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

[dexX7]

I didn't know exactly OKPay's role (shame on me), but they are very huge.

But the odd thing:

Mt.Gox:

Mt. Gox has recently been informed by OKPay, one of
our longtime partners, that they are planning to stop performing wire transfers to and from
all Bitcoin exchanges, including Mt. Gox.

OKPay:

Bitcoin processing temporarily suspended

Two completly different meanings. OKPay could do a server update or anything else. It's not the first time, they suspended BTC processing temporarily.

Mt.Gox information policy is strange. They deleted the Dwolla news and didn't say anything about DHS, not even till now, but now they are playing heads up? +1 for something is in the air, but at Gox, not OKPay.

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[damnek]

Mt.Gox information policy is strange. They deleted the Dwolla news and didn't say anything about DHS, not even till now, but now they are playing heads up? +1 for something is in the air, but at Gox, not OKPay.

Mt.Gox and Mutum Sigillum are legally two different entities. That's the important point here I think.

[AmazonStuff]

I know that it's not welcomed to share bearish opinion, I did some analysis and indicators (MFI, RSI, UI, W%R) are telling me that we will probably hit $120 in the next 24h. I don't have an idea will we go below that. Currently, according to average of all significant moving averages, realistic price is approx. $119-$122. We are driving on a extremely low volume, so something will happen that's for sure, maybe even totally opposite to my prediction.

Cheers

[ardana123]

So basically what you just said is...





Bitcoin does whatever the fuck it wants.

[AmazonStuff]

So basically what you just said is...





Bitcoin does whatever the fuck it wants.

Exactly 

[ShroomsKit]

I know that it's not welcomed to share bearish opinion, I did some analysis and indicators (MFI, RSI, UI, W%R) are telling me that we will probably hit $120 in the next 24h. I don't have an idea will we go below that. Currently, according to average of all significant moving averages, realistic price is approx. $119-$122. We are driving on a extremely low volume, so something will happen that's for sure, maybe even totally opposite to my prediction.

Cheers

Basically you are saying we will either go up or down?

[aepfel]

The "major battle at $120" will be forgotten as soon as someone posts a funny gif.

no gif, but maybe this?

[spazcoin]

Fiat is pouring out from Gox's order book. Bears are better equipped for the next assault to $125.

It's crucial for the bulls to win that battle. If they win it for the second time the battlefield will be full of bear corpses, and they won't dare to try to take that spot again.

If they make it fall... Well, we will see much cheaper coins (below $120), and a mid term downtrend would be expected.

I disagree, $125 is not important, $120 has much stronger support and is the real line bulls have to defend. And even if it breaks I don't expect a mid term downtrend to form, just a retreat to former stable values in the 105-120 range.

Have to defend? Or just let it fall through $120 and get cheaper coins?

No one should be propping up the price because they consider themself a bull. If we start sliding down to $120, pull your bids. Buy at $100-$115. You now have more coins and in a week no one remembers that we lost "$120 support". The bulls vs bears is a cute storyline we use to pass time. There's only one thing that matters and that's making money. When BTC is sliding, pull your bids. It's okay, you won't cause irrevocable damage to the market/exchange/bitcoin. Wait for it to bottom out and buy back in. We've lost a "support level/line" at every dollar from $1 to $200. Do you remember when we lost $150? Do you remember when we lost $90? Do you remember when we lost $2? Of course not, it doesn't matter (I do however remember losing $2 - lol).

People will say that by doing that, you increase volitilty, hurting the percption of BTC and costing yourself money in the long run. On the other hand by making "$120 support" a big deal, it becomes a big deal if it goes below. Suddenly that MEANS something. Falling to $118 instead of stopping at $120 won't forever haunt Bitcoin. The "major battle at $120" will be forgotten as soon as someone posts a funny gif.

Bitcoin isn't fragile. Investors psyche? Maybe. But that's why we should stop with the overdramatization of fairly minor market swings. Instead of being at $133 we're at $128 because someone dumped a bunch of BTC in a short span. I missed the part where I should suddenly reexamine the fundamental value of Bitcoins. I missed the part where the future of Bitcoin is going to be decided today on MtGox. It's suddenly do or die?

Buy Bitcoins at the lowest price you can get. Don't support a price point. There is no war. It's a very normal market, doing what markets do, any panic tied to $125 or $120 is something you're creating yourself, it's not real.

+1      Economics and markets are driven by self-interest and optimization on a personal, local scale.

[Miz4r]

Price is slowly creeping up again together with the fiat on the books, I feel a buying spree coming on soon...

[Coinseeker]

Fiat is pouring out from Gox's order book. Bears are better equipped for the next assault to $125.

It's crucial for the bulls to win that battle. If they win it for the second time the battlefield will be full of bear corpses, and they won't dare to try to take that spot again.

If they make it fall... Well, we will see much cheaper coins (below $120), and a mid term downtrend would be expected.

I disagree, $125 is not important, $120 has much stronger support and is the real line bulls have to defend. And even if it breaks I don't expect a mid term downtrend to form, just a retreat to former stable values in the 105-120 range.

Have to defend? Or just let it fall through $120 and get cheaper coins?

No one should be propping up the price because they consider themself a bull. If we start sliding down to $120, pull your bids. Buy at $100-$115. You now have more coins and in a week no one remembers that we lost "$120 support". The bulls vs bears is a cute storyline we use to pass time. There's only one thing that matters and that's making money. When BTC is sliding, pull your bids. It's okay, you won't cause irrevocable damage to the market/exchange/bitcoin. Wait for it to bottom out and buy back in. We've lost a "support level/line" at every dollar from $1 to $200. Do you remember when we lost $150? Do you remember when we lost $90? Do you remember when we lost $2? Of course not, it doesn't matter (I do however remember losing $2 - lol).

People will say that by doing that, you increase volitilty, hurting the percption of BTC and costing yourself money in the long run. On the other hand by making "$120 support" a big deal, it becomes a big deal if it goes below. Suddenly that MEANS something. Falling to $118 instead of stopping at $120 won't forever haunt Bitcoin. The "major battle at $120" will be forgotten as soon as someone posts a funny gif.

Bitcoin isn't fragile. Investors psyche? Maybe. But that's why we should stop with the overdramatization of fairly minor market swings. Instead of being at $133 we're at $128 because someone dumped a bunch of BTC in a short span. I missed the part where I should suddenly reexamine the fundamental value of Bitcoins. I missed the part where the future of Bitcoin is going to be decided today on MtGox. It's suddenly do or die?

Buy Bitcoins at the lowest price you can get. Don't support a price point. There is no war. It's a very normal market, doing what markets do, any panic tied to $125 or $120 is something you're creating yourself, it's not real.

Well who would have thunk.   

+1  Very good.

[AmazonStuff]

I know that it's not welcomed to share bearish opinion, I did some analysis and indicators (MFI, RSI, UI, W%R) are telling me that we will probably hit $120 in the next 24h. I don't have an idea will we go below that. Currently, according to average of all significant moving averages, realistic price is approx. $119-$122. We are driving on a extremely low volume, so something will happen that's for sure, maybe even totally opposite to my prediction.

Cheers

Care to share what time frame and indicators you are looking at?

Sure...,

RSI, Money Flow Index, Ultimate Oscillator and Williams %R indicators. Best results are at 6h or 2h intervals (I prefer 6h), various time-frames... You can find all of them at bitcoincharts.com. For analyzing long time frames I can recommend log scale. Technical analysis can help, but on this kind of heavy manipulated market, it should not be taken as granted. I prefer to watch the news, but the real one, not China hype, Paypal WILL PROBABLY, MtGox domain WILL PROBABLY, but something like, Wordpress STARTED using, OKCupid STARTED, MetArt STARTED, etc...

[AmazonStuff]

I know that it's not welcomed to share bearish opinion, I did some analysis and indicators (MFI, RSI, UI, W%R) are telling me that we will probably hit $120 in the next 24h. I don't have an idea will we go below that. Currently, according to average of all significant moving averages, realistic price is approx. $119-$122. We are driving on a extremely low volume, so something will happen that's for sure, maybe even totally opposite to my prediction.

Cheers

Basically you are saying we will either go up or down?

No one can tell that for sure... Even those guys who charge their analysis can't

[San1ty]

Rocket engines, started. Let's do this!
LEEEEEEEEEEEEEEEROOOOOOOOOOYYYYYYYYYYYYYYY

[fr33d0miz3r]

Rocket engines, started. Let's do this!
LEEEEEEEEEEEEEEEROOOOOOOOOOYYYYYYYYYYYYYYY

Do you mean: bear engines?
dump...

[Sitarow]

[ChartBuddy]

[Coinseeker]

Rocket engines, started. Let's do this!
LEEEEEEEEEEEEEEEROOOOOOOOOOYYYYYYYYYYYYYYY

Buckle up Bulls!   

[IG0BR0KE]

We'll not go up until buyers are back, it's not bears who push us down it's just buyers who disappeared

[wonkytonky]

We'll not go up until buyers are back, it's not bears who push us down it's just buyers who disappeared

the 7k wall pushing down was aparently not a bear.. it was just the buyers who disappeared.. 

[Dalib]

panic sell again???