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

[JayJuanGee]

So who are you going to listen to?

No one.

Ghost busters!!!!

[spooderman]

So tomorrow the auction happens? And then we go to teh moon? Or we drop? Or we carry on flirting with the high 500s?

[magicmexican]

So tomorrow the auction happens? And then we go to teh moon? Or we drop? Or we carry on flirting with the high 500s?

Crushing to single digits first, then a bounce to 100k

[Raystonn]

So tomorrow the auction happens? And then we go to teh moon? Or we drop? Or we carry on flirting with the high 500s?

Crushing to single digits first, then a bounce to 100k

That would be a hilarious way to remove all margin traders from the next ride up.  When we say hold coins off-exchange, we mean it!

[empowering]

So tomorrow the auction happens? And then we go to teh moon? Or we drop? Or we carry on flirting with the high 500s?

I just got a note through the door from next doors monkey:

"Tomorrow more markets being markets.. auction happens, rumor mill starts, moody weekend, Monday - winning bidders find out they won, Monday tuesday rumor mill going nuts , buying pressure may resume, some possible "leaks" with some possible "proof"  and turns out.... the BTC sold to pretty near the market price (within 10%)  followed by some market tomfoolery for a day or two, and a week or so down the line it is all about what X is going to do with their new coins, and some China ban bitcoin news, some shitty pants news about HGash, and then within the month there is gonna be some crazy buying pressure , followed by some selling pressure...the monkey says that there are bananas forming on the charts,   buy your tickets now.

ps- give me the fucking banana now"

I do not trust this monkey anymore than I trust any monkeys, especially the ones with clothes on.

edit: I want and hope the auction goes over >10% of the market price, but want and hope do not mean shit though.

[fonzie]

I´m feelin a bit bullish lately, anyone else? Shorts closed, BTC bought, tempted to hit leverage long if we should break 590-600$ 

[ChartBuddy]

Explanation

[Raystonn]

I´m feelin a bit bullish lately, anyone else? Shorts closed, BTC bought, tempted to hit leverage long if we should break 590-600$ 

Oh come on.  You're not giving me a chance to watch you miss the train.  I've got to say though, classic talking the market down while you accumulate.  I think you just made it in time.

[atp1916]

I´m feelin a bit bullish lately, anyone else? Shorts closed, BTC bought, tempted to hit leverage long if we should break 590-600$ 

Anything under 600 is an autobuy in my book.

[tarmi]

I´m feelin a bit bullish lately, anyone else? Shorts closed, BTC bought, tempted to hit leverage long if we should break 590-600$ 

Oh come on.  You're not giving me a chance to watch you miss the train.  I've got to say though, classic talking the market down while you accumulate.  I think you just made it in time.

he will miss the train, dont you worry.

but in the opposite direction.

[JorgeStolfi]

http://www.forbes.com/sites/kashmirhill/2014/06/26/bitcoin-bitstamp/

"We’re the backbone of the entire Bitcoin industry,” says Kodrič, 25, who’s wearing a black t-shirt with “Zero Excuses” in fluorescent green capital letters. “The wallet services, ATM machines, mining companies all rely on us. The price of Bitcoin is the de facto price on Bitstamp. We’re the to-go exchange.”

Is this the guy?

[Raystonn]

I´m feelin a bit bullish lately, anyone else? Shorts closed, BTC bought, tempted to hit leverage long if we should break 590-600$ 

Oh come on.  You're not giving me a chance to watch you miss the train.  I've got to say though, classic talking the market down while you accumulate.  I think you just made it in time.

he will miss the train, dont you worry.

but in the opposite direction.

So you're predicting a Bitcoin crash?

[uhoh]

I´m feelin a bit bullish lately, anyone else? Shorts closed, BTC bought, tempted to hit leverage long if we should break 590-600$ 

 

[Krabby]

I´m feelin a bit bullish lately, anyone else? Shorts closed, BTC bought, tempted to hit leverage long if we should break 590-600$ 

 

uhoh

[ErisDiscordia]

All human systems will be gamed.

A quick ride to 800 is not all that unlikely, after the auction.  It is major resistance after all.  I would expect an initial continuation of the down-trend, as those who want the auction to pump the market are disappointed, and give up.  When they are done, and the fiat is warmed up, then the upside will be seen.

Look at the last two swings.  The upswing was quite rapid, and the downswing relatively gradual.  Most people are trained on equities.  They know that bull markets are gradual things, climbing a proverbial wall of worry, while bear markets are panic driven, often rapid, sometimes sudden.  But in pair trades like BTCUSD, either component can be in a bull or bear market, so inverting the chart, we see that the current condition is characteristic of a bullish swing in USD, following a quick bearish swing during the latter part of May.  I would not extend this interpretation to the November spike because the topping phase of a hype cycle is a very different dynamic, with different motivations.  

What I draw from this is that holders of BTC have a need of USD.  Given the volumes we are seeing, it might even be that a single seller is driving the trend.  The 500/8hr guy finally succumbed to his wife's insistence on diversifying into u.s. equity mutual funds like all the "wise" financial advice (propaganda) would insist. (Sorry dude, you are doomed now, unless you can hold those funds until 2040 and USD can last that long.)

I don't think the USD bull market can last much longer.  USDJPY is certainly turning.  Very different dynamics, of course, but post-SCO outlook for USD is changing rapidly on several fronts.  Faith in ECB persists while faith in FRB is flagging.  Trade is being re-denominated (and simultaneously shrinking) so that US fiat exports face lower demand.  RMB floats in 2015.  Iran is exporting a lot of oil to China now.  

I'm simplifying for brevity, telling a story by telegraphy.

Thanks for this. Don't you and monkey want to have your own thread? I enjoy reading your thoughts. It triggers many associations and thought processes and I get interested in new things

[aminorex]

Don't you and monkey want to have your own thread?

I couldn't maintain it.  I can't even own a pet.  Thus the monkey ends up in the catch-all spec thread.

[Bronstad]

I´m feelin a bit bullish lately, anyone else? Shorts closed, BTC bought, tempted to hit leverage long if we should break 590-600$ 

[ChartBuddy]

Explanation

[TooDumbForBitcoin]

I can't even own a pet.

So between you and monkey, who is the owner?

[fonzie]

Nice dump @ LTC/BTC