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

[windjc]

I wish I had another $500k to invest in bitcoin right now.

This next leg up is going to be epic. Hopefully we bounce around for another week or so before it breaks out.

It has already been epic.  Somehow $1000 to $10,000 seems more impressive then $10 to $100.  The distance is the same though.

$9000 = $90 now?

Not sure about that, but maybe it's so epic that even that math works now.

It is the same percentage. Same as $1 to $10 also.

Of course. But same % doesn't mean same.

[adamstgBit]

 

I see this mistake a lot -- confusing adoption with first encounter. We are at the early majority for people learning about the existence of bitcoin, but the very very very very early adopter stage as useful technology.

ya thats what i'm thinking.

[CryptoMinter]

https://i.imgur.com/kwpLtS6.png

Nothing to see here.

[hmmmstrange]

 

I see this mistake a lot -- confusing adoption with first encounter. We are at the early majority for people learning about the existence of bitcoin, but the very very very very early adopter stage as useful technology.

ya thats what i'm thinking.

We are not even on that chart yet.

[Odrec]

 

I see this mistake a lot -- confusing adoption with first encounter. We are at the early majority for people learning about the existence of bitcoin, but the very very very very early adopter stage as useful technology.

Yes, adoption is what will really bring the price up not awareness and for that we need for bitcoin to be a success as a technology and not just as a toy for speculators.

[Xer0]

i just sold (@530€)

so far, every time i bought or sold, it was wrong
and the price went opposite then expected

so you: buy!

[BitPirate]

Bitcoin is being remarkably forgiving today -- a beautifully formed crash and subsequent bull trap peak, on lower volume. Get off at this station for some light refreshments before the moon shot. The next station is way back, and on fire.

[ChartBuddy]

[marcelus]

i just sold (@530€)

so far, every time i bought or sold, it was wrong
and the price went opposite then expected

so you: buy!

I don't need to be a prophet to tell you now is an awful time to sell. Buy 'em back!

[adamstgBit]

everyone has that funny feeling eh

so fuck, go buy some USD! not too much, don't crash the market 

[marcelus]

Bitcoin is being remarkably forgiving today -- a beautifully formed crash and subsequent bull trap peak, on lower volume. Get off at this station for some light refreshments before the moon shot. The next station is way back, and on fire.

It's approaching an ATH on Bitstamp with a tonne of buy orders behind it and you're calling this a bull trap??

[BitPirate]

Bitcoin is being remarkably forgiving today -- a beautifully formed crash and subsequent bull trap peak, on lower volume. Get off at this station for some light refreshments before the moon shot. The next station is way back, and on fire.

It's approaching an ATH on Bitstamp with a tonne of buy orders behind it and you're calling this a bull trap??

If you think this is a healthy precursor to a bull run, be my guest, but don't say I didn't warn you.

In fact the tape has been painted all the way up. Just go with the flow. There's no exuberance here, just a dream of what might have been.

[tHash]

Bitcoin is being remarkably forgiving today -- a beautifully formed crash and subsequent bull trap peak, on lower volume. Get off at this station for some light refreshments before the moon shot. The next station is way back, and on fire.

It's approaching an ATH on Bitstamp with a tonne of buy orders behind it and you're calling this a bull trap??

I am pretty sure the bears are completely blind to the order books . . .   Bid sums are at an ATH.   34.4 mil on Gox and 14 mil on Stamp!   Every time I check there is another mil or two added.   The new money from the exposure Monday has not even made it to the exchanges yet.   Many of the twitchy sellers sold already.   We need the bears though, so don't discourage them.   Someone has to sell, or this will get real interesting real quick.   So, this is definitely a bull trap, sell now before its too late and we drop back below $100  

[CryptStorm]

Bitcoin is being remarkably forgiving today -- a beautifully formed crash and subsequent bull trap peak, on lower volume. Get off at this station for some light refreshments before the moon shot. The next station is way back, and on fire.

It's approaching an ATH on Bitstamp with a tonne of buy orders behind it and you're calling this a bull trap??

I am pretty sure the bears are completely blind to the order books . . .   Bid sums are at an ATH.   34.4 mil on Gox and 14 mil on Stamp!   Every time I check there is another mil or two added.   The new money from the exposure Monday has not even made it to the exchanges yet.   Many of the twitchy sellers sold already.   We need the bears though, so don't discourage them.   Someone has to sell, or this will get real interesting real quick.   So, this is definitely a bull trap, sell now before its too late and we drop back below $100  

Where are you finding readable and up-to-date bid sums, please?

[marcelus]

Bitcoin is being remarkably forgiving today -- a beautifully formed crash and subsequent bull trap peak, on lower volume. Get off at this station for some light refreshments before the moon shot. The next station is way back, and on fire.

It's approaching an ATH on Bitstamp with a tonne of buy orders behind it and you're calling this a bull trap??

If you think this is a healthy precursor to a bull run, be my guest, but don't say I didn't warn you.

In fact the tape has been painted all the way up. Just go with the flow. There's no exuberance here, just a dream of what might have been.

I think one could pick out several examples like this from the 1 month graph. They were merely corrections. Ask me on Tuesday and I would have said the price was going to be $300 - $400. But the recovery has been so robust and so fast, it's hard to not just see the last couple of days as a correction as opposed to the beginning of a downtrend.

I do consider myself warned however

[tHash]

Bitcoin is being remarkably forgiving today -- a beautifully formed crash and subsequent bull trap peak, on lower volume. Get off at this station for some light refreshments before the moon shot. The next station is way back, and on fire.

It's approaching an ATH on Bitstamp with a tonne of buy orders behind it and you're calling this a bull trap??

I am pretty sure the bears are completely blind to the order books . . .   Bid sums are at an ATH.   34.4 mil on Gox and 14 mil on Stamp!   Every time I check there is another mil or two added.   The new money from the exposure Monday has not even made it to the exchanges yet.   Many of the twitchy sellers sold already.   We need the bears though, so don't discourage them.   Someone has to sell, or this will get real interesting real quick.   So, this is definitely a bull trap, sell now before its too late and we drop back below $100  

Where are you finding readable and up-to-date bid sums, please?

http://www.cryptocoincharts.info/

[jl2012]

Bitcoin is being remarkably forgiving today -- a beautifully formed crash and subsequent bull trap peak, on lower volume. Get off at this station for some light refreshments before the moon shot. The next station is way back, and on fire.

It's approaching an ATH on Bitstamp with a tonne of buy orders behind it and you're calling this a bull trap??

If you think this is a healthy precursor to a bull run, be my guest, but don't say I didn't warn you.

In fact the tape has been painted all the way up. Just go with the flow. There's no exuberance here, just a dream of what might have been.

Check http://blockchained.com/ , there is ATH amount of fiat on gox at 35MUSD. Only about 24MUSD was there during the April peak. So these money are pretty sure to be new money, not stucked goxbux

At the same time, only 27.5kXBT is for sale. Dividing 35M with 27.5k you have 1273USD/XBT

[TheKoziTwo]

[rebuilder]

Check http://blockchained.com/ , there is ATH amount of fiat on gox at 35MUSD. Only about 24MUSD was there during the April peak. So these money are pretty sure to be new money, not stucked goxbux

At the same time, only 27.5kXBT is for sale. Dividing 35M with 27.5k you have 1273USD/XBT

After a big bout of selling at record highs, there's a record sum of USD on gox books? That doesn't sound like new money to me.

[tHash]

Check http://blockchained.com/ , there is ATH amount of fiat on gox at 35MUSD. Only about 24MUSD was there during the April peak. So these money are pretty sure to be new money, not stucked goxbux

At the same time, only 27.5kXBT is for sale. Dividing 35M with 27.5k you have 1273USD/XBT

After a big bout of selling at record highs, there's a record sum of USD on gox books? That doesn't sound like new money to me.

Uh, that money had to come from somewhere . . .   Even if all the money on the order book is from sold bitcoins, which it is of course not, the bitcoins that were sold had to be bought by someone with new money . . .   Slightly simplified, but you get the idea.   Do people even think before they say things these days?