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

[jl2012]

I can't decide where this is going, too little volume.

I shorted around 180 during the downtrend after the huge sell...Then at 180, it perked right back up. I figured it was a short bounce before a continuation downwards, and continued opening short positions up to 190.

Now, I'm not sure if I should close the positions and take a huge loss...or wait it out, and possibly lose all the BTC in my leveraged short positions...

Opinions?

180 in gox? The 300 hours average line is at 181 now and it provides support in all big-4 exchanges. So I don't think we will see 180 in gox again in short term

[dwdoc]

I can't decide where this is going, too little volume.

I shorted around 180 during the downtrend after the huge sell...Then at 180, it perked right back up. I figured it was a short bounce before a continuation downwards, and continued opening short positions up to 190.

Now, I'm not sure if I should close the positions and take a huge loss...or wait it out, and possibly lose all the BTC in my leveraged short positions...

Opinions?

There will be a correction before the next big move higher. I would wait.

[SheHadMANHands]

advice: do the opposite to me as I always sell low and buy high..  currently waiting to buy back in so it will probably rally to a new high, I'll panic buy and then it will crash.

That's not particularly good news for my leveraged short positions. Let's hope you're actually correct this time?

I did get a good laugh out of that though, so thanks for that atleast.

Sentiment is higher.  However, given that Asia led this rally initially, I am not sure higher will be determined by English speaking sentiment. In my opinion, although non-Asian markets seem to lead on resistance, I still think Asia could lead where this goes next.

I think there are 3 possible ways this could go:
A. Higher based on average sentiment.
B. Lower to retest the lows of the initial pullback and possibly a little lower.
C. A longer correction below that 150, that could take us down to 130, 120, 100 or lower. But that would be a long term thing, and not a short term trade, imo.

Highly, highly doubt (C) based on all the bullish news these past few months, including:

- Chinese volume/movement, including Baidu news
- SecondMarket, expose of Bitcoin to $$$$
- Closure of SR, media attention surrounding that
- Michael Novogratz endorsement: "Come back in a few years and it's going to be worth a lot."
- Bitcoin ATM in Canada (world's first)

This just isn't the same climate, with the same risks, as 6 months ago.  $100 is long gone, pending very, very bad and improbable news.

[ChartBuddy]

[SheHadMANHands]

Just saw end of World Series game 3 (I'm a Cards fan)...   Holy shit, what a final play (bottom of the 9th)!  Anyone catch it?

http://stlouis.cardinals.mlb.com/video/play.jsp?c_id=stl&content_id=31185453&topic_id=28898650

[ChartBuddy]

[ChartBuddy]

[theonewhowaskazu]

Just saw end of World Series game 3 (I'm a Cards fan)...   Holy shit, what a final play (bottom of the 9th)!  Anyone catch it?

http://stlouis.cardinals.mlb.com/video/play.jsp?c_id=stl&content_id=31185453&topic_id=28898650

Lol, what the heck.

At the end of the first camera shot you can see Craig pick himself up like "the fuck just happened".

[Zangelbert Bingledack]

This few days of consolidation couldn't be more normal. Even if I had a crystal ball and knew for sure the price would go past the all-time high within the next two weeks, I still would expect a consolidation during these few days. Simply continuing up at the rate we were going would've been insane. So there's so far zero evidence the bull move of the past few weeks is over. Consolidation is exactly what we'd expect if the run-up is to continue. My guess is we're going up, probably within a week.

[ChartBuddy]

[rpietila]

This just isn't the same climate, with the same risks, as 6 months ago.  $100 is long gone, pending very, very bad and improbable news.

IF somebody is afraid of $100 and wants to hedge against, I am willing to write the puts. Procedure:

- You select parameters (length, strike)
- I quote the price
- You pay the BTC
- If before maturity you want to sell bitcoins to me at Strike (say, $100), I am obligated to buy them and pay $$
- If it expires, I get to keep the premium you paid.

[molecular]

wtf are you people wait for? Xmas!?, fuck this I'm emptying my bank account tonight.

I almost did this back in 2011 when I was drunk. Why, oh why, didn't I.

[molecular]

do i need to paint and arrow for you???

bitstamp:

[TERA]

do i need to paint and arrow for you???

Arrow? Sure.

[ardana123]

Can someone post that picture of Morpheus saying something like "when it's time to sell our bitcoins...we won't have to"?

[TheKoziTwo]

Can someone post that picture of Morpheus saying something like "when it's time to sell our bitcoins...we won't have to"?

[btcpedia]

Can someone post that picture of Morpheus saying something like "when it's time to sell our bitcoins...we won't have to"?

or you can create yourself >> http://memegenerator.net/Matrix-Morpheus

[Tzupy]

This few days of consolidation couldn't be more normal. Even if I had a crystal ball and knew for sure the price would go past the all-time high within the next two weeks, I still would expect a consolidation during these few days. Simply continuing up at the rate we were going would've been insane. So there's so far zero evidence the bull move of the past few weeks is over. Consolidation is exactly what we'd expect if the run-up is to continue. My guess is we're going up, probably within a week.

No, there are no more sub-sub-waves available for 'consolidation'. The conditions for a large drop will be met in about an hour (maybe more, maybe less, it depends on volume).

[w00dy]

No, there are no more sub-sub-waves available for 'consolidation'. The conditions for a large drop will be met in about an hour (maybe more, maybe less, it depends on volume).

care to explain? 

[DougTanner]

Boooooooooooooooooring.