Wall Observer BTC/USD - Bitcoin price movement tracking & discussion

[TeeBone]

Timber ?

[akujin]

Slow drop... boring... this needs a catalyst 

[windjc]

2660 is still holding as support on Houbi.

And by support, I mean in the way a 100 year old draw string bridge with 30% of its wood flooring missing acts as support.

Poetic, windy.  Gave me visions of an old Tarzan movie.  He fell in and had to wrestle a croc.  Watch your step.   

This market is just DYING for some bad news. It can't even keep itself up in anticipation of it. We are just going to drift lower, bouncing at 2650, 2600, 2555 and going back up each time, until we get some bad news to flush all this out.

Its like a leak in a bucket right now. It reminds me of the Gox situation, where we had like 9 daily red candles in a row, none of them big, just a slow mundane sell off, until finally the big news came.

[magicmexican]

Meh, maybe 2550 will hold

[OldGeek]

2660 is still holding as support on Houbi.

And by support, I mean in the way a 100 year old draw string bridge with 30% of its wood flooring missing acts as support.

Poetic, windy.  Gave me visions of an old Tarzan movie.  He fell in and had to wrestle a croc.  Watch your step.   

This market is just DYING for some bad news. It can't even keep itself up in anticipation of it. We are just going to drift lower, bouncing at 2650, 2600, 2555 and going back up each time, until we get some bad news to flush all this out.

Its like a leak in a bucket right now. It reminds me of the Gox situation, where we had like 9 daily red candles in a row, none of them big, just a slow mundane sell off, until finally the big news came.

Ya.  I'm pretty pessimistic about our current situation.  I know that all trends will eventually reverse (or maybe not), but I think the 1w and 3d trend says about all there is to say right now.

** Pessimism is a state of mind in which one anticipates undesirable outcomes.

[mah87]

have you read this article on coindesk ?
http://www.coindesk.com/fidor-becomes-first-bank-to-use-ripple-payment-protocol/

[windjc]

Meh, maybe 2550 will hold

It will bounce there, probably a couple of times, unless some news finally comes.

And its going to take its sweet time meandering to there anyway. Who knows how long all this goes on.

[BitAddict]

have you read this article on coindesk ?
http://www.coindesk.com/fidor-becomes-first-bank-to-use-ripple-payment-protocol/

I can't believe they are using that crap.
How much did they get paid for saying that?

[JorgeStolfi]

This market is just DYING for some bad news. It can't even keep itself up in anticipation of it. We are just going to drift lower, bouncing at 2650, 2600, 2555 and going back up each time, until we get some bad news to flush all this out.

The bad news are already out there: May/10 seems to be for real, one Chinese exchange already closed, and the CEOs of the other exchanges apparently can't find anything upbeat to say.  Not at all like a month ago, after the Caixin leak, when they thought that they had found workarounds.

I can't see why the price would not go below 2300 CNY (~375 USD) by the end of the week.  It got there on Apr/11, on mere rumors that this would happen...

[mah87]

have you read this article on coindesk ?
http://www.coindesk.com/fidor-becomes-first-bank-to-use-ripple-payment-protocol/

I can't believe they are using that crap.
How much did they get paid for saying that?

Maybe because ripple is not crap ? It's ok I think you'll change your mind when another bank will jump in, or maybe overtstock mark my words buddy

[cech4204a]

This market is just DYING for some bad news. It can't even keep itself up in anticipation of it. We are just going to drift lower, bouncing at 2650, 2600, 2555 and going back up each time, until we get some bad news to flush all this out.

The bad news are already out there: May/10 seems to be for real, one Chinese exchange already closed, and the CEOs of the other exchanges apparently can't find anything upbeat to say.  Not at all like a month ago, after the Caixin leak, when they thought that they had found workarounds.

I can't see why the price would not go below 2300 CNY (~375 USD) by the end of the week.  It got there on Apr/11, on mere rumors that this would happen...

maybe thats good news Chinese were eating s**t with BTC all the time

[windjc]

This market is just DYING for some bad news. It can't even keep itself up in anticipation of it. We are just going to drift lower, bouncing at 2650, 2600, 2555 and going back up each time, until we get some bad news to flush all this out.

The bad news are already out there: May/10 seems to be for real, one Chinese exchange already closed, and the CEOs of the other exchanges apparently can't find anything upbeat to say.  Not at all like a month ago, after the Caixin leak, when they thought that they had found workarounds.

I can't see why the price would not go below 2300 CNY (~375 USD) by the end of the week.  It got there on Apr/11, on mere rumors that this would happen...

Its going to take 1 or more of the big 3 exchanges saying they are shutting down or moving offshore.

The exchanges may not say anything. They may keep a few work arounds past May 10th.  Nothing is for certain.

This market really does act like it wants to here the news. Everyone is lining up to sell.

[rpietila]

This market is just DYING for some bad news. It can't even keep itself up in anticipation of it.

Maybe so. Let's see how many hours can it keep below 400...

[cech4204a]

This market is just DYING for some bad news. It can't even keep itself up in anticipation of it.

Maybe so. Let's see how many hours can it keep below 400...

i guess this is true, and this means that big raise is possible, once the bounce happens

[yenom]

If bitcoin goes down another 6 months, all the coins belong to the likes of me. You still think the price will go down afterwards?

I can see the headlines on CoinDesk now like the headlines in the early 1900s about Jesse Livermore:

Risto Pietila tries to corner bitcoin market

[mooncake]

Ya.  I'm pretty pessimistic about our current situation.  I know that all trends will eventually reverse (or maybe not), but I think the 1w and 3d trend says about all there is to say right now.

** Pessimism is a state of mind in which one anticipates undesirable outcomes.

This is one pessimistic comment. More of such comment must be expected before a reversal.

[windjc]

This market is just DYING for some bad news. It can't even keep itself up in anticipation of it.

Maybe so. Let's see how many hours can it keep below 400...

I don't need hours. I need minutes. That how long it takes to sell a bunch of shorts and buy some longs. 

Until the next mindless pump. Then, rinse and repeat.

Meanwhile, while we go to 270 and maybe below, your idea of "buying all the bitcoins" is exactly what we don't need. We need more bitcoins in the hands of more people, not less.

[windjc]

Ya.  I'm pretty pessimistic about our current situation.  I know that all trends will eventually reverse (or maybe not), but I think the 1w and 3d trend says about all there is to say right now.

** Pessimism is a state of mind in which one anticipates undesirable outcomes.

This is one pessimistic comment. More of such comment must be expected before a reversal.

All you need to do is look at the poll in this thread (over 63% of people feel some shade of positive or nothing at all). The optimism here is still off the charts. Its like people refuse to believe that we could be going lower, much lower.

I saw some pain in the Gox fallout, but since then its been sickeningly optimistic - and I mean sickeningly because everyone thought that they were so clever and that the bottom was in and magically fresh fiat would arrive to save the day.

Everyone is still in denial (which is exactly what I voted for in the poll).  Bring on the pain. You guys want this market to go up again?? ---> then welcome the pain.

[cech4204a]

Ya.  I'm pretty pessimistic about our current situation.  I know that all trends will eventually reverse (or maybe not), but I think the 1w and 3d trend says about all there is to say right now.

** Pessimism is a state of mind in which one anticipates undesirable outcomes.

This is one pessimistic comment. More of such comment must be expected before a reversal.

All you need to do is look at the poll in this thread. The optimism here is still off the charts. Its like people refuse to believe that we could be going lower, much lower.

I saw some pain in the Gox fallout, but since then its been sickeningly optimistic - and I mean sickeningly because everyone thought that they were so clever and that the bottom was in and magically fresh fiat would arrive to save the day.

Everyone is still in denial (which is exactly what I voted for in the poll).  Bring on the pain. You guys want this market to go up again?? ---> then welcome the pain.

as you speak more and more new people are adopting BTC, so global acceptance is growing, maybe price will fall but not much, there is everyone ready for jump, thats why optimism.

[akujin]

What if another gox-like dump happen? 62% drop from 430 = hello 266.. LOL!