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

[janos666]

Explanation

This orderbook seems so cheesely prefabricated... dumpage incoming!

Looks like a tsunami to me, that usually mean we would go up

These new kind of walls they have been building lately seem to be electromagnetic. They always pull in the front line, never push it away.

[1714662993]

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[1714662993]

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[Fatman3001]

with so many good news... i dare you dumper... i dare you bahahahahaha

Elliot Insurance Brokers announced that it will now allow clients to pay for their insurance and other financial products through Bitcoin.

Good news is poison to Bitcoin.

rubbish

Good news causes movement. Lately (2014) that movement has been down. There are more traders who want to short the heck out of Bitcoin than people with deep pockets who believe in Bitcoin enough to put their money where their mouth is.

will that trend continue ?

Why would it? Rich people are rich because they have made more good investments than bad, so why would a majority of them choose to buy a depreciating asset with no other use case than speculation?

It cannot be reliably used as a currency. What other currency at the moment tends to drop 30% every time there is a day in a month? Russia? It´s illegal there.

Even Zimbabwe and Argentina look like safe havens compared to Bitcoin.

Store of value? Pfffff.... Bitcoin lost half its value since July, If that happened with any conventional store of value people with ak47s would take over the country(whichever country you live in).

If the price could stay still for 3-6months, or consistently climb slowly, Bitcoin could get swept up by the recent interest in mobile phone payment systems like those presented by PayPal and Apple, but that looks unlikely.

I don´t want this to be the case but all I see in this and other threads is either pictures of bears on railway tracks or astronauts drinking beer on the moon. Any reasonably convincing argument is hard to find.

[findftp]

I just turned bearish for the first time in my bitcoin life.
I've always been permabull but I sold my trade stack (3% of total) for fiat a week ago
I think there is a long way down first, at least to 300. If 300 gets broken we will go to 200.
I remain holder for the rest of my coins because I'm in it for the experiment, not to make fiat.
I sold because I want to buy back more bitcoin and repair all my previous mistakes.
My trade stack only got less and less and less, I hope to be right once.

That said, we probably see a mega bubble soon because I'm really really poor in predicting bitcoin price.

[Wandererfromthenorth]

Explanation

This orderbook seems so cheesely prefabricated... dumpage incoming!

Looks like a tsunami to me, that usually mean we would go up

These new kind of walls they have been building lately seem to be electromagnetic. They always pull in the front line, never push it away.

When big walls and chunks of support are placed quite lower than current market price, it's a bearish signal not bullish.
It means that the market is betting on the price to go there and test those lows.

[podyx]

Explanation

This orderbook seems so cheesely prefabricated... dumpage incoming!

Looks like a tsunami to me, that usually mean we would go up

These new kind of walls they have been building lately seem to be electromagnetic. They always pull in the front line, never push it away.

When big walls and chunks of support are placed quite lower than current market price, it's a bearish signal not bullish.
It means that the market is betting on the price to go there and test those lows.

Well... We all know how the market moves.
It moves in such a way that will make as many investors as possible lose as much money as possible.

When there's alot of bids just right infront of the bitcoin price however and flattened after, then that is usually a bearish sign

[Wandererfromthenorth]

Explanation

This orderbook seems so cheesely prefabricated... dumpage incoming!

Looks like a tsunami to me, that usually mean we would go up

These new kind of walls they have been building lately seem to be electromagnetic. They always pull in the front line, never push it away.

When big walls and chunks of support are placed quite lower than current market price, it's a bearish signal not bullish.
It means that the market is betting on the price to go there and test those lows.

Well... We all know how the market moves.
It moves in such a way that will make as many investors as possible lose as much money as possible.

When there's alot of bids just right infront of the bitcoin price however, then that is usually a bearish sign

?

[JorgeStolfi]

I miss rpietila. he was funny too.

what happend to him? no more coins?

It seems that he is running some sort of role-playing game, using Monero as the currency.
https://bitcointalk.org/index.php?topic=819073.0

He does not seem to be interested in bitcoin any more.

[Tzupy]

I miss rpietila. he was funny too.

what happend to him? no more coins?

It seems that he is running some sort of role-playing game, using Monero as the currency.
https://bitcointalk.org/index.php?topic=819073.0

He does not seem to be interested in bitcoin any more.

Interesting... He wants to pimp Monero with his game, until BTC would be replaced by Monero.
The functionality of the game is similar to one of my projects, but rpietila as King, I don't think so...

[podyx]

Did Risto sell his BTC?

[N12]

I miss rpietila. he was funny too.

what happend to him? no more coins?

It seems that he is running some sort of role-playing game, using Monero as the currency.
https://bitcointalk.org/index.php?topic=819073.0

He does not seem to be interested in bitcoin reality any more.

FTFY

All the delusional fools who have doubted the bear market for many months are vanishing or turning bearish, one by one. It's a good time to be a Bitcoin investor again, as opposed to a Bitcoin trader.

Keep doubting. Keep doubting the 5th of October.

[MrPiggles]

i just sold 90% of this months btc income which means the price is going to the moon because fuck me, thats why

[Tzupy]

Did Risto sell his BTC?

I don't know if he did, but I remember a couple of months ago when price was around 550$ he posted an offer to sell off-exchange.
When I highlighted his bearish stance (why would he sell if bitcoin was supposed to reach 5k$ by the end of 2014?) the permabulls dismissed that.

[inca]

Lot of fear mongering on here today. Underwater shorts?

[ChartBuddy]

Explanation

[Tzupy]

...
Keep doubting. Keep doubting the 5th of October.

You still bullish, Blitz? I agree that it's possible 275$ to hold and form a double bottom, but I find this unlikely. We should know for sure in about a week.

[JeffDeChesare]

It's stuck at 330 seem to be its new home.  

[N12]

What's this tell you?

[Tzupy]

Usually in a descending channel with lowering volume, the drop accelerates after a major support is broken.

[tarmi]

What's this tell you?

that you turned bullish way too early.

[N12]

Usually in a descending channel with lowering volume, the drop accelerates after a major support is broken.

My interpretation is that the bearish momentum is waning. It's looking unhealthy.

What's this tell you?

that you turned bullish too early.

<300 was too early?