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

[proudhon]

Gather round everyone.  I'll tell you how this will play out.  The exchange rate will languish for a while.  New money will flow to the exchanges as interest is increasing, but new buyers will be hesitant to buy, as they may suspect the price is in a downtrend, and so will hold of buying in the hope that they can get the most bitcoins for their money.  This will go on for a while, maybe many minutes.  The total amount of money waiting to buy will build over this period, and this won't be obvious by merely looking at bids on the order books.

Eventually, the distance of time will minimize the fear of this most recent run-up.  A few people will buy largish amounts, then a few more, and so on.  The bids will begin to pile up on the order books, and a new phase buying like we've just seen (and like we've seen many times before) will begin, which will quickly accelerate after old highs are broken.

Then repeat.

FTFY. 

Well, in all seriousness, I do expect the slump to be shorter than previous ones.  The infrastructure is on a good trajectory, and is more robust than it's ever been (with a very long way to go, still).  My take on overall public perception is that distrust and skepticism are lower than ever.

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[seleme]

Solid support again at these levels to be honest, should have bought few from that 840 wall on Bitfinex.

Agreed, but then again, the second we think we know something it will change .   850 or so is a great floor to maintain going through the holidays.   Things are going to explode next year as a new tax season begins for many regions.   Buying during the lull is highly advised for the little guys.   Remember the super big guys don't do much during the holidays as they are complacent and look to take the time off.

Just to make it clear - I should bought few at 840 to sell it around 860. 

I still think it's going down and am shorting btc on Bitfinex.

[JimboToronto]

Getting closer to below $800   happy dayz!

Seeing Bitcoin lose value makes you happy?

We all want to buy cheaper coins, but some of us actually own enough coins to want to see the price stabilize or rise in value.

Keeping fiat on hand to buy more during dips should be a hedge against price decreases, not an objective.

[adamstgBit]

Yep, that is very possible one. But imo, it has to go down first, hopefully soon.

We've just gone slightly beyond the point of a triangle as the shock waves get damped out and that triangle has an upward trend, it would take something fairly significant to change its direction (not that I go in for TA but harmonics and damping are relevant in all kinds of stuff).

Not that I disagree over much because everything so far suggests this should be the start of a fairly long downward trend but I also think the dumps may have been premature and there's upward pressure despite the caution.

all we need is a good bid wall and caution will be thrown out the window

[seleme]

Yep, that is very possible one. But imo, it has to go down first, hopefully soon.

We've just gone slightly beyond the point of a triangle as the shock waves get damped out and that triangle has an upward trend, it would take something fairly significant to change its direction (not that I go in for TA but harmonics and damping are relevant in all kinds of stuff).

Not that I disagree over much because everything so far suggests this should be the start of a fairly long downward trend but I also think the dumps may have been premature and there's upward pressure despite the caution.

There is strong resistance at 850 in last week or so definitely but it will be broken soon or later. I still think it's going to be soon as there doesn't look like much steam is left to push it much above, and when that happens resistance break is imminent.

[Davyd05]

Yep, that is very possible one. But imo, it has to go down first, hopefully soon.

We've just gone slightly beyond the point of a triangle as the shock waves get damped out and that triangle has an upward trend, it would take something fairly significant to change its direction (not that I go in for TA but harmonics and damping are relevant in all kinds of stuff).

Not that I disagree over much because everything so far suggests this should be the start of a fairly long downward trend but I also think the dumps may have been premature and there's upward pressure despite the caution.

all we need is a good bid wall and caution will be thrown out the window

I can wait a week till that Eurozone news disseminates to the masses. It took an awful specific search term to find it, and I had to show my dad he hadn't heard much about the whole deal and he' pays a fair bit of attention to global trends and politics. Sometimes patients works.. I know I could have sold at any of three daily tops now but I'd prefer to just hold atm.

Were like a rocket ship about to engage our stage 4 boosters. were almost out of our atmosphere and I'll just equate price drop in a change of velocity for a moment.. but remember there is less gravity in space Lol

[adamstgBit]

[wachtwoord]

Yep, that is very possible one. But imo, it has to go down first, hopefully soon.

We've just gone slightly beyond the point of a triangle as the shock waves get damped out and that triangle has an upward trend, it would take something fairly significant to change its direction (not that I go in for TA but harmonics and damping are relevant in all kinds of stuff).

Not that I disagree over much because everything so far suggests this should be the start of a fairly long downward trend but I also think the dumps may have been premature and there's upward pressure despite the caution.

all we need is a good bid wall and caution will be thrown out the window

I can wait a week till that Eurozone news disseminates to the masses. It took an awful specific search term to find it, and I had to show my dad he hadn't heard much about the whole deal and he' pays a fair bit of attention to global trends and politics. Sometimes patients works.. I know I could have sold at any of three daily tops now but I'd prefer to just hold atm.

Were like a rocket ship about to engage our stage 4 boosters. were almost out of our atmosphere and I'll just equate price drop in a change of velocity for a moment.. but remember there is less gravity in space Lol

What news? Could you link please?

[Richy_T]

Did someboday sell themselves (a lot of) their own coins for $1500??

no

I sold myself a bunch for 1750 but I did it OTC.

[adamstgBit]

[DaSheep]

So the gox API's are still down?
24h+ downtime?
WTF, Mr. Karpeles?!

[mbets]

...
I can wait a week till that Eurozone news disseminates to the masses. It took an awful specific search term to find it, and I had to show my dad he hadn't heard much about the whole deal and he' pays a fair bit of attention to global trends and politics. Sometimes patients works.. I know I could have sold at any of three daily tops now but I'd prefer to just hold atm.

Were like a rocket ship about to engage our stage 4 boosters. were almost out of our atmosphere and I'll just equate price drop in a change of velocity for a moment.. but remember there is less gravity in space Lol

What news? Could you link please?

http://www.cnbc.com/id/101263206

EDIT: A thread on it here too:
https://bitcointalk.org/index.php?topic=368380

This will affect people with large savings. Which is good if they join the party but will they invest in BTC or take their money elsewhere?

[spooderman]

Wow nice to read all this bullishness

[TERA]

[macsga]

...
I can wait a week till that Eurozone news disseminates to the masses. It took an awful specific search term to find it, and I had to show my dad he hadn't heard much about the whole deal and he' pays a fair bit of attention to global trends and politics. Sometimes patients works.. I know I could have sold at any of three daily tops now but I'd prefer to just hold atm.

Were like a rocket ship about to engage our stage 4 boosters. were almost out of our atmosphere and I'll just equate price drop in a change of velocity for a moment.. but remember there is less gravity in space Lol

What news? Could you link please?

http://www.cnbc.com/id/101263206

EDIT: A thread on it here too:
https://bitcointalk.org/index.php?topic=368380

Yep; I posted this yesterday. It's the most bullish news ever. Plus the fact that Switzerland wants it in as a common currency!

[spooderman]

argh TERA the grammar - it hurts

[macsga]

btcCHN above Gox... CHOO CHOO? 

[adamstgBit]

Reason for down trend : http://www.birminghamescorts.co.uk/

People are SPENDING

[mbets]

Reason for down trend : http://www.birminghamescorts.co.uk/

People are SPENDING

People are spending on escorts?

[Davyd05]

I kind've equate it all to the calm before the Storm the doom and gloom isn't being pushed regarding the eurozone talks, we literally have been on this path since Cyprus. We all know the economic numbers are weak and the un-employment numbers are really high.. and apparently in Spain after 8 months of searching for a job you will then be counted as Discouraged opposed to un-employed lol