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

[ChartBuddy]

[MickeyT2008]

Took some profits at $123 on Bit - jeezus it's choppy around here

funny, people always tell us about their profits but never about their losses :p

Okay then, within a few seconds of me selling at $129 that whale bought his 5000BTC and then walled off the bid side at $135, just as if he'd been waiting for me to do that. (do whales have spy cameras everywhere?).  Then I ended up buying in a few cents above his wall, compounding my mistake.

Fortunately, as I've said before, because I only have a few BTC this is annoying, not a disaster and I will make it back again.  Had I been trading a few thousand BTC I'd be flipping out about that right now!  However, I think I can survive losing 0.15BTC, the lesson is worth the price.

Oh well, mistakes are there to be learnt from

[ardana123]

I don't day trade anymore because of losses as well. I only buy and hold :p
It's true what they say, people shouldn't act on emotions when trading on stock markets, but still most of them do :p

[thezerg]

Its interesting to see the situation on Gox.  Over the weekend sellers simply did not fill in the ask; it still had the knife-like look of a fast sell-off.  And you've got to ask yourself why would anyone put up an ask?  Since its very difficult to take $ out of gox, the majority of the sellers are traders.  A good chunk of them may have bought above today's price so are less likely to sell now...

TL;DR The whales won't find significant volume on Gox until they eat into new rally territory.

[ag@th0s]

Took some profits at $123 on Bit - jeezus it's choppy around here

funny, people always tell us about their profits but never about their losses :p

Good news never hurts.  I'm down on trading over the last six months - not trying to brag.

[MickeyT2008]

I don't day trade anymore because of losses as well. I only buy and hold :p
It's true what they say, people shouldn't act on emotions when trading on stock markets, but still most of them do :p

I know.  That's a lesson that I've already learnt before, yet sometimes seem to keep forgetting again.  The trouble is that in my day to day life I have very little cash to spare so daytrading is the only way to increase what I have, unless BTC does the equivalent of it's rise from 20 cents to $266 over a couple of years again, which would be nice

[ardana123]

I don't day trade anymore because of losses as well. I only buy and hold :p
It's true what they say, people shouldn't act on emotions when trading on stock markets, but still most of them do :p

I know.  That's a lesson that I've already learnt before, yet sometimes seem to keep forgetting again.  The trouble is that in my day to day life I have very little cash to spare so daytrading is the only way to increase what I have, unless BTC does the equivalent of it's rise from 20 cents to $266 over a couple of years again, which would be nice

I believe it will rise much higher than 266 over the next year... Still waiting for a suitable entry point to go all-in.

[ChartBuddy]

[gandhibt]

Bitstamp did not go up like gox did.

BS
118 -> 122 (3.4%)

GOX
126 -> 133 (5.6%)

[gandhibt]

I don't day trade anymore because of losses as well. I only buy and hold :p
It's true what they say, people shouldn't act on emotions when trading on stock markets, but still most of them do :p

I know.  That's a lesson that I've already learnt before, yet sometimes seem to keep forgetting again.  The trouble is that in my day to day life I have very little cash to spare so daytrading is the only way to increase what I have, unless BTC does the equivalent of it's rise from 20 cents to $266 over a couple of years again, which would be nice

I believe it will rise much higher than 266 over the next year... Still waiting for a suitable entry point to go all-in.

Are you the new frozenlock or just a copycat?

[mmitech]

I see big players moving to Bitstamp slowly, the volume is getting bigger each day, and starting to be almost the same as Mtgox, they have faster and better support, today I made a deposit through SEPA and it was credited the same day, I usually withdraw money and I get it the same or next day on my account..... but still I fail to understand why people still trade on Mtgox after all this shit....  

[gandhibt]

Took some profits at $123 on Bit - jeezus it's choppy around here

funny, people always tell us about their profits but never about their losses :p

Okay then, within a few seconds of me selling at $129 that whale bought his 5000BTC and then walled off the bid side at $135, just as if he'd been waiting for me to do that. (do whales have spy cameras everywhere?).  Then I ended up buying in a few cents above his wall, compounding my mistake.

Fortunately, as I've said before, because I only have a few BTC this is annoying, not a disaster and I will make it back again.  Had I been trading a few thousand BTC I'd be flipping out about that right now!  However, I think I can survive losing 0.15BTC, the lesson is worth the price.

Oh well, mistakes are there to be learnt from

I just a while ago lost 10 BTC on few bad trades, when the 145 crash happened and I was miserably late. So don't feel sry for 0.15 BTC or your balls will crack when you lose your first bigger trade. =D

[Walsoraj]

this is like watching someone place bombs for a demolition.

[NamelessOne]

The triangle may be ending by going up. We hovered around 125 support pretty much all weekend, a number of dips into 124, but generally all around 125. Lets see how this unfolds. 

LOL damn that worked out. I went into a three hour meeting and couldn't actively watch this other than on my mobile. Awesome. 

[ardana123]

Just had a semi heart attack. Was logged in on my btc-e account and my btc balance suddenly appeared as 0, as if someone had hacked in and withdrawn my btc. Logged back in and it showed up. Frightening moment, especially because that site is shady as hell, but the only choice to trade LTC at a decent volume :p

[mmitech]

Just had a semi heart attack. Was logged in on my btc-e account and my btc balance suddenly appeared as 0, as if someone had hacked in and withdrawn my btc. Logged back in and it showed up. Frightening moment, especially because that site is shady as hell, but the only choice to trade LTC at a decent volume :p

they were upgrading their wallet BTW, there was a post on their latest news about it

[coastermonger]

Posted on: Today at 05:23:54 PM Posted by: Holliday
Insert Quote
Quote from: gandhibt on Today at 05:03:05 PM
Bitstamp did not go up like gox did.

BS
118 -> 122 (3.4%)

GOX
126 -> 133 (5.6%)

Bitstamp did not fall as far from the recent high (looking back 7 days).

BS
131.40 -> 115.21 (12.321%)

GOX
148.91 -> 121.25 (18.575%)

Good insight, to me this just says that Gox is still unfortunately the price setter in terms of total market momentum.  If there's a knee-jerk swing on MtGox, the other exchanges are sure to follow.  Since Bitstamp is the primary access point to withdraw funds however, it should be perpetually lower in price as the sellers flock here.  The real marker for me will be when bitstamp price starts to edge up on the MtGox price.  This won't happen overnight, but it means that the sell pressure is no longer significant, and the bid pressure from buyers willingly making fiat transfers into bitstamp will be strong enough to bump the price on its own.

[gizmoh]

Just had a semi heart attack. Was logged in on my btc-e account and my btc balance suddenly appeared as 0, as if someone had hacked in and withdrawn my btc. Logged back in and it showed up. Frightening moment, especially because that site is shady as hell, but the only choice to trade LTC at a decent volume :p

same here, might be a lost connection to their database.

[MoneyMorpheus]

Took some profits at $123 on Bit - jeezus it's choppy around here

funny, people always tell us about their profits but never about their losses :p

Okay then, within a few seconds of me selling at $129 that whale bought his 5000BTC and then walled off the bid side at $135, just as if he'd been waiting for me to do that. (do whales have spy cameras everywhere?).  Then I ended up buying in a few cents above his wall, compounding my mistake.

Fortunately, as I've said before, because I only have a few BTC this is annoying, not a disaster and I will make it back again.  Had I been trading a few thousand BTC I'd be flipping out about that right now!  However, I think I can survive losing 0.15BTC, the lesson is worth the price.

Oh well, mistakes are there to be learnt from

Well after the ask wall that was placed a few mins ago it looks like you may be getting your .15 btc back... i think it will go back until there is a 3/4 usd difference with bistamp, at least that is whats being happening all weekend... but I may be wrong though...

[FullLife]

I see big players moving to Bitstamp slowly, the volume is getting bigger each day, and starting to be almost the same as Mtgox, they have faster and better support, today I made a deposit through SEPA and it was credited the same day, I usually withdraw money and I get it the same or next day on my account..... but still I fail to understand why people still trade on Mtgox after all this shit....  

I think you might have answered your own question.  People still prefer Gox because of the consistently higher volume.  I think this is the only thing that's keeping Bitstamp from taking the lead.  As you said though, Bitstamp is slowly overtaking Gox and if they don't get their banking issues resolved it's only a matter of time before Bitstamp becomes the market leader.