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

[Its About Sharing]

Just a random observation from blockchained :

I can't help but to notice 2 things :
* we just touched and bounced off the dotted line - long-term trendline - which has provided good support since day 1.
* "mining factor" is almost at an all time low, and has been dropping like crazy lately.

Thoughts ?

I can't see there being a relationship between the hash rate and the price, at least in that I don't see a higher hash rate increasing the price.

This is an interesting chart from blockchain.info and it makes one wonder about getting into mining. All those new super powerful rigs coming out, how can the small guy keep up?
Worrisome to me about a group getting 51% of the control IF, IF the rigs don't come down in price like other electronic items.



And revenue is stabilizing, for now....

[Its About Sharing]

It's clear the wall served its purpose

If there were enough buyers we'd eat right through that wall. This should be worrisome to "bulls" as we are coming off the first rally in a while AND coming off support.

But, we do have to see what happens once America is awake fully.

[MickeyT2008]

It's clear the wall served its purpose

If there were enough buyers we'd eat right through that wall. This should be worrisome to "bulls" as we are coming off the first rally in a while AND coming off support.

But, we do have to see what happens once America is awake fully.

Maybe when Megawallzillabull gets out of bed we'll get a trend reversal as he laughs at Wallzilla's tiny bear wall and gobbles it all up.  With a name like that he's probably American so he'll still be asleep

[ChartBuddy]

[bangersdad]

gox at 76.9
btc-e at 72.0

?

arbitration across the nation

[MickeyT2008]

You look a mess Chartbuddy, go and brush your hair!

[NewLiberty]

Lol, I still don't know why they say they have to 'trust hackers', why not just actually go and read the sourcecode if you actually think that nobody would have pointed something like that out by now its open source for goodness sakes.

Also what the heck is it with the term 'hacker' anyway, its like they want to tag him as evil for no reason whatsoever.

You forget...To news people, a hacker is someone that either knows what source code is, or can read source code.
We are like aliens to these people.

[wonkytonky]

It's clear the wall served its purpose

If there were enough buyers we'd eat right through that wall. This should be worrisome to "bulls" as we are coming off the first rally in a while AND coming off support.

But, we do have to see what happens once America is awake fully.

some will  ..   sell high the coins they bought since last low (66 ish ) for an easy profit..

some will pig

some will buy thinking the price will go higher (cup handle pattern) to make a quick profit  since the 4h ema's are about to cross.  but we seen this before. always just when they cross some guy come's in and dump enough to break the rally. (well maybe it's not a manipulator but just people not feeling the uptrend yet .; selling at the best price at that time)



i'm just not buying.. the only reason why price has gone up is because of 3-4 big buys.. not because everybody is in a buying spree

[crumbs]

Trying to remember:  after a corpse bloats & floats to the surface, bobbing all nasty-like around ~69-79, does it keep floating or deflate & eventually sink

[Dalib]

I think that if we stay above $ 74, the next bullish wave will be against the 80 wall.

When short-time overbought little drops.

Otherwise, we can probably fall back at  60 - 70 again ....

[ChartBuddy]

[MickeyT2008]

Trying to remember:  after a corpse bloats & floats to the surface, bobbing all nasty-like around ~69-79, does it keep floating or deflate & eventually sink

What a lovely metaphor!

[Traktion]

Trying to remember:  after a corpse bloats & floats to the surface, bobbing all nasty-like around ~69-79, does it keep floating or deflate & eventually sink

What a lovely metaphor!

I think the answer is, it usually bobs about three times and then sinks.

[gizmoh]

America awakes, Asks are filling up, new bids are scarce.
There is clear resistance at 80. Down we go.

[Pompobit]

6k dump! loozak, says us what is happening! 

[ChartBuddy]

[wonkytonky]

some will buy thinking the price will go higher (cup handle pattern) to make a quick profit  since the 4h ema's are about to cross.  but we seen this before. always just when they cross some guy come's in and dump enough to break the rally. (well maybe it's not a manipulator but just people not feeling the uptrend yet .; selling at the best price at that time)



i'm just not buying.. the only reason why price has gone up is because of 3-4 big buys.. not because everybody is in a buying spree

good to be so good at this game

[sarc]

Just a random observation from blockchained :



I can't help but to notice 2 things :
* we just touched and bounced off the dotted line - long-term trendline - which has provided good support since day 1.
* "mining factor" is almost at an all time low, and has been dropping like crazy lately.

Thoughts ?

I've been waiting for someone to say that...



edit: or more helpfully - from the blockchained website that produced the long term trendline:

'The fit curve is an exponential percentual to the chart least squares fit - in other words: I played around until it looked good. '

Though, that's not to say it isn't interesting that it did bounce off the line - the power of belief and all that. Unfortunately, it'll only be a short reprieve...

[WeltMaster]

I would quite like to see a chartbuddy graph over a longer timescale, maybe a day? week?

Anyone know what it uses?

Seeing it the week of april the 8th would be sweet

[SlipperySlope]

I think that if we stay above $ 74, the next bullish wave will be against the 80 wall.

When short-time overbought little drops.

Otherwise, we can probably fall back at  60 - 70 again ....

Good call so far. The price has fallen through $75 to rebound off $73.