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

[hyphymikey]

[dwdoc]

Hmm, we're getting some fuel in the rocket. I'm kinda surprised. Could get interesting really fast.

seems poised to decided up or down.. think 875 will be the breaking point..someone post a chart with resistance levels

[justusranvier]

Even though a 100 BTC buy at $850 is like a 1k BTC buy at $85, it's just not the same as when you used to see 10K ask walls bought out in a single gulp.

[Davyd05]

Oh dear.. so close to the 875 point and .. lol

[Vigil]

And there will be another sell-off.

[mccorvic]

And there will be another sell-off.

I wish I had your great ability to predict the market.


Anywho, Bid sum ratcheting up to bust down the $870s walls.  Will they pull the trigger? Dun dun dununununnnn....

[bassclef]

And there will be another sell-off.

Quoted for posterity in case anyone missed his last 100 posts repeating the exact same thing.

We get the idea, you want cheap coins, thanks for playing.

[bclcjunkie]

seems like more speculative fiat to move into bitcoin soon...

http://www.coindesk.com/exantes-bitcoin-fund/

"Silbert also confirmed that he’s working with Pensco Trust Co, Entrust Group Inc and Equity Trust Co to offer investors the ability to purchase bitcoin for individual retirement accounts. In a little under two months, SecondMarket’s Bitcoin Investment Trust has already attracted $15m under management."

[Vigil]

Schiff keeps ranting on having a digital currency backed by gold... what is the difference between that and selling your Bitcoins for Gold so long as they are both able to function as currency with a market price? That can already be done with Bitcoin as its supply is already limited.

[Davyd05]

these small uptrends that don't lift off scare me...but I think that's because bitcoin has been steady raising since I bought in...I feel as if a dump from a whale is waiting in the depths...at the same time.. I could see the switch to a slower uptrend with some volatility.

Restarting my computer and taking a bio break...this would be the time its shits the bed or goes to the moon.

[bnjmnkent]

Noobie-call+crystal sphere:

Within the next 4-8 hours we reach around 880 on gox.
After that we form a straight handle over 24-30 hours 830 being lowest.
Then we see a 12 hour steady increase, before we shoot for 1500.
There will be little resistance at 1000, but some at 1200.
After having reached 1500 we fall back and bounce off 1166 USD, which
could be a dead cat. temporary resistance on its way down.

(What did I just write)

[BitChick]

these small uptrends that don't lift off scare me...but I think that's because bitcoin has been steady raising since I bought in...I feel as if a dump from a whale is waiting in the depths...at the same time.. I could see the switch to a slower uptrend with some volatility.

Restarting my computer and taking a bio break...this would be the time its shits the bed or goes to the moon.

Haven't the whales already been dumping?  I think they are not getting the same results that they used to get though so perhaps they will slow down a bit.  Also, as time goes on they will sell coin and the whales will be holding less to dump I would think.

[Richy_T]

It's a plot by the Chinese to deny the guardians of the USA's IT infrastructure any sleep.

[TERA]

Even though a 100 BTC buy at $850 is like a 1k BTC buy at $85, it's just not the same as when you used to see 10K ask walls bought out in a single gulp.

There are 5 major exchanges now. When you see a 1K buy you need to imagine it is a 5K buy.

That 14k of buying earlier on gox was like 70k of buying - market changing. We are going to the moon.

[CryptStorm]

OT, but litecoin broke through... meh-- good news or just jumping the gun?

[byronbb]

The Irrational Exuberance Index is at an ATH.

[ShroomsKit]

Big money wants in, don't be fooled by the big fish who patiently waits for cheaper coins.

This is no 2011, the stakes are much higher this time.

lots of coins were bought... but it means nothing still...there have been small lift offs since Friday into Monday no after burn though.

I will agree there was a lot of volume, in that quick window.. but if its new money.. and this doesn't cause lift off.. imagine those weak hands.. with 850 coins

After reading that catastrophic 750k inheritance disaster story on reddit,..where not only did he get raped on the initial asset sale.. he then goes and buys at 850.. sells at 500 or something.. either way lost about 75k in a trade.

These kind of people see bitcoin and go herp derp I'll triple my money.. and then they try to day trade like there financial super stars.

I think what we need to see is sub 700 to break the cheap coins at 750-850 range, after that it could be either enough fuel to cause an after burn or what I'd like to see a test of the support levels. sub 700

While you've got a point all i can say this is Bitcoin and it doesn't give a fuck.
There were people here who said it was impossible that we'd see triple digits this year or that we'd need to hit 50 before we can go up. He had the same logic as you have. I think he's still waiting.

See what i'm saying? Everybody here has a reason why Bitcoin can or can't go up. But Bitcoin doesn't care.

[jojo69]

slow and steady we will escape earths gravity!

http://www.homestarrunner.com/sbemail138.html

perfect, don't know if you noticed I brought Trogdor in here a few days ago...lol

[justusranvier]

There are 5 major exchanges now. When you see a 1K buy you need to imagine it is a 5K buy.

That 14k of buying earlier on gox was like 70k of buying - market changing. We are going to the moon.

I understand the math - I'm just saying it's not nearly as subjectively satisfying.

[Davyd05]

these small uptrends that don't lift off scare me...but I think that's because bitcoin has been steady raising since I bought in...I feel as if a dump from a whale is waiting in the depths...at the same time.. I could see the switch to a slower uptrend with some volatility.

Restarting my computer and taking a bio break...this would be the time its shits the bed or goes to the moon.

Haven't the whales already been dumping?  I think they are not getting the same results that they used to get though so perhaps they will slow down a bit.  Also, as time goes on they will sell coin and the whales will be holding less to dump I would think.

I've seen higher buy order groupings then I have seen sell orders.. I personally believe it was a group profit taking.. everytime we run up to 875-900.

I agree with many that Bitcoin does what it wants..but what it wants is in reality what the majority (lets say a btc is a vote in the sense of control) of the market wants...these larger buys aren't effecting price the way they were a week or two ago imo. Its not standing pat...I think of it as a feeling out period still imo...as I believe the past plays apart in what unfurls but this is a very different present and who knows what future bitcoin holds for us.