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

[MAbtc]

I like that if you did sell, every upward movement becomes a bull trap.

No, bears are indicating that the move from 576 was a bull trap that they are waiting to see complete.

[barbs]

I mean what do you think people transfer all this cash over to the exchanges to play and invest because they're fed up with the stock market and other boring investments and they're going to leave all that fiat on the side doing nothing ?? On the exchanges ? Wire back the finds they just sent through ?

Stay out at your peril

[Vycid]

I like that if you did sell, every upward movement becomes a bull trap.

No, bears are indicating that the move from 576 was a bull trap that they are waiting to see complete.

At what point does it stop being a bull trap and start being a normal upward movement? When the price doubles? Triples?

[simonk83]

I like that if you did sell, every upward movement becomes a bull trap.

No, bears are indicating that the move from 576 was a bull trap that they are waiting to see complete.

www.youtube.com/watch?v=6jfBnVVeKZs‎

[JimboToronto]

I like that if you did sell, every upward movement becomes a bull trap.

No, bears are indicating that the move from 576 was a bull trap that they are waiting to see complete.

Of course the flip side to that is that the move down to 576 was a bear trap which has finally been sprung.

[pdawg]

I doubt we see a triple top @ ATH, this consolidated at 50-61.8% fib levels form the start of the crash to 576, then took off, exactly what you would expect to see for a nice healthy continuation of the uptrend. I expect new ATH by next week or sooner.

[Vycid]

I doubt we see a triple top @ ATH, this consolidated at 50-61.8% fib levels form the start of the crash to 576, then took off, exactly what you would expect to see for a nice healthy continuation of the uptrend. I expect new ATH by next week or sooner.

Yeah, this looks a hell of a lot like the Nov 19th correction. Bears are myopic.

[byronbb]

I have been keeping an eye on the market this week. It occurred to me that the last trap (dec 7th) was preceded by a large spread ($100+). I haven't seen such a spread since then and there have also been no traps since then. Are the traps usually preceded by large spreads? Is there some common wisdom as to what else can cause such spreads?

Spread as in the difference between exchanges?? Remember a few days ago when all the exchanges were in step with each other? That was a buy signal. As gox gets further from the pack the opportunity to perform profitable arbitrage emerges thus opening us up to a re-convergence of prices. Gox prices are high because its hard to withdrawal, and btce 's are low because its hard to deposit and hard to trust.

[seriouscoin]

Adam, we need a new poll.... "Will we see $800s this December ? "

:p

[MAbtc]

I like that if you did sell, every upward movement becomes a bull trap.

No, bears are indicating that the move from 576 was a bull trap that they are waiting to see complete.

At what point does it stop being a bull trap and start being a normal upward movement? When the price doubles? Triples?

When the trend reverses.

[seleme]

I wish bitcoin exchanges would not be open 24/7.

[MAbtc]

I like that if you did sell, every upward movement becomes a bull trap.

No, bears are indicating that the move from 576 was a bull trap that they are waiting to see complete.

Of course the flip side to that is that the move down to 576 was a bear trap which has finally been sprung.

Indeed.  

[seleme]

I wish alts would still go down when btc is up and vice-verse too. It was much easier game to play when that was the case. Now everything is reliant to btc price and man can't hide himself anywhere.

[Vycid]

I like that if you did sell, every upward movement becomes a bull trap.

No, bears are indicating that the move from 576 was a bull trap that they are waiting to see complete.

At what point does it stop being a bull trap and start being a normal upward movement? When the price doubles? Triples?

When the trend reverses.

Then can't you speculate that the entire Bitcoin trend up from $0.05 is a giant bull trap? It's meaningless.

[barbs]

I wish bitcoin exchanges would not be open 24/7.

+1

Closed for one day a week would be nice

[Vycid]

I wish bitcoin exchanges would not be open 24/7.

If one (or all) decides to use "banker's hours" there will just be a new exchange to fill that gap and the "banker's hours" exchanges will get left behind.

The Bitcoin protocol is 24/7 and nothing is going to stop that. Trading will occur regardless.

You'd think that'd be the case for traditional financial markets, but it isn't...

I guess it's a product of just how frictionless Bitcoin really is (or maybe just a product of the fact that the Internet has never really had "hours" - can you imagine websites closing down for the night?  )

[Spaceman_Spiff]

I wish bitcoin exchanges would not be open 24/7.

If one (or all) decides to use "banker's hours" there will just be a new exchange to fill that gap and the "banker's hours" exchanges will get left behind.

The Bitcoin protocol is 24/7 and nothing is going to stop that. Trading will occur regardless.

Plus, not having 24/7 exchanges would be a major risk for payment processors such as bitpay.

[MAbtc]

I like that if you did sell, every upward movement becomes a bull trap.

No, bears are indicating that the move from 576 was a bull trap that they are waiting to see complete.

At what point does it stop being a bull trap and start being a normal upward movement? When the price doubles? Triples?

When the trend reverses.

Then can't you speculate that the entire Bitcoin trend up from $0.05 is a giant bull trap? It's meaningless.

I don't think "bull trap" is a term used to encompass years of price movement. I don't think it is a long term formation -- at least not for those who use the term.

[iarsenaux]

do you think that it is possible that the president of paypal admitted that he have some bitcoins to pump up the value then he is going to cash out without telling the public?

[ChartBuddy]