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

[Richy_T]

Yep, Chart Buddy is totally broken.

Can't retrieve latest data? It should have a circuit break in this case

ChartBuddy retrieves each piece of data as a new file and at the top of each hour, processes all of them into an image. If this is happening, it shouldn't be ChartBuddy but it's not impossible. I'd put more money on Gox feeding bad data. Looks like it's all back working though. Other option is that the data is good and the market is boring


If you'll notice, when good data can't be retrieved from Gox, the line for that minute isn't plotted.

[1696032466]

1696032466

[Rampion]

Bears loading their weapons...



Still for now they are just baby bears

[thezerg]

Well, the oscillations (gravy train) are essentially over on the mother-of-all-triangles.  We are entering the pinch point.  The next few days will be interesting.

In all metrics you could go either way:

On the one hand we have 17M on the bid side which is over double what we had originally climbing into 100.  But the end of the bank holiday did not increase bids.  Of course, the pinch point is not a good time to place bids if you can just watch the charts so there could be secret rocket fuel on Gox.

On the news front we have very bullish news coming out of China, but medium term. But those directly involved will not be able to buy for quite some time.  And we seem to have news exhaustion in the western world -- what coverage there is is all about speculation or regulation.  But lots of bears posting here... implying that people who wanted out are out.

Fundamentally, the transactional uses for BTC that have existed since early/mid 2012 seem to remain strong (although I haven't heard updates from gambling sites, etc).  So the 2012 extrapolated exponential trendline (call it E0) seems very solid.  However, the question the market will resolve in the next week is whether the E1 trendline (starting Jan 2013) is also solid (leaving E2 and E3 as the bubble exponentials).  On the bull side, note the trendline started near the block reward halving event & adoption of BTC payment options by certain web sites (these events sequester/limit supply and remain in force).  On the bear side, that trendline is still freakin' insane :-), and anyway "final capitulation" event would likely plumb below it (we are right on it now).  Also on the bear side: rpietila thinks its a sure thing, and is basing his "I am THE new gentleman elite" posts on its continued performance.  

[DougTanner]

4000 BTC to $100



Make that 2000.

[crazy_rabbit]

Here we go?

[humanitee]

Here we go?

Hands up!

[Jaroslaw]

Go bears i want to see double digits.

[phoenix1]

Here we go?

I think so ... volume is increasing aswell

[Rampion]

Meh... Baby bears.

[Piper67]

Well, the oscillations (gravy train) are essentially over on the mother-of-all-triangles.  We are entering the pinch point.  The next few days will be interesting.

In all metrics you could go either way:

On the one hand we have 17M on the bid side which is over double what we had originally climbing into 100.  But the end of the bank holiday did not increase bids.  Of course, the pinch point is not a good time to place bids if you can just watch the charts so there could be secret rocket fuel on Gox.

On the news front we have very bullish news coming out of China, but medium term. But those directly involved will not be able to buy for quite some time.  And we seem to have news exhaustion in the western world -- what coverage there is is all about speculation or regulation.  But lots of bears posting here... implying that people who wanted out are out.

Fundamentally, the transactional uses for BTC that have existed since early/mid 2012 seem to remain strong (although I haven't heard updates from gambling sites, etc).  So the 2012 extrapolated exponential trendline (call it E0) seems very solid.  However, the question the market will resolve in the next week is whether the E1 trendline (starting Jan 2013) is also solid (leaving E2 and E3 as the bubble exponentials).  On the bull side, note the trendline started near the block reward halving event & adoption of BTC payment options by certain web sites (these events sequester/limit supply and remain in force).  On the bear side, that trendline is still freakin' insane :-), and anyway "final capitulation" event would likely plumb below it (we are right on it now).  Also on the bear side: rpietila thinks its a sure thing, and is basing his "I am THE new gentleman elite" posts on its continued performance.  

Don't forget the bid side only shows what's on the order book. In fact, the charts you get from blockchained.com offer pretty much the same information as what you get from bitcoinity or bitcoinium.

Now, if someone could tell us how much money is sitting OFF the books... oh hang on, don't I recall an interview with Mark Karpeles a while back? Wasn't he sitting on a yoga ball?  

[Jaroslaw]

And thats about it fake walls vanish when price close to they

[Rampion]

These bears are quite gay

[el_rlee]

an interview with Mark Karpeles a while back? Wasn't he sitting on a yoga ball?  

...which really undermined his authority on so many levels.
Could have combined that report with a documentary about Magic The Gathering, you bet Mr. Karpeles has one hell of a deck!

[DougTanner]

We're in total freefall right now.



Poke.

[phoenix1]

an interview with Mark Karpeles a while back? Wasn't he sitting on a yoga ball?  

...which really undermined his authority on so many levels.

Could only have gone worse if he had actually rolled of the ball in slow motion  
Slowly rotating out of view of the camera ... lol
The animated gif woulda gone viral ...

[cedivad]

I was thinking about the guy that did the market buy from 78 to 91 a few days ago. That was what, 50kBTC? Will he do a market sell today?
:|

[bangersdad]

is it just me that finds it very suspicious that within such a short space of time we had the gox legal case followed by the "china" news...im starting to get very sceptical..

[phoenix1]

I was thinking about the guy that did the market buy from 78 to 91 a few days ago. That was what, 50kBTC? Will he do a market sell today?
:|

That sir, might be read as trying to induce a bit of panic  

[Rampion]

So, the wall at $100 is legit. That's some news indeed

[Jaroslaw]

Its your last time to sell abouve 100$ so do it quick guys