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

[jojo69]

Can anybody explain why the difference between gox and stamp prices is now less than half of what it was yesterday?
Stamp $ 416 / Gox $ 432

As arbitrage is not simple or quick, each exchange sets up it's own balance of supply/demand, to an extent.

in the case of gox is active arbitrage even really possible?

[Syke]

in the case of gox is active arbitrage even really possible?

Only if you have a Japanese bank account.

[Adrian-x]

Sentiment seems terrible today.  We are hovering around an all-time high, and a lot of people are acting as if we just had a crash, or that this is definitely the top....

Agreed! Today got me feeling like I wanted out!

I'm with ya on that one.

The last time I acted on that feeling we were around $9
Now I wait and in another 6 months and the feeling will subsidie.

[Vycid]

We're moving again.

Looks pretty darn stable to me.

Check again, there was a volume spike and a $15 drop.

Sentiment seems terrible today.  We are hovering around an all-time high, and a lot of people are acting as if we just had a crash, or that this is definitely the top....

Agreed! Today got me feeling like I wanted out!

I'm with ya on that one.

The last time I acted on that feeling we were around $9
Now I wait and in another 6 months and the feeling will subsidie.

I think you're right about the sentiment. We have a way to go yet before we top out. Despite all the doom-talk about Coin Validation, the price hasn't moved much. Very bullish.

Recent Google Trends, for those curious: http://www.google.com/trends/explore#q=bitcoin&date=today%207-d&cmpt=date

Much of the talk here is noise, no offense to anyone (and I spend hours here lurking, reading, and now, finally, joining the fray, so I don't dismiss the conversation), but truth be told, Google trends ('bitcoin") is the Magic 8 Ball.

This thread is all in good fun, as far as I'm concerned. I don't think anyone gets much better than 50% accuracy on technicals.

[ChartBuddy]

[CMMPro]

Of course China doesn't use google....does Baidu have stats like google does?
That may tell us more right now.


Edit:
Even if we see an L5 (76.4%) retrace, right now it will just touch $300 according to my calcs.
(It would be more healthy and reasonable to see an L3 (50%) down to $343.)

[dwdoc]

Varney & Co 8:20am EST on Fox Business will discuss Bitcoin tomorrow 11/15/13.
Get ready for the bounce!

[CryptStorm]

Of course China doesn't use google....does Baidu have stats like google does?
That may tell us more right now.


Edit:
Even if we see an L5 (76.4%) retrace, right now it will just touch $300 according to my calcs.
(It would be more healthy and reasonable to see an L3 (50%) down to $343.)

Yes, there is a Baidu trends (http://index.baidu.com/main/word.php?word=bitcoin).

Would you mind explaining how a 76.4% retrace gets you to $300? Er, whats an L5 retrace, please?

(I, personally, love the 'noise' on this forum btw-- to me, this *is* the place)

 

[Spaceman_Spiff]

To me, this thread is the equivalent of a bar.  Except the bar is filled with people who love to talk about bitcoin  .

[dwdoc]

To me, this thread is the equivalent of a bar.  Except the bar is filled with people who love to talk about bitcoin  .

Come here often?

[ButchHashidy]

It's important to reconcile the scopes of perception here, considering that most of these scopes cannot see the other:

a) We are literally sitting staring at the screen, waiting, chatting while we *decide* if the charts are about to consolidate, go bullish, go bearish, hit the moon, etc. This *is*, we *are* the pulse of the btc speculation ecosphere. We are standing in the boiler room watching the machine pump heat--  because we can see it's working just fine, sometimes it's hard to believe that it's too warm or cold upstairs. Classic myopia.

b) We have no idea, for the most part, what the Chinese are doing, in terms of sentiment, other that heavily buying in steadily. They are likely speculators and folks just like us, who see the newest, shiniest thing, or realize the coming value of a mature crypto account register.

c) Many of us have friends who are newly interested in Bitcoin, they are approaching us, actually listening to the conversation about cryptos. These people were afraid we'd pass out tinfoil hats at last Thanksgiving (some of us have done so forever, such is the nature of visionary (ahem, nuts)).

d) The upcoming Senate hearing (on the 18th), VC's throwing money to startups that we haven't even really begun to see the product of (Kraken, Coinsetter...), Forbes articles and in general continually more positive news spin and coverage. The proletariate will be what they have always been, the peeps.

e) The googly trends chart... oh, what correlation it carries is astounding. If there ever was a cogent point for 'don't read into it too much' it's this chart (albeit it's a trailing one, sadly :-/).

f) Bitcoin is hugely successful in any context. We know that, but it will be all the more obvious in 20 years. Yeah, duh, the internet and money had a bastard child. Why wouldn't it rock the casbah. So, stepping away from the cliff, we should take some pride in being involved, and be humbled to see a change for the good, away from manipulable capital that seeks nothing but further vampiric reduction of liberty, while enforcing a crippling cancerous consumption mantra. What was great for industrialization is now going the way of the dodo--> P2P kills centralization.

g) Asset, commodity, currency, protocol or whatever, it will adhere to price discovery if easily exchanged. Playas gonna play, haterz gonna hatez.

Conclusion: rpitella's (sp?) chart is really pretty good, so far, until it's not. We're going up too fast (for the last hot 10 seconds), so if trading's what you like, there will be a chance to increase your BTC count. Long term, to the moon. Peace out folks, and don't forget to set your bitcoinreminders (.com).

this should be the new and/or improved bitcoin trading manifesto

[Spaceman_Spiff]

To me, this thread is the equivalent of a bar.  Except the bar is filled with people who love to talk about bitcoin  .

Come here often?

Yes, why?

[CMMPro]

Of course China doesn't use google....does Baidu have stats like google does?
That may tell us more right now.


Edit:
Even if we see an L5 (76.4%) retrace, right now it will just touch $300 according to my calcs.
(It would be more healthy and reasonable to see an L3 (50%) down to $343.)

Yes, there is a Baidu trends (http://index.baidu.com/main/word.php?word=bitcoin).

Would you mind explaining how a 76.4% retrace gets you to $300? Er, whats an L5 retrace, please?

(I, personally, love the 'noise' on this forum btw-- to me, this *is* the place)

 

High   421.97   
      
Low   265.01   
      
      
L1   0.00%   422.0
      
L2   38.20%   362.0
      
L3   50.00%   343.5
      
L4   61.80%   325.0
      
L5   76.40%   302.1
      
L6   100.00%   265.0


These are standard fibonacci retracement percentages (based on the current rally on Bitstamp).
Normally we see the retrace touch the 76.4% level briefly, it is safer to place your buys at the 50% and a few at the 61.8% levels.

As someone mentioned, it's a little like fishing...lot's of patience...you set your lines and go to sleep....wake in the morning to see what you caught.

[CryptStorm]

Of course China doesn't use google....does Baidu have stats like google does?
That may tell us more right now.


Edit:
Even if we see an L5 (76.4%) retrace, right now it will just touch $300 according to my calcs.
(It would be more healthy and reasonable to see an L3 (50%) down to $343.)

Yes, there is a Baidu trends (http://index.baidu.com/main/word.php?word=bitcoin).

Would you mind explaining how a 76.4% retrace gets you to $300? Er, whats an L5 retrace, please?

(I, personally, love the 'noise' on this forum btw-- to me, this *is* the place)

 

High   421.97   
      
Low   265.01   
      
      
L1   0.00%   422.0
      
L2   38.20%   362.0
      
L3   50.00%   343.5
      
L4   61.80%   325.0
      
L5   76.40%   302.1
      
L6   100.00%   265.0


These are standard fibonacci retracement percentages (based on the current rally on Bitstamp).
Normally we see the retrace touch the 76.4% level briefly, it is safer to place your buys at the 50% and a few at the 61.8% levels.

As someone mentioned, it's a little like fishing...lot's of patience...you set your lines and go to sleep....wake in the morning to see what you caught.

This (^^^^^) is really great, thank you for taking a minute to spell it out.

BTW, I'm just back from strolling over to the douchey 'unleash your inner bear' page, and, man, what a complete clusterfuck conflation of ignorance and downers (if you must indulge in sadochism: https://bitcointalk.org/index.php?topic=330588.0). Whew, calgon, take me away.

[Walsoraj]

Search engine trends don't tell us anything other than the frequency of bots spamming searches to generate interest.

[CryptStorm]

Search engine trends don't tell us anything other than the frequency of bots spamming searches to generate interest.

Unless you consider strong price correlation nothing.

[Walsoraj]

Search engine trends don't tell us anything other than the frequency of bots spamming searches to generate interest.

Unless you consider strong price correlation nothing.

Both symptoms of pure manipulation.

[CryptStorm]

Search engine trends don't tell us anything other than the frequency of bots spamming searches to generate interest.

Unless you consider strong price correlation nothing.

I see you are new.

See that bright red Ignore on his account? He is a troll. We all ignored him and we don't want to see what he says.

When you quote what he says we all have to see it.


Sadly if you do this more than a few times we will start ignoring you as well so we don't have to see silly troll rants.


so please don't quote him or expect to be ignored by a good chunk of us.

thanks

Hey, Goat, thanks for the welcome words.

Right, I totally forgot that my quoting him makes it uncomfortable and kinda lame for everyone. I ignored maz already, as I just felt my IQ drop everytime... anyway, you get the idea.

And, more on point, *I* get the idea.

tl;dr Red is dead, glow is no go.  

Thank you, sir.

[ChartBuddy]

[Walsoraj]

He is a troll.

... who just so happens to be right all the time.