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

[kaykawa]

market looks like dead cat bounce

[Elwar]

Banks in Greece won't open this week 

I doubt they will until some sort of agreement is reached with the Euro... they will maximize pain until the Greeks give in... or at least they'll try.

The banks are kinda out of money...

They defaulted on their payments to the Eurpean Central Bank. Greek banks are essentially finished.

[Sitarow]

[hdbuck]

Banks in Greece won't open this week  

I doubt they will until some sort of agreement is reached with the Euro... they will maximize pain until the Greeks give in... or at least they'll try.

The banks are kinda out of money...

They defaulted on their payments to the Eurpean Central Bank. Greek banks are essentially finished.

and then the "GCB" shall fill those empty vaults with drachma.

[ejinte]

Banks in Greece won't open this week 

I doubt they will until some sort of agreement is reached with the Euro... they will maximize pain until the Greeks give in... or at least they'll try.

I don't think there will be an agreement.

[freebit13]

Banks in Greece won't open this week 

I doubt they will until some sort of agreement is reached with the Euro... they will maximize pain until the Greeks give in... or at least they'll try.

The banks are kinda out of money...

They defaulted on their payments to the Eurpean Central Bank. Greek banks are essentially finished.

Yeah, that's kinda what I meant, the banks won't get any inflow of money from the EU until the Greeks give in so they will have to stay closed. They (the EU mob) are going to drag this out as long as possible to try and show the Greeks they need the banks to survive.

[freebit13]

Banks in Greece won't open this week  

I doubt they will until some sort of agreement is reached with the Euro... they will maximize pain until the Greeks give in... or at least they'll try.

I don't think there will be an agreement.

I'm not so sure, politicians will slime there way through this mess somehow... they've already gotten rid of the one man who was speaking any sense and the new guy looks like an amateur.

Edit: also, apparently 16 of the other 18 countries in the EU are in favour of Greece leaving the EU, but are willing to negotiate on keeping them in the Euro currency... a little hint that they are keen to keep them as debt slaves.

[Fatman3001]

Banks in Greece won't open this week  

I doubt they will until some sort of agreement is reached with the Euro... they will maximize pain until the Greeks give in... or at least they'll try.

The banks are kinda out of money...

They defaulted on their payments to the Eurpean Central Bank. Greek banks are essentially finished.

and then the "GCB" shall fill those empty vaults with drachma.

Except there is no drachma anymore, so it would basically be greek IOUs. If you thought bitcoin was unstable...

[JimboToronto]

Good morning Bitcoinland.

No surprises I see. As expected we're going sideways in the $260s after the brief surge over $270.

Hopefully last week's $250s are in the past, just like the $240s of the week before.

Will we have to wait until next week for the next leg up?

Also predictably, the trollbears and negative Nellies are acting like a $5 dip is a big deal after a $15 rise. Pathetic.

Yawn. Mmmm, coffee.

[ChartBuddy]

Coin
Explanation

[freebit13]

Banks in Greece won't open this week  

I doubt they will until some sort of agreement is reached with the Euro... they will maximize pain until the Greeks give in... or at least they'll try.

The banks are kinda out of money...

They defaulted on their payments to the Eurpean Central Bank. Greek banks are essentially finished.

and then the "GCB" shall fill those empty vaults with drachma.

Except there is no drachma anymore, so it would basically be greek IOUs. If you thought bitcoin was unstable...

Apparently some people are already issuing scrip to their employees...I don't have a source for that at hand though.

http://www.economist.com/news/finance-and-economics/21649476-greece-could-alleviate-its-shortage-cash-issuing-ious-only?fsrc=scn/tw/te/pe/ed/scriptease

[spooderman]

Exciting week for BTC so far.  Let's hit 280 today!

why?
some chart ?

Precisely. We don't need no stinkin' buyers or cash pouring in. Just some sweet, sweet CHARTS.

maybe a continent's economy going tits up just to tip the balance a little too.

[wakasaki808]

we will hit 270 today, check btc-e

[nioc]

Exciting week for BTC so far.  Let's hit 280 today!

why?
some chart ?

Sum bags

[bassclef]

Guys, just remember that a healthy pullback is necessary for the market to move up, because it draws out selling. This is why you see a corrective wave after every impulsive wave.

The corrective wave slants downwards because it pulls selling from:

a) longs who want to take profit
b) longs who get nervous and sell the bottom
b) shorts from eager bears
c) miners who wish to dump at this price level
d) whales who want to go to on vacation

It also provides cheap coins for bulls, and if they're still in control the market will move back up eventually. The longer the consolidation/correction, the higher the resulting move will be (generally) because all of the selling that would have been on the books is now gone and will not stand in the way of a price markup. Once the price gets a little push, all of the traders who have sold already will now have to buy back in, shorts will cover and the whales will simply move their walls aside. All of this will contribute to a sustained price advance.

[ChartBuddy]

Coin
Explanation

[aztecminer]

Guys, just remember that a healthy pullback is necessary for the market to move up, because it draws out selling. This is why you see a corrective wave after every impulsive wave.

The corrective wave slants downwards because it pulls selling from:

a) longs who want to take profit
b) longs who get nervous and sell the bottom
b) shorts from eager bears
c) miners who wish to dump at this price level
d) whales who want to go to on vacation

It also provides cheap coins for bulls, and if they're still in control the market will move back up eventually. The longer the consolidation/correction, the higher the resulting move will be (generally) because all of the selling that would have been on the books is now gone and will not stand in the way of a price markup. Once the price gets a little push, all of the traders who have sold already will now have to buy back in, shorts will cover and the whales will simply move their walls aside. All of this will contribute to a sustained price advance.

you better be right, cuz if you arent then we are going to have to push the independent thought button .. and no one wants that (especially obama) .

[HI-TEC99]

Banks in Greece won't open this week 

I doubt they will until some sort of agreement is reached with the Euro... they will maximize pain until the Greeks give in... or at least they'll try.

The banks are kinda out of money...

They defaulted on their payments to the Eurpean Central Bank. Greek banks are essentially finished.

The Greeks will be asking officially for help from the European Stability Mechanism tomorrow, and the Eurogroup is ready to hold a meeting about it on the same day as the official request arrives. They will probably give Greece at least enough money to last until the latest emergency summit on Sunday. That should prop the Greek banks up for a while longer.

http://www.telegraph.co.uk/finance/economics/11722511/Greece-news-live-Greeks-have-voted-themselves-out-of-the-euro-as-European-leaders-openly-discuss-how-to-manage-a-Grexit.html

Following the meeting Eurogroup President Jeroen Dijsselbloem announced that the Greek government would submit a new request for financial assistance from the European Stability Mechanism (ESM). The request is expected tomorrow, 8 July 2015.

The Eurogroup is ready to hold a conference call on the same day when the request is received.

[ChartBuddy]

Coin
Explanation

[Fatman3001]

you better be right, cuz if you arent then we are going to have to push the independent thought button .. and no one wants that (especially obama) .

What's Obama done now?