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

[MahaRamana]

Looks like we've hit a solid floor at $700 right? So tempted to buy up a few more :/

700 is still far from solid. If it holds another 24h then yes, it will become solid.
Problem is, if 700 holds for another 24h, we might be at 900 then.
But the potential downside is more pronounced short term than the upside so it is risky to buy now.
Short term we could go from 750 to 900 on the upside but we could also go from 750 to 450 or less.

For this reason this 750 is more like a sell right now. If the outlook is long term then buying now is fine.

[windjc]

Looks like we've hit a solid floor at $700 right? So tempted to buy up a few more :/

do not trust the book it's easily manipulated, but it's ofc a possibility that this isn't a bull trap

Again and again and again and again people who were here during 2011 and/or April 2013 assume this rally will behave like the last ones.

And most of the time they are right. However, this rally has been unique in several ways. "Common sense" and TA suggest we have at least 1 more leg down to go or at least to test the lows of this correction/crash/whatever.

But there is a little something that feels like that is just perhaps a little too predictable.

We'll see.

[ScrapOfCat]

i think this second bull trap is near complete.

See, the weird part is, I'm a bull and I neither bought nor sold bitcoins recently.  How did I get trapped exactly?

Seriously? You know what bull trap means, there's no reason to get offended... you guys have to pick a fight about everything

I was just being flippant, as is my wont, but now I'm curious.  What do you mean?

[gandhibt]

i think this second bull trap is near complete.

See, the weird part is, I'm a bull and I neither bought nor sold bitcoins recently.  How did I get trapped exactly?

Seriously? You know what bull trap means, there's no reason to get offended... you guys have to pick a fight about everything

I was just being flippant, as is my wont, but now I'm curious.  What do you mean?

I just mean that generally in this thread people pick a fight easily about some completely nonsense, my remark was not focused solely on you two.

[ScrapOfCat]

oic, I'm not trying to pick a fight.  Just looking for something to talk about while I obsess about bitcoins. 

I love you guys....

[DaRude]

Okay.  I'm officially sick of Gox.  This last few days have been awful.  I'm thinking of moving to BTC-e.  Anything in particular I should watch out for?

Just the Russians closing their doors and leaving with your BTC a la Sheep Marketplace style. Or someone closing their bank account etc... with the same results, without any known person or company to follow. People bitch about Gox (and for good cause) but there's a reason that it's the only place where all of the big whales play at and every other exchange follows. Even after stopping all USD withdrawals, and a month SEPA withdrawals they're still like #1 (or so) exchange, think about it

[tHash]

The question is how long this time to twice the previous ATH?

2011 took two years.
Spring 2013 took 6 months.

If the pattern continues, 5-6 weeks this time around.

Well, the spring crash took 7 days to overshoot 2x previous ATH, and then an additional 10 weeks to retest at about the 2x previous ATH.  So less than 3 months, not 6.   I think 5-6 weeks is too long this time, it will be quicker IMHO, barring news one way or the other . . .

Each bubble smaller, each crash less severe, and each recovery shorter.   So far so good . . .   (Famous last words)  

[bits4books]

I just sold off a decent amount that I bought @ $721 for $770 on btc-e.

Looks like a pump and dump is coming given the trends over the last few hours.

I expect a rise over the next week for sure, but I don't think it's going to begin right now.

[beaconpcguru]

Look at them scared bears forming them ask walls.. your fear induction has no effect on those who know better.  

[gandhibt]

Okay.  I'm officially sick of Gox.  This last few days have been awful.  I'm thinking of moving to BTC-e.  Anything in particular I should watch out for?

Just the Russians closing their doors and leaving with your BTC a la Sheep Marketplace style. Or someone closing their bank account etc... with the same results, without any known person or company to follow. People bitch about Gox (and for good cause) but there's a reason that it's the only place where all of the big whales play at and every other exchange follows. Even after stopping all USD withdrawals, and a month SEPA withdrawals they're still like #1 (or so) exchange, think about it

bitstamp, low fees, trust, less lag etc. all there and you don't have to deal with marks goxxing

[Habeler876]

Okay.  I'm officially sick of Gox.  This last few days have been awful.  I'm thinking of moving to BTC-e.  Anything in particular I should watch out for?

Just the Russians closing their doors and leaving with your BTC a la Sheep Marketplace style. Or someone closing their bank account etc... with the same results, without any known person or company to follow. People bitch about Gox (and for good cause) but there's a reason that it's the only place where all of the big whales play at and every other exchange follows. Even after stopping all USD withdrawals, and a month SEPA withdrawals they're still like #1 (or so) exchange, think about it

bitstamp, low fees, trust, less lag etc. all there and you don't have to deal with marks goxxing

btc-e has lower fees and superior trade engine. there is some give and take.

[OldGeek]

Just the Russians closing their doors and leaving with your BTC a la Sheep Marketplace style. Or someone closing their bank account etc... with the same results, without any known person or company to follow. People bitch about Gox (and for good cause) but there's a reason that it's the only place where all of the big whales play at and every other exchange follows. Even after stopping all USD withdrawals, and a month SEPA withdrawals they're still like #1 (or so) exchange, think about it

Thanks.  So nothing in particular.  Just the same worries as the others.  

[OldGeek]

btc-e has lower fees and superior trade engine. there is some give and take.

Would that be the Meta Trader 4 that is superior?

[gandhibt]

Okay.  I'm officially sick of Gox.  This last few days have been awful.  I'm thinking of moving to BTC-e.  Anything in particular I should watch out for?

Just the Russians closing their doors and leaving with your BTC a la Sheep Marketplace style. Or someone closing their bank account etc... with the same results, without any known person or company to follow. People bitch about Gox (and for good cause) but there's a reason that it's the only place where all of the big whales play at and every other exchange follows. Even after stopping all USD withdrawals, and a month SEPA withdrawals they're still like #1 (or so) exchange, think about it

bitstamp, low fees, trust, less lag etc. all there and you don't have to deal with marks goxxing

btc-e has lower fees and superior trade engine. there is some give and take.

you don't have to trade much to get 0.2% fee on stamp and i would not send major portion of my btcs to btce, but yes you're right maybe there are some give and takes

[hmmmstrange]

Okay.  I'm officially sick of Gox.  This last few days have been awful.  I'm thinking of moving to BTC-e.  Anything in particular I should watch out for?

Just the Russians closing their doors and leaving with your BTC a la Sheep Marketplace style. Or someone closing their bank account etc... with the same results, without any known person or company to follow. People bitch about Gox (and for good cause) but there's a reason that it's the only place where all of the big whales play at and every other exchange follows. Even after stopping all USD withdrawals, and a month SEPA withdrawals they're still like #1 (or so) exchange, think about it

Seriously, scary "Russians" and just like "Sheep Marketplace"?

P.S. BOOOOOO!!!

[beaconpcguru]

Looks like we've hit a solid floor at $700 right? So tempted to buy up a few more :/

700 is still far from solid. If it holds another 24h then yes, it will become solid.
Problem is, if 700 holds for another 24h, we might be at 900 then.
But the potential downside is more pronounced short term than the upside so it is risky to buy now.
Short term we could go from 750 to 900 on the upside but we could also go from 750 to 450 or less.

For this reason this 750 is more like a sell right now. If the outlook is long term then buying now is fine.

Its more likely we will travel down the Bid side > 30000 BTC than going up to 900 that only takes another 7,000 (counting the fake ask walls ~4,000 without)  Fun to watch either way, though your arguement makes me want to deposit all my bitcoins and sell them before they are worthless, I think I shall be sufficient just to buy more next week when the funds arrive.  Slow usd/BTC usd needs to hurry up

[petemoss]

Okay.  I'm officially sick of Gox.  This last few days have been awful.  I'm thinking of moving to BTC-e.  Anything in particular I should watch out for?

Are you depositing USD? BTC-e is not accepting USD wire transfers. This was added recently:

We don't accept international wire transfers from US Citizens or from US Banks
All transfers from US Citizens or US Bank will be refused by bank

[micalith]

Okay.  I'm officially sick of Gox.  This last few days have been awful.  I'm thinking of moving to BTC-e.  Anything in particular I should watch out for?

Just the Russians closing their doors and leaving with your BTC a la Sheep Marketplace style. Or someone closing their bank account etc... with the same results, without any known person or company to follow. People bitch about Gox (and for good cause) but there's a reason that it's the only place where all of the big whales play at and every other exchange follows. Even after stopping all USD withdrawals, and a month SEPA withdrawals they're still like #1 (or so) exchange, think about it

Do you know if there have been any accounts of this sort of thing (people's money being stolen by the exchange), or is the concern that btc-e will just up and leave some day?

[OldGeek]

Okay.  I'm officially sick of Gox.  This last few days have been awful.  I'm thinking of moving to BTC-e.  Anything in particular I should watch out for?

Are you depositing USD? BTC-e is not accepting USD wire transfers.

No.  Depositing BTC.

[hmmmstrange]

Okay.  I'm officially sick of Gox.  This last few days have been awful.  I'm thinking of moving to BTC-e.  Anything in particular I should watch out for?

Just the Russians closing their doors and leaving with your BTC a la Sheep Marketplace style. Or someone closing their bank account etc... with the same results, without any known person or company to follow. People bitch about Gox (and for good cause) but there's a reason that it's the only place where all of the big whales play at and every other exchange follows. Even after stopping all USD withdrawals, and a month SEPA withdrawals they're still like #1 (or so) exchange, think about it

Do you know if there have been any accounts of this sort of thing (people's money being stolen by the exchange), or is the concern that btc-e will just up and leave some day?

I'm not calling DaRude an idiot, but Derp...