Topic: Wall Observer BTC/USD - Bitcoin price movement tracking & discussion - page 33564. (Read 26493181 times)
May 11, 2013, 10:48:21 PM
I know this is the Wall Observer thread so it comes with the territory, but many or most people here simply seem over-antsy. Few humans are psychologically equipped to follow day-to-day price changes without freaking out and losing money because of it. The tendency is to start reading into every little thing.
May 11, 2013, 10:43:50 PM
I love how sentiment changes so quickly, everyone was bullish on the way up to $122. Now, after drifting back down to equilibrium, everyone is bearish. This is going to happen a lot for the next two months...
I've been pretty firm on the downtrend thing for a while now.
At least in BTC time.
May 11, 2013, 10:41:03 PM
That's because the market has been characterized by low volume for 5+ days. When it did pick up action, it was during a pump and has dwindled down ever since. The market is not exactly bullish.
May 11, 2013, 10:25:46 PM
I love how sentiment changes so quickly, everyone was bullish on the way up to $122. Now, after drifting back down to equilibrium, everyone is bearish. This is going to happen a lot for the next two months...
May 11, 2013, 10:02:44 PM
May 11, 2013, 09:47:56 PM
Drew some lines. 
Note the stability & low volume at $125 on 20 April and again at $115 on 8 May. Support line from 20-22 April candle bottoms matches 8-10 May 3 weeks later. Wedge forming with general convergence to the support line. Fair price has been $115 for almost a month; expect to see more volatility after we drop again. Chance of double digit coins appearing within 2 weeks: better-than-even, but after that odds are better-than-even that we'll see significant upward movement.
Note the stability & low volume at $125 on 20 April and again at $115 on 8 May. Support line from 20-22 April candle bottoms matches 8-10 May 3 weeks later. Wedge forming with general convergence to the support line. Fair price has been $115 for almost a month; expect to see more volatility after we drop again. Chance of double digit coins appearing within 2 weeks: better-than-even, but after that odds are better-than-even that we'll see significant upward movement.
May 11, 2013, 09:15:15 PM
I think bitcoins value might not go up much for a while...
but I think betting it will go down is kinda crazy.
we are being bought out, dump it all today or slowly unload, its not going to make a dif.
but I think betting it will go down is kinda crazy.
we are being bought out, dump it all today or slowly unload, its not going to make a dif.
May 11, 2013, 09:13:01 PM
May 11, 2013, 09:03:29 PM
I feel bearish.
May 11, 2013, 09:03:09 PM
May 11, 2013, 08:51:36 PM
Maybe someone just sold a bunch of coins for market price and cleared out the order book. Campbx doesn't have the greatest volume. The price already rebounded to 115.
May 11, 2013, 08:41:03 PM
5 Dollar drop in seconds? What is going on?
what market are you looking at?
http://bitcoinity.org/markets/campbx/USD
May 11, 2013, 08:39:18 PM
I am speculating a solid dump by Monday and prices to go down to 80 ish
You really should just lurk more.
May 11, 2013, 08:38:39 PM
5 Dollar drop in seconds? What is going on?
what market are you looking at?
May 11, 2013, 08:34:08 PM
5 Dollar drop in seconds? What is going on?
May 11, 2013, 08:27:10 PM
I am speculating a solid dump by Monday and prices to go down to 80 ish
Care to place a wager on that?
May 11, 2013, 08:26:32 PM
Millions of dollars are being deposited daily on Gox, only a few hundred thousand dollars a day are being taken off of Gox.
At least that's what Gox reported. When they made the statement it was maybe true (for one day or two, next to the bubble)
Is it still true (if it was true at all)?
Next: Withdrawal restrictions. Deposit 1 Million $ at Gox? One transaction. To withdraw your money completely, you have to make many small transactions over a longer period of time.
The amount of money going into Gox being higher than the amount of money withdrawn in any given period of time is not very surprising.
If the quoted statement is true then there are dozens of Millions at Gox just hanging around in stand-by. Which means: No interest rates and not quickly withdrawable. I can't really imagine why big investors would do that, but maybe that's just me.
That is not true. You may increase your withdrawal limits fairly easy.
"If you wish to increase your withdrawal limit you will need to send us a copy of your official government photo ID (such as a scan of your passport and/or drivers license) plus a copy of your utility bill (private) or corporate information (company)."
If you are a US citizen using Gox you're halfway there!
May 11, 2013, 08:19:58 PM
I am speculating a solid dump by Monday and prices to go down to 80 ish
May 11, 2013, 08:16:30 PM
Which means: No interest rates and not quickly withdrawable. I can't really imagine why big investors would do that, but maybe that's just me.
To buy cheap coins.
Very, very cheap coins.
Maybe
May 11, 2013, 08:07:44 PM
Which means: No interest rates and not quickly withdrawable. I can't really imagine why big investors would do that, but maybe that's just me.
To buy cheap coins.
Very, very cheap coins.
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