Topic: Wall Observer BTC/USD - Bitcoin price movement tracking & discussion - page 33797. (Read 26713779 times)

Likely you would have to charge much more than that as you will be flooded by chargeback scammers.

Is this down?
http://bitcoin.clarkmoody.com

I would be surprised by too much action on this weekend.

This is what I was thinking aswell. I was actually thinking about doing a startup, a website where you can only buy Bitcoins. That's it, nothing else. Make it work INSTANTLY without any delays whatsoever, with common payment methods including Paypal (I think people can't put money in BTC's because Paypal is mostly unavailable, thats the problem I had when I first started) - Right now getting Bitcoins is a very long process that can take weeks if you take the Mt.Gox verification into account. On that website I could sell Bitcoins instantly, but maybe at a higher price than the current market situation [+5%] so I still make a profit.

I thought about maybe making a kickstarter for it or something similar but I don't know...

I would be surprised by too much action on this weekend.

Agreed with your thinking. Also, there are so many people following TA that the spike might be driven by the trend-line watchers jumping in and momentum becomes self-fulfilling. A breakout usually retests support before taking off. Heading for a retest at the moment...

...

haha. that wasn't a prediction (except that I said I favored green scenario). If we include your grey scenario (sideways for a while in white area in my pic), what I layed out pretty much covered all possibilities. Easy to be correct then.

Although I prepared for a drop I must admit I'm pretty relieved we broke upwards. Initially (couple days ago) I had been quite certain move would be up, but had increasingly become worried about the possibilities red/yellow. Probably have been reading too many bear threads... really gets to you after a while.

Let's see how much momentum this has... who knows, maybe it's a bull-trap.

My own little nagging to the bears. 

117.61 to 118.35

so boring

(aside: looks like I'm developing a habit to dig up older posts. oh well)

That's the million dollar question, I'd say. Here's a somewhat related observation I made during the last days:

Take the order book. (ignore for a moment the objection that some/many/all of the orders are fake). The last days saw a rather drastic increase of the bid sum/ask sum ratio (visualized nicely on blockchained). There's another calculation I make routinely, seeing how far the price would go in either directions if the entire bid sum or ask sum (or parts of it) were executed as market orders. Don't know if that technique has a fancy name (maybe 'market execution price'?), but it takes into account not only the order totals but also the price distribution.

Okay, here's the observation: the average of that execution price was rising even more sharply than the bid sum/ask sum ratio lately. Which means not only did more money enter the order book (and/or coins left it), but that order prices appreciated as well.

The conclusion I draw is that a big reason why we saw the current upward breakout is that a) new orders were placed (duh!), and b) buyers adjusted their existing orders after realizing that their overly optimistic price setting for entering the market won't be met anytime soon (less of a duh). And I suspect this trend will continue.