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

[JimboToronto]

Well, so much for buying the dip.

[TaurusBit]

Well none of my yesterday's bids have been taken.. I overestimated the bears...

Long @290 avg. Let's go bulls  

[natewelt]

Well folks. The 50 day moving average has moved above the 200 day moving average signaling near-term momentum is on our side.

If the 200 DMA was currently trending upwards while being overtaken by the 50 DMA then we would have a golden cross on our hands, but technically the 200 day is still moving down ever so slightly. Most technicians believe both moving averages need to be trending upwards for a golden cross to occur. Look up golden cross if you don't know what I am talking about...

If we stay at or above current prices for another month or two then we would have both the 50 DMA and the 200 DMA trending upwards which would be great news for Bitcoin longs.

[cryptasm]

Bought in @ 288 lets see what happens

[ChartBuddy]

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Explanation

[TaurusBit]

[img]http://i.imgur.co

Mr. Manipulator is back on the bid side?

[Hyperjacked]

Bought in @ 288 lets see what happens

Wise Move imHo ! These moves are getting so predictable...

[cubanbitcoin]

Great post and a lot of responses. I learn something today 

[Hyperjacked]

Great post and a lot of responses. I learn something today 

Welcome Cuba! Maybe we can visit legally from the US soon...Cheers 

[natewelt]

mean anything?

They are both uptrends, but other than that...nope

[ejinte]

mean anything?

not really but nice try

[ChartBuddy]

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Explanation

[ChartBuddy]

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[Torque]

Well, so much for buying the dip.

Not sure what you mean, but if it gets anywhere near 250 or below I'm buying more.  Continuing to build my long position.  I'm looking toward next year.

[BlackSpidy]

Well, so much for buying the dip.

This is the dip! Get ready for $300+ real soon.
 

[ChartBuddy]

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Explanation

[billyjoeallen]

I care nothing of Peercoin I just know a Litecoin drop doesn't imply BTC is to follow.

told you so  

This drop has nothing to do with Litecoin, but with the yes vote in the Greek parliament.

Edit: Or to say it better, with traders who value bitcoin lower because of the yes vote. We soon know how many of them there are

Clearly the parliament in Greece values their banks getting re-opened more than the will of their own people. This is similar to what happened in the U.S. in 2008.  For the record, I think the Greeks a s a group have had it far too easy and their high tolerance for corruption have gotten them into this mess. Nevertheless, it's more proof that democracy isn't working. I would even go so far as to say it can't work for long.

The yes vote does not automatically mean the banks will re-open soon if ever. There are still conditions that need to be met. Even if they re-open, I suspect some clever Greeks will use their deposited funds to buy bitcoin.  The blockchain has no bank holidays. No capital controls.

I don't really care much if the price dips a little more. I literally have thousands of dollars on the exchange already just in case that happens.

[edgar]

This drop has nothing to do with Litecoin, but I literally have thousands of dollars on the exchange already just in case that happens.
[/quote]

Woooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooo oooooooooooooooooooooooooo...

Literally

[JimboToronto]

Well, so much for buying the dip.

Not sure what you mean, but if it gets anywhere near 250 or below I'm buying more.  Continuing to build my long position.  I'm looking toward next year.

What I meant was that I try to time my buys to significant price dips and we hadn't had one since the start of June until it dropped over $25 on Monday. Unfortunately I was out in the bush at the time and couldn't take advantage. The price quickly regained half of what it had lost.

When I saw it drop sharply to below $285 while I was on my way back into town tonight I thought maybe I'd get another chance. Then  I saw it immediately bounce back into the mid-$290s. I realized that this wasn't the time.

I'm not much of a daytrader. I haven't sold any coins in over 2 years. I buy the dips and hoard my coins. Hopefully by the time I need to sell any coins I'll just spend them on goods and services.

[ChartBuddy]

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