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

[Richy_T]

http://www.zerohedge.com/news/2014-05-16/where-worlds-unsold-cars-go-die

Snopes has this as "false" but it seems like a rather weak and hand-waving debunk to me.

http://jalopnik.com/that-zero-hedge-article-on-unsold-cars-is-bullshit-1578124255

They pull apart about 1/3 of the article and call it done. There are certainly some inaccuracies in the article but that doesn't dismiss the whole thing.

[1714804177]

1714804177

[xyzzy099]

http://www.zerohedge.com/news/2014-05-16/where-worlds-unsold-cars-go-die

Snopes has this as "false" but it seems like a rather weak and hand-waving debunk to me.

http://jalopnik.com/that-zero-hedge-article-on-unsold-cars-is-bullshit-1578124255

They pull apart about 1/3 of the article and call it done. There are certainly some inaccuracies in the article but that doesn't dismiss the whole thing.

It's a very well-known fact that there is massive overcapacity in the European automotive industry - just google 'european automotive overcapacity' to see tons of stories on that.  The only way to fix this problem is to shut down automotive plants, each of which provides thousands of high-wage jobs.  I would not be shocked at all to find out that some European government entities were covertly subsidizing overproduction just to keep their local plant(s) open.  Pure speculation, of course - but it would make a lot of sense.

[ChartBuddy]

Explanation

[Torque]

No Aston Martins, Ferraris, Maserati or Lambo's.    I'm not going to waste my BTC on a Volkswagen.
Car market not ready for bitcoin

Love my TDI but I've just about run it into the ground. Time for a refresh. I won't use my stash though. It would have to be a buy BTC then spend.

Same here, absolutely love my 2006 Jetta GLI.  Still only has 92K miles.  Would buy another VW in a heartbeat.

[hmmmstrange]

http://www.zerohedge.com/news/2014-07-09/portugals-largest-bank-misses-bond-payment-bonds-collapse

Link says it all. Could Portugal be the next Cyprus...........

[altsay]

http://www.zerohedge.com/news/2014-07-09/portugals-largest-bank-misses-bond-payment-bonds-collapse

Link says it all. Could Portugal be the next Cyprus...........

Good. Get ready to see tall spikes on the chart.

[hdbuck]

http://www.zerohedge.com/news/2014-07-09/portugals-largest-bank-misses-bond-payment-bonds-collapse

Link says it all. Could Portugal be the next Cyprus...........

that'd be my winning lottery ticket:

1/ greece
2/ portugal
3/ italy
4/ spain
5/ france

and the extra bonus: UK out of EU

[Dragonkiller]

Pathetic volume is pathetic.

[ChartBuddy]

Explanation

[Torque]

Pathetic volume is pathetic.

It's still the summer time, all the drones are still spending money on vacations, clubbing, gin n' tonics, and home beautification projects like landscaping.  

Wheee!  I'm a consumer, and I can spend money today!  Wheeee!  Look at me go!  I'll be no better off in 20 years, but I don't care!  Wheee!  Investing, what's investing??
 

[Sicarius1985]

Remember the end of may? Volume got very low. Will we see another buying spree when we hit the longterm trendline?

[Torque]

Remember the end of may? Volume got very low.

Whale Investors: "Sell in May and go away."

They won't come back until the Fall.

[Dragonkiller]

I believe the selling pressure is waning.

The sell wall is just growing.  8500 coins to $680 now.

[EuroTrash]

Remember the end of may? Volume got very low. Will we see another buying spree when we hit the longterm trendline?

Yup.
But I also remember mid-March, and the end of January. In both cases the volume went paperthin before another drop.

[wachtwoord]

Remember the end of may? Volume got very low. Will we see another buying spree when we hit the longterm trendline?

Yup.
But I also remember mid-March, and the end of January. In both cases the volume went paperthin before another drop.

October 2013

[Miz4r]

Remember the end of may? Volume got very low. Will we see another buying spree when we hit the longterm trendline?

Yup.
But I also remember mid-March, and the end of January. In both cases the volume went paperthin before another drop.

That was in the middle of a bear market, we're now just coming back out of it. We may slip back in but I think the probability of that is not very high considering all the good news.

[empowering]

[EuroTrash]

Also 1d MACD has crossed down while StochRSI seems undecided.
1d MACD, in hindsight, has been the most reliable indicator from Nov 2013 until now. Albeit we still need one day to confirm the crossing. Besides, indicators generally keep working until they don't.

Moving onto the weekly charts, I kind of have some deja-vus from August 2013. Also my own feelings now match those I had at the time. The market was going sideways; I got annoyed at myself for making a couple of wrong trading moves, then decided to move most of my coins to cold storage (except for some pocket money) and forget about trading personally for a while. So that I missed the SR-event slaughter (and probably that was a good thing).

TLDR: conflicting signals and faith in long term success make me want to stay in coins and forget trading for a while.

BTW I'd love to know what oda.krell's reversal index says today.

[minerpumpkin]

That looks like a friggin snake!

[ChartBuddy]

Explanation