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

[ChartBuddy]

[1714205874]

1714205874

[1714205874]

1714205874

[1714205874]

1714205874

[ChartBuddy]

[ChartBuddy]

[Its About Sharing]

I can't remember seeing such a disparate price and money flow divergence in recent memory. The volume is not alarming but the divergence alone is. Look at other signs/indicators that you follow. The Gann guys have mentioned us coming against a wall as well. And we are just below the 100 day ema as well. Stoch turning down. We are sitting below key resistance levels as well. I would not go long here but watch closely.

[ChartBuddy]

[Tzupy]

Is MtGox down for someone else too? I'm getting 502 bad gateway.

[tarmi]

Is MtGox down for someone else too? I'm getting 502 bad gateway.

i cant log in. apparently there were too many attempts to log in from my ip address???

[vokain]

same

[gizmoh]

Is MtGox down for someone else too? I'm getting 502 bad gateway.

i cant log in. apparently there were too many attempts to log in from my ip address???

Goxxed. I guess they are trying to resolve this timeout issue.

[molecular]

inspired by adams chartbuddy conglomeration post, I just made a chartbuddy video starting mid-may.

http://youtu.be/ifKS-UebUCI

for some reason the quality currently sucks really bad (doesn't on my end). maybe it'll get better once the youtube re-encoder has finished his duties for higher qualities or something.

Awesome.  If only you could align the prices between charts it would be even better.  But I imagine that would be a pain.

I still have all the data so it would not be hard to re-encode with static axis. Unfortunately, I don't have the price data archived though.

not too hard to get it from bitcoincharts:

Code:

#> curl "http://bitcoincharts.com/t/trades.csv?symbol=mtgoxUSD&start=0" > trades.csv

(more info how to import into postgres if anyone is interested here's an old thread: BEGINNER WORKSHOP: bitcoincharts + postgres = cool sql queries

here's how I made the video:

Code:

mencoder -fps 15 -ovc x264 -o chartbuddy15.mp4 mf://*.png

after getting the files with this little script (which leaves much to be desired, of course, but works):

Code:

#!/bin/bash
n=15840
while [ "$n" -lt "15911" ]; do
  h=0
  while [ "$h" -lt "24" ]; do
    h2=$h
    if [ $h -lt 10 ]; then h2="0$h"; fi
    echo "getting ${n}.${h2}.png"
    curl -s -o ${n}.${h2}.png http://www.rtcons.com/wall/${n}.${h}.png
    h=$[ $h + 1 ];
  done
  n=$[ $n + 1 ];
done;

[solex]

That 2.5k wall at 96 which was half-eaten has now re-inflated to 3.2k
Keen buyers at these levels, perhaps spooked a bit by the deposit/withdrawal circus.

[Tzupy]

We have the standoff between a buying whale and sellers that are willing to dump at 96-97,
I believe mostly people who missed the train on the 19th July (I didn't, sold at 99 the day before).
If the buying whale makes another move today, up to 98 I believe, we'll find out if the sellers
get exhausted or not. If they do, the way to 100 and beyond is open IMO.

[ChartBuddy]

[solex]

We have the standoff between a buying whale and sellers that are willing to dump at 96-97,
I believe mostly people who missed the train on the 19th July (I didn't, sold at 99 the day before).
If the buying whale makes another move today, up to 98 I believe, we'll find out if the sellers
get exhausted or not. If they do, the way to 100 and beyond is open IMO.

I agree. And it is trench warfare as it is 19k to 100 but 36k to 103 (according to bitcoinwisdom) so the sellers do have a lot of ammo.

[vokain]

~$5M. not unmanageable, but compared to a few months ago it is quite a chunk of change

[rpietila]

We have the standoff between a buying whale and sellers that are willing to dump at 96-97,
I believe mostly people who missed the train on the 19th July (I didn't, sold at 99 the day before).
If the buying whale makes another move today, up to 98 I believe, we'll find out if the sellers
get exhausted or not. If they do, the way to 100 and beyond is open IMO.

Don't be too preoccupied with the idea that only one entity in the world is accumulating bitcoins now, whereas the sellers are many. This is the age when the pros make their moves, and they don't necessarily use the exchanges at all, except for the purpose of price suppression. Bitcoin is quickly redeeming its place among gold and silver.

[ChartBuddy]

[vokain]

We have the standoff between a buying whale and sellers that are willing to dump at 96-97,
I believe mostly people who missed the train on the 19th July (I didn't, sold at 99 the day before).
If the buying whale makes another move today, up to 98 I believe, we'll find out if the sellers
get exhausted or not. If they do, the way to 100 and beyond is open IMO.

Don't be too preoccupied with the idea that only one entity in the world is accumulating bitcoins now, whereas the sellers are many. This is the age when the pros make their moves, and they don't necessarily use the exchanges at all, except for the purpose of price suppression. Bitcoin is quickly redeeming its place among gold and silver.

poor gold and silver, it's like now the two older siblings have to make room for the newborn in the family.

hi rpietila, hope you've been taking it easy!

[Voodah]

We have the standoff between a buying whale and sellers that are willing to dump at 96-97,
I believe mostly people who missed the train on the 19th July (I didn't, sold at 99 the day before).
If the buying whale makes another move today, up to 98 I believe, we'll find out if the sellers
get exhausted or not. If they do, the way to 100 and beyond is open IMO.

Don't be too preoccupied with the idea that only one entity in the world is accumulating bitcoins now, whereas the sellers are many. This is the age when the pros make their moves, and they don't necessarily use the exchanges at all, except for the purpose of price suppression. Bitcoin is quickly redeeming its place among gold and silver.

But there's so much resistance.. What makes you so bullish? Are you thinking we going over 100?

[ChartBuddy]