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

[Searing]

Bulls still have plenty of money.  They are sitting on the sidelines waiting for either: a) the bottom of this slide, or b) significant upward momentum.  It feels pointless to buy now because there is a 90% chance we will slide another $15 and there is zero chance the price will hit even $600 soon.  Everyone is discouraged.

well maybe this is obvious..but imho it is all the large mining farms that are cashing out bitcoin each day to usd (less likely to hold bitcoin)

thus a slow leak/drain to the bitcoin price boat so to speak..small miners also have to pay expenses so maybe that too usually also in usd

the other part is low volume...adoption has kinda lagged (if you go by news media the attention has lagged anyway)

so you get a position of good news keeps the price we have very minor bad news dumps it at least $20 and the drain of selling btc to usd each day from  large ph farms

cashing out from btc to usd continues....ie not enough volume for whatever reason...and the slow drain to usd from large miner farms imho is the so called 'leak' of sorts

(and just the continued selling and making of more miners) it all adds to imho to this slow drip...down in price....and thus further reduces newbie interest etc

I mean myself and I assume others are holding but I'm not buying anymore...full/fat and happy at the current time..so new folks/investements are need to jump start this again
imho..just not enough of it from what I can tell at this time

beat me up I likely don't know what I'm talking about...

as we sit here in limbo...neutral in good news/bad news..price stagnation

then of course really bad news tanks the price really good news (like dell taking bitcoin) keeps the price treading water....sigh

brighter folks then me on here but that is how I see it....hopefully the ETF by the facebook twins and a nice announcement of Ebay/Paypal  taking
bitcoin (please in star trek talk: "make it so")....this may just go on for more then a few months with slippage each month..the

"bitcoin price doldrums"

my 2c worth

Searing

[iram3130]

The wall is falling.

lol, where you are watching, where is wall falling, I am not seeing any movement on Bitstamp.
There is nothing happening on market, it's just stuck.

[ChartBuddy]

Explanation

[falllling]

time to drop your unrealistic hope

[amit123]

Bulls still have plenty of money.  They are sitting on the sidelines waiting for either: a) the bottom of this slide, or b) significant upward momentum.  It feels pointless to buy now because there is a 90% chance we will slide another $15 and there is zero chance the price will hit even $600 soon.  Everyone is discouraged.

If you you say the chance is zero it will be easy to organize a bet between us. How about my 0.01BTC versus your 10 BTC that the price will be above $600 within 2 weeks?

0.01btc vs 10btc , sounds fair considering the odds of btc going over 600$ is 0% according to Sandia. If I'll bet 0.02btc for 10btc .

[fonzie]

[ChartBuddy]

Explanation

[johnwest]

Good fonzie, you changed yourself so much from bears to bulls and thinking about stability.

[fonzie]

BTC-E almost above Huobi!  

Edit: maybe just due to people switching from LTC to BTC

Good night little chicken!

[Dump3er]

BTC-E almost above Huobi!  

Edit: maybe just due to people switching from LTC to BTC

Good night little chicken!

What's going on with litecoin? HAVE YOU TROLLED THEM?!

[fonzie]

BTC-E almost above Huobi!  

Edit: maybe just due to people switching from LTC to BTC

Good night little chicken!

What's going on with litecoin? HAVE YOU TROLLED THEM?!

I sadly lost the 2FA for my BTC-e LTC troll account named "LTCvictim"
Therefore i am not guilty.

Oh if LTC should die and all that money goes back into BTC we could probably reach a new ATH, even without the COIN ETF!
Die chicken die!

[tarmi]

I am not touching ltc anymore. last time I bought it was that houbi pump to 20 $.

ltc is so 2013.

[silverfuture]

BTC-E almost above Huobi!  

Edit: maybe just due to people switching from LTC to BTC

Good night little chicken!

What's going on with litecoin? HAVE YOU TROLLED THEM?!

I sadly lost the 2FA for my BTC-e LTC troll account named "LTCvictim"
Therefore i am not guilty.

Oh if LTC should die and all that money goes back into BTC we could probably reach a new ATH, even without the COIN ETF!
Die chicken die!

Good point. Once people find out en masse that altcoins are all shit and you can't go back to the super early adopter phase of bitcoin there will be a large move back to btc.  The ones who realise it first will profit the most. 

[JorgeStolfi]

Its as if the market, on whole, really wants to go down. Right now, there is selling action and almost no buying action outside of this wall.

Throughout the "mini-bubble" that started on May 20, until a week ago, I see the price as having drifted down most of the time.  Until a week ago, the price was pushed up and then sustained by a few sparse events of concentrated buying.  Since last week there seems to be a more calibrated effort to keep the price just above 3600 CNY/580 USD, by continuous buying around that level. That huge wall at 3600 on Huobi may be part of that effort. At least, that is my impression.  Without that stabilization effort, I would expect the price to continue drifting down towards the mid-May level.

[ChartBuddy]

Explanation

[Dump3er]

[wachtwoord]

Your username seems properly chosen. You are very wrong though

[Dump3er]

Your username seems properly chosen. You are very wrong though

I'm never wrong! You'll see...

[wachtwoord]

Your username seems properly chosen. You are very wrong though

I'm never wrong! You'll see...

Saying that 'because the last 4 small triangles broke to the downside the closing of the next big one will break to the downside too' is wrong. No mater whether it actually breaks up or down

[sickpig]

If you had described the situation to Orwell, he wouldn't have believed it.

You're right, on the other hand Huxley had foreseen precisely this exact scenario.