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

[Dalib]

Yet it really seems that 81.87 will be possible bottom at this moment. But for how long? Again, just a few hours?

[Jozzaboy]

I think people are betting on MTGox being competent tomorrow. What if they announce that they still haven't got their bank up to scratch and it will be another 2 weeks until you can withdraw?

No no, no chance of a bounce at all.

Bull traps always happen and often times quite violently, but deluded bulls will say it's the emergence of a new bull market because China Winklevoss Argentina Turkey Cyprus instead of selling. I won't make any efforts to predict them, and I'm not at all actively trading.

Thanks but once again, I'm looking for a good point to short with the lowest possible risk. Just dumping everything on the market right now might cause me to miss the bottom. Yes, I believe we are that close to it.

[lysr]

Tried to withdraw 10000 usd a few days ago, support staff said I had to wait for at least 2 more weeks because they were having a long queue of requests to process. I doubt this problem will get resolved anytime soon.

[Frozenlock]

I found this little gem on reddit:

Not worth selling with current price.

 

[sarc]

I think people are betting on MTGox being competent tomorrow. What if they announce that they still haven't got their bank up to scratch and it will be another 2 weeks until you can withdraw?

No no, no chance of a bounce at all.

Bull traps always happen and often times quite violently, but deluded bulls will say it's the emergence of a new bull market because China Winklevoss Argentina Turkey Cyprus instead of selling. I won't make any efforts to predict them, and I'm not at all actively trading.

Thanks but once again, I'm looking for a good point to short with the lowest possible risk. Just dumping everything on the market right now might cause me to miss the bottom. Yes, I believe we are that close to it.

because....

by the way, I love how your picture is so perfectly in tune with your forum personality.  

[Its About Sharing]

Something doesn't seem right. Market depth is so heavily in favour of buy with 1k moving us down 1 dollar or up 5 dollars.

I'm holding, as usual  

The question is, are those bid walls (or depth) real?
That is the hard thing. Looking at the depth I say "bullish" and then another sell of 500 goes through. I've wondered if it's the same people or parties...

[Its About Sharing]

Yet it really seems that 81.87 will be possible bottom at this moment. But for how long? Again, just a few hours?

Exactly, if it is a "floor" with no buys coming through then I am not impressed. It seems like just another silence before the storm.
But again, we are on levels where we could bounce violently. But I don't feel like gambling...

[Jozzaboy]

I think people are betting on MTGox being competent tomorrow. What if they announce that they still haven't got their bank up to scratch and it will be another 2 weeks until you can withdraw?

No no, no chance of a bounce at all.

Bull traps always happen and often times quite violently, but deluded bulls will say it's the emergence of a new bull market because China Winklevoss Argentina Turkey Cyprus instead of selling. I won't make any efforts to predict them, and I'm not at all actively trading.

Thanks but once again, I'm looking for a good point to short with the lowest possible risk. Just dumping everything on the market right now might cause me to miss the bottom. Yes, I believe we are that close to it.

because....

by the way, I love how your picture is so perfectly in tune with your forum personality.  

Shit... that is a picture of me on Galveston beach. What exactly are you trying to say here chief?? 

[bangersdad]

wouldnt you have expected some news from gox if everything was okay for tomorrow?

they would have given a "status update" just to let everyone that the 2 week estimate was still accurate.

i think the saying no news is bad news applies here.

[gandhibt]

Yet it really seems that 81.87 will be possible bottom at this moment. But for how long? Again, just a few hours?

Exactly, if it is a "floor" with no buys coming through then I am not impressed. It seems like just another silence before the storm.
But again, we are on levels where we could bounce violently. But I don't feel like gambling...

I did. I bought 100 BTC @ average of (gox 0.5 % included) $81.27 and waiting to sell again...

EDIT.

I sold all my trading coins (100 BTC) @ average 101.97 USD/BTC. I think I'll buy back @ 80-85 USD/BTC.

EDIT2. although I have added more funds to trading wallet.

[Miz4r]

The 'problem' is that the current sell off is happening in slow motion. There is no panic selling going on at all, just a couple dumps over the course of a day and no real buying pressure to bring the price back up. This makes it hard to predict a bottom or a bounce, it could slide down for a while longer until bulls finally wake up.

[bito]

I think people are betting on MTGox being competent tomorrow. What if they announce that they still haven't got their bank up to scratch and it will be another 2 weeks until you can withdraw?

No no, no chance of a bounce at all.

Bull traps always happen and often times quite violently, but deluded bulls will say it's the emergence of a new bull market because China Winklevoss Argentina Turkey Cyprus instead of selling. I won't make any efforts to predict them, and I'm not at all actively trading.

Thanks but once again, I'm looking for a good point to short with the lowest possible risk. Just dumping everything on the market right now might cause me to miss the bottom. Yes, I believe we are that close to it.

because....

by the way, I love how your picture is so perfectly in tune with your forum personality.  

Shit... that is a picture of me on Galveston beach. What exactly are you trying to say here chief?? 

He might be referring to your attitude?

[Frozenlock]

Wow. That's a bear.

[StarenseN]

The 'problem' is that the current sell off is happening in slow motion. There is no panic selling going on at all, just a couple dumps over the course of a day and no real buying pressure to bring the price back up. This makes it hard to predict a bottom or a bounce, it could slide down for a while longer until bulls finally wake up.

"Slow motion" it took 2 years for gold to do the same corrections (or what ever we call it).

[sarc]

I think people are betting on MTGox being competent tomorrow. What if they announce that they still haven't got their bank up to scratch and it will be another 2 weeks until you can withdraw?

No no, no chance of a bounce at all.

Bull traps always happen and often times quite violently, but deluded bulls will say it's the emergence of a new bull market because China Winklevoss Argentina Turkey Cyprus instead of selling. I won't make any efforts to predict them, and I'm not at all actively trading.

Thanks but once again, I'm looking for a good point to short with the lowest possible risk. Just dumping everything on the market right now might cause me to miss the bottom. Yes, I believe we are that close to it.

because....

by the way, I love how your picture is so perfectly in tune with your forum personality.  

Shit... that is a picture of me on Galveston beach. What exactly are you trying to say here chief?? 

wall street go-getter, obviously

[Jozzaboy]

I think people are betting on MTGox being competent tomorrow. What if they announce that they still haven't got their bank up to scratch and it will be another 2 weeks until you can withdraw?

No no, no chance of a bounce at all.

Bull traps always happen and often times quite violently, but deluded bulls will say it's the emergence of a new bull market because China Winklevoss Argentina Turkey Cyprus instead of selling. I won't make any efforts to predict them, and I'm not at all actively trading.

Thanks but once again, I'm looking for a good point to short with the lowest possible risk. Just dumping everything on the market right now might cause me to miss the bottom. Yes, I believe we are that close to it.

because....

by the way, I love how your picture is so perfectly in tune with your forum personality.  

Shit... that is a picture of me on Galveston beach. What exactly are you trying to say here chief?? 

He might be referring to your attitude?

Yes, I don't get too worked up over little things like this. Pretty much guaranteed that BTC will rise above $100 in my lifetime so no sweat. I'm just collecting bitcoins in the mean time.

[Miz4r]

The 'problem' is that the current sell off is happening in slow motion. There is no panic selling going on at all, just a couple dumps over the course of a day and no real buying pressure to bring the price back up. This makes it hard to predict a bottom or a bounce, it could slide down for a while longer until bulls finally wake up.

"Slow motion" it took 2 years for gold to do the same corrections (or what ever we call it).

This is bitcoin, what gold does in a year bitcoin does in a day or two.

[StarenseN]

Wow. That's a bear.

Are you drawing lines on a linear graph ? I mean REALLY ?

[Its About Sharing]

The 'problem' is that the current sell off is happening in slow motion. There is no panic selling going on at all, just a couple dumps over the course of a day and no real buying pressure to bring the price back up. This makes it hard to predict a bottom or a bounce, it could slide down for a while longer until bulls finally wake up.

Yes and if people with $$$ come back into the market the jump up will be explosive. But my bet is it will be sold into...

[ChartBuddy]