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

[Wekkel]

Nobody wants to miss the ride. Therefore, not enough selling pressure.

[ShroomsKit]

Why do people suddenly start selling after the price has reached 120? Doesn't make much sense to me?

because 8h rise from 111 to almost 121 will definitely have some kind of a correction soon?

Yeah sure but people who keep that in mind would sell before 120? Or part of the ask wall at 120. No?

[adamstgBit]

Why do people suddenly start selling after the price has reached 120? Doesn't make much sense to me?

because 8h rise from 111 to almost 121 will definitely have some kind of a correction soon?

Yeah sure but people who keep that in mind would sell before 120? Or part of the ask wall at 120. No?

people buy and sell all day at wtv price rang happens to be in

1000$ tomorrow?

we need to come up with some news

[vokain]

I heard joe Lewis was investing in bitcoin
PayPal too (decently plausible??)

[justusranvier]

[Wagner2014]

$180 within 12 hrs. it is certain.

fuck you bears.

*edit*

bam, just hit $120. we on unstoppable tear

a break of $115 (if sustained) is truly bullish (wether driven by gox crap situation or not doesn't matter)

actually it does, it matters a lot...

No, still bullish regardless

How is a bank run bullish?

[ChartBuddy]

[wachtwoord]

$180 within 12 hrs. it is certain.

fuck you bears.

*edit*

bam, just hit $120. we on unstoppable tear

a break of $115 (if sustained) is truly bullish (wether driven by gox crap situation or not doesn't matter)

actually it does, it matters a lot...

No, still bullish regardless

How is a bank run bullish?

Not bullish for the bank ....

[niothor]

I heard joe Lewis was investing in bitcoin
PayPal too (decently plausible??)

you're joking , right?

still , gox is funny
a 55k dump will only bring the price to 100 (btc,bitstamp)
a 55k buy , ... over 1100 =)))))

[vokain]

$180 within 12 hrs. it is certain.

fuck you bears.

*edit*

bam, just hit $120. we on unstoppable tear

a break of $115 (if sustained) is truly bullish (wether driven by gox crap situation or not doesn't matter)

actually it does, it matters a lot...

No, still bullish regardless

How is a bank run bullish?

Not bullish for the bank ....

BTC run on Gox =/= a run on BTC for USD
It's bullish because mtgox is a market leader and prices do tend to follow gox's direction
Gox passing $115 is bullish because it confirms a wave 3 after the five waves down to $65.
Plus it is guideline for a head n shoulders breakout I think
and $122 now

[ShroomsKit]

I heard joe Lewis was investing in bitcoin
PayPal too (decently plausible??)

you're joking , right?

still , gox is funny
a 55k dump will only bring the price to 100 (btc,bitstamp)
a 55k buy , ... over 1100 =)))))

I think that can be done today

[rpietila]

a break of $115 (if sustained) is truly bullish (wether driven by gox crap situation or not doesn't matter)

If price rises in Gox, all or part of it can be attributed to Gox crap situation (and dismissed as evidence).

However, if price rises in other exchanges, that can only be because of bitcoin demand exceeding supply. You cannot twist it anywhere.

I would therefore closely follow the pricing in Bitstamp and others, and that has been on a rise lately. It is tempting to think that the going price is $120 (Gox), but I would more likely put it at $103. If I were to buy, I would not try to send money at Gox to buy at 20% premium, I would use Bitstamp.

[aepfel]

a break of $115 (if sustained) is truly bullish (wether driven by gox crap situation or not doesn't matter)

If price rises in Gox, all or part of it can be attributed to Gox crap situation (and dismissed as evidence).

However, if price rises in other exchanges, that can only be because of bitcoin demand exceeding supply. You cannot twist it anywhere.

I would therefore closely follow the pricing in Bitstamp and others, and that has been on a rise lately. It is tempting to think that the going price is $120 (Gox), but I would more likely put it at $103. If I were to buy, I would not try to send money at Gox to buy at 20% premium, I would use Bitstamp.

i agree. and then we maybe see the real current volumeallocation.

[MickeyT2008]

MtGox seems to be down, or at least it is from my computer anyway, yet there still seem to be a few trades happening

503 Service Temporarily Unavailable

EDIT:  It's working again

[SGExodus]

However, if price rises in other exchanges, that can only be because of bitcoin demand exceeding supply. You cannot twist it anywhere.

I would therefore closely follow the pricing in Bitstamp and others, and that has been on a rise lately. It is tempting to think that the going price is $120 (Gox), but I would more likely put it at $103. If I were to buy, I would not try to send money at Gox to buy at 20% premium, I would use Bitstamp.

Bitstamp has 5k less coins in their Ask compared to 1-2 weeks ago.   Most likely, they have all been move to Gox to sell.

[ChartBuddy]

[rpietila]

However, if price rises in other exchanges, that can only be because of bitcoin demand exceeding supply. You cannot twist it anywhere.

I would therefore closely follow the pricing in Bitstamp and others, and that has been on a rise lately. It is tempting to think that the going price is $120 (Gox), but I would more likely put it at $103. If I were to buy, I would not try to send money at Gox to buy at 20% premium, I would use Bitstamp.

Bitstamp has 5k less coins in their Ask compared to 1-2 weeks ago.   Most likely, they have all been move to Gox to sell.

I believe the buying pressure in Bitstamp has just consumed the coins.

Gox situation is special. I don't believe that their bid side comes from true demand, because it is so much easier to use other exchanges for buying, and their price is also much lower. To me it seems that most of Gox bids are money trying to escape Gox in the form of bitcoins.

This money is orginally as Gox-USD, and most of the owners want it converted back to USD after escaping from Gox. It does not change the total bitcoin supply-demand, because it is both originally and eventually USD. Bitcoin is therefore used only as a value transmit mechanism for Gox-USD.

[samson]

So it's a run on Gox then ...

I wouldn't be so sure about that.

The very jittery all 'did a runner' from MtGox when the Dwolla incident happened.

[Traktion]

However, if price rises in other exchanges, that can only be because of bitcoin demand exceeding supply. You cannot twist it anywhere.

I would therefore closely follow the pricing in Bitstamp and others, and that has been on a rise lately. It is tempting to think that the going price is $120 (Gox), but I would more likely put it at $103. If I were to buy, I would not try to send money at Gox to buy at 20% premium, I would use Bitstamp.

Bitstamp has 5k less coins in their Ask compared to 1-2 weeks ago.   Most likely, they have all been move to Gox to sell.

I believe the buying pressure in Bitstamp has just consumed the coins.

Gox situation is special. I don't believe that their bid side comes from true demand, because it is so much easier to use other exchanges for buying, and their price is also much lower. To me it seems that most of Gox bids are money trying to escape Gox in the form of bitcoins.

This money is orginally as Gox-USD, and most of the owners want it converted back to USD after escaping from Gox. It does not change the total bitcoin supply-demand, because it is both originally and eventually USD. Bitcoin is therefore used only as a value transmit mechanism for Gox-USD.

So it's a run on Gox then ...

A 20%+ risk premium over the other main USD exchanges would certainly point in that direction.

[ChartBuddy]