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

[oda.krell]

I missed it, I missed it. Oh boy...

Can somebody please summarize what just happened? How big was the sell, when exactly did it happen, were there any indications... can somebody fill me in on what I missed?

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[ardana123]

I missed it, I missed it. Oh boy...

Can somebody please summarize what just happened? How big was the sell, when exactly did it happen, were there any indications... can somebody fill me in on what I missed?

can someone be this lazy?

[gizmoh]

I think some try to read too much into this, it's just big players trying to manipulate the market to their advantage. There is no reason to get wet dreams about $50 already, bitcoin does whatever the fuck it wants. Perhaps tomorrow it will rally up to $140. At least that sounds more likely than seeing $50 again just because some whales had a pillow fight just now.

That's what scares me the most. The amount of people who can't wait for the price to drop to 50. Their greed is more important to them than the coin surviving at all.
I doubt they even realize how very bad a drop to 50 right now would be.

Wrong, a sell off down to $50 assuming it held would make a triple bottom and would form a good basis for going up from there.

If only it wouldn't go up so fast.

Remember the price was $50 only a few weeks ago.

Only a higher low (>103 ) would not cause loss of confidence.

[fr33d0miz3r]

I missed it, I missed it. Oh boy...

Can somebody please summarize what just happened? How big was the sell, when exactly did it happen, were there any indications... can somebody fill me in on what I missed?

It was just this:

[prof7bit]

Clarkmoody died on me. Bitcoinity holding.  Any other sources I can look?

Install the goxtool trading client.

[ChartBuddy]

[Bitcycle]

Yeah, $50 isn't gonna happen, guys. That train left the station.  If you're waiting for 50 you might as well buy back now.


There's already about 6800 coins in bids on top of the low from that dump.  Keep waiting for "cheap coins" and you'll just be buying higher.

[IG0BR0KE]

Yeah, $50 isn't gonna happen, guys. That train left the station.  If you're waiting for 50 you might as well buy back now.


There's already about 6800 coins in bids on top of the low from that dump.  Keep waiting for "cheap coins" and you'll just be buying higher.

 and yesterday we had 10k on 127...

[Bitcycle]

Yeah, $50 isn't gonna happen, guys. That train left the station.  If you're waiting for 50 you might as well buy back now.


There's already about 6800 coins in bids on top of the low from that dump.  Keep waiting for "cheap coins" and you'll just be buying higher.

 and yesterday we had 10k on 127...

Spot the difference in the situations.

[lunarboy]

Wow, what the hell happened? My buy order at $120 got filled! Now the question is, should i sell at $123? 

nah ... it was a one off large trade, the general trend is up up up 

[niothor]

Yeah, $50 isn't gonna happen, guys. That train left the station.  If you're waiting for 50 you might as well buy back now.


There's already about 6800 coins in bids on top of the low from that dump.  Keep waiting for "cheap coins" and you'll just be buying higher.

Is that what you think it will happen , or what you want to happen?

Spot the difference!

[samson]

I think some try to read too much into this, it's just big players trying to manipulate the market to their advantage. There is no reason to get wet dreams about $50 already, bitcoin does whatever the fuck it wants. Perhaps tomorrow it will rally up to $140. At least that sounds more likely than seeing $50 again just because some whales had a pillow fight just now.

That's what scares me the most. The amount of people who can't wait for the price to drop to 50. Their greed is more important to them than the coin surviving at all.
I doubt they even realize how very bad a drop to 50 right now would be.

Wrong, a sell off down to $50 assuming it held would make a triple bottom and would form a good basis for going up from there.

If only it wouldn't go up so fast.

Remember the price was $50 only a few weeks ago.

You are seriously saying a crash to 50 at this point wouldn't cause massive loss in confidence? You are joking right?

Yes. No joke.

Look it up - 'triple bottom'

This pattern is considered to be a very reliable indication that the downtrend has reversed and that the new trend is in the upward direction.

[gizmoh]

Yeah, $50 isn't gonna happen, guys. That train left the station.  If you're waiting for 50 you might as well buy back now.


There's already about 6800 coins in bids on top of the low from that dump.  Keep waiting for "cheap coins" and you'll just be buying higher.

 and yesterday we had 10k on 127...

Spot the difference in the situations.

Around 15k coins were bought around 119-120, if it price drops again below 120, expect another sell off..

[crumbcake]

Noob question:  Can anyone explain the spike to 130 following the [unmentionable]?  It doesn't seem to make sense no matter how i read it  And only on Gox?  

[Bitcycle]

Yeah, $50 isn't gonna happen, guys. That train left the station.  If you're waiting for 50 you might as well buy back now.


There's already about 6800 coins in bids on top of the low from that dump.  Keep waiting for "cheap coins" and you'll just be buying higher.

Is that what you think it will happen , or what you want to happen?

Spot the difference!

Keep waiting for those $50 coins!

Talk about a dream...

[IG0BR0KE]

Yeah, $50 isn't gonna happen, guys. That train left the station.  If you're waiting for 50 you might as well buy back now.


There's already about 6800 coins in bids on top of the low from that dump.  Keep waiting for "cheap coins" and you'll just be buying higher.

Is that what you think it will happen , or what you want to happen?

Spot the difference!

let him buy when it goes down it's because there're guys like him we can make money.. 

[samson]

Yeah, $50 isn't gonna happen, guys. That train left the station.  If you're waiting for 50 you might as well buy back now.


There's already about 6800 coins in bids on top of the low from that dump.  Keep waiting for "cheap coins" and you'll just be buying higher.

Is that what you think it will happen , or what you want to happen?

Spot the difference!

Keep waiting for those $50 coins!

Talk about a dream...

It was an 'impossible  dream' to even think about getting a $100 coin on about April 9th this year. That soon came to fruition, then when they were selling for $50-$60 a few days later $100 didn't seem like such a bargain any more.

People around here have very short memories.

Nothing's impossible. Bitcoin could be trading for $10, $50, $100 or even higher over the next few months.

[Rampion]

I think some try to read too much into this, it's just big players trying to manipulate the market to their advantage. There is no reason to get wet dreams about $50 already, bitcoin does whatever the fuck it wants. Perhaps tomorrow it will rally up to $140. At least that sounds more likely than seeing $50 again just because some whales had a pillow fight just now.

That's what scares me the most. The amount of people who can't wait for the price to drop to 50. Their greed is more important to them than the coin surviving at all.
I doubt they even realize how very bad a drop to 50 right now would be.

The coin will survive even if it goes to single digits, and then it will rise stronger.

As it did in 2011.

[ShroomsKit]

I think some try to read too much into this, it's just big players trying to manipulate the market to their advantage. There is no reason to get wet dreams about $50 already, bitcoin does whatever the fuck it wants. Perhaps tomorrow it will rally up to $140. At least that sounds more likely than seeing $50 again just because some whales had a pillow fight just now.

That's what scares me the most. The amount of people who can't wait for the price to drop to 50. Their greed is more important to them than the coin surviving at all.
I doubt they even realize how very bad a drop to 50 right now would be.

The coin will survive even if it goes to single digits, and then it will rise stronger.

As it did in 2011.

You act as if it is something that can't be stopped. Or die, ever. As much as i want to believe it as well i'm afraid that won't be the case. More and more people will give up investing in something that drops 2/3 in price every few months. It can't just go on forever without it finally dying completely.
Bitcoin is is strong but not that strong.

[zemario]

I think some try to read too much into this, it's just big players trying to manipulate the market to their advantage. There is no reason to get wet dreams about $50 already, bitcoin does whatever the fuck it wants. Perhaps tomorrow it will rally up to $140. At least that sounds more likely than seeing $50 again just because some whales had a pillow fight just now.

That's what scares me the most. The amount of people who can't wait for the price to drop to 50. Their greed is more important to them than the coin surviving at all.
I doubt they even realize how very bad a drop to 50 right now would be.

Wrong, a sell off down to $50 assuming it held would make a triple bottom and would form a good basis for going up from there.

If only it wouldn't go up so fast.

Remember the price was $50 only a few weeks ago.

You are seriously saying a crash to 50 at this point wouldn't cause massive loss in confidence? You are joking right?

No, people just want to sound badass. It's the absurd attitude of "oh, i'm not afraid of price drops,it's food for me, I earn money with it".

It's pathetic indeed... noobs learn the hard way that trading is just a complicated way to loose money in the long run. Investing is a fundamentally different thing than trading. But those who know how to invest are just a tiny amount of people compared to the huge wave of dumb big mouth pseudo-traders.

It's absurd to look at a 120->50 drop as an opportunity to get 'cheap coins'. What are 'cheap coins'? Where is it written that bitcoins will worth much more than they do now even if they can drop to 50 every now and then? 50 usd might be extremely expensive coins if bitcoin goes down to 1 usd.

Look at the posts yesterday... no mention whatsoever about a price drop. someone dumps a huge amount of BTC on MtGox then suddenly everybody was expecting it and was just waiting for an opportunity to buy coins. Yeah, sure.
Funny thing no one even thinks about the perfect opportunity that the seller caught. There was a massive bid wall, whomever had a big amount of coins to sell could comfortably do it without seeing their order stretching over a 20 dollar wide price range beyond the trading price. It was nothing but the perfect timing to cash out to fiat if you had a big amount of BTC.

It's the same when the walls show up. Everybody is a market analysis specialist and is 100% sure of their stupid explanation of how every wall is 'obviously market manipulation'. I find it quite entertaining, just look at the market the last couple of weeks. Bitstamp wall is 2~3 weeks old and has held there with the price scratching it every now and then, MtGox wall gets consumed. Manipulation theorists could simply shut up, but they are already busy saying that they have always been bears.