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

[Skeptiker]

I regret not putting in a stop order. . Well, lost $40. Now I'm shorting, to see where that gets me.

I think there are still people waking up like me and seeing what has happened, and then selling.

So in essence your strategy is "buy high, sell low"?

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[lucas.sev]

I regret not putting in a stop order. . Well, lost $40. Now I'm shorting, to see where that gets me.

I think there are still people waking up like me and seeing what has happened, and then selling.

So in essence your strategy is "buy high, sell low"?

I think in essence his strategy is "sometimes sell lower and buy even lower"

[Skeptiker]

I regret not putting in a stop order. . Well, lost $40. Now I'm shorting, to see where that gets me.

I think there are still people waking up like me and seeing what has happened, and then selling.

So in essence your strategy is "buy high, sell low"?

I think in essence his strategy is "sometimes sell lower and buy even lower"

Ok, maybe it`s "follow the trend/herd/bellwether".

[Its About Sharing]

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.

What are you talking about?

cheaper coins are expected unless some whales hop on the train

All the indicators are screaming "down" ATM.

I'm on my cell phone so I cannot easily quote more posts from other members, but I can guarantee you that there were a lot of posts screaming about a move downwards during last week.

As I said many times, breaking $125 is a clear trend reversal signal. Expect sub $100 coins very soon. If $80 is broken, expect testing again $50. If that support level is not broken, that's still a bullish sign considering that 1 BTC costed $14 in January this year.

IMO $50 is going to be the very post-bubble bottom, we won't going to go under that level. If we do, we will have a 2011-like scenario.

Time to build up funds if we do break support, try to best "guess" the next bottom and build on your position.
There is just too much happening with BTC to run away. Great buying opportunity considering support (technically & somewhat fundamentally) has been building.
Considering this was a manipulative weekend sell that initiated things, should be an interesting week. Do those VC's and such that are buying into and around Bitcoin, bully up and support it? My guess is yes, but who knows.

[worldinacoin]

It looks like an attempt to sell just to make Bitcoin prices lower.

[TheKoziTwo]

As I said many times, breaking $125 is a clear trend reversal signal. Expect sub $100 coins very soon. If $80 is broken, expect testing again $50. If that support level is not broken, that's still a bullish sign considering that 1 BTC costed $14 in January this year.

IMO $50 is going to be the very post-bubble bottom, we won't going to go under that level. If we do, we will have a 2011-like scenario.

You just have to rub it in, don't you ?

[ChartBuddy]

[lucas.sev]

It looks like an attempt to sell just to make Bitcoin prices lower.

I wonder why they did not just do that. At one point it cost only around 200 BTC to break 115.

[Frozenlock]

As I said many times, breaking $125 is a clear trend reversal signal. Expect sub $100 coins very soon. If $80 is broken, expect testing again $50. If that support level is not broken, that's still a bullish sign considering that 1 BTC costed $14 in January this year.

IMO $50 is going to be the very post-bubble bottom, we won't going to go under that level. If we do, we will have a 2011-like scenario.

Finding the 2011 bottom took a loooooong time.

It was a never ending excruciating winter. I suspect many newcommers will die in the process. 

[Psikopit]

It looks like an attempt to sell just to make Bitcoin prices lower.

I wonder why they did not just do that. At one point it cost only around 200 BTC to break 115.

Not enough volume at this point?

[MelMan2002]

Wheeeee!

[niothor]

It looks like an attempt to sell just to make Bitcoin prices lower.

I wonder why they did not just do that. At one point it cost only around 200 BTC to break 115.

Selling in one wave doens't do that much damage and they had to keep an extra if the price bounced back.... like it happend.......
Also they need to restock on their way down ....for further dumps

But this pure speculation, and I really doubt that it was an attack.

[ShroomsKit]

It looks like an attempt to sell just to make Bitcoin prices lower.

I wonder why they did not just do that. At one point it cost only around 200 BTC to break 115.

It's people cashing out. Not rebuying. Not a good sign.

[bitcodo]

Some can get stuck in it.

[gizmoh]

Notice lack of support walls, its not cheap enough for the whales..It gonna be a long day..

[micalith]

It looks like an attempt to sell just to make Bitcoin prices lower.

I wonder why they did not just do that. At one point it cost only around 200 BTC to break 115.

It's people cashing out. Not rebuying. Not a good sign.

Why do you reckon they're not planning to rebuy after a bit longer from a manipulated short-term trend reversal?

[Frozenlock]

From Reddit:

http://www.reddit.com/r/Bitcoin/comments/1fiu48/beginning_to_worry_yet/

- Beginning to worry yet?

--This is what happens when the govt. scares the hell out of new investors. It doesn't help that the verification process to get on Mt. Gox takes was made more difficulty.

--No worries, 115 is a strong support and it holds well.

--June is bad for all investments. Go outside and spend some money.

--Buy all the coins!!

--im holding for the longest time

------------

 

[Its About Sharing]

It looks like an attempt to sell just to make Bitcoin prices lower.

I wonder why they did not just do that. At one point it cost only around 200 BTC to break 115.

It's people cashing out. Not rebuying. Not a good sign.

I wouldn't look at it like that. It is Sunday and I'm sure a lot of auto sells are being triggered.
We will see what we got this week. And if that isn't much, time to reload for better prices.  
I can imagine how you old timers feel - totally unfazed by this. Nice feeling...

[lucas.sev]

200BTC to 128USD

[BitcoinAshley]

It looks like an attempt to sell just to make Bitcoin prices lower.

I wonder why they did not just do that. At one point it cost only around 200 BTC to break 115.

It's people cashing out. Not rebuying. Not a good sign.

What? Dumping thousands of coins in one market order is possibly the WORST way to cash out in existence. All signs point to "NOT people cashing out."

So what makes you say, with such certainty, "It's people cashing out." Stupidity? Ignorance? Thinking that dumping thousands of coins in one market order and experiencing slippage 2 DA MAX is the best way to cash out rather than the worst? 

EDIT: And no, the fact that they did not instantly rebuy all $2.5 million worth of coins and bring price back up to 125+ does not definitively mean they are cashing out. That's not how this game works.