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

[Abandon]

I recommend anyone who isn't an expert trader to take an educative read: http://www.babypips.com/school/the-big-three.html

[ChartBuddy]

[Richy_T]

Speculators and traders thrive on volatility. Volatility is not good for bitcoin. Lack of volatility causes speculators to exit. Speculators exiting causes price to drop. Could be a good sign for the long-term health of bitcoin (I won't say "bullish").

Bitcoin needs to build fundamentals. That is what will drive its success.

I agree about the fundamentals, but not in whole about the role of speculators. Having a number of them there who are prepared to risk their own capital to provide liquidity is not such a bad thing.

I don't mean to disparage speculators but I think there is likely such a thing as excess liquidity at times.

[Frozenlock]

I don't mean to disparage speculators but I think there is likely such a thing as excess liquidity at times.

What's the name we give to our most liquid asset?

Money. 

[Richy_T]

I don't mean to disparage speculators but I think there is likely such a thing as excess liquidity at times.

What's the name we give to our most liquid asset?

Money. 

Exactly. And just like with the housing market, there can be too much of it around. Of course, if the governments didn't print so damn much of it...

[Frozenlock]

I was talking of liquidity, not the amount of it.


But on another subject... action!!

More than 8k sold! (And now clarkmoody died on me...)

[FNG]

But on another subject... action!!

Nearly 9k selloff...8,940   damn

[Frozenlock]

Those 4k and 11k walls sure don't look as imposing now...

[Frozenlock]

WoW! Now $105 is reduced to 5.5k!!!

[ShroomsKit]

Ah sunday.  The dumping is starting again. What a surprise. I wonder how many more weeks this will happen.

[lucas.sev]

Now all that matters is if the wall will be pulled or not.

[Frozenlock]

Now all that matters is if the wall will be pulled or not.

It was eaten for more than half its size. I don't think it's fake.

But it's getting smaller by the second...

[lucas.sev]

Now all that matters is if the wall will be pulled or not.

It was eaten for more than half its size. I don't think it's fake.

But it's getting smaller by the second...

Does not mean that one person does not hold 3k of it.

[Frozenlock]

Aaaaand it's gone!!!

[FNG]

Seems to be a lot of patience on the buyers side. Put up a big wall and wait for a big seller to make an exit.

[ShroomsKit]

There is so much money leaving Bitcoin.

[byronbb]

$70 by Wednesday. Then a nice steady rise to $100 again.

You think the 105 wall is fake?

Very jagged walls like that imply ownership by a single person. Fake or real is not really the issue imo; it means buy support can suddenly disappear at the whim of a single market participant.

Thar she blows.

[lucas.sev]

Well I just bought in at 108. Let's see what happens.

You might take that as a warning as usually this causes a whale dump  

I'm sorry Sold at 104, fuck.

[SGExodus]

Unless there are more Pre-Orders for new Mining hardware, such as 32nm ASIC, that accept only BTC in the near future,  there will be little demand on bitcoin.    The price will slide below $90 by end of next week as ASIC vendors dump their bitcoins to pay their supplier/foundry.

[keewee]