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

[joesmoe2012]

There is some exciting news that will materialize soon though.

the exciting news is that bitcoin is rallying, in line with our forecast :-)

of course, I didnt think for one second than any substantial amount of money from $130 down was withdrawn back into bank accounts. There's still quite a bit of latent money sitting on exchange sidelines I imagine.

correct. and most of our special indicators support this

ooooh, special indicators

My vague guess is something about an exchange. By the by, did you guys notice  that tradehill looks like it's going to make a comeback? https://tradehill.com/

They've been "making a comeback" for a few months now. I don't think there's much volume on their exchange though, also it's really funky the way you have to place orders, you can only do them in $1,000 USD increments.

[ChartBuddy]

[StarenseN]

Conditions are looking good for a sizable bull trap from here. Let's see if the bulls' wallets are as big as their mouths.

Either way... you might want to change your sig!

haha good one

[capsqrl]

2600 wall at $100 right now and we just hit $101. Not sure we'll see double-digits again anytime soon.

[vokain]

2600 wall at $100 right now and we just hit $101. Not sure we'll see double-digits again anytime soon.

if not soon why later? 

[N12]

No more double digits for July.

[vokain]

No more double digits for July.

what'd you mean by dollar extraction, was this in regards to bitcoin or the macroeconomy? both?

2600 wall at $100 right now and we just hit $101. Not sure we'll see double-digits again anytime soon.

It can either be a repeat of 2011 [we'll see 70$ again] or a repeat of 2012 [we'll never see 100$ again]. 50/50 chance :-)



I don't know what the **** the market is doing right now.
It's easier to speculate on random number generator than on bitcoin.
Looks like the only way to win is not to play.

I'll officially put my BTC in a cold storage and forget about them.
See you all in 10 years.

Why:
I was sure that this was a bull trap, and now we have breached 100$.
I don't know if we're going down, or up.
I give up.
AAAAA, PANIC, PANIC!

sounds like you were probably just listening to the wrong people :p like you wanted to listen to people that supported your preconceptions, rather than consider what the market actually is like objectively. i still don't understand the people's obsession behind this bubble following the 2011 bubble. i've posted at least 10 times why the market dynamics is more similar to the august 2012 one, namely, we thought bitcoin was over from 32->2, but now, we just believe it's going to go down when we know it's going to eventually go back up.

quite a fundamental difference

also, all that development in the past 2-4 years didn't simply disappear

I've asked this before, will the price follow the charts, or do the charts follow the price?

[razibuzouzou]

Maybe someone is trying to ignit a panic buy prior to performing a massive dump ?

[N12]

No more double digits for July.

what'd you mean by dollar extraction, was this in regards to bitcoin or the macroeconomy? both?

Bitcoin. It's happening, although at a slow pace.

The trick to having a nice impulsive move is to stricke quick, hard and repeatedly while the BTC supply is low on the books so that it doesn't recover and we can have a positive feedback loop for a while. That's why I find it's looking good for an epic bull trap.

[notme]

No more double digits for July.

sell, sell, sell

[N12]

No more double digits for July.

sell, sell, sell

Then we will revert to no more triple digits for 2013.

[notme]

No more double digits for July.

sell, sell, sell

Then we will revert to no more triple digits for 2013.

buy, buy, buy

(my market making bot thanks you)

[capsqrl]

2600 wall at $100 right now and we just hit $101. Not sure we'll see double-digits again anytime soon.

if not soon why later? 

Because later is much harder to predict :-) Perhaps we'll never see double-digits again, I have no idea.

[N12]

No more single digits for the third millenium.

[vokain]

No more double digits for July.

sell, sell, sell

Then we will revert to no more triple digits for 2013.

buy, buy, buy

(my market making bot thanks you)

lmao

[N12]

Remember: If you buy early into a bull trap, you avoid paying +50% and buying into the top thinking it will go past 266 again. If then you become deluded, at least your losses will be mild and you can sell at cost.

And I will say it again. 99 is expensive, 101 is cheap.

[solex]

The ask walls on MtGox are collapsing!

ClarkMoody is showing an unusual 2:1 ratio right down the depth. Already 30k bids above $90 but only 15k asks to $109.

Is this fundamentals or the scared-fiat spike?

[N12]

This is a fundamental scared fiat bull trap.

First mark to watch, 104. Second, 115.

[Tzupy]

Maybe someone is trying to ignit a panic buy prior to performing a massive dump ?

My theory too. It will be the mother of all dumps, because if we reach 120$, there will be about 100k BTC buy orders above 80$.
But I think there is still some time left until the giant dump, so today I'm 100% BTC. Ready to panic sell anytime though.

[vokain]

This is a fundamental scared fiat bull trap.

First mark to watch, 104. Second, 115.

why 115?