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

[samson]

You guys gonna buy the $92 wall or not?

Not buying with that big RSI divergence.
If it corrects at all like the last one, it is going to be ugly.

I'm ready 

[1714219786]

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[1714219786]

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[ElectricMucus]

Must - resist - short - selling.

[Its About Sharing]

Must - resist - short - selling.

[Loozik]

Guys, check my charts above, we have a huge BEARISH RSI divergence and look at how violent the last one was (triangle area in my pic - look what followed that divergence with RSI)

I am not an expert on indicators, but isn't the divergence you spotted a hidden bullish divergence? It certainly isn't a regular divergence (indicating bearishness).

[Walsoraj]

The question is though - what has changed since January? Granted, exposure has certainly increased - does that mean BTC is worth 6 times more, 7 months later?

During whole of its history it has been worth "not much" and dissecting the current price movements that (literally) I can create at will, does not lead us anywhere.

 

[Its About Sharing]

Guys, check my charts above, we have a huge BEARISH RSI divergence and look at how violent the last one was (triangle area in my pic - look what followed that divergence with RSI)

I am not an expert on indicators, but isn't the divergence you spotted a hidden bullish divergence? It certainly isn't a regular divergence (indicating bearishness).

That was my first thought so I posed the question on tradingview.com and a couple of guys said it was bearish.
That is confirmable by looking at the last divergence like that (look at the triangle area). - Big drop afterwards.
Nothing is in stone of course. I'm just watching.

[Tzupy]

If someone really wants to buy lots of BTC before a certain financial crysis hits (Portugal, Ireland, whatever), then it might be possible
we'll see a pump-up to 95-100, but not more, because the sellers are desperate to unload their BTC above 100.
OTOH if we look at past charts, it seems likely to have a major drop from 90 to 75, then a small rebound to 80, and another drop to 65-70,
where the buying intentions are still very strong (for now). This major drop may happen even after a pump-up to 95-100, if the
expected financial crysis doesn't become news. Because then we might see BTC up to 200+. This suspense is starting to annoy me...

[Richy_T]

One thing's for sure, the governments of the world are incapable of preventing themselves from printing more money. Even if they wanted to, they've gone too far to stop. With all the problems with the economy(s) at the moment, they can't even stop spending more money, let alone spend less to allow the real economy to catch a breath and recover.

You may feel that that is relevant to Bitcoin or not but it's certainly is something to bear in mind.

[ChartBuddy]

[molecular]

rpietila's online
BUY BUY BUY

NO NO! Wait until he stops taking his meds (which he promised not to do, but who knows).

(sorry rpietila if you feel it's inappropriate to make jokes about that I will apologize)

[molecular]

You guys gonna buy the $92 wall or not?

Not buying with that big RSI divergence.
If it corrects at all like the last one, it is going to be ugly.

I'm ready 

Everyone seems to be "ready". This could mean it wont happen. The market likes to surprise everyone

[samson]

If someone really wants to buy lots of BTC before a certain financial crysis hits (Portugal, Ireland, whatever), then it might be possible
we'll see a pump-up to 95-100, but not more, because the sellers are desperate to unload their BTC above 100.
OTOH if we look at past charts, it seems likely to have a major drop from 90 to 75, then a small rebound to 80, and another drop to 65-70,
where the buying intentions are still very strong (for now). This major drop may happen even after a pump-up to 95-100, if the
expected financial crysis doesn't become news. Because then we might see BTC up to 200+. This suspense is starting to annoy me...

It won't make any difference to Bitcoin if 'Portugal, Ireland or whatever' as you put it go bust tomorrow.

These are tiny bankrupt countries where the people have no money due to their economy being broken for years now.

[samson]

You guys gonna buy the $92 wall or not?

Not buying with that big RSI divergence.
If it corrects at all like the last one, it is going to be ugly.

I'm ready 

Everyone seems to be "ready". This could mean it wont happen. The market likes to surprise everyone

I'm ready for that too

[molecular]

If someone really wants to buy lots of BTC before a certain financial crysis hits (Portugal, Ireland, whatever), then it might be possible
we'll see a pump-up to 95-100, but not more, because the sellers are desperate to unload their BTC above 100.
OTOH if we look at past charts, it seems likely to have a major drop from 90 to 75, then a small rebound to 80, and another drop to 65-70,
where the buying intentions are still very strong (for now). This major drop may happen even after a pump-up to 95-100, if the
expected financial crysis doesn't become news. Because then we might see BTC up to 200+. This suspense is starting to annoy me...

It won't make any difference to Bitcoin if 'Portugal, Ireland or whatever' as you put it go bust tomorrow.

These are tiny bankrupt countries where the people have no money due to their economy being broken for years now.

I disagree. These countries may be comparably small, but there would (will?) be huge effects on global financial markets, the political playing field and the emotional state of the population (not only of the respective country) if one of them defaults. Like it or not: bitcoin is part of the global financial market.

I think if that happens, Bitcoin just goes KABOOOUUUuuMUahahaaaahahahhaaaaa!

[MoreFun]

There seems to be kind of strange behaviour at Bitstamp - price drop for $3,6 all of the sudden and site is working really slow - DDOS maybe? 

[meanig]

It won't make any difference to Bitcoin if 'Portugal, Ireland or whatever' as you put it go bust tomorrow.

These are tiny bankrupt countries where the people have no money due to their economy being broken for years now.

Irish banks hold approximately €150 billion of retail customer deposits. That's an average of €60,000 per adult. Hardly a case of people having no money. There's plenty of rich baby boomers who could potentially invest in Bitcoin if another country has depositor haircuts. Alas unfortunately I feel they might put it into property instead 

Also in absolute terms (repeat ABSOLUTE TERMS) Ireland has the eighth highest external debt in the world at $2.3 trillion. Ireland going down the toilet could cause a ripple around the world.

http://en.wikipedia.org/wiki/List_of_countries_by_external_debt

[FNG]

If someone really wants to buy lots of BTC before a certain financial crysis hits (Portugal, Ireland, whatever), then it might be possible
we'll see a pump-up to 95-100, but not more, because the sellers are desperate to unload their BTC above 100.
OTOH if we look at past charts, it seems likely to have a major drop from 90 to 75, then a small rebound to 80, and another drop to 65-70,
where the buying intentions are still very strong (for now). This major drop may happen even after a pump-up to 95-100, if the
expected financial crysis doesn't become news. Because then we might see BTC up to 200+. This suspense is starting to annoy me...

It won't make any difference to Bitcoin if 'Portugal, Ireland or whatever' as you put it go bust tomorrow.

These are tiny bankrupt countries where the people have no money due to their economy being broken for years now.

Altough I don't think countries going bankrupt automatically assume we see a rush to bitcoin I think you're mistaken in the size of the bitcoin market. "The people have no money" 1 person worth 8 figures could drive the bitcoin market upwards. The amount on the market is miniscule and many sellers have already blown their load.

[rpietila]

Altough I don't think countries going bankrupt automatically assume we see a rush to bitcoin I think you're mistaken in the size of the bitcoin market. The amount on the market is miniscule and many sellers have already blown their load.

+1.

By going up about 5%, Silver just increased its market cap 20 times more than the total of bitcoin's market cap. Silver is tiny, so bitcoin is minuscule.

[wachtwoord]

Altough I don't think countries going bankrupt automatically assume we see a rush to bitcoin I think you're mistaken in the size of the bitcoin market. The amount on the market is miniscule and many sellers have already blown their load.

+1.

By going up about 5%, Silver just increased its market cap 20 times more than the total of bitcoin's market cap. Silver is tiny, so bitcoin is minuscule.

Always nice to see things in perspective. At the same time Bitcoin is vastly superior to any PM. A discrepancy which the market will eventually correct

[hahahafr]

When MtGox finally goes down and Bitcoin is used as it was meant to be, what would you guys do?