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

[Davyd05]

Anyone else watching Obama? Anyone else want to pull out their own eyeballs?

thanks to you now I am too.

What's about?

NSA...how the program is going to be re structured and launched

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[fonzie]

This looks about right. Huobi closed > 12 hours underneath short-term and mid-term trends. This still active (Stamp):

so hum, what "should" happen when reaching the end of the triangle?

FBI hits sell market order. BTC byebye

[pietje]

This looks about right. Huobi closed > 12 hours underneath short-term and mid-term trends. This still active (Stamp):

so hum, what "should" happen when reaching the end of the triangle?

FBI hits sell market order. BTC byebye

Like they would sell on a exchange..

[BitChick]

This looks about right. Huobi closed > 12 hours underneath short-term and mid-term trends. This still active (Stamp):

so hum, what "should" happen when reaching the end of the triangle?

FBI hits sell market order. BTC byebye

Like they would sell on a exchange..

Right. I read that they cannot sell on exchanges.  They will have to auction off the coins.  The real question will be who will purchase them at the auction?  Will they be sold in several lots or all together?  I would think that they would have to break up the amount to sell?  They will probably sell for less than the exchange price I would think too.  Maybe one of the new Funds on Wall Street should try to buy them up?  There will be plenty of people interested I am sure and whoever buys them will be smart enough not to dump them on an exchange all at once!

[Davyd05]

edge so close to the make or break moments on goxy

[bambou]

This looks about right. Huobi closed > 12 hours underneath short-term and mid-term trends. This still active (Stamp):

so hum, what "should" happen when reaching the end of the triangle?

FBI hits sell market order. BTC byebye

Like they would sell on a exchange..

yeahh nahhh i think this fbi dump have been argued enough (and considering its not even relevant). what i am interested in is to interpretate this figure: is it the end of a trend? is what will happen after a complete mystery? 50/50 rally or crash? support test complete?

Anyone else watching Obama? Anyone else want to pull out their own eyeballs?

thanks to you now I am too.

What's about?

NSA...how the program is going to be re structured and launched

you wish

[MAbtc]

This looks about right. Huobi closed > 12 hours underneath short-term and mid-term trends. This still active (Stamp):

so hum, what "should" happen when reaching the end of the triangle?

If we reach the end, then this formation is unlikely very useful. Whether we break resistance in either direction (and close above or below) is the question.

[fonzie]

This looks about right. Huobi closed > 12 hours underneath short-term and mid-term trends. This still active (Stamp):

so hum, what "should" happen when reaching the end of the triangle?

If we reach the end, then this formation is unlikely very useful. Whether we break resistance in either direction (and close above or below) is the question.

Expect at least one bull/bear trap before the direction can be confirmed, maybe 2

[MAbtc]

[ChartBuddy]

Explanation

[bambou]

seems we are not going back over 800 pretty much soon.

[Chancellor]

seems we are not going back over 800 pretty much soon.

I agree. Everyone talks about "China uncertainity". I expect we will go down to $700, and maybe $600 at the end of month, then any message from China can trigger panic selling, so around the end of month some "mini crash" is well possible. Then we will recover, regardless of what exactly the Chinese government will decide. If they will go Russian way, recovery may be longer, but I doubt it. While Russian govt are just control freaks, Chinese establishment will try to see some opportunity for them.

[humanitee]

I am seeing a pattern in these triangles, the angles are very telling on each, they point to $180. We are massively overvalued right now.

[T.Stuart]

I am seeing a pattern in these triangles, the angles are very telling on each, they point to $180. We are massively overvalued right now.

Ha ha ha!

You can tell the bears are getting panicky when all the triangles come out!  Pythagoras must be rolling in his grave!

 

[Walsoraj]

I don't understand triangles. Can someone please explain or illustrate what is going on in terms of dinosaurs?

[macsga]

I am seeing a pattern in these triangles, the angles are very telling on each, they point to $180. We are massively overvalued right now.

Ha ha ha!

You can tell the bears are getting panicky when all the triangles come out!  Pythagoras must be rolling in his grave!

 

Pterodactyl Heads!
CCMF!!!
HODL!!!
Happy weekend!!!!

[MatTheCat]

You can tell the bears are getting panicky when all the triangles come out!  Pythagoras must be rolling in his grave!

 

You are becoming more and more manic by the minute T.Stuart.

Having just read that it is possible to short Bitcoin on Bitfinex, I headed right over there to register and open an account. I then set about finding the option to short bitcoin. The Bitfinex site does not make this a very straightforward process, but I soon discovered the shorting option only to find that there is absolutely nobody interested in lending out Bitcoins to a short seller at this point in time.

Now what does that tell you?

(a big fkn queue of wannabe short-sellers and a distinct lack of mugs Bitcoin holders willing to loan out their Bitcoins to shorters chasing clear and obvious profits)

[JorgeStolfi]

About the FBI bitcoins:  I live far from the US and have no inside knowledge, but based on my understanding of how governments work, I would guess that:

The people in charge of the sale of those bitcoins do not stand to profit from it (at least legally).

Therefore, they do not particularly care to get the best possible price for them.

Their primary concern is to follow the rules so that they won't be charged with blatant errors, negligence, favoritism, etc.  Selling government property through private deals is highly against the rules, I can't imagine them doing it.

They will not get blamed if the coins are auctioned for $500 and the buyers immediately resell  them for $1000; that sort of thing happens all the time in public auctions.

They will try to avoid obvious mistakes that they can be blamed for (like failing to publicize the auction or doing so with too short notice).  But they will not look for smart trading strategies, like selling litte by little or waiting for the market price to rise.   (For a civil servant, being dumb is OK; trying to be smart and failing is very, very bad.)

They are also not concerned about what the auction could do to the market price.  A speculator's loss is always someone else's profit, so a price crash will only affect the distribution of wealth, not its sum. 

On the other hand, making hoarded goods available for use or consumption is always a good thing for the world as a whole.  (Granted that it may not apply to bitcoins, given that their utility is independent of the quantity in circulation.)

Thus I expect that they will auction the SilkRoad stash in largish lots (just small enough to have competitive auctions), and let the market do whatever it will do.

[humanitee]

You can tell the bears are getting panicky when all the triangles come out!  Pythagoras must be rolling in his grave!

 

You are becoming more and more manic by the minute T.Stuart.

Having just read that it is possible to short Bitcoin on Bitfinex, I headed right over there to register and open an account. I then set about finding the option to short bitcoin. The Bitfinex site does not make this a very straightforward process, but I soon discovered the shorting option only to find that there is absolutely nobody interested in lending out Bitcoins to a short seller at this point in time.

Now what does that tell you?

(a big fkn queue of wannabe short-sellers and a distinct lack of mugs Bitcoin holders willing to loan out their Bitcoins to shorters chasing clear and obvious profits)

If you think it's clumsy now, you should have seen the old site.  

[BitChick]

seems we are not going back over 800 pretty much soon.

I agree. Everyone talks about "China uncertainity". I expect we will go down to $700, and maybe $600 at the end of month, then any message from China can trigger panic selling, so around the end of month some "mini crash" is well possible. Then we will recover, regardless of what exactly the Chinese government will decide. If they will go Russian way, recovery may be longer, but I doubt it. While Russian govt are just control freaks, Chinese establishment will try to see some opportunity for them.

I don't agree.  I think that everyone panicked with the news of the FBI selling off the Silk Road coins. And the "panic" sell off was not even that impressive, really.  Today people will realize that the price is not dropping that much and then buy back in.  Thanks to all the press surrounding this Bitcoin got some "free" advertising.  More people will decide to invest and so it will go up.  Plus each day more and more businesses are signing up.  Yesterday it was an NBA sports team.  Today?  Who knows.  But it is looking good to me.  I predict $1000 by next week.