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

[Richy_T]

idk what to do!

When in danger, when in doubt,
Run in circles, scream and shout.

[gizmoh]

when you don't have coins anymore to push the price down you need to reload...

LOL thats surely the job of a govt agency reloading bullets high price to sell lower..
I'd rather think its one stupid whale having tons of coins and spending his spare fiat desperately hoping for the train to follow

[Rampion]

Price plummeting as expected. The big buyers who propped the price up from $99 to $110 where kinda reckless - there's absolutely no buying pressure to support their move.

Now we have a mini-wall of aprox. $240k at $101. Lately we hadn't had much "fake walls" being pulled, both bid and asks have been pretty "honest" and they have been filled. Therefore, that mini-wall at $101 could slow the downtrend a bit. Anyhow, I really don't see the point of buying at $101, as there is absolutely no support around $100, apart from that mini-wall at $101. Next real support point at $90, and next crucial support at $80ish -> if that point is broken, $50 coins will be around the corner.

[ChartBuddy]

[Jaroslaw]

I dump some coins sorry for downtrend

[Richy_T]

Actually the only thing worrying me for the middle term BTC price is the legal situation in USA.
How is that now? Still endangered by the department for homeland security?

It will always be in danger. Even if it looks safe for now (which it doesn't IMO), that doesn't count for much if it looks like BTC might actually be some threat to the dollar or even just a change in the administration or makeup of the elected bodies.

[phoenix1]

Price plummeting as expected. The big buyers who propped the price up from $99 to $110 where kinda reckless - there's absolutely no buying pressure to support their move.

Now we have a mini-wall of aprox. $240k at $101. Lately we hadn't had much "fake walls" being pulled, both bid and asks have been pretty "honest" and they have been filled. Therefore, that mini-wall at $101 could slow the downtrend a bit. Anyhow, I really don't see the point of buying at $101, as there is absolutely no support around $100, apart from that mini-wall at $101. Next real support point at $90, and next crucial support at $80ish -> if that point is broken, $50 coins will be around the corner.

When you take out that 'reckless buy', TBH, there wasn't really that much volume in the rally. No volume at all in this downtick. I smell a short-term bear trap TBH unless someone really panics (or creates one)
I agree with you medium-term outlook, just think we will hang around a few days or longer before it plays out.
$88 - $110 was a pretty big move ... 25% ... pretty reasonable to have a pullback after that

[ardana123]

I dump some coins sorry for downtrend

you learn english sorry for advice

[BitPirate]

Price plummeting as expected. The big buyers who propped the price up from $99 to $110 where kinda reckless - there's absolutely no buying pressure to support their move.

Now we have a mini-wall of aprox. $240k at $101. Lately we hadn't had much "fake walls" being pulled, both bid and asks have been pretty "honest" and they have been filled. Therefore, that mini-wall at $101 could slow the downtrend a bit. Anyhow, I really don't see the point of buying at $101, as there is absolutely no support around $100, apart from that mini-wall at $101. Next real support point at $90, and next crucial support at $80ish -> if that point is broken, $50 coins will be around the corner.

A lot of the initial rise was due to arbitrage. The selling on Gox was unnatural and too far, too fast caused by blatant manipulation. There were many arb opportunities with a number of other markets not having the appetite to depress as quickly as Gox.

The rise to 110 surprised me, but -- in all honesty -- it is no less rational than the incredible dumps I saw just to drop the price below $100.

[Richy_T]

Wish the forum had a auto partial page refresh, appending only new posts instead having to manually reloading entire pages.
Ajax. Google style.

Hmm. Might not be impossible. Maybe a firefox plugin.

[DanielBTC]

We need more volume in the exchanges..

Jaroslaw time to buy?  

[fr33d0miz3r]

I'll dump 30,000 mBTC now. Sorry for crash guys

[fr33d0miz3r]

you learn english sorry for advice

A мoжeт ты тoгдa pyccкий выyчишь, мyдилa?

[ardana123]

you learn english sorry for advice

A мoжeт ты тoгдa pyccкий выyчишь, мyдилa?

why would i learn a backward language like that

[phoenix1]

you learn english sorry for advice

A мoжeт ты тoгдa pyccкий выyчишь, мyдилa?

why would i learn a backward language like that

sdysdllfd dghjtrjy kjldge

[Rampion]

Mini-wall at $101 growing, is aprox. $270k ATM.

It's slowing the downturn as expected, let's see how much it resists. It's kinda small for the "bright times" standards, when we had +$1M walls, but it's still significant with such low volumes.

EDIT: mini-wall just went down to $160k... Fake or not, I guess some buyers realize that there is no point in buying at $101 when you will be able to buy at $90ish (or even lower) soon enough.

[fr33d0miz3r]

why would i learn a backward language like that

because English is not a single language in the world. So shut up telling not native english speakers how they need to talk.

[ardana123]

you learn english sorry for advice

A мoжeт ты тoгдa pyccкий выyчишь, мyдилa?

why would i learn a backward language like that

sdysdllfd dghjtrjy kjldge

why would i learn a backward language like that

[fr33d0miz3r]

sdysdllfd dghjtrjy kjldge

why would i learn a backward language like that

去地狱

[TheKoziTwo]

why would i learn a backward language like that

because English is not a single language in the world. So shut up telling not native english speakers how they need to talk.

Men engelsk er det språket som flest på nettet kan, og bruker. Siden alle forstår engelsk er det bedre å snakke det, enn russisk, eller hva det nå er som du snakker. Hvis du ikke liker å snakke engelsk, så er det egne sub-forum for andre språk.