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

[ChartBuddy]

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[michaelGedi]

My bet is that big players are waiting for support to grow in 118-120 region and then they will dump.

why?

because

A - big players already dumped? So if they did already they naturally would do it again.
B - because there is some real deep reason to be dumping right now that we don't know about?
C - just for jokes

or

D - because they think bitcoin is a fad and it's not on fire anymore, only a bubble: http://www.youtube.com/watch?v=A7TuFy0fcuw&hd=1

or

E - because they believe lucif and the general "look at the 2011" past crew and expect a long downtrend despite whatever might be "different this time" https://bitcointalk.org/index.php?topic=131065.msg2352736#msg2352736

or

F - something that I've clearly forgotten

[ElectricMucus]

Check this techcrunch article, it comes with the ultimate perma-bull calculator, you can tweak different variables in it (including % of success for BTC) and get how much one BTC will be worth.

http://techcrunch.com/2013/06/02/calculating-the-long-term-value-of-a-bitcoin/

I will tell you something: regardless of what you put in that calculator, it goes to high 4 digits, and it tells you:

BUY

I just entered 0.01% everywhere with 100% success rate and got $66.

[ft73]

15-min chart pretty ugly ... going down ?

[crumbcake]

why?

because

A - big players already dumped? So if they did already they naturally would do it again.
B - because there is some real deep reason to be dumping right now that we don't know about?
C - just for jokes

or

D - because they think bitcoin is a fad and it's not on fire anymore, only a bubble: http://www.youtube.com/watch?v=A7TuFy0fcuw&hd=1

or

E - because they believe lucif and the general "look at the 2011" past crew and expect a long downtrend despite whatever might be "different this time" https://bitcointalk.org/index.php?topic=131065.msg2352736#msg2352736

or

F - something that I've clearly forgotten

Because they can't dump anything right now without the price dropping by 5 bucks right away?

[fr33d0miz3r]

15-min chart pretty ugly ... going down ?

[Rampion]

Check this techcrunch article, it comes with the ultimate perma-bull calculator, you can tweak different variables in it (including % of success for BTC) and get how much one BTC will be worth.

http://techcrunch.com/2013/06/02/calculating-the-long-term-value-of-a-bitcoin/

I will tell you something: regardless of what you put in that calculator, it goes to high 4 digits, and it tells you:

BUY

I just entered 0.01% everywhere with 100% success rate and got $66.

What?? I cannot enter less than 1%

[ElectricMucus]

Check this techcrunch article, it comes with the ultimate perma-bull calculator, you can tweak different variables in it (including % of success for BTC) and get how much one BTC will be worth.

http://techcrunch.com/2013/06/02/calculating-the-long-term-value-of-a-bitcoin/

I will tell you something: regardless of what you put in that calculator, it goes to high 4 digits, and it tells you:

BUY

I just entered 0.01% everywhere with 100% success rate and got $66.

What?? I cannot enter less than 1%

Well I can.

[michaelGedi]

2 walls at 115 and 125 on gox, channel not filling in between, looks like a stand off between bulls and bears.

on bitstamp on the other hand, still the enourmous ask walls, seem to be slowly creeping down. Interesting that the last couple days have seen stronger bids though on bitstamp than in the medium term past.

[lucas.sev]

My bet is that big players are waiting for support to grow in 118-120 region and then they will dump.

why?

because

A - big players already dumped? So if they did already they naturally would do it again.
B - because there is some real deep reason to be dumping right now that we don't know about?
C - just for jokes

or

D - because they think bitcoin is a fad and it's not on fire anymore, only a bubble: http://www.youtube.com/watch?v=A7TuFy0fcuw&hd=1

or

E - because they believe lucif and the general "look at the 2011" past crew and expect a long downtrend despite whatever might be "different this time" https://bitcointalk.org/index.php?topic=131065.msg2352736#msg2352736

or

F - something that I've clearly forgotten

I think that as now everyone sees that trendline is broken they will try to escape from bitcoin with taking as little hit as possible, and rebuy lower.

[crumbcake]

why?

Because they can't dump anything right now without the price dropping by 5 bucks right away?

Though some are *trying*

[michaelGedi]

why?

because

A - big players already dumped? So if they did already they naturally would do it again.
B - because there is some real deep reason to be dumping right now that we don't know about?
C - just for jokes

or

D - because they think bitcoin is a fad and it's not on fire anymore, only a bubble: http://www.youtube.com/watch?v=A7TuFy0fcuw&hd=1

or

E - because they believe lucif and the general "look at the 2011" past crew and expect a long downtrend despite whatever might be "different this time" https://bitcointalk.org/index.php?topic=131065.msg2352736#msg2352736

or

F - something that I've clearly forgotten

Because they can't dump anything right now without the price dropping by 5 bucks right away?

you missed my point, I'm asking what their motivation might be for dumping in the first place.

The assumption that someone wants to sell a lot, and that the bids are too thin to allow them to sell as much as they want to at the price that they want to totally discounts whether or not someone might want to sell for a good reason in the first place.

A trendline broke, and there is SOME uncertainty in the air. But focusing on that discounts anything to the contrary.


Maybe the million dollar wall was rpetilia because he believed that price was great, maybe the sale that knocked us down was some guy who wanted to buy a nice car... who says there are more big whales desperately waiting to smash bitcoin to smithereens?

EDIT - yes, it's all about the trendline... after all, us humans do like to follow trends

perhaps a new (upwards) trendline will emerge that is less aggressive? who knows... it doesn't have to be some self fulfilling prophecy

[ShroomsKit]

15-min chart pretty ugly ... going down ?

What's that?

[Ivanhoe]

Mt.Gox took the lead again over Bitstamp.

[adamstgBit]

15-min chart pretty ugly ... going down ?

omg wow!

i want to watch that in hd

[fr33d0miz3r]

15-min chart pretty ugly ... going down ?

omg wow!

i want to watch that in hd

http://www.youtube.com/watch?feature=player_embedded&v=zamF3Y-rBxM

[Frozenlock]

Which trendline?

Maybe this one:


Or this one:


Or this one:



 

[lucas.sev]

you missed my point, I'm asking what their motivation might be for dumping in the first place.

I think that they have noticed that mood has changed significantly since wallzilla and 15 dollar drop and that's why they want out, at least for a while.

[ft73]

on bitstamp on the other hand, still the enourmous ask walls, seem to be slowly creeping down. Interesting that the last couple days have seen stronger bids though on bitstamp than in the medium term past.

Yes, i followed the rumble down of around 300btc, till 119,89.
Child play :|

[molecular]

This is a meaningless chart from May 11th. We're still in meaningless yellow territory (although $125 had been broken and new uptrend established (which was slightly exciting). But it's now invalidated.). So we're smurfing along in yellow territory.

I'm getting the feeling it can take a long time to get either below $80 or above $150 (which would establish new down/up trend).

Good or bad? Well, below $80 would be bad in my view. Above $160 would be great. Yellow area is good, too.

Btw: I stopped trading shortly after I made that chart for tax risk reasons and I have more time on my hands now for other things. This is great, you guys should try it .