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

[solex]

Anyway you draw it, we seem to be out of the short term downtrend. I was a short term bear until today's mini rally. I dumped at 110 only to sit idly watching the ticker as it went down to 103 thinking sub 100... Bought back in at a loss at 118, we've been stable way too long and have broken through all the bearish trendlines. I really see no reason not to be long right now.

I called a uptrend to 130/140 area just before the Dwollar story broke. I think that this is still going to happen soon.

[notme]

Anyway you draw it, we seem to be out of the short term downtrend. I was a short term bear until today's mini rally. I dumped at 110 only to sit idly watching the ticker as it went down to 103 thinking sub 100... Bought back in at a loss at 118, we've been stable way too long and have broken through all the bearish trendlines. I really see no reason not to be long right now.

I called a uptrend to 130/140 area just before the Dwollar story broke. I think that this is still going to happen soon.

Sure, but we'll see it hit 108 first.

[Frozenlock]

Sure, but we'll see it hit 108 first.

Quote.
Just 'cause.  

[ChartBuddy]

[thoughtfan]

Anyway you draw it, we seem to be out of the short term downtrend. I was a short term bear until today's mini rally. I dumped at 110 only to sit idly watching the ticker as it went down to 103 thinking sub 100... Bought back in at a loss at 118, we've been stable way too long and have broken through all the bearish trendlines. I really see no reason not to be long right now.

As long-time wall followers will know I'm a TA sceptic at the best of times but I'd be especially wary for the next few days at least to read too much into the Mtgox data in isolation of the other exchanges.  Where mtgox is too far off the other exchanges the likelihood is it is because people are buying btc to get them out of mtgox and very few have the means to do the arbitrage to even it out.

Long-time wall thread followers will also know I am a very optimistic long-term bull and am virtually always more questioning of anything more than slight bearish predictions than I am of bullish predictions.  However in this instance I think we could see negative repercussions of the Dwolla/mtgox episode rumble on for some time yet.

[lebing]

  However in this instance I think we could see negative repercussions of the Dwolla/mtgox episode rumble on for some time yet.

Its clear that the dwolla mtgox episode will affect the market for some time, but I'm curious what makes you think it will be negative? In the short term, I believe it will push the price up and in the long term provide a new price discovery mechanism (at the moment unknown what exactly that will be) along with much needed diversity on the exchanges.

[Rampion]

  However in this instance I think we could see negative repercussions of the Dwolla/mtgox episode rumble on for some time yet.

Its clear that the dwolla mtgox episode will affect the market for some time, but I'm curious what makes you think it will be negative? In the short term, I believe it will push the price up and in the long term provide a new price discovery mechanism (at the moment unknown what exactly that will be) along with much needed diversity on the exchanges.

I believe the panic triggered bu the Dwolla situation is pretty much over, unless the DHS states that this was a first action against Bitcoin itself, and not against a specific user or against gambling, which are two things not directly related to BTC.

Not going to double digits after the initial Dwolla/MtGox FUD is an über-bullish sign.

Bulls are strong, bears are crapping their pants, and most of the members in here already sold their BTC (at least some of them) and they are waiting "the best entry point". Heck, even Smoothie sold some BTC and is waiting to buy back, IMO this means that NOW is a good entry point - maybe not the best in the short term, but I really do not see how we could be going under $90 unless something really bad happens.

[Rampion]

[Rampion]

Sorry to steal the show, but even after spending 36 hours in an emergency care unit, I still think $1,000+ peak valuation is unstoppable before Christmas. My experiences tell that even the patients here are eager to buy by the truckload, as soon as they get into the position to do so. Not everyone was picked when he had all his belongings packed to two nice cabin bags (+the silver).

Care to let us know what are your symptoms and pathology in your doctor's opinion?

Hope you get better BTW.

[billington.mark]

Interesting weekend ahead with the ask\bid spread being so far apart...

[lebing]

Interesting weekend ahead with the ask\bid spread being so far apart...

Indeed - especially as the bitcoin conference starts today...

[Pzi4nk]

Not going to double digits after the initial Dwolla/MtGox FUD is an über-bullish sign.

Yes, I agree. It didn't fall as much as I expected it would. I was hoping to buy in below $90.

Bulls are strong, bears are crapping their pants, and most of the members in here already sold their BTC (at least some of them) and they are waiting "the best entry point". Heck, even Smoothie sold some BTC and is waiting to buy back, IMO this means that NOW is a good entry point - maybe not the best in the short term, but I really do not see how we could be going under $90 unless something really bad happens.

Again, agree. I finally bought back at $111, but that was just luck. It's been pretty well supported above $115 lately.

No one can predict the future of bitcoin but if you're bullish I believe it's as good a time as any to get back in.

[ChartBuddy]

[wonkytonky]

912.3      666.0000 116.77020

1650.7   666.0000116.66660



someone is playing games

[Miz4r]

There are over 140k coins waiting to be bought on the bid side from $70 and up, not sure if this is an ATH or not but I have never seen it this high. Just for comparison it was at 100k after the Dwolla news hit, so that's 40% growth on the order book from $70 and up in a matter of days..

[ChartBuddy]

[Le Happy Merchant]

There are over 140k coins waiting to be bought on the bid side from $70 and up, not sure if this is an ATH or not

Dude, there's a graph on the same page as your post that tells you the answer.

[Miz4r]

There are over 140k coins waiting to be bought on the bid side from $70 and up, not sure if this is an ATH or not

Dude, there's a graph on the same page as your post that tells you the answer.

That graph shows what's on the entire orderbook, I was talking only about orders from $70 and up.

[aepfel]

What about this? Good strategy?

[HerrDoktor]

912.3      666.0000 116.77020

1650.7   666.0000116.66660



someone is playing games

I have no idea what you mean 

Tata