out on top within the next few days.
Still, expect some unannounced down-time here and there.'
http://www.reddit.com/r/SilkRoad/comments/1dm7id/latest_update_from_dpr_05032013_0545_utc/
May 03, 2013, 11:49:54 AM
throughout this drop both support and resistance have been extreme. volume is very high. the volatility has brought in a lot of day traders looking to capitalize on the drop. I played the game myself, sold high bought lower! The risk to reward for doing this is going lower and lower with very drop, at one point the music will stop and there will be far more people than chairs.
I don't know ... that was a lovely bounce just now - if I had been on it ! But I guess if Billy Big Bat had not appeared on the scene we could equally well have dropped 10 points instead. Yeah .. it's fucking risky at the moment ...
Problem with day trading it is that you can't actually go short, so in a downward trending market you are relying solely on catching the bounces and being nimble. Yeah you can sell out and look to buy again, but that's not really going short. And as someone posted recently, going to bed with a position is very risky right now. That really skews the odds against day trading IMO.
I am ahead, but not by much, and it's been a rollercoaster ... one that I am beginning to tire of ... takes up so much time
May 03, 2013, 11:49:07 AM
By the way what's going on with silk road? Any news? Any indication as to when they might be back up?
May 03, 2013, 11:47:55 AM
There seems to be a lot of support at 97, I can't see it breaking.
For bottom though it seems that 79 is it for today.
For bottom though it seems that 79 is it for today.
In trader talk, you meant resistance at 97, right?
Yeah sorry the flipped 79,97 seems to be playing tricks on me haha
We might go down, but I don't see it going lower than 79 today.
May 03, 2013, 11:41:21 AM
throughout this drop both support and resistance have been extreme. volume is very high. the volatility has brought in a lot of day traders looking to capitalize on the drop. I played the game myself, sold high bought lower! The risk to reward for doing this is going lower and lower with very drop, at one point the music will stop and there will be far more people than chairs.
I am not going to lie, I took advantage of this. I set a buy at $80 before I went to sleep last night woke up and it was executed. Set a sell at $98 had a late breakfast and to my surprise it had also executed. I haven't made a ton of money like some people on this site but I am proud of the fact that I am $44 ahead of my initial deposit into my Mtgox along with 22BTC. So I would say 22BTC for a price of -$2 each is pretty solid.
Now I am about to go pop some popcorn, sit back and enjoy the show.
May 03, 2013, 11:35:46 AM
throughout this drop both support and resistance have been extreme. volume is very high. the volatility has brought in a lot of day traders looking to capitalize on the drop. I played the game myself, sold high bought lower! The risk to reward for doing this is going lower and lower with very drop, at one point the music will stop and there will be far more people than chairs.
Now if you could only literally sit on a bitcoin then okay.
May 03, 2013, 11:31:58 AM
throughout this drop both support and resistance have been extreme. volume is very high. the volatility has brought in a lot of day traders looking to capitalize on the drop. I played the game myself, sold high bought lower! The risk to reward for doing this is going lower and lower with very drop, at one point the music will stop and there will be far more people than chairs.
May 03, 2013, 11:30:08 AM
What is next $100 or $70
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