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

[SheHadMANHands]

Wow, so strong at the 1k level..

[justusranvier]

[CryptStorm]

What's the sentiment?

Wall St bullish:

http://www.theguardian.com/technology/2013/dec/05/bitcoin-digital-currency-wall-street-strategist

And, with stunningly ignorant comments. No surprise, but, still...

[dwdoc]

Willis Report on fox business channel about to talk about bitcoin.

Is there an online resource to watch?

It was short and stupid. Bald analyst called it a tulip bubble.  

[Nightowlace]

My 5 year old son says "Daddy, how many bitcoins do you have?" I answered. He said "Daddy that's not enough, you should buy some more Bitcoins"

I have one very smart 5 year old 

[OldGeek]

Now what?  A delayed reaction?

[ChartBuddy]

[BitChick]

My 5 year old son says "Daddy, how many bitcoins do you have?" I answered. He said "Daddy that's not enough, you should buy some more Bitcoins"

I have one very smart 5 year old 

So how many bitcoins does a 5 year old think is "enough?" 

[OldGeek]

Red candles everywhere.  Stamp down 50 points and looks like going lower.

[Vigil]

If you want to know what is happening just look at the chart on Dec. 2 - we are going through a replay of that algorithm pattern after the big sell-off. I am guessing it will hit close to $1010 over the next three hours. Maybe lower.

[UnDerDoG81]

Somebody dumped 270 Coins @ stamp and somebody else bought 280 cheap back 

[cfrm]

Somebody dumped 270 Coins @ stamp and somebody else bought 280 cheap back 

A swing and a miss 

[OldGeek]

Thanks Vigil.  I see the Dec 2 pattern.  You mentioned the algo somewhere above, but not sure how you got there.

1010 seems to have a small wall, so we'll see.  I was looking at cny when the sellers started, then changed to stamp.  Confusing my pea brain.

[OldGeek]

Is the algo trader working all four of the big exchanges or are the markets mature enough that a bounce in one triggers the others?

[Walsoraj]

A smart algo trader isn't going to replicate exact same pattern so close in time. My guess is a second dip after a Dec 2 looking recovery.

[keewee]

http://www.zerohedge.com/news/2013-12-05/california-tesla-has-now-been-bought-bitcoin

[OldGeek]

A smart algo trader isn't going to replicate exact same pattern so close in time. My guess is a second dip after a Dec 2 looking recovery.

If I follow what you mean... not an algo trader.  Just an opportunity that was taken.

Correct?

[MikeH]

Guys, I panicked and sold 5% of my bitcoins at least 1000... am I a bad person? Should I buy back?

yes you're a bad person, send me 1000 btc to become a good person again.

with that many coins if you haven't sold enough to retire, you are mental.

[Vigil]

Thanks Vigil.  I see the Dec 2 pattern.  You mentioned the algo somewhere above, but not sure how you got there.

1010 seems to have a small wall, so we'll see.  I was looking at cny when the sellers started, then changed to stamp.  Confusing my pea brain.

No problem. My bid hit exactly at the 1020 I set 4 hrs ago based on the Dec. 2 plots to play it safe. It may still go lower but didn't want to take the risk. The first algo I noticed started either right at the $450 drop or a couple days after where it plateaued at $900 or so.

Whoever is running the algo switched up about a week back to this new one. It carries the price high to $1200 or so and then plummets the price down to the $850 mark. There is a small rebound with a small double reversal and another small sell-off. It will now start upward toward $1200. Unless it is turned off of course.

That means that the China news only played into the algo creating a much sharper decline than on the 2nd.

[Vigil]

Is the algo trader working all four of the big exchanges or are the markets mature enough that a bounce in one triggers the others?

I don't know. I just know "he" is on Gox. I guess he or they could be running on all the major exchanges. But even controlling one at these low volume periods is enough to manipulate the price.

A smart algo trader isn't going to replicate exact same pattern so close in time. My guess is a second dip after a Dec 2 looking recovery.

He ran it for about a week to a week and a half before but it wasn't as noticeable. Nor were its movements as large as this current one. I expect him to change it up in the next couple days.

We still have another couple hours at these low prices so buy up while you can.