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Question: Oct. 31 Closing Price:
$0 - 3 (5.9%)
<$7,000 - 5 (9.8%)
$7,000-$7,500 - 2 (3.9%)
$7,500-$8,000 - 4 (7.8%)
$8,000-$8,500 - 10 (19.6%)
$8,500-$9,000 - 9 (17.6%)
$9,000-$9,500 - 4 (7.8%)
$9,500-$10,000 - 3 (5.9%)
$10,000-$10,500 - 4 (7.8%)
>$10,500 - 4 (7.8%)
>$20,000 - 3 (5.9%)
Total Voters: 51

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Author Topic: Wall Observer BTC/USD - Bitcoin price movement tracking & discussion  (Read 21408851 times)
This is a self-moderated topic. If you do not want to be moderated by the person who started this topic, create a new topic. (109 posts by 22 users deleted.)
ronaldlee0917
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May 07, 2013, 11:12:55 PM
 #5721

i saw that wall at 111 just retreated in time
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ineededausername
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May 07, 2013, 11:13:52 PM
 #5722

I think it's important to realize that a floor can essentially be set at 50, simply because there is too much money in the system.
Consider a large holder of Bitcoin (a few of these exist).  At least 5 of them will have sold >$1m each (if you don't believe this, let's say 50 with $100k) and still have some remaining while it was going up, or during the two bounces (to $200 and to $166).  So that's $5m.

Bitcoin has never had $5m of bids at low prices (below 50) without going up.  These major players will be able to put up bids well in excess of 100k BTC.  And if by some calamitous event it reaches $20, there will be quite a few people who can form almost insurmountable bidwalls.  We're talking 200k-300k BTC aggregate demand at such levels.

Too much money in the system.  Bitcoin can't go so low.

This is very different from June 2011, when bids were so weak, a sale of 10k BTC could drop it >30% at the peak.  This rally was well-supported by money coming into the system from big players who have a good understanding of fundamentals.  At $30, the price can move from housewives who saw BTC on TV buying in.  At $200, money necessarily comes from big players who have researched Bitcoin thoroughly, and who all have a long-term, rational view of Bitcoin.

The money in Gox/Bitstamp is larger in quantity than 2011, and different in nature.  I think this is enough to conclude that a massive drop of 90% from peak is not in the cards.  Then it's not so unreasonable to say that 80% from peak, or $50, is the floor.

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May 07, 2013, 11:15:44 PM
 #5723

Almost no walls, price not diving nor sky rocketing for very long periods of time...

ATM this thread has no walls to track. This is cool, speculators might be heading up to other commodity.

We do however need more btc adoption in order to make it a good asset with some more stability than what it has now.

Could it possible cool its bursts and booms ans set with a growth of, say, 10%/month? That would be roughly a 2x fold by the end of the year. I for one would be happy with such outcome.



No walls? 1k at 110. 5k to 115, 15k to 120. They're not consolidated but there's a fuck load of asks out there between 110-120. For a $10 span it's well above average.

1k, 5k, even 10k seems a lot but this much is being sold and bought almost every hour now.
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May 07, 2013, 11:20:05 PM
 #5724

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May 07, 2013, 11:28:52 PM
 #5725

Nothing's happening.  Shocked
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May 07, 2013, 11:30:13 PM
 #5726

Nothing's happening.  Shocked

Shit's going down tonight
michaelGedi
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May 07, 2013, 11:31:49 PM
 #5727

Quote
re: 6. sure, pretty weak point, only relevant right now where we're a bit ahead.

re: 5. true. but, given current information, I'd say there's slightly more evidence for the downward trend than for the upwards one.

none of the points is really strong individually. I'm as undecided as anyone else here seems to be :/


yeah I think I'm just emotionally attached to the idea of this triangle closing to a nice upwards trend...

the TAs I've read on this forum are undecided between them. But the media stories and investment developments are slowly building, and I personally only expect positive news in the next month. I was talking to a bunch of bankers the other day, and heard some interesting anecdotes... at least some of the financial sector are paying attention.

I think it's worth betting up... especially considering the amount of money that seems to be waiting for "cheap coins" ... there are only so many cheap coins and only so many times you can raise your fellow cheap coin waiters to outbid them.


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May 07, 2013, 11:32:22 PM
 #5728

What once was resistance, will become support they say.

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May 07, 2013, 11:33:11 PM
 #5729



qua?
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May 07, 2013, 11:35:00 PM
 #5730

You should remake it with a log chart.
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May 07, 2013, 11:37:46 PM
 #5731

An update on the battle to determine the rate of bubble collapse.

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May 07, 2013, 11:39:52 PM
 #5732

What once was resistance, will become support they say.



So you are saying we will hit resistance at just above $120... and support is declining...
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May 07, 2013, 11:48:04 PM
 #5733

What once was resistance, will become support they say.



So you are saying we will hit resistance at just above $120... and support is declining...
lol! good one
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May 07, 2013, 11:53:19 PM
 #5734

What once was resistance, will become support they say.



Dubya tee eff m8?
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May 07, 2013, 11:59:06 PM
 #5735

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May 08, 2013, 12:03:58 AM
 #5736

Looks like someone pressed the "Oh he's just bought in, let's drop the price by 4%" button again.
Seriously, it happens every time.
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May 08, 2013, 12:07:25 AM
 #5737

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May 08, 2013, 12:09:51 AM
 #5738

Looks like someone pressed the "Oh he's just bought in, let's drop the price by 4%" button again.
Seriously, it happens every time.

I hate that, happens to me too.  It'll follow the same pattern for like 3 cycles, I'll buy in and it'll drop more.  Or I'll sell at what looks like  peak and it'll go up.

Fortunately for me that tends to only be immediately, and an hour or so later i am still coming out ahead.
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May 08, 2013, 12:11:01 AM
 #5739

Looks like someone pressed the "Oh he's just bought in, let's drop the price by 4%" button again.
Seriously, it happens every time.

Quick! Sell before it drops more!  Grin



Inb4 landslide?
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May 08, 2013, 12:13:54 AM
 #5740

Quick! Sell before it drops more!  Grin

Never! XD
I'm keeping them forever and ever! Tongue
Or until they gain a profit, anyway.
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