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

[MAbtc]

I am 'new' money. I am looking for that clear long Bitcoin opportunity but before I do that Bitcoin has to start taking out resistance levels with convincing volume and the trading has to not totally fucking stink of price holding bot algorithms and/or whale price ramping . Whether Bitcoin starts taking out resistance levels in the $500 zone as it climbs from a $380 bottom or it starts taking out resistance levels in the $800 - $900 region is irrelevant to me. I am not jumping on the train until it has shown it is going in the right direction.

I don't understand this kind of statement.
You won't go long now because the trend is not clear so you will wait until bitcoin goes straight from $800 to $1300 and then you will buy ... probably at $1500 ?
Please explain.

I will say that when entering the market in April as a newb trader, this was exactly my mindset. My concern was accumulating fiat, not coins. So yes, I was not aiming to catch the bottom but rather ride a predictable trend well after the bottom was in. (Try rushing to get your dollars to the exchange to buy your first bitcoins, only to watch the price drop 70% as soon as you're funded.)

[esse83]

I sent a mail to Gox support about 45mins ago asking to get the funds that were stuck in limbo put back in my account... and now they're back there! I'd asked the support guy on irc to do it a few days back and he said not possible. Not sure, maybe I was a lot more polite this time

Not really sure what to make of this, I know everyone is sick of hearing gox sux stories but this was a nano step in the right direction. I hope (although not kidding myself on) this is a sign of them actually seriously trying to get their act together.. which begs the question...

if Gox somehow got everything sorted (lets for argument sake say midnight tomorrow), everybody got their BTC back in their wallets, month old fiat transfers appeared into our bank accounts everything was the way it should... would that restore faith in the magic exchange? or is the blemish too big now? can they ever regain trust of those who have left?

You got what they claim is bitcoin back.. thats all. It's just a number they add to ur account, how hard can that be.

[JimboToronto]

These are the most beautiful things ever

https://www.youtube.com/watch?v=PFtfMNT_8tg

Nice looking speakers but what exactly do they have to do with Bitcoin speculation?

[kurious]

I sent a mail to Gox support about 45mins ago asking to get the funds that were stuck in limbo put back in my account... and now they're back there! I'd asked the support guy on irc to do it a few days back and he said not possible. Not sure, maybe I was a lot more polite this time

Not really sure what to make of this, I know everyone is sick of hearing gox sux stories but this was a nano step in the right direction. I hope (although not kidding myself on) this is a sign of them actually seriously trying to get their act together.. which begs the question...

if Gox somehow got everything sorted (lets for argument sake say midnight tomorrow), everybody got their BTC back in their wallets, month old fiat transfers appeared into our bank accounts everything was the way it should... would that restore faith in the magic exchange? or is the blemish too big now? can they ever regain trust of those who have left?

Maybe.  But I can't see fiat withdrawals ever being anything like acceptable.  

As long as coins could go in and out, it was not so bad - but they need to fix this AND fiat now - if they are to regain trust.   It would take a lot for trust to be rebuilt after so much leeway has been extended to them.  

Put it ALL right and sure, yes.  But can you see that happening?

[kurious]

These are the most beautiful things ever

https://www.youtube.com/watch?v=PFtfMNT_8tg

Nice looking speakers but what exactly do they have to do with Bitcoin speculation?

Not much and they are not nice looking at all!  Who the hell would want those in their house?

I have a pretty large studios - and I would not have them in it - ridiculous, ugly things!

[hdbuck]

These are the most beautiful things ever

https://www.youtube.com/watch?v=PFtfMNT_8tg

Nice looking speakers but what exactly do they have to do with Bitcoin speculation?

Not much and they are not nice looking at all!  Who the hell would want those in their house?

I have a pretty large studios - and I would not have them in it - ridiculous, ugly things!

boom

[kurious]

These are the most beautiful things ever

https://www.youtube.com/watch?v=PFtfMNT_8tg

Nice looking speakers but what exactly do they have to do with Bitcoin speculation?

Not much and they are not nice looking at all!  Who the hell would want those in their house?

I have a pretty large studios - and I would not have them in it - ridiculous, ugly things!

boom

That's a bit better.... 

[Nemo1024]

I am 'new' money. I am looking for that clear long Bitcoin opportunity but before I do that Bitcoin has to start taking out resistance levels with convincing volume and the trading has to not totally fucking stink of price holding bot algorithms and/or whale price ramping . Whether Bitcoin starts taking out resistance levels in the $500 zone as it climbs from a $380 bottom or it starts taking out resistance levels in the $800 - $900 region is irrelevant to me. I am not jumping on the train until it has shown it is going in the right direction.

I don't understand this kind of statement.
You won't go long now because the trend is not clear so you will wait until bitcoin goes straight from $800 to $1300 and then you will buy ... probably at $1500 ?
Please explain.

I will say that when entering the market in April as a newb trader, this was exactly my mindset. My concern was accumulating fiat, not coins. So yes, I was not aiming to catch the bottom but rather ride a predictable trend well after the bottom was in. (Try rushing to get your dollars to the exchange to buy your first bitcoins, only to watch the price drop 70% as soon as you're funded.)

And that mindset cost me quite a few missed coins, when I entered the market after April and was waiting for a further dip or a sign of upward movement. I hovered around 110 fully in fiat, and first bought in at about 170-190. Looking back, if I bought back then as soon as fiat was on the exchange, I would have had now 20-30BTC more.

Currently, I buy with 80% of the funds, whatever the price level, while using the remaining 20% to set up strategically staggered buy bid lower down.

[JimboToronto]

That's a bit better.... 

Maybe in appearance (depending on taste), but I'd imagine the JBLs sound much better.

Those things look like the kind of low-quality designed-for-appearance crap you'd expect from Apple Corp.

[hdbuck]

That's a bit better....  

Maybe in appearance (depending on taste), but I'd imagine the JBLs sound much better.

Those things look like the kind of low-quality designed-for-appearance crap you'd expect from Apple Corp.

lmao.

these my friend are "la creme de la creme"  

->http://www.avantgarde-acoustic.de/home.html

[keewee]

That's a bit better.... 

Maybe in appearance (depending on taste), but I'd imagine the JBLs sound much better.

Those things look like the kind of low-quality designed-for-appearance crap you'd expect from Apple Corp.

They're made by Avantgarde Acoustic and far from low-quality. One of the top rated speakers manufactured in the world currently, and will set you back a couple of hundred grand. http://www.avantgarde-acoustic.de/home.html

[medialab101]

That's a bit better.... 

Maybe in appearance (depending on taste), but I'd imagine the JBLs sound much better.

Those things look like the kind of low-quality designed-for-appearance crap you'd expect from Apple Corp.

So this is what we're doing now... talking about speakers until the Chinese come back

[medialab101]

That's a bit better.... 

Maybe in appearance (depending on taste), but I'd imagine the JBLs sound much better.

Those things look like the kind of low-quality designed-for-appearance crap you'd expect from Apple Corp.

So this is what we're doing now... talking about speakers until the Chinese come back

Or until Gox folds... whichever comes first

[kurious]

That's a bit better.... 

Maybe in appearance (depending on taste), but I'd imagine the JBLs sound much better.

Those things look like the kind of low-quality designed-for-appearance crap you'd expect from Apple Corp.

Maybe - but after 20 years of running a pro studios I am no longer impressed with size.  And ugly is not good either!

And listening to those huge, out of date JBLs on a Youtube video was frankly painful - sounded awful to me.  Sorry, but I value my ears and size is just not impressive - especially if it takes up half the room.  You wouldn't find them in any real pro studio, clients would die laughing.

But each to their own, I guess - maybe I spent too long liking music, rather than gear....

Aaaand... back to Bitcoin before we get flamed, eh?

If it wasn't so grindingly dull right now I wouldn't have replied - we are in danger of trolls and chartbuddy being the only posts here!

[scorp1618]

This
http://www.rumorguru.com/pics/penguin-polar.jpg

[kurious]

That's a bit better.... 

Maybe in appearance (depending on taste), but I'd imagine the JBLs sound much better.

Those things look like the kind of low-quality designed-for-appearance crap you'd expect from Apple Corp.

So this is what we're doing now... talking about speakers until the Chinese come back

Or until Gox folds... whichever comes first

Unless they pull it together, it might well meltdown - they aren't anywhere near getting on top of it.   Krapeles has lost it, he should sell before all is lost.

[kurious]

This

+1

[hdbuck]

This

+1

[Davyd05]

I see the spread is decreasing, .. lol are people willing to hold dem gox bux again?>

[empowering]

Bitstamp

Upside breakout scenario.

Bitstamp

Starting point was $820/5 February 01, 2014 at around 02:55:31 PM

I have laid out my upside possible resistance/pivots/supports from my original post for easier viewing.

If we break out from now or over the next few weeks or at least the next month
then from   $820-$825   I see the following possible resistance/pivots/supports.
 
$840-$858
$858-$880
$880-900 ($900 psychological for USD)
$900-$910/5 (could be a psychological resistance level as also $908/10 = CNY5500)
$910-$928
$928-$945
$945-$970
$991 - (could be a psychological resistance level as also $990/1 ish = CNY6000)
$Cape Canaveral

Downside scenario from this current $820 - $825 channel I can see the possible supports/pivots/resistance

$825 (this price could also be a psychological support because $825= CNY4999.99)
$817 - We dipped down to here for quite some time a good few hours February 01, 2014, 09:32:01 PM now hovering on or around $817 within plus or minus $2ish- or CNY 50 short of CNY5000 $817 first acting as support then switching to resistance - within $2-3 but $817 is quite a specific number we have been pivoting on off for quite a few hours… not $833 or $823 or  $807 - but quite strongly pivoting around $817 (+- $2-3ish) ….quite interesting to see what happens…. next….,  if there is consolidation at this level then there should be a movement one way or other…  
$800 psychological
$800 - $775 ish
$775- $757 ish
$757- $749 ($740 = CNY4500)
$725? (edit)
$710/11 (edit added 03/02/2013)
$700 psychological
$682 (edit added 03/02/2013)
$642 (edit added 03/02/2013)

Update February 02, 2014, 05:18:05 AM (?)
$817 Still bouncing along this resistance line

Update: February 03, 2014, 13:51
1st RS $825
Pivot   $817
1st SP $800

In past 48 hours we have touched the support at bottom of 1st channel at $800  (actual low in past 48 hours  =$800.05)
Bounced eitherside of $817 for a fair 24 hours, and before dipping down to test $800 SP)
and on the upside we touched 1st resistance level above pivot at $825 (actual high in past 48hrs = $825.21)

Looks like we may get possible retest of $800 and pos lower soon, though I still think we are going up

Update: February 04, 2014, 11:58:37 PM

nxt $858
nxt $840

1st RS $825
Pivot   $817
1st SP $800 Been trading inbetween $817 and $800 , with a tiny flashes a little lower on the test of $800 nothing to write home about, currently testing $800 again
nxt $775 ish
nxt $757 ish


As a side note- things are pretty stable at the present second, barring a catastrophic break of $800 I am wondering if we may trade sideways for a few more days/while longer.  Still waiting for a breakout of this sideways channel but starting to think that if we do not see movement soon, or at the very least in the week after the end of the Chinese hol's then I would not be surprised barring any oh noes newses if we trade sideways in slightly larger channel until mid may ish before pushing up up...


In this ever changing world in which we live in - just a my 2 satoshi worth , live and let live.