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

[haightst]

Just to bring some perspective into current development. This is a 3-month Bitstamp log-scale chart.
The development was pretty linear up until 15-ish of October. After that, save for a small retraction at the end of October, it almost looks to go parabolic.

http://stanislavs.org/wp-content/uploads/2013/11/chart-3month.png

imo->unless something funky happens to the blockchain~should keep pinning /\North...i did my best to bash it around 200zzz   lol

[gambitv]

What surprises me is how the price has got here despite some bad things happening this month in the bitcoin world:

1. inputs.io hacked and closed and 4100 coins stolen.
2. bitfunder.com closing down.
3. https://btct.co/ closed.
4. havelockinvestments now in panama hands.
5. bitmit closing.

Yet we have potential to go to 600-700 Nov - Dec.

So my reading of the charts is a bit like below:

[SheHadMANHands]

Cup and handle, and then a breakout?  Steep climb may be over for a bit..   

[nby]

Looks like were hitting some resistance from Americans waking up and getting shaky fingers.  Usually at this point I would think we were in for some slowdown, but after seeing how we ate through the 10k wall yesterday I wouldn't be surprised if we were at 350 by this afternoon.

350 today is madness, in my opinion it is quite possible that we see 250 first, (as part of the final goodbye to anything 2XX).

It is already thursday, and in March it was generally the highest for the week. Weekend = crash.

Btw. does anyone know of a reliable leveraged platform for trading bitcoins? Bitfinex I know of. How about this?

I posted my impressions in another thread. You might want to look at https://bitcointalk.org/index.php?topic=317353.0

[BitchicksHusband]

kicking myself for not having 3 times the coin and losing faith of the past 6 months. what an idiot, what can you do.

I think my new strategy is if this goes down to 100$ just buy more and hold. I fail at trading and bitstamp is my new home and is unreliable for trading anyway.

So, it sounds like your new strategy is going to be kicking yourself because you didn't buy at $200.

[mccorvic]

Looks like were hitting some resistance from Americans waking up and getting shaky fingers.  Usually at this point I would think we were in for some slowdown, but after seeing how we ate through the 10k wall yesterday I wouldn't be surprised if we were at 350 by this afternoon.

Hmmm. That is positive thinking. So you are saying sub-310 = cheap coins ^^

I ain't sayin' shit. I said I wouldn't be surprised if we got to 350.  Doesn't mean we will or I know what % chance there is of that happening.  If we do to get to 350 all I'm gonna do is :smug:

[DougTanner]

You can't apply technical analysis to a situation like this. We've probably started a full-on Bubble.

[BitchicksHusband]

We'll see double digits again, don't worry.

When do you think this gonna happen?

When we switch to mBTC.

[600watt]

We'll see double digits again, don't worry.

When do you think this gonna happen?

When we switch to mBTC.

+1

[Pale Phoenix]

A correction is on the way, the 4th sub-sub-sub-wave of the second sub-sub-wave of the strongest sub-wave of wave 5.

Drop a lot of acid, do ya? LOL

A pullback after a fast run up like this won't be all that surprising but I no longer think $500 over the next few months is a pipe dream.

[thoughtfan]

We'll see double digits again, don't worry.

When do you think this gonna happen?

When we switch to mBTC.

[Tzupy]

A correction is on the way, the 4th sub-sub-sub-wave of the second sub-sub-wave of the strongest sub-wave of wave 5.
There are now 16.5k coins on the ask side, but most waiting to be sold at higher prices.

We all know how your previous analysis went sub sub sub par!

The correction is already happening in China, but nothing yet on Gox or Bitstamp.

[NewLiberty]

With the bitcoin price increase, we are getting closer to having mining be less than "infinity days" to break even on new purchases.
http://www.vnbitcoin.org/bitcoincalculator.php

[micalith]

A correction is on the way, the 4th sub-sub-sub-wave of the second sub-sub-wave of the strongest sub-wave of wave 5.
There are now 16.5k coins on the ask side, but most waiting to be sold at higher prices.

We all know how your previous analysis went sub sub sub par!

The correction is already happening in China, but nothing yet on Gox or Bitstamp.

waiting to see if it's just finding it's place between bitstamp and gox, or really correcting

[barbs]

kicking myself for not having 3 times the coin and losing faith of the past 6 months. what an idiot, what can you do.

I think my new strategy is if this goes down to 100$ just buy more and hold. I fail at trading and bitstamp is my new home and is unreliable for trading anyway.

So, it sounds like your new strategy is going to be kicking yourself because you didn't buy at $200.

I went all in at 204, the bear in me died when I saw the move was so obviously coming

[Richy_T]

A garage is a fine place to start a business.

You can't stay there forever, though. If you are successful and grow at some point you need to bring in additional expertise and resources to help carry the load and take it to the next level.

A shed?

[haightst]

What surprises me is how the price has got here despite some bad things happening this month in the bitcoin world:

1. inputs.io hacked and closed and 4100 coins stolen.
2. bitfunder.com closing down.
3. https://btct.co/ closed.
4. havelockinvestments now in panama hands.
5. bitmit closing.

Yet we have potential to go to 600-700 Nov - Dec.

So my reading of the charts is a bit like below:

https://i.chzbgr.com/maxW500/2723428864/h177B3D15/

stop making fun of my ears LOL  

[Corelianer]

We'll see double digits again, don't worry.

When do you think this gonna happen?

When we switch to mBTC.

+1

+1

[maz]

kicking myself for not having 3 times the coin and losing faith of the past 6 months. what an idiot, what can you do.

I think my new strategy is if this goes down to 100$ just buy more and hold. I fail at trading and bitstamp is my new home and is unreliable for trading anyway.

So, it sounds like your new strategy is going to be kicking yourself because you didn't buy at $200.

I went all in at 204, the bear in me died when I saw the move was so obviously coming

pah! Have some balls! I sold at 150 and I'm still holding fiat. I'll come back in on the way down

[Taras]

We'll see double digits again, don't worry.

When do you think this gonna happen?

When we switch to mBTC.

+1

+1

+1