Topic: Wall Observer BTC/USD - Bitcoin price movement tracking & discussion - page 34096. (Read 26610803 times)
April 17, 2013, 08:13:15 PM
Volume is rather low right now... Unless there's a sudden increase in volume past 95, I don't think the rally will be sustainable... I think it may dip down to 85 before a substantial breakout appears.
April 17, 2013, 08:07:17 PM
BTC comeback time! I see the spring coiling at $95. I remember what happened the last time...
April 17, 2013, 08:06:43 PM
I call bullshit on the 10k-15k-20k-25k bitcoions that would have to be sold at $80 and $70 and $60 and $50 to get there. The panic sellers have left the building. If you're not interested in selling your 5k bitcoins at $90-$95, you'll have even less interest on selling them on the way down. There's really one guy with 50k bitcoins who is just going to exit the market and drive it down to $50? Last 12 hours we have highs of 98, lows of 83. If you really were itching to sell, you'd be out now. Any drops now is just a chance to buy back in. Everyone who thinks we're going to $20-$30-$40-$50, they've sold their coins. Those people aren't holding right now at $95.
So we wait and see.
April 17, 2013, 08:00:14 PM
There's still a million dollar wall at $70. What are the chances that someone will get us past that?
I'd say 100% when it's pulled.
This. The big walls are time and time again just illusions. We approach them and they disappear. How often do they actually get eaten through? I don't have faith right now that the support moving up is real support. Price crashes 81% in less than a week and we are stabilized / on an uptrend like a day later?
I'm calling bullshit on the support, if it falls to the wall after any further significant rise, it's going down to the next level which would be the $50 support.
At that point I have to wonder if there will be enough downward momentum to break through it.
I call bullshit on the 10k-15k-20k-25k bitcoions that would have to be sold at $80 and $70 and $60 and $50 to get there. The panic sellers have left the building. If you're not interested in selling your 5k bitcoins at $90-$95, you'll have even less interest on selling them on the way down. There's really one guy with 50k bitcoins who is just going to exit the market and drive it down to $50? Last 12 hours we have highs of 98, lows of 83. If you really were itching to sell, you'd be out now. Any drops now is just a chance to buy back in. Everyone who thinks we're going to $20-$30-$40-$50, they've sold their coins. Those people aren't holding right now at $95.
April 17, 2013, 07:51:24 PM
doesn't anyone else see the similarities?
The important part is post-bubble. There's no reason to think that it will behave the same as in 2011.
There is no bad news this time to crush confidence. Actually, good news is still coming in just as it did on the way up. New merchants accepting every day. New exchanges and projects being worked on. Plenty of media coverage and people coming in.
no bad news?
what are you talking about?
btc24 is history along with +5M $
bitfloor stoped trading (AML reasons probably too)
it just hasn't made it to the news yet
Well, news of that scale was happening on the way up too. The chain fork, instawallet and bitcoin-central, bitinstant, etc..
None of it really compares to MtGox getting hacked in 2011.
I think the good news has by far outweighed the bad. But that's just my opinion.
April 17, 2013, 07:49:33 PM
$95's almost here.
April 17, 2013, 07:48:58 PM
Quote
doesn't anyone else see the similarities?
Yes. Perhaps the rate of decline is faster this time because traders have the first bubble as a reference.
April 17, 2013, 07:48:30 PM
doesn't anyone else see the similarities?
The important part is post-bubble. There's no reason to think that it will behave the same as in 2011.
There is no bad news this time to crush confidence. Actually, good news is still coming in just as it did on the way up. New merchants accepting every day. New exchanges and projects being worked on. Plenty of media coverage and people coming in.
Why would they buy now, if they can get cheaper later?
Initiaiting a several large scale mass dumps can be a good way to purchase new additional coins for much less than you sell them for, especially once it picks up pace and others also join in the dumping frenzy sending the price down further.
Then pull a couple of bid walls and the price is in freefall.
April 17, 2013, 07:47:05 PM
doesn't anyone else see the similarities?
The important part is post-bubble. There's no reason to think that it will behave the same as in 2011.
There is no bad news this time to crush confidence. Actually, good news is still coming in just as it did on the way up. New merchants accepting every day. New exchanges and projects being worked on. Plenty of media coverage and people coming in.
no bad news?
what are you talking about?
btc24 is history along with +5M $
bitfloor stoped trading (AML reasons probably too)
it just hasn't made it to the news yet
April 17, 2013, 07:44:05 PM
doesn't anyone else see the similarities?
The important part is post-bubble. There's no reason to think that it will behave the same as in 2011.
There is no bad news this time to crush confidence. Actually, good news is still coming in just as it did on the way up. New merchants accepting every day. New exchanges and projects being worked on. Plenty of media coverage and people coming in.
Why would they buy now, if they can get cheaper later?
April 17, 2013, 07:41:01 PM
doesn't anyone else see the similarities?
The important part is post-bubble. There's no reason to think that it will behave the same as in 2011.
There is no bad news this time to crush confidence. Actually, good news is still coming in just as it did on the way up. New merchants accepting every day. New exchanges and projects being worked on. Plenty of media coverage and people coming in.
April 17, 2013, 07:40:49 PM
April 17, 2013, 07:38:59 PM
April 17, 2013, 07:36:45 PM
doesn't anyone else see the similarities?
April 17, 2013, 07:35:31 PM
April 17, 2013, 07:33:54 PM
Sure, big walls can be pulled, but how much does it matter? The $1M wall at $70 now has $4.5M (and rising) of support in front of it. It's not like the current price is being held up by one person.
True
April 17, 2013, 07:33:07 PM
There's still a million dollar wall at $70. What are the chances that someone will get us past that?
I'd say 100% when it's pulled.
This. The big walls are time and time again just illusions. We approach them and they disappear. How often do they actually get eaten through? I don't have faith right now that the support moving up is real support. Price crashes 81% in less than a week and we are stabilized / on an uptrend like a day later?
I'm calling bullshit on the support, if it falls to the wall after any further significant rise, it's going down to the next level which would be the $50 support.
At that point I have to wonder if there will be enough downward momentum to break through it.
April 17, 2013, 07:31:27 PM
There's still a million dollar wall at $70. What are the chances that someone will get us past that?
I'd say 100% when it's pulled.
This. The big walls are time and time again just illusions. We approach them and they disappear. How often do they actually get eaten through? I don't have faith right now that the support moving up is real support. Price crashes 81% in less than a week and we are stabilized / on an uptrend like a day later?
Sure, big walls can be pulled, but how much does it matter? The $1M wall at $70 now has $4.5M (and rising) of support in front of it. It's not like the current price is being held up by one person.
April 17, 2013, 07:28:16 PM
There's still a million dollar wall at $70. What are the chances that someone will get us past that?
I'd say 100% when it's pulled.
This. The big walls are time and time again just illusions. We approach them and they disappear. How often do they actually get eaten through? I don't have faith right now that the support moving up is real support. Price crashes 81% in less than a week and we are stabilized / on an uptrend like a day later?
April 17, 2013, 07:12:24 PM
There's still a million dollar wall at $70. What are the chances that someone will get us past that?
I'd say 100% when it's pulled.
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