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

[JayJuanGee]

Good morning Bitcoinland.

I see a pleasant little rise today... currently $652 on Bitcoinaverage.

No big deal but a small step in the right direction. Go Bitcoin go.

BIG deal or not??   That is the question.


We had almost three months floating largely in the $560 to $630 range, following the Bitfinex "hack", and before that we had nearly 2 months of a "correction to mid-$600s.

We can maybe call this returning to mid-$600s, even though surely there are a lot of us who are more than ready to witness a return to the $700s and beyond.

Feeling like it could happen this time.

[JimboToronto]

Cheers...buckle up for a fun ride! 

Cheers indeed!

[ImI]

lol and always those 200 walls on bitstamp. we are seeing them now since weeks, once one 200 stack is being bought he refills and sets the next 200 wall.

sometimes i wonder if those hacked finex coins are eventually being sold step by step on other exchanges.

[AZwarel]

Ask walls melting away, sellers predict even higher prices, i smell more run up during the night (night in Europe, thats it:_). 6 hours ago there were more than 2500 BTC ask for 670$ on Bitstamp, now its only 453 BTC for 670$, and 2500 would shoot the price up to 770$.
 

[toknormal]

Earwig. Low.

[leowonderful]

lol and always those 200 walls on bitstamp. we are seeing them now since weeks, once one 200 stack is being bought he refills and sets the next 200 wall.

sometimes i wonder if those hacked finex coins are eventually being sold step by step on other exchanges.

That's exactly what I'm thinking right now, not a bad idea to sell without much attention. It's not holding us back too much, but we'd probably be at a higher price without all of these 200 walls everywhere.

I feel a 65-35 chance of breaking the 600 cap we've been at for so long, we could just go back to the high 500s though. I choose to be optimistic

[podyx]

Was gonna put in a 2 btc 20x order at $658 yesterday (now 702) but didn't have big enough balls. Would of made $1600 already smh

[AZwarel]

Houbi over 673$. Next up-wave incoming ^^ prepare the 700 memes!!!
Btw, funny to watch how when China breaks upwards, European traders start to sell, even when there is a 10-20$ arbitrage... lol.

[PoolMinor]

[chesthing]

Such low volume these last few months, so many coins to be dumped. Hey, I got a rhyme there. 

[noobtrader]

wow...

Price back to 666... 

[kehtolo]

Are we repeating 2013?

Does the June rise look fractally similar to April 2013? (also the course of the chart since that high look similar to me)

Have we got 2-3 months before real fireworks?

I think the chances of this are high. Load up as much as you can.

[bitebits]

Are we repeating 2013? [...] I think the chances of this are high. Load up as much as you can.

That would be quite a self-fulfilling prophecy  .

[kehtolo]

I wouldn't discount it...

I'm not going to bother going through all the trouble of posting my voodoo charts with strange lines and such...

But zoom out and looking at the bigger picture.. timeframe fit's nicely. Happy christmas.

[marcus_of_augustus]

Are we repeating 2013?

Does the June rise look fractally similar to April 2013? (also the course of the chart since that high look similar to me)

 ... July 09 2016-Nov. 2016 broadly lines up with post-halving behaviour for Nov. 28 2012 - March 2013, call it a definite maybe for now.

[molecular]

Are we repeating 2013?

Does the June rise look fractally similar to April 2013? (also the course of the chart since that high look similar to me)

 ... July 09 2016-Nov. 2016 broadly lines up with post-halving behaviour for Nov. 28 2012 - March 2013, call it a definite maybe for now.

it would be epic...

best christmas ever?

[vlight]

I wouldn't discount it...

I'm not going to bother going through all the trouble of posting my voodoo charts with strange lines and such...

But zoom out and looking at the bigger picture.. timeframe fit's nicely. Happy christmas.

Voodoo charts say BTC will rise 

[DeathAngel]

We had a nice price rise over the weekend but it wasn't enough to get excited about. Much better times agead I hope.

[calme]

just the required profit taking on the way up. summer uberpump doubters insisted that this fall/winter would be the real uberpump. i'd be happy with simply having a steeper trendline as opposed to an all-out blitzkrieg, but we''ll see what happens. I've noticed an uptick of interest from the Japanese, Germans and especially the eastern slavs but that's all anecdotal.

[JayJuanGee]

just the required profit taking on the way up. summer uberpump doubters insisted that this fall/winter would be the real uberpump. i'd be happy with simply having a steeper trendline as opposed to an all-out blitzkrieg, but we''ll see what happens. I've noticed an uptick of interest from the Japanese, Germans and especially the eastern slavs but that's all anecdotal.

You can wish for a slow and steady uptrend all that you like, but such an outcome is on the low end of probabilities.  Bitcoin just does not work like that, and markets do not tend to work like that, especially if you consider the fundamentals of bitcoin.

The fact of the matter is that we are likely to get violence at some point (and May / June 2016 was a mini example of such potentiality and October/November 2015 was another example of such potentiality), and sure we could experience another 3-6 months of relatively docile price movements, yet even some of your acknowledgement of "interest uptick" of Japanese, Germans, and eastern slavs, seems only a small part of the upwards price pressures on bitcoin...

We also have powerful people and groups that really want to keep bitcoin under wraps and under performing and out of the radar and in the negative light, but there is only so much that they can do when there are a variety of upwards price pressures coming from a broader and growing base.