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

[seleme]

under 100$ we go, reptelia in deep shit again.

long term i think he (and all btc holders) and going to be more than very fine...

Well, depends how much you can wait and what's your entry point... you'll be fine, you have mined your coins, he didn't, he bought them. Some of them, including the trade with you, at not really bargain price. We're still far away of certain Bitcoin huge success, crashes are perfectly possible and when you have lot of money blocked at lower prices for some longer period it starts to be tricky

He is on unlimited money though so his other business won't suffer 

[fitty]

Seems like we are already back to reality. 107 and falling 

See that 3k ask wall at $111? That's to make sure it doesn't bounce back. That's from a person(s) who have spent a lot of coins pushing the price down and they haven't bought back in yet. So they're not going to let the price rally until they do buy back in. From my rough calculations, they need to price to at least get to $65. They've sold a ton of coins sub $100 and if they turn around and just start buying right now it's unlikely they'd break even at best.

When you stop seeing that obvious consolidation after dumps, and of course stop seeing coin dumps into every rally, then you know we're headed back up. Until then, it's just mini rallies that will be dealt with swiftly, punishment turns out to be like 5k coins dumped all once.  

[SAQ]

Nobody has idea where it is going, just be careful guys. 4k dump and it's on 103. It went up with pretty low volume, it can change in minute.

The buying pressure seems intense.

I think we are going to hang around 110 - 115 for the next to hours then shoot another leg to 120.

[SlipperySlope]

My highest ask at $104.5 got filled an hour ago, and the one day rally is still going.

[wachtwoord]

Well, depends how much you can wait and what's your entry point... you'll be fine, you have mined your coins, he didn't, he bought them.

That's completely irrelevant.

That's like people at casino's betting big with their earlier winnings, losing it all and then stating it wasn't theirs to start with. Total bull shit.

[HerrDoktor]

Seems like we are already back to reality. 107 and falling 

See that 3k ask wall at $111? That's to make sure it doesn't bounce back. That's from a person(s) who have spent a lot of coins pushing the price down and they haven't bought back in yet. So they're not going to let the price rally until they do buy back in. From my rough calculations, they need to price to at least get to $65. They've sold a ton of coins sub $100 and if they turn around and just start buying right now it's unlikely they'd break even at best.

When you stop seeing that obvious consolidation after dumps, and of course stop seeing coin dumps into every rally, then you know we're headed back up. Until then, it's just mini rallies that will be dealt with swiftly, punishment turns out to be like 5k coins dumped all once.  

thanks for pointing this out to me.

[Ultraviolet]

People really need to give the China bullshit some thought. Absolutely nothing material has changed since that article aired. Gox's banks are still closed until *Tuesday and it's Saturday in China, too. It's not that simple to get millions of USD in fiat onto the exchanges.

Furthermore, the outright majority of Chinese people are destitute and impoverished. It's like ~600-700 Yuan for one BTC. The only people in China who can play the game are the affluent, and the affluent are all connected to the CCP: http://www.forbes.com/2011/09/14/china-rich-lists-opinions-contributors-john-lee.html

We saw _one_ sell off as a result of the Coinlab v. Gox lawsuit. _One_ dip into the 80s that didn't even last two hours, and that suit can outright destroy the world's only high volume BTC exchange. But for this pile of shit spat out of the CCP's Propaganda Ministry, people lose their sense of reason thinking that within hours of it airing that it switches the state of affairs from bear to bull.

Outright retarded. Humans are trivial to play.

[seleme]

Well, depends how much you can wait and what's your entry point... you'll be fine, you have mined your coins, he didn't, he bought them.

That's completely irrelevant.

That's like people at casino's betting big with their earlier winnings, losing it all and then stating it wasn't theirs to start with. Total bull shit.

Not sure if I understand good what you are trying to say, it happens sometimes as English is not my native language.

Goat will be pretty good if he just holds on loads of coins he mined, I strongly believe Bitcoin will be worth more in the future. If he doesn't sell anything or just small parts of it to support his lifestyle he'll still be fine. as he got his coins very cheap. His collection will be worth more or less during time but if he is happy with size of his collection and doesn't want to trade he'll be fine in long period.

[DougTanner]

Gox's banks are still closed until Monday

Tuesday actually. Monday is a bank holiday in Japan.

[seleme]

The battle of the walls, see who'll keep more nerves in our next episode or download special report for 14BTC only from our website 

[Rampion]

We will reach $125 before the dump? Speculate

[wachtwoord]

Well, depends how much you can wait and what's your entry point... you'll be fine, you have mined your coins, he didn't, he bought them.

That's completely irrelevant.

That's like people at casino's betting big with their earlier winnings, losing it all and then stating it wasn't theirs to start with. Total bull shit.

Not sure if I understand good what you are trying to say, it happens sometimes as English is not my native language.

Goat will be pretty good if he just holds on loads of coins he mined, I strongly believe Bitcoin will be worth more in the future. If he doesn't sell anything or just small parts of it to support his lifestyle he'll still be fine. as he got his coins very cheap. His collection will be worth more or less during time but if he is happy with size of his collection and doesn't want to trade he'll be fine in long period.

I tried to explain to you that after you have the Bitcoins in your possession (or any investment for that matter) the entry point has become irrelevant. If I have 100 BTC and I received them all as a gift from Satoshi it's the same as when I bought them all at $266. At that point in time you have 100 BTC and can decide to either keep them or sell them but the origin of the Bitcoins is irrelevant.

[Cablez]

@Chartbuddy - I really like your charts. One question though, could you present opposing sides so we can get a better view of the bid side as it happened as well?  Basically show the current view and a 90 degree rotated one.

[smoothie]

We will reach $125 before the dump? Speculate

Yes then you can put your order in...then it wont get filled, because it wont lol

[ElectricMucus]

The battle of the walls, see who'll keep more nerves in our next episode or download special report for 14BTC only from our website 

Yeah what is that extra coin for?  

13BTC

[Jaroslaw]

Bulls now out of steam and out of money get ready for the ride DOWN

[just1nmc]

We will reach $125 before the dump? Speculate

I personally doubt it. Most of the people buying now are the same who dumped on the way down to $80, which is why they have fiat on the exchange to buy.

If this rally is because of the China news I don't see it lasting long, because there won't be new buyers right away. I think the price will stay around $100 for now.

[seleme]

Well, depends how much you can wait and what's your entry point... you'll be fine, you have mined your coins, he didn't, he bought them.

That's completely irrelevant.

That's like people at casino's betting big with their earlier winnings, losing it all and then stating it wasn't theirs to start with. Total bull shit.

Not sure if I understand good what you are trying to say, it happens sometimes as English is not my native language.

Goat will be pretty good if he just holds on loads of coins he mined, I strongly believe Bitcoin will be worth more in the future. If he doesn't sell anything or just small parts of it to support his lifestyle he'll still be fine. as he got his coins very cheap. His collection will be worth more or less during time but if he is happy with size of his collection and doesn't want to trade he'll be fine in long period.

I tried to explain to you that after you have the Bitcoins in your possession (or any investment for that matter) the entry point has become irrelevant. If I have 100 BTC and I received them all as a gift from Satoshi it's the same as when I bought them all at $266. At that point in time you have 100 BTC and can decide to either keep them or sell them but the origin of the Bitcoins is irrelevant.

Ah, well that's a serious bullshit

It is absolutely no irrelevant, we are still living in fiat world and invest fiat to get BTC, so if one had invested 250 000$ to buy 1000 coins at April 9th, he is in no way same situation as one who invested 5000$ to buy them sometime in 2011/12.

Actually, more I think about what I've just read more I think you are really not aware how stupid is that what you just wrote..

Meh, whatever..

[arklan]

@Chartbuddy - I really like your charts. One question though, could you present opposing sides so we can get a better view of the bid side as it happened as well?  Basically show the current view and a 90 degree rotated one.

and weren't you gonna add a vertical axis too?

also - if you could make a navigable version of this, moving forward and back through time and rotating the view as i like, i, and i suspect others, would be willing to pay for it. i can see it now, moving across my screen in time, freely rotating, while next to it the more traditional charting software (i've got sierra chart running already.)

[el_rlee]

I tried to explain to you that after you have the Bitcoins in your possession (or any investment for that matter) the entry point has become irrelevant. If I have 100 BTC and I received them all as a gift from Satoshi it's the same as when I bought them all at $266. At that point in time you have 100 BTC and can decide to either keep them or sell them but the origin of the Bitcoins is irrelevant.

That's ignoring human nature