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Question: Sept. 21 Closing Price:
$0 - 3 (2.9%)
<$8,000 - 5 (4.9%)
$8,000-$8,500 - 1 (1%)
$8,500-$9,000 - 2 (1.9%)
$9,000-$9,500 - 5 (4.9%)
$9,500-$10,000 - 6 (5.8%)
$10,000-$10,500 - 22 (21.4%)
$10,500-$11,000 - 20 (19.4%)
$11,000-$11,500 - 19 (18.4%)
$11,500-$12,000 - 6 (5.8%)
>$12,000 - 8 (7.8%)
>$20,000 - 6 (5.8%)
Total Voters: 103

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Author Topic: Wall Observer BTC/USD - Bitcoin price movement tracking & discussion  (Read 21374266 times)
This is a self-moderated topic. If you do not want to be moderated by the person who started this topic, create a new topic. (106 posts by 21 users deleted.)
Ultraviolet
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June 07, 2013, 02:45:40 PM
 #13941

This current bearish trend isn't going to stop until the price falls to the point that the market regains its previously reasonable trading volume. Most of May was characterized by no-volume "stability", with the price only floating 110+ because of systematic large buys by major players coupled with bot action producing an illusion of trading volume during periods of no-volume. The roll to 135 was nothing like the roll from 110-165 in post-crash April, where volume was high, there was constant trading, and Gox still had a deep verification queue with millions in fiat being wired while almost nothing got withdrawn.

This fall will have a lot of bull traps with people feeling that lower lows are cheap coins.

BTC was absolutely not post-bubble "stable" 110+ amidst no trading volume after trading for the rest of its existence sub $50. It's just currently an incredibly manipulated market where anyone with a few mega can have a huge short-term influence that produces illusions for smaller positions and makes money for their own.
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June 07, 2013, 02:52:49 PM
 #13942

This current bearish trend isn't going to stop until the price falls to the point that the market regains its previously reasonable trading volume. Most of May was characterized by no-volume "stability", with the price only floating 110+ because of systematic large buys by major players coupled with bot action producing an illusion of trading volume during periods of no-volume. The roll to 135 was nothing like the roll from 110-165 in post-crash April, where volume was high, there was constant trading, and Gox still had a deep verification queue with millions in fiat being wired while almost nothing got withdrawn.

This fall will have a lot of bull traps with people feeling that lower lows are cheap coins.

BTC was absolutely not post-bubble "stable" 110+ amidst no trading volume after trading for the rest of its existence sub $50. It's just currently an incredibly manipulated market where anyone with a few mega can have a huge short-term influence that produces illusions for smaller positions and makes money for their own.

+1

Couldn't have put it in a more clear and succinct maner. The bubble popped, but the price is still artificial. Real exponential price of Bitcoin is around 45+ USD. This is typical of bubbles bursting. Big chunk of the price goes down relatively fast, but then there is a slow downward trend that can take months until we reach the real price again.
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June 07, 2013, 02:54:25 PM
 #13943

[...]

Read your post and your predictions backwards  and.... you should leave the irony aside

You mean:

Quote
The very worst I can see is approaching 50 again, and more realistically, that we'll test 100 a few more times in the coming month(s).

this morning. Or 2 days ago:

Quote
In any case, I don't think we'll fall back to 50, and certainly not sub-30. I can see us going back to 60-80, though, I admit :/

Or maybe the topic I created ~5 days ago, titled

Quote
50 -> 80 -> 100 -> 115? 110? Call me again if we go below 100 again.

in which I said that people from both sides are way too fast to declare "up uP UP" or "down Down DOWN", and that the next important level to break before talking about 80, or even 50 USD coins would be 100.

Anyway. Do as you please. Just learn to read, maybe.
niothor
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June 07, 2013, 02:57:29 PM
 #13944

[...]

Read your post and your predictions backwards  and.... you should leave the irony aside

You mean:

Quote
The very worst I can see is approaching 50 again, and more realistically, that we'll test 100 a few more times in the coming month(s).

this morning. Or 2 days ago:

Quote
In any case, I don't think we'll fall back to 50, and certainly not sub-30. I can see us going back to 60-80, though, I admit :/

Or maybe the topic I created ~5 days ago, titled

Quote
50 -> 80 -> 100 -> 115? 110? Call me again if we go below 100 again.

in which I said that people from both sides are way too fast to declare "up uP UP" or "down Down DOWN", and that the next important level to break before talking about 80, or even 50 USD coins would be 100.

Anyway. Do as you please. Just learn to read, maybe.

Again the irony ,  but go a bit deeper , with your research , something about the 120 not to be tested again ever?
Besides , when I told you about your prediction don't you think I looked in your history before?

Start editing.. Smiley

Actually , that was an insult , and that brings you to an even lower level in my eyes.

 
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June 07, 2013, 03:00:13 PM
 #13945

This current bearish trend isn't going to stop until the price falls to the point that the market regains its previously reasonable trading volume. Most of May was characterized by no-volume "stability", with the price only floating 110+ because of systematic large buys by major players coupled with bot action producing an illusion of trading volume during periods of no-volume. The roll to 135 was nothing like the roll from 110-165 in post-crash April, where volume was high, there was constant trading, and Gox still had a deep verification queue with millions in fiat being wired while almost nothing got withdrawn.

This fall will have a lot of bull traps with people feeling that lower lows are cheap coins.

BTC was absolutely not post-bubble "stable" 110+ amidst no trading volume after trading for the rest of its existence sub $50. It's just currently an incredibly manipulated market where anyone with a few mega can have a huge short-term influence that produces illusions for smaller positions and makes money for their own.

Absolutely agree.
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June 07, 2013, 03:04:58 PM
 #13946

Finally , 109 , I was running out of popcorn.
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June 07, 2013, 03:06:00 PM
 #13947

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June 07, 2013, 03:13:11 PM
 #13948

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June 07, 2013, 03:20:07 PM
 #13949

This current bearish trend isn't going to stop until the price falls to the point that the market regains its previously reasonable trading volume. Most of May was characterized by no-volume "stability", with the price only floating 110+ because of systematic large buys by major players coupled with bot action producing an illusion of trading volume during periods of no-volume. The roll to 135 was nothing like the roll from 110-165 in post-crash April, where volume was high, there was constant trading, and Gox still had a deep verification queue with millions in fiat being wired while almost nothing got withdrawn.

This fall will have a lot of bull traps with people feeling that lower lows are cheap coins.

BTC was absolutely not post-bubble "stable" 110+ amidst no trading volume after trading for the rest of its existence sub $50. It's just currently an incredibly manipulated market where anyone with a few mega can have a huge short-term influence that produces illusions for smaller positions and makes money for their own.

Great post. I'm beginning to come around to this way of thinking. Low volume has signaled a lack of enthusiasm, and we've lost a few easy ways to get new money into coin (Bitfloor, Dwolla, etc.) over a short period of time.
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June 07, 2013, 03:21:27 PM
 #13950

3 lower highs, 3 lower lows. So the wedge did break downward. How far will we go?!  Smiley
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June 07, 2013, 03:22:17 PM
 #13951

Whale who sold 25k must be happy right about now.
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June 07, 2013, 03:24:25 PM
 #13952

Whale who sold 25k must be happy right about now.


Well , if he buys back he will make a lot of people happy...
Or isn't money made just for that?
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June 07, 2013, 03:24:48 PM
 #13953

This current bearish trend isn't going to stop until the price falls to the point that the market regains its previously reasonable trading volume. Most of May was characterized by no-volume "stability", with the price only floating 110+ because of systematic large buys by major players coupled with bot action producing an illusion of trading volume during periods of no-volume. The roll to 135 was nothing like the roll from 110-165 in post-crash April, where volume was high, there was constant trading, and Gox still had a deep verification queue with millions in fiat being wired while almost nothing got withdrawn.

This fall will have a lot of bull traps with people feeling that lower lows are cheap coins.

BTC was absolutely not post-bubble "stable" 110+ amidst no trading volume after trading for the rest of its existence sub $50. It's just currently an incredibly manipulated market where anyone with a few mega can have a huge short-term influence that produces illusions for smaller positions and makes money for their own.

Great post. I'm beginning to come around to this way of thinking. Low volume has signaled a lack of enthusiasm, and we've lost a few easy ways to get new money into coin (Bitfloor, Dwolla, etc.) over a short period of time.

It's not just that.  Low volume is an indication that the actual Bitcoin economy isn't running.  The only activity I see on the depth window are the last remaining trading bots.  I mean, how is someone supposed to get a few bucks into MtGox to buy something on SilkRoad or wherever?  The Bitcoin price went from being 99% speculation, to being 99.999% speculation.  I'd love to know how SilkRoad sales have been impacted with the closure of LR, MtGox-Dwolla, etc...  At this rate, it's a long long way down...
El Cabron
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June 07, 2013, 03:25:31 PM
 #13954

well, i might be able to buy back in after all!

i have not paid for that lambo yet!
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June 07, 2013, 03:25:37 PM
 #13955

The second low from 112 to 109.5 is due to manipulator with 2.5k sell wall pushing down the price..i myself got caught Sad Thought was that stupid 6k seller again
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June 07, 2013, 03:27:46 PM
 #13956


It's not just that.  Low volume is an indication that the actual Bitcoin economy isn't running.  The only activity I see on the depth window are the last remaining trading bots.  I mean, how is someone supposed to get a few bucks into MtGox to buy something on SilkRoad or wherever?  The Bitcoin price went from being 99% speculation, to being 99.999% speculation.  I'd love to know how SilkRoad sales have been impacted with the closure of LR, MtGox-Dwolla, etc...  At this rate, it's a long long way down...

LR.... Silkroad?
wtf they have in common?
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June 07, 2013, 03:31:45 PM
 #13957

Anyone seeing a trend with these 5 am dumps?
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June 07, 2013, 03:33:51 PM
 #13958

awww, look at the bears coming out of the woodwork... agreeing with each other how obvious all of this was.

'k. Put your money where your mouth is and make a prediction where this trend takes us, short term. Everything else ("Silk road ... yadda yadda ... Bitcoin economy... wasn't stable in May after all") is just cheap talk.

I'll begin: within the next 24 hours, price won't go significantly below 100. If it falls below 100, it will rebound sharply to a value above 100 shortly afterwards. More likely though, we'll continue trading around 110.

Your turn :)
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June 07, 2013, 03:35:41 PM
 #13959

And.... Here..... We...... Go......

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June 07, 2013, 03:35:52 PM
 #13960

It's just miners selling their day profits

These are not speculators selling yet, they are holding dearly to their bitcoin all the way down

Because we see 8k dumps every day from miners right.
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