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

[Jaroslaw]

Price seems to be crashing.... up 

Wait for first big fish today

[seleme]

Price seems to be crashing.... up  

I might be wrong and been many times but this definitely doesn't look like something that has serious support to go up and stay there. 120-130 (if not lower) looks much, much more realistic than above. You can smell the fear on the market.

[Rampion]

Price seems to be crashing.... up  

I might be wrong and been many times but this definitely doesn't look like something that has serious support to go up and stay there. 120-130 (if not lower) looks much, much more realistic than above. You can smell the fear on the market.

then it's time to be greedy 

[BitPirate]

I think we'll just trade in this narrow (for Bitcoin) band for a while.... you know, it is possible, we don't constantly have to be bouncing.

The way I see it, over the past nearly-two weeks the average support price has been increasing and quite robust. Looks like the oportunity for childish DDoS plays is decreasing.

I think this bodes very well for next week, after the holiday... Or who knows, perhaps bank holiday Monday could be a cracker.

[Miz4r]

Ask sum is falling, bid sum is on the rise again. Looks like the market is setting up for a rally soon.

[just1nmc]

Ask sum is falling, bid sum is on the rise again. Looks like the market is setting up for a rally soon.

And at its lowest point, the bid sum briefly touched its previous $16m peak when the price was $266 

[Miz4r]

4h EMA as seen on ClarkMoody is about to cross. That's bearish, right?

The last time it did this was April 11th, during the early stages of the crash to $50

It did before on the 23rd of March after a small correction. They crossed again soon afterwards and well what happened next we all know.

[dmiceman]

Nope. Does not look like we are going to 200. Interesting, how much will be dumped today.

[seleme]

I just feel more comfortable with fiat at the moment. If it goes up, I'll catch it up, I'll lose a bit but that's fine, just don't have a feeling the risk of staying behind is bigger than opposite.

[gizmoh]

I just feel more comfortable with fiat at the moment. If it goes up, I'll catch it up, I'll lose a bit but that's fine, just don't have a feeling the risk of staying behind is bigger than opposite.

Thats my stance also, too much fog currently.

[Miz4r]

I just feel more comfortable with fiat at the moment. If it goes up, I'll catch it up, I'll lose a bit but that's fine, just don't have a feeling the risk of staying behind is bigger than opposite.

Maybe you're lucky and we'll revisit 120-125, but I personally doubt it because usually after visiting a 'bottom' twice confidence at that point is building up and the market will be very hesitant to bash their head against the same wall a third time. Could be wrong though, but that's my take on this.

[Jaroslaw]

sadly but we are going down. Even mass buy in didnt fix falling trend.

[rpietila]

I would play lazy fat cat at this stage. If ever certain events occur, during the rest of the week, we are positioned to make about 100,000mBTC, which will support our current operations for 48 hours. If not, we just continue our current operations without this support, since the internal appreciation rate of our bitcoins is enough.

[deathcode]

I just feel more comfortable with fiat at the moment. If it goes up, I'll catch it up, I'll lose a bit but that's fine, just don't have a feeling the risk of staying behind is bigger than opposite.

This is the main problem with people in the bitcoin world. You trust fiat more? you certainly know that bitcoin can either go to $50 or go to $200 in a day, you just need to be patient and buy/sell at the right times. With fiat, well.. you have fiat, that's as fun as watching paint dry and by that I mean, slowly but surely that inflation is eating it up..

[proudhon]

What's interesting right now is that we are just beginning to enter a phase of institutional interest, and, I think, as luck would have it for larger investors, people were scared into putting lots of bitcoin back on MtGox.  The ask depth is looking very healthy, and that is exactly what is needed and wanted by people who want to invest $100k+.  I think in the next 2 years we could see the bid depth on MtGox reach around $50 million, and the price will need to adjust upward (and there will be a subsequent dramatic correction, no doubt).

[seleme]

I just feel more comfortable with fiat at the moment. If it goes up, I'll catch it up, I'll lose a bit but that's fine, just don't have a feeling the risk of staying behind is bigger than opposite.

This is the main problem with people in the bitcoin world. You trust fiat more? you certainly know that bitcoin can either go to $50 or go to $200 in a day, you just need to be patient and buy/sell at the right times. With fiat, well.. you have fiat, that's as fun as watching paint dry and by that I mean, slowly but surely that inflation is eating it up..

Yes, I trust fiat more at this moment. I've trusted bitcoins more for days before yesterday. I'm not investor, I'm trader and I'm not going to look my coins dipping to be worth 15/20/30 dollars less without selling and trying to buy more and have them more if I feel that's what I should do.

I don't care what anyone thinks about it, as long as volatility is as it is I'm not hoarding my coins, specially as I don't have enough of them to just wait to become rich at some time.

So, you do your stuff, I'll do mine. I'm not here to help your mined or cheaply bought coins being worth more, I know that's what early adopters want from people but I couldn't care less about their coins and what they want , I'm here to make what's best for me If I lose all I've invested in btc, I won't lose a sleep, I've never invested more than I can forget.

[Jaroslaw]

We are slowly continue journey to the 120$

[SAQ]

The buying pressure seems slugish. The selling pressure is intense. We continue with the 10th of April crash down to 47.

[deathcode]

I just feel more comfortable with fiat at the moment. If it goes up, I'll catch it up, I'll lose a bit but that's fine, just don't have a feeling the risk of staying behind is bigger than opposite.

This is the main problem with people in the bitcoin world. You trust fiat more? you certainly know that bitcoin can either go to $50 or go to $200 in a day, you just need to be patient and buy/sell at the right times. With fiat, well.. you have fiat, that's as fun as watching paint dry and by that I mean, slowly but surely that inflation is eating it up..

Yes, I trust fiat more at this moment. I've trusted bitcoins more for days before yesterday. I'm not investor, I'm trader and I'm not going to look my coins dipping to be worth 15/20/30 dollars less without selling and trying to buy more and have them more if I feel that's what I should do.

I don't care what anyone thinks about it, as long as volatility is as it is I'm not hoarding my coins, specially as I don't have enough of them to just wait to become rich at some time.

So, you do your stuff, I'll do mine. I'm not here to help your mined or cheaply bought coins being worth more, I know that's what early adopters want from people but I couldn't care less about their coins and what they want , I'm here to make what's best for me If I lose all I've invested in btc, I won't lose a sleep, I've never invested more than I can forget.

My point is it doesn't matter when you buy, you can buy BTC now at 135 and if it goes down, you might have to wait longer to sell, but eventually, you'll sell at a profit. Sure, you can wait and buy when it dips, then you will have to wait until it goes up again to sell, if it ever does go up... so it's a matter of timing, that's all
With fiat... you just have fiat...

[smoothie]

What's interesting right now is that we are just beginning to enter a phase of institutional interest, and, I think, as luck would have it for larger investors, people were scared into putting lots of bitcoin back on MtGox.  The ask depth is looking very healthy, and that is exactly what is needed and wanted by people who want to invest $100k+.  I think in the next 2 years we could see the bid depth on MtGox reach around $50 million, and the price will need to adjust upward (and there will be a subsequent dramatic correction, no doubt).

I think that the bid depth can reach $50 million by June 1st 2013.

It doesn't take much interested to add up to $50 million waiting on the exchange to buy bitcoins.