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

[phoenix1]

GUYS,GUYS, you're missing the action ... we just made a new 24 hour high ... 122.1  
The rally is ON !

EDIT ... 122.5 !!

Let's talk about math, baby
Let's talk about math, baby
Lets talk about all the good and all the bad trigonometry

[nmersulypnem]

GUYS,GUYS, you're missing the action ... we just made a new 24 hour high ... 122.1  
The rally is ON !

someone gobbled up 1100 btc from 121.5 -> 122.5

[sarc]

log_(n)(x) and log_(n)(x+1) are of course not the same. If sarc stated that, he was wrong. Funny enough, for his results it shouldn't really matter much, the difference will be minimal I think.

It would have quite an effect when the price was really low (think around $0.1)

[snip]

Valid point. I forgot that trading started below 1 USD.

Anyway, to make it a bit more interesting for the general population of this thread, summary time!

(1) sarc's exact modelling techniques aside, the graph he posted is not entirely different from similar results that have been posted before. sarc's regression analysis sees the price below 30 USD right now (correct me I'm wrong, please), while the others had us in the realm of 50 USD (does anybody have a link to one of those?).

(2) regression analysis is a well-founded statistical technique, but by no means guaranteed to accurately predict the future price.

(2) Math is hard. Let's go shopping.

I prefer people summarising my efforts to use more positive superlatives, but ok.

[Cablez]

GUYS,GUYS, you're missing the action ... we just made a new 24 hour high ... 122.1  
The rally is ON !

No wait........Sell Sell Sell.

[Miz4r]

GUYS,GUYS, you're missing the action ... we just made a new 24 hour high ... 122.1 
The rally is ON !

Omg this is crazy! I can see a new bubble forming already.

[oda.krell]

I prefer people summarising my efforts to use more positive superlatives, but ok.

Hey, it was your choice to enter academia, now you gotta deal with peer review.

[Ivanhoe]

[MickeyT2008]

GUYS,GUYS, you're missing the action ... we just made a new 24 hour high ... 122.1  
The rally is ON !

Omg this is crazy! I can see a new bubble forming already.

Maybe everything from the April crash onwards is just one huge bear trap and it'll be $10000 coins next week, lol!

Maybe I should have Bugatti on speed dial just in case

[phoenix1]

C'mon maths gurus ... which one of you finally ceded the point and decided the only thing to do was to buy more ?
Which line or angle was the final straw ?

[ChartBuddy]

[MelMan2002]

Hilarious that everyone gets their feathers ruffled over a "bearish" chart.  I don't put a lot of stock in charts at this point in the game but it isn't like his was unique.  blockchained.com has a line that puts it around $60 right now (we can ignore the bit about difficulty):

[lebing]

You guys are entirely too excited about a 1k buy. 6 months ago we used to piss 1k buys around here.

[sarc]

C'mon maths gurus ... which one of you finally ceded the point and decided the only thing to do was to buy more ?
Which line or angle was the final straw ?

Do you want to see a pretty graph I drew?

[phoenix1]

Hilarious that everyone gets their feathers ruffled over a "bearish" chart.  I don't put a lot of stock in charts at this point in the game but it isn't like his was unique.  blockchained.com has a line that puts it around $60 right now (we can ignore the bit about difficulty):

Based on what parameters hey ? What  assumptions have you made ? How dare you  

[phoenix1]

You guys are entirely too excited about a 1k buy. 6 months ago we used to piss 1k buys around here.

lebing, we are taking the piss

sarc ... it might the last one you draw

[sarc]

You guys are entirely too excited about a 1k buy. 6 months ago we used to piss 1k buys around here.

lebing, we are taking the piss

sarc ... it might the last one you draw

that sounds like fighting talk, just wait there while I grab my pencils.

[oda.krell]

Forget trend lines. They're bullshit anyway :3

This is what make me cautiously optimistic, for the coming days at least:



Then again, there's this:

[michaelGedi]

there was a rather large buy on bitstamp recently as well, http://www.coinorama.net/#


it took a chunk out of the ask walls.

I've also noticed that the bid walls are starting to solidify gradually on bitstamp now... including a larger than normal one at 120 forcing people to buy above it, and a decent size amount of bids around 100 that started to grow after the flash crash/big sale the other day


EDIT - can someone school me on what "chaikin money flow" measures?

EDIT 2 - so I googled... so yeah basically we know that the large asks at bitstamp stemmed from around the time of the dwolla incident and the loss of confidence in mtgox' ability to transfer money easily internationally. We also know that this ask wall is in part due to the fact if you want to cash out, bitstamps SEPA transfers and fees are quicker and cheaper.

This increased selling pressure is therefore totally understandable, but it seems to be gradually countered by increased bids... still massively outweighed by ask walls, but the ratio of money/coins on gox is still in gox favour.

[billington.mark]

Forget trend lines. They're bullshit anyway :3

This is what make me cautiously optimistic, for the coming days at least:



Then again, there's this:

Forgive my stupidity but could you expand on what that chart shows and how the highlighted parts have significance?

[Miz4r]

Why do things always have to look more bullish when my new fiat arrives? This way I can't buy at the dip.