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

[SlipperySlope]

just missed it

The previous pause was six hours long and the one before that was 12 hours long. I recommend patience - or maybe limit buy orders.

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[SAQ]

There seems to be a lot of support at 97, I can't see it breaking.

For bottom though it seems that 79 is it for today.

[SlipperySlope]

There seems to be a lot of support at 97, I can't see it breaking.

For bottom though it seems that 79 is it for today.

In trader talk, you meant resistance at 97, right?

[SlipperySlope]

For bottom though it seems that 79 is it for today.

Supposing that this pause at $96 turns downward within a couple of hours, there could be enough high-volume hours remaining today so that a wall-busting panic-selling spike down to $70 might just happen, e.g. in the blind due to goxlag. Otherwise, I think your assessment is likely.

[phoenix1]

another chance for easy money missed, damn you bitcoins  

haha was just thinking this

just missed it. was looking at 82$ loaded with FIAT and just got back from a meeting and here we are at 100 . DAMN U BITCOINS! Lets buy in at the top so we can offer some water for that pump! maybe not.

lol
Beat this ... I bought around the 83 level, sat with it for over an hour and it was going nowhere on low volume so I scratched it ... about ... oooh ... a minute at most before it went through the roof ... hahaha
Damn you Bitcoin !

[smoothie]

The next several hours will reveal whether the price movement stays in the channel.

Wow some of you TA's are sloppy. At least draw a line connecting TWO POINTS lol...

[Odalv]

What is next $100 or $70

[adamstgBit]

throughout this drop both support and resistance have been extreme. volume is very high. the volatility has brought in a lot of day traders looking to capitalize on the drop. I played the game myself, sold high bought lower! The risk to reward for doing this is going lower and lower with very drop, at one point the music will stop and there will be far more people than chairs.

[smoothie]

throughout this drop both support and resistance have been extreme. volume is very high. the volatility has brought in a lot of day traders looking to capitalize on the drop. I played the game myself, sold high bought lower! The risk to reward for doing this is going lower and lower with very drop, at one point the music will stop and there will be far more people than chairs.

Now if you could only literally sit on a bitcoin then okay. 

[Nightowlace]

throughout this drop both support and resistance have been extreme. volume is very high. the volatility has brought in a lot of day traders looking to capitalize on the drop. I played the game myself, sold high bought lower! The risk to reward for doing this is going lower and lower with very drop, at one point the music will stop and there will be far more people than chairs.

I am not going to lie, I took advantage of this. I set a buy at $80 before I went to sleep last night woke up and it was executed. Set a sell at $98 had a late breakfast and to my surprise it had also executed. I haven't made a ton of money like some people on this site but I am proud of the fact that I am $44 ahead of my initial deposit into my Mtgox along with 22BTC. So I would say 22BTC for a price of -$2 each is pretty solid.

Now I am about to go pop some popcorn, sit back and enjoy the show.

[elux]

http://www.huffingtonpost.com/2013/05/02/trump-soho-condo-selling-for-19m-in-bitcoin-only_n_3203609.html

Listed at: http://www.bitpremier.com/items/view/13

[SAQ]

There seems to be a lot of support at 97, I can't see it breaking.

For bottom though it seems that 79 is it for today.

In trader talk, you meant resistance at 97, right?

Yeah sorry the flipped 79,97 seems to be playing tricks on me haha

We might go down, but I don't see it going lower than 79 today.  

[SAQ]

By the way what's going on with silk road? Any news? Any indication as to when they might be back up?

[phoenix1]

throughout this drop both support and resistance have been extreme. volume is very high. the volatility has brought in a lot of day traders looking to capitalize on the drop. I played the game myself, sold high bought lower! The risk to reward for doing this is going lower and lower with very drop, at one point the music will stop and there will be far more people than chairs.

I don't know ... that was a lovely bounce just now - if I had been on it ! But I guess if Billy Big Bat had not appeared on the scene we could equally well have dropped 10 points instead. Yeah .. it's fucking risky at the moment ...
Problem with day trading it is that you can't actually go short, so in a downward trending market you are relying solely on catching the bounces and being nimble. Yeah you can sell out and look to buy again, but that's not really going short. And as someone posted recently, going to bed with a position is very risky right now. That really skews the odds against day trading IMO.
I am ahead, but not by much, and it's been a rollercoaster ... one that I am beginning to tire of ... takes up so much time

[elux]

By the way what's going on with silk road? Any news? Any indication as to when they might be back up?

'UPDATE (05/03/2013 0545 UTC): The attacks have been coming non-stop since my last update.

We've been able to keep the site open more than half the time with only minor issues such as limited image uploading for vendors.
Every hour we are making progress and I am feeling much more confident that we will come out on top within the next few days.

Still, expect some unannounced down-time here and there.'

http://www.reddit.com/r/SilkRoad/comments/1dm7id/latest_update_from_dpr_05032013_0545_utc/

[zebedee]

Amazing, such high volume, but at any time the bids and offers are so thin.  It seems that anyone who wants to trade just unloads (fiat or BTC) at market.  Hence we get stupid crazy volatility.  I think the only winner is Gox.

[Richy_T]

[phoenix1]

Amazing, such high volume, but at any time the bids and offers are so thin.  It seems that anyone who wants to trade just unloads (fiat or BTC) at market.  Hence we get stupid crazy volatility.  I think the only winner is Gox.

The house always wins 

[Jaroslaw]

Anyone see reptielia guy ? i think he might commit susicide after loosing so much money

[y2kcamaross]

Anyone see reptielia guy ? i think he might commit susicide after loosing so much money

doubtful, he said he had unlimited money, so that shouldn't bother him one bit