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

[BitChick]

Source:

Commit on git in the last hour: https://github.com/bitcoin/bitcoin/commits/master

First exchange successfully fixing this: http://blog.justcoin.com/post/transaction-malleability-and-attack-on-the-bitcoin-network

You know the rule, buy on rumors, sell on news. By the time is official the price is already climbing.

I checked it only a few hours ago , when MagicalTux joined and decided to wait for it. I didn't believe they will move that fast...

Btc-e is sending out btc withdrawals already too.

It's funny how the manipulators try to create a panic sell before the fix goes mainstream !

They manipulate because they can and it often works.  This is why we have to learn to hodl!    

[windjc]

Source:

Commit on git in the last hour: https://github.com/bitcoin/bitcoin/commits/master

First exchange successfully fixing this: http://blog.justcoin.com/post/transaction-malleability-and-attack-on-the-bitcoin-network

You know the rule, buy on rumors, sell on news. By the time is official the price is already climbing.

I checked it only a few hours ago , when MagicalTux joined and decided to wait for it. I didn't believe they will move that fast...

Btc-e is sending out btc withdrawals already too.

It's funny how the manipulators try to create a panic sell before the fix goes mainstream !

I think it's more just the human condition. Same thing happens in overbought situations. Often there is a big buy or runup before the reversal.

[oda.krell]

Some of you guys keep using that word "manipulators"... princess-bride.jpg

Or maybe you mean stuff like the 'adamstgBit' fake accounts... those are not manipulators. Those are imbeciles

[dgarcia]

Contrarion Trader here we go!

Cho Cho Motherfucker!

price is going down.. lol

You got it!

[aminorex]

Where do you get this idea from? Can we agree on StochRSI as a decent indicator to settle the question you raise? If so, there's a chance we haven't really started this bear market properly yet. Or are you talking about a much shorter time period? In that case, you might be right.

I'm looking at the daily chart, 3 period RSI.

[windjc]

There's a buying entry point coming in the next 12-24 hours.  

[njcarlos]

There's a buying entry point coming in the next 12-24 hours.  

Or just wait a week and buy sub $400 on Gox and sub $500 everywhere else.

[mah87]

There's a buying entry point coming in the next 12-24 hours.  

Or just wait a week and buy sub $400 on Gox and sub $500 everywhere else.

300$ incoming. TONIGHT

[stompix]

i think i'm ganna be sick

I thought you quit drinking and trading  ?

[stompix]

Some of you guys keep using that word "manipulators"... princess-bride.jpg

Or maybe you mean stuff like the 'adamstgBit' fake accounts... those are not manipulators. Those are imbeciles

LOOL , this one , you nailed it!!!!

[windjc]

There's a buying entry point coming in the next 12-24 hours.  

Or just wait a week and buy sub $400 on Gox and sub $500 everywhere else.

No. Once Stamp and Gox green light withdrawals we are going up and fast. Sure you can gamble all you want about when that will happen, but currently Gox is approaching $455 that is MAJOR resistance. It is going to bounce on that.

[oda.krell]

Where do you get this idea from? Can we agree on StochRSI as a decent indicator to settle the question you raise? If so, there's a chance we haven't really started this bear market properly yet. Or are you talking about a much shorter time period? In that case, you might be right.

I'm looking at the daily chart, 3 period RSI.

Can see it now. So shorter time frame then.

I'm not convinced, though. We've rallied on retardedly overbought conditions, we sure as hell can go downwards on oversold ones

[njcarlos]

No. Once Stamp and Gox green light withdrawals we are going up and fast. Sure you can gamble all you want about when that will happen, but currently Gox is approaching $455 that is MAJOR resistance. It is going to bounce on that.

How are you determining that "resistance," depth charts? That shit just literally cut in half as I was typing this. From one day to the next we're closing at lower lows. What happened to all that resistance at $600 and $550?

[dreamspark]

Whats everyones favorite charts to check ask/bid depth on ? I've tried a few out but nothing has been what Im looking for yet

[dgarcia]

Wall-Observer turned bearish. Time to buy.

[phoenix1]

I understand how it normally would react to eachother but as far as i know Gox prices aren't relevant anymore. It's a non functioning exchange. Why would someone trading on Stamp even pay attention to gox anymore.

Their 24h volume right now is higher than stamp. Over the past 30 days, they're still at about 70% of stamps volume.

Sure, like everyone else I hope gox is dying, but you know how those death throes of former giants can kinda still cause quite a bit of damage. If all goes well, we won't be paying attention to gox price anymore in a year from now. But for now, it's hard to ignore completely, considering the amount of coins and USD bound to that black hole.

The problem is one of perception
It is all very well those who are educated enough to understand the (protocol) problem realise isn't that serious. But the vast majority of people outside, and a lot inside do not. Perception is reality to most people, flawed or not. And it just gives the haters a stick to bash with.
As for Gox, and media attention stimulated by their activities is still very relevant to BTC as it affects how the majority of people OUTSIDE of the community perceive things. Ignore this at your peril. If they do not go down quietly or it turns out they have defrauded many people, it will affect public perception, adoption and therefore price, for a period of time.

Not trying to to spread fear - I just feel that a lot of people who are very well informed about Bitcoin have blinkers WRT to this. The danger comes from the uniformed, those who are targeted every day by a sensationalist media.

[niothor]

Count me among the optimists.  

Now , this is bearish.

[windjc]

No. Once Stamp and Gox green light withdrawals we are going up and fast. Sure you can gamble all you want about when that will happen, but currently Gox is approaching $455 that is MAJOR resistance. It is going to bounce on that.

How are you determining that "resistance," depth charts? That shit just literally cut in half as I was typing this. From one day to the next we're closing at lower lows. What happened to all that resistance at $600 and $550?

What? $455 was the December crash low.

[njcarlos]

No. Once Stamp and Gox green light withdrawals we are going up and fast. Sure you can gamble all you want about when that will happen, but currently Gox is approaching $455 that is MAJOR resistance. It is going to bounce on that.

How are you determining that "resistance," depth charts? That shit just literally cut in half as I was typing this. From one day to the next we're closing at lower lows. What happened to all that resistance at $600 and $550?

What? $455 was the December crash low.

I'm looking at a 30 day spread here, there are 0 signs of significant resistance relatively speaking, but feel free to prove me wrong I'd love to be convinced otherwise. Any help timing the bottom is always appreciated.

[Walsoraj]

Total bid sum on Gox is approaching $10 million. Wasn't btc around $100 last time there was that much on the order book?